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Spruce Ridge Begins Magnetic Gradiometer Survey Over Recently Acquired Property in Newfoundland
(TheNewswire) November 29, 2021 - TheNewswire - Spruce Ridge Resources Lt...
About this update from Homeland Nickel Inc
[{"type":"text","content":"Spruce Ridge Begins Magnetic Gradiometer Survey Over Recently Acquired Property in Newfoundland\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n November 29, 2021 - TheNewswire -\n \n \n Spruce Ridge Resources Ltd. (TSXV:SHL)\n \n \n (OTC:SRCGF)\n \n \n (“Spruce Ridge” or the\n“Company”)\n \n \n is pleased to announce the\nbeginning of Magnetic Gradiometer Survey over newly acquired property\n(See news release dated September 14, 2021) which is contiguous to the\ncurrent Great Burnt Copper-Gold Property.\n \n \n \n \n The newly acquired claims cover a large, previously\nunexplored area underlain by Lower Paleozoic siliciclastic rocks,\nsimilar to those hosting recently discovered gold deposits on the\nQueensway Project of New Found Gold Corp. and the Moosehead Project of\nSokoman Minerals Corp.  Re-interpretation of province-wide airborne\nmagnetic data has indicated previously undocumented structural\ncomplexity, including a regional-scale fold and possible crustal-scale\nfault structures similar to the structures that are now known to\nlocalize gold mineralization in Central Newfoundland.  The fold\nfeature may cause the mineralized horizon containing the Great Burnt\ncopper deposit and the South Pond gold and copper-gold zones to be\nrepeated on the western limb.  Local magnetic anomalies have been\ninterpreted as possible ophiolite slivers along a northeast-trending\nstructure that may be similar to the GRUB line.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure 1: Spruce Ridge Resources Great Burnt Lake\nProperty with Highlighting of Newly Acquired Claims.\n \n \n \n \n Colin Bowdidge, Ph.D, P.Geo.,\nDirector and Officer is a \"Qualified Person\" under National\nInstrument 43-101 and the Vice President, Exploration of Spruce Ridge\nhas reviewed and approved the technical contents of this press\nrelease.\n \n \n \n \n About Spruce Ridge Resources Ltd.\n \n \n \n \n Spruce Ridge holds a 100% interest in the Great Burnt\nCopper-Gold Property in Central Newfoundland which covers a series of\ncopper ± gold rich VMS deposits.  Spruce Ridge recently\n \n \n acquired certain mineral leases with petroleum and natural\ngas rights, plus oil and gas wells, pipelines and facilities in the\nUnity area of southwestern Saskatchewan. Included in the purchase are...