Spruce Ridge Resources (TSXV: SHL) this afternoon announced that diamond drilling is to begin next week on its Great Burnt copper-gold project in south central Newfoundland. The program, at 3,500 metres in size, will focus on the original section lines on the property.
The latest drilling that was conducted on the Great Burnt property occurred in 2018, when infill drilling revealed 20.94 metres of 6.21% copper, includings 6.98 metres of 10.71% copper. A second drill hole conducted at the time revealed 9.97 meters of 7.45% copper.
Prior historical drilling conducted at Great Burnt has focused on 61 metre spacing. The program in 2018 however focused on infill drilling to test between this spacing which previously had not been done. The program scheduled for this year will continue to drill both in between and on these section lines as Spruce Ridge looks to better understand the mineralization of the property.
Spruce Ridge will look to further increase its mineral resource estimate for the property, while also focusing on upgrading inferred resources to the indicated category.
Spruce Ridge Resources last traded at $0.07 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.
Bank Of America Lowers Gold Price Target To $2000? – The Daily Dive feat John-Mark Staude
Returning to the Daily Dive today is that of John-Mark Staude of Riverside Resources (TSXV:...