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Spruce Ridge Resources Ltd.
Summary
| Project: | Great Burnt | |
|---|---|---|
| Deposit: | South Pond A Zone | |
| Location: | Canada | |
| Commodities: | Copper-Gold | |
| Date: | 7/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 7-7-2016: Spruce Ridge Resources Ltd. announces a Resource Estimation report for its South Pond A Zone deposit at the Great Burnt project. Mineral resource update for The Great Burnt Project's South Pond "A" Zone. Wellington County, Ontario – Spruce Ridge | |
| Resources: | (Resource): 47Kt @ 1.77% Cu, 1.61g/t Au (Ind.) and 191Kt @ 1.55% Cu, 1.06g/t Au (Inf.) | |
| CP/QP: | [Resources]: Timothy Froude, Eugene Puritch (P&E Mining Consultants Inc.) | |
| ABSTRACT: | Wellington County, Ontario – Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce Ridge” or “the Company”) announces an updated mineral resource estimate at the Great Burnt Project’s South Pond “A” Zone that now includes a gold resource and an increased copper resource. The Great Burnt Project is located in Newfoundland, Canada and consists of four prospective copper and gold zones (The Great Burnt Zone, South Pond “A” Zone, South Pond “B” Zone and the End Zone Prospect). In September, 2015, Spruce Ridge completed a program of re-sampling of archived core from South Pond for gold as well as base metals. The re-sampling focused on the historical assay intervals reported from drill programs by Asarco and BP, with additional sampling of previously un-sampled sulphide rich intervals. Where possible, the same historical intervals were sampled by quartering of the archived core. Spruce Ridge re-sampling included all previously sampled intervals, and also in-filled sections between sampled intervals that were not previously sampled. The program was successful in re-confirming the copper values reported historically as well as copper values reported by P&E during their due diligence sampling of the South Pond core, in addition to confirming significant gold mineralization throughout the South Pond “A” Zone. | |
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