Sunridge Gold announced that further to the strategic partnership with Antofagasta Minerals S.A. to explore Sunridge’s Asmara Project, Eritrea, the first Asmara Project Joint-Venture Management Committee meeting was held. A program of detailed geological and structural mapping was agreed to on the Dairo Paulus exploration area to define specific drill targets.
Antofagasta entered into an exploration agreement with Sunridge Gold Corp whereby Antofagasta Minerals can earn an initial 60% interest in Sunridge's Asmara project in Eritrea by funding US$10 million of exploration work over a 5-year period, and a further 15% interest (for an aggregate 75% interest in the project) by delivering a feasibility study on the project.
Sunridge Gold announced that it has commenced a new drill program at the Asmara Project, Eritrea. Drilling will focus on expanding the known resources within the “Development Areas” that contains four deposits, Emba Derho, Debarwa, Adi Nefas and Gupo Gold. Drilling has commenced at the Debarwa high-grade copper-gold-zinc volcanogenic massive sulphide (VMS) project. Approximately 2,000 metres is planned for this phase of drilling which will test several strong geological and geophysical anomalies that appear to be extensions of the known mineralized zones.
