Sunridge Gold Corp.


Sunridge Gold Corp. is currently developing the copper-zinc-gold Asmara project in Eritrea, East Africa. Successful exploration has defined six NI 43-101 deposits to date. A feasibility study completed in 2013 on the four advanced projects at the Asmara project demonstrated very strong economics, including an NPV (10%) of $692M and IRR of 34%. On October 19, 2015, Sunridge announced that the Eritrean Ministry of Energy and Mines had awarded three mining licenses to the Asmara Mining Share Company ("AMSC"), a joint-venture company of which Sunridge owns 60% and the Eritrean National Mining Corporation owns 40%. The company will begin Phase 1a Direct Shipping Ore mining (averaging 16% copper) in 2016, which will provide an injection of cash into the project. Once full production is achieved, the operation will average 65 Mlb copper and 184 Mlb zinc/year, with significant gold and silver credits. Exploration potential remains on the project, including two defined "Pipeline Deposits" and numerous high-priority targets. The Asmara project has government participation from the Eritrean National Mining Corporation.

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2024/7/23 22:19:48