Sunridge Gold (SGC.TSXV) announced that the initial 5,000 meter diamond drill program on the Besakoa copper/zinc/gold volcanogenic-massive-sulphide (VMS) project in Madagascar is now complete. The emerging gold Company noted that core samples have been shipped to the laboratory and assay results are expected next month.
Sunridge also reported that it notified the owners of the project, Majescor Resources, that it has completed its $2 million work obligation on the property and has issued 300,000 Sunridge common shares to Majescor. In addition, Sunridge confirmed its intention to gain a 50% ownership of Daraina Exploration S.A.R.I. – the owner of the Besakoa Project – under the terms of the September 15, 2008, option agreement with Majescor.