Spruce Ridge Resources To Commence Drilling At Newfoundland Copper Project

Spruce Ridge Resources (TSXV: SHL) this morning announced that it is intending to immediately commence a 3,000 metre drill program at its Great Burnt Copper Deposit in central Newfoundland. The company has indicated that the drill program will be focused on firming up the current mineral resource estimate at the copper property.

The Great Burnt Copper Deposit project currently has an indicated mineral resource estimate of 550,000 tonnes of 2.66% Copper, with contained copper coming in at 32.3 million pounds, while also having an inferred resource of 30.4 million pounds (572,000 tonnes) of 2.41% Copper. This data was recently strengthened in 2018 following an infill drill program, which intersected greater widths and higher copper grades than nearby historical holes.

The company also plans to conduct drilling on its South Pond Copper-Gold deposits, which is located 11 kilometres away. Spruce Ridge will be working under an existing exploration permit at Great Burnt, while applying for a new permit to make an access trail to that of the South Pond deposit, as well as to conduct additional drilling on the South Pond “A” and “B” copper-gold and gold deposits.

The South Pond “A” deposit has indicated resources of 219,000 tonnes of 1.26% copper and 1.01 g/t gold, and inferred resources of 203,000 tonnes of 1.09% copper and 0.98 g/t gold.

The company has also indicated that it intends to perform preliminary testing on archived drill cores from the Great Burnt Deposit to conduct a preliminary economic assessment. This will determine the viability of mining the copper deposit.

Spruce Ridge Resources last traded at $0.075 on the TSX Venture.


FULL DISCLOSURE: Spruce Ridge Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Spruce Ridge Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Max Resource Identifies Silver Bearing Copper Sulfides and Native Silver At Cesar

Max Resource Corp (TSXV: MXR) this morning provided an update to the market in relation...

Tuesday, August 25, 2020, 09:15:39 AM

Max Resource Sees Samples Assay 12.5% Copper, 83.5 G/T Silver At Conejo Discovery

Max Resource Corp (TSXV: MXR) reported assay results from samples collected at its new Conejo...

Wednesday, March 24, 2021, 08:22:32 AM

How Water Rights Can Help Fund A 100K Ton Copper Project | Christian Easterday – Hot Chili

In this interview, Christian Easterday, Managing Director & CEO of Hot Chili Limited (TSXV: HCH),...

Monday, December 9, 2024, 02:50:00 PM

BHP: Rising AI Demand Could Trigger Copper Crisis by 2050

The rapid rise of artificial intelligence is transforming industries worldwide, but it may also create...

Wednesday, September 18, 2024, 02:49:00 PM

Deep-South Sees Namibia Deny Its Prospecting License Renewal, Again

Deep-South Resources (TSXV: DSM) this morning is feeling the effects of investing in high-risk regions...

Friday, June 25, 2021, 08:25:10 AM