This morning’s news release reporting more strong gold drill results from the Gupo Gold deposit once again demonstrates the impressive value of Sunridge’s deposits in Eritrea. Sunridge Management considers  Gupo Gold  secondary when compared to the other 3 deposits the company is developing, yet it has the potential offer early low cost gold production for the company similar to the way that Nevsun’s Bisha Mine has.

The Gupo Deposit is including in the Prefeasibility study currently being conducted on the Asmara North Deposits, which also includes the world class Emba Derho copper-zinc-gold deposit and the high grade Adi Nefas deposit. The study is due to be complete in April.

There are many junior mining  companies out there that have been built around projects just like Gupo Gold, but in the case of Sunridge it is merely gravy. The company is expected to release updated NI43-101 resource estimates on Emba derho and Adi Nefas next week.

A close above $.50 should allow for a test of key resistance around the 200-Day M.A (presently around $.64).

This entry was posted on January 26, 2012 at 9:38 AM. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Posted in A Grandich Company All Posts Base Metals Canadian Stocks Copper Exploration Shares Gold Mining Shares Precious Metals Silver Sunridge Gold Zinc by Peter Grandich