Sunridge Gold Corp. Engages Snowden and GBM to Conduct Prefeasibility Study on Asmara North Deposits

Strategic Insights -

Sunridge Gold Corp. has announced the engagement of Snowden Mining Industry Consultants Inc. and GBM Minerals Engineering Consultants Ltd. to conduct a prefeasibility study on its combined Emba Derho, Adi Nefas, and Gupo copper-zinc-gold deposits in Eritrea. The study will consider a centralized process plant using flotation for base metal recovery and will examine various mining options over a 10-14 year life of mine. The team, led by Snowden, will be assisted by GBM for engineering design expertise and Knight Piesold Ltd. for tailings facility design and waste management.

Key Takeaways:

  • Sunridge Gold Corp. has engaged Snowden and GBM to conduct a prefeasibility study on its Asmara North deposits, which include the Emba Derho, Adi Nefas, and Gupo copper-zinc-gold deposits.
  • The study will evaluate a centralized process plant using flotation for base metal recovery and will examine various mining options over a 10-14 year life of mine.
  • The team, led by Snowden, will be assisted by GBM for engineering design expertise and Knight Piesold Ltd. for tailings facility design and waste management.
  • The study is expected to be completed in the fourth quarter of 2011.
  • The Asmara North deposits include three distinct deposits: Debarwa, Emba Derho, and Gupo.
  • The Debarwa deposit is a high-grade copper-gold-zinc VMS deposit currently in feasibility study.

Statistics:

  • 10-14 year life of mine for the Asmara North deposits.
  • $25 million in cash for Sunridge Gold Corp.
  • 116 million shares outstanding for Sunridge Gold Corp.
  • Asmara North deposits have rich copper, zinc, and gold resources.
  • Possible transport options for the Debarwa deposit to the central process plant facility.
  • Various mining options to be examined by the prefeasibility study.

Sources:

  • Sunridge Gold Corp.
  • MARKETWIRE
  • COMTEX
  • TSX Venture Exchange
  • SEDAR (www.sedar.com)