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Spruce Ridge Begins 2022 Drilling at South Pond Copper-Gold Property
(TheNewswire) July 19, 2022 – TheNewswire - Spruce Ridge Resources Ltd. (T...
About this update from Homeland Nickel Inc
[{"type":"text","content":"Spruce Ridge Begins 2022 Drilling at South Pond Copper-Gold Property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n July 19, 2022 – TheNewswire -\n \n \n Spruce Ridge Resources Ltd. (TSXV:SHL)\n \n \n (OTC:SRCGF)\n \n \n (“Spruce Ridge” or the\n“Company”) is pleased to announce it is preparing for a diamond\ndrilling program of up to 6,000 metres on the South Pond copper and\ngold deposits on its 100 percent owned Great Burnt property in\nsouth-central Newfoundland. Equipment is being mobilized, and drilling\nis expected to start in mid-August.\n \n \n \n \n The South Pond “A” copper-gold zone was discovered\nand drilled in the early 1950s, by the Buchans Mining division of\nAsarco. It was followed by a second drilling program in 1969-70.  At\nthe time, there was little interest in gold, and their drill core was\nonly assayed for copper. In 1986-89, BP-Selco had acquired the\nproperty, and they assayed the core, which had been archived at the\nBuchans mine site, for gold. The discovery hole, SP-01 intersected a\n34.14 metre core length of 0.60% Cu and 0.48 grams per tonne (g/t) Au,\nincluding 1.46 metres of 3.68% Cu and 1.83 g/t Au. Among other\nintersections was hole SP-29, which cut a core length of 5.18 metres\nat 2.77% Cu and 1.23 g/t Au. The “A” Zone was traced by drilling\nfor a length of 450 metres, although the deepest mineralized\nintersection was only 84 metres below surface.  In 2002, Celtic\nMinerals drilled a single 250-metre hole.\n \n \n \n \n The 2021 PEA on the Great Burnt project (see news\nrelease of February 23rd , 2022) included Mineral Resource\n \n \n \n \n estimates.  The Indicated Resource of the South Pond\n“A” Zone is 214,000 tonnes @ 1.26% Cu and 1.21 g/t Au, and the\nInferred Resource is 145,000 tonnes @ 1.07% Cu and 1.02 g/t Au.\n \n \n \n \n Our experience at the Great Burnt copper deposit was\nthat modern drilling yielded, on average, significantly (20 to 30\npercent) higher grades than was reported from small-core, non-wireline\nholes drilled in the 1960s.  This is because, in the historic drill\nholes, core recoveries in the mineralized zone were poor, and the\nsulphide minerals are believed to have been ground up and\npreferentially lost. New drilling on the South Pond  ...