Spruce Ridge Resources (TSXV: SHL) on Thursday released further results from its recently conducted drill program at the Great Burnt copper project, located in Central Newfoundland. Results released are for that of hole GB20-20, which was selected for rushed assay as a result of preliminary findings, with the highlight value from this hole being 22.75 metres of 6.89% copper, 0.79% zinc, and 0.05 g/t gold.
Results released on Thursday are essentially a follow-on to the announcement last Monday, wherein the company revealed it had intersected 27.2 metres of 8.02% copper at the flagship project. The latest intercept is said to be 187 metres north, and 10 metres higher than this previously released drill hole.
The intercept released Thursday also included a smaller interval whereby the core assayed 12.55 metres of 10.59% copper, 1.27% zinc, and 0.07 g/t gold, as well as an interval 1.50 metres in length with 18.15% copper, 1.98 zinc and 0.04 g/t gold.
|Hole No.||From (m)||Io (m)||Length (m)||Cu (%)||Zn (%)||Au (g/t)|
|GB20-20||64.20||86.95||22.75||6.89% Cu||0.79% Zn||0.05 g/t Au|
|includes||73.40||85.95||12.55||10.59% Cu||1.27% Zn||0.07 g/t Au|
|includes||84.45||85.85||1.50||18.15% Cu||1.98% Zn||0.04 g/t Au|
This second high-grade intercept tends to confirm our suspicion that historical drilling of the Great Burnt deposit in the 1960s may have understated the copper grades due to poor core recovery in the sulphide zone.John Ryan, CEO of Spruce Ridge Resources
Spruce Ridge Resources last traded at $0.145 on the TSX Venture.
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