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Spruce Ridge Resources Ltd.
Summary
| Project: | Crawford | |
|---|---|---|
| Deposit: | Crawford | |
| Location: | Canada | |
| Commodities: | Nickel-Cobalt-Platinum-Palladium-Gold | |
| Date: | 3/1/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2019: Spruce Ridge Resources Ltd. announces an Exploration/Drilling Update report for its Crawford deposit at the Crawford project. Drilling results incl. 291m @ 0.293% Ni, 118ppm Co, 0.011g/t Pt, 0.020g/t Pd, 0.002g/t Au from 234m. Spruce Ridge Resou | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Colin Bowdidge (Internal) | |
| ABSTRACT: | Spruce Ridge Resources Ltd. (TSX-V SHL) - (“Spruce Ridge” or the “Company”) is pleased to announce the results of its 2018 winter drill program on the Crawford nickel project near Timmins, Ontario. Four holes totalling 1,818 metres were drilled on the Crawford Ultramafic Complex. Three of the holes intersected serpentinized dunite with persistent nickel values greater than 0.25% Ni over core lengths of up to 291 metres. Using a lower threshold of 0.20% Ni, long intervals are present in all four holes, with a maximum core length of 558 metres. Individual samples of 1.5 metre core intervals reported up to 0.669% Ni. Potentially significant assays of cobalt, platinum and palladium were also reported. The following table summarizes the results averaged over their respective intervals. The 2018 drilling program by Spruce Ridge and its Joint Venture partner, a group of private investors, was focussed on the Crawford Ultramafic Complex, a 3.5-kilometre long body of peridotite, dunite and their serpentinized equivalents. The target was defined by a helicopter-borne magnetic and electromagnetic survey and an airborne gravity survey, both conducted over of the entire project area of 100 sq. km. An Artificial Intelligence (A.I.) review of data, provided by Albert Mining Inc. (TSX-V AIIM), also identified the area as being prospective for nickel. Three holes - CR18-01, 18-03 and 18-04 - of 594, 606 and 402 metres tested the axial part of the main magnetic anomaly. Holes CR18-03 and 18-04 cut through the southwestern contact of the dunite, while 18-01 was entirely within the dunite. Hole CR18-02 tested a well-defined conductor that was defined by the Airborne survey. It was explained by a fault and fracture zone in dunite. Levels of nickel and associated metals were lower in CR18-02. The type example of the exploration model that the Company used at Crawford is the Dumont Nickel deposit of Royal Nickel Corporation (“RNC”), 220 kilometres to the east in the Abitibi region of Québec. A 2013 Mineral Resource estimate in a 43-101 technical report addressed to RNC quotes Measured plus Indicated Mineral Resources of 1.66 billion tonnes grading 0.27% Ni, 107 ppm Co (cobalt), 0.009 g/t Pt (platinum) and 0.020 g/t Pd (palladium) plus an Inferred Mineral Resource of 0.5 billion tonnes grading 0.26% Ni, 101 ppm Co, 0.006 g/t Pt and 0.012 g/t Pd. While some similarities may exist, mineralization hosted by the Dumont Deposit is not necessarily indicative of mineralization hosted on the Company’s Crawford Nickel Project. | |
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