Spruce Ridge Resources (TSXV: SHL) this morning reported the final assay results from its 2020 drill program conducted at its Great Burnt copper deposit in Newfoundland. Highlight results from the entire program consist of GB20-05, reported December 21, with 8.06% copper over 27.2 metres, and GB20-020, reported December 24, with 6.89% copper over 13.4 metres.
The drill program as a whole consisted of a 22 hole program conducted over a total of 3,114 metres. The Main zone of the deposit was deposit over a length of 500 metres to a depth of 250 metres. The Stringer Zone, which is between 12 and 20 metres east of the Main Zone, was also tested, with 12 of 22 holes hitting the zone which is reportedly discontinuous.
“These drill results confirm our opinion that historical drilling in the 1960s, which recovered EX size core with a diameter of 22 mm, using standard drilling, tended to understate the copper grades at Great Burnt due to grinding of the core. Using a modern wireline drill with NQ core, we are getting close to 100 percent core recovery, and we anticipate that the upcoming resource estimate and PEA will reflect this.”
John A. Ryan, CEO of Spruce Ridge
Full results from the program can be found here.
Spruce Ridge Resources last traded at $0.175 on the TSX Venture.
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