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Spruce Ridge Announces the Start of an EM/Mag Airborne Survey at Great Burnt Copper - Gold Property
PUSLINCH, ON / ACCESSWIRE / February 14, 2020 / Spruce Ridge Resources Limited (TSXV: SHL) (...
About this update from Homeland Nickel Inc
[{"type":"text","content":"Spruce Ridge Announces the Start of an EM/Mag Airborne Survey at Great Burnt Copper - Gold PropertyPUSLINCH, ON / ACCESSWIRE / February 14, 2020 / Spruce Ridge Resources Limited (TSXV: SHL) (\"Spruce Ridge\" or \"the Company\") is pleased to announce that it has commenced a new, detailed, helicopter-borne EM and magnetic survey of the 2,870-hectare Great Burnt copper-gold project in south-central Newfoundland. The survey, carried out by Balch Exploration Consulting Inc., will comprise approximately 1,100 line kilometres, with 50-metre line spacing, using a Triumph AirTEM™ time-domain electromagnetic system.The new survey will provide better detection of lower-conductivity mineralized zones like the Great Burnt Main copper zone, than a previous airborne survey dating from 2007. The Great Burnt property has been explored at various times since the 1960s, but lack of natural outcrop has inhibited any structural analysis. The closer line spacing of the new airborne survey is expected to give better resolution of structural complexity that may have affected the location and continuity of mineralized zones.Great Burnt Underground Mineral Resource Estimate at 0.90% CuEq Cut-Off(1-5)ClassificationTonnes (k)Cu Au CuEq Cu Au CuEq Mlbs%g/t%MlbskozGreat Burnt DepositIndicated5502.66Nil2.6632.3Nil32.3Inferred5722.41Nil2.4130.4Nil30.4South Pond \"A\" DepositIndicated2191.261.011.956.17.19.4Inferred2031.090.981.764.96.47.9TotalIndicated7692.260.292.4638.47.141.7Inferred7752.060.262.2435.36.438.3Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, although Spruce Ridge is not aware of any such issues. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines. The 0.90% Cu cut-off...