Category Archives: Development

Sunridge Gold: 7% up on start of 4,000m drill program

Sunridge Gold

Proactive Investors, December 01, 2010 
Sunridge Gold (TSX-V: SGC) said Wednesday that a 4,000 metre diamond drill program has begun at the Debarwa copper-gold-zinc VMS deposit in Eritrea, northeast Africa, as part of the company’s ongoing feasibility work on the project.                           Continue reading Sunridge Gold: 7% up on start of 4,000m drill program

Is Sunridge the Next Nevsun?

Sunridge Gold

The mining industry is apparently focusing hard on Eritrea again and Sunridge Gold is now positioned to be the next company to push towards production.

Sunridge’s peer company, Nevsun Resources is currently building the first modern mine in Eritrea and is nearing completion of the Bisha gold-copper-zinc VMS project. The mine construction is on schedule and the first gold pour is now expected before the end of 2010. Nevsun’s market cap is now approximately $1.17 billion. Continue reading Is Sunridge the Next Nevsun?

Drilling Resumes at World's Shallowest Potash Deposit in Eritrea

South Boulder begins drilling at Colluli potash deposit in Eritrea

South Boulder Mines Ltd – ASX Release, 22 November 2010

  • Drilling targeting extensions to high grade potash has re-commenced;
  • Previously announced hole Col-004 intersected a total thickness of 21.46m of potash including the high grade interval of 3.44m of sylvinitite @ 44% KCl from 28.68m;

Eritrea: Chalice Gold Listed in Toronto Stock Exchange

Gold trades above $1,300 per oz

Matthew Hill – 26November 2010

Perth-based Chalice Gold, exploring for gold in Eritrea, listed on the TSX on Friday, and chairperson Tim Goyder predicted its Zara project would have a capital payback period of “slightly over two years” at a $1 200/oz gold price.

According to a feasibility study, the Koka deposit at Zara would produce an average 104 000 oz/y with low cash operating costs of $338/oz and an initial mine life of seven years.

“With these robust economics, Chalice has, in cooperation with the Eritrean government, commenced the permitting process for the Koka project to facilitate the grant of a mining licence to enable development to commence during 2011,” Goyder told shareholders on Thursday at Chalice’s annual general meeting in Perth.    Continue reading Eritrea: Chalice Gold Listed in Toronto Stock Exchange