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Spruce Ridge Resources Ltd.
Summary
| Project: | Great Burnt | |
|---|---|---|
| Deposit: | Great Burnt | |
| Location: | Canada | |
| Commodities: | Copper-Gold | |
| Date: | 10/29/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 29-10-2019: Spruce Ridge Resources Ltd. announces a Resource Estimation report for its Great Burnt deposit at the Great Burnt project. Updated mineral resource estimate. Puslinch, Ontario – Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce Ridge” or “th | |
| Resources: | (Resource): 769Kt @ 2.46% CuEq (Ind) and 775Kt @ 2.24% CuEq (Inf) | |
| CP/QP: | [Resources]: Not stated (P&E Mining Consultants Inc.) | |
| ABSTRACT: | Puslinch, Ontario – Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce Ridge” or “the Company”) announces an Updated Mineral Resource Estimate at the Great Burnt Project in south-central Newfoundland. The estimates were made by P&E Mining Consultants Inc. The Mineral Resource Estimate includes the Great Burnt Copper Deposit and the South Pond “A” copper-gold zone. No Mineral Resource Estimate was calculated for the South Pond “B” Gold Zone. The Updated Mineral Resource Estimate represents substantial increases over a previous Mineral Resource Estimate made in 2015, also by P&E Mining Consultants Inc. At the Great Burnt Deposit, estimates of contained copper in the Indicated Mineral Resource classification increased by 40 percent over the 2015 estimate, while contained copper in the Inferred Mineral Resource classification decreased by only 10 percent. Copper grades showed slight increases of 1 percent in the Indicated classification and 4 percent in the Inferred classification, despite the reduction in cut-off grade from 1.0% to 0.9% copper. These changes reflect the incorporation of results from infill drilling carried out in 2016 and 2018. | |
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