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Spruce Ridge Gives an Update on Company Exploration Activities and Plans: Drilling to Commence at Great Burnt Copper-Gold Property, Newfoundland
PUSLINCH, ON / ACCESSWIRE / June 26, 2020 / Spruce Ridge Resources Ltd. (TSXV:SHL) ("Spruc...
About this update from Homeland Nickel Inc
[{"type":"text","content":"Spruce Ridge Gives an Update on Company Exploration Activities and Plans: Drilling to Commence at Great Burnt Copper-Gold Property, NewfoundlandPUSLINCH, ON / ACCESSWIRE / June 26, 2020 / Spruce Ridge Resources Ltd. (TSXV:SHL) (\"Spruce Ridge\" or \"the Company\") is pleased to present this update on the Company's mineral exploration activities.Additional Infill Drilling on the Great Burnt Copper Deposit: The Company is planning to immediately commence a 3,000 metre program of infill diamond drilling on the Great Burnt Copper Deposit in central Newfoundland. The program is intended to firm up the Indicated and Inferred Mineral Resource estimate on the deposit.Previous infill drilling campaigns on the Great Burnt Copper Deposit in 2016 and 2018 resulted in an increase in the Inferred Mineral Resource from 382,000 tonnes of 2.68% Cu to 550,000 tonnes of 2.66% Cu (a 41 percent increase in contained copper from 23.0 to 32.3 million pounds). The Inferred Mineral Resource decreased by 11 percent from 34.2 to 30.4 million pounds of contained copper with a modest increase in grade (from 663,000 tonnes of 2.31% Cu to 572,000 tonnes of 2.41% Cu).The increase in tonnes and copper content of the Inferred Mineral Resource is due to (a) 91,000 tonnes having been upgraded from Indicated to Inferred Mineral Resource, (b) infill drill holes intersecting greater widths and higher copper grades than nearby historical holes and (c) reducing the cutoff grade from 1.0% Cu to 0.9% Cu without significant reduction in average grade, because of the higher grades in 2016-2018 drilling. It is conjectured that some of the 1960s-era drill holes at Great Burnt, which used mostly EX drill core (22 mm diameter) as well as \"standard\" (i.e. non-wireline) drilling may have failed to recover portions of the sulphide zone, which could have been susceptible to grinding and core loss. Management anticipates that additiona infill drilling with NQ core (47 mm diameter) and wireline technology could result in a further increase in Mineral Resource estimates for the Great Burnt Copper Deposit, as well as moving more Mineral Resources from the Inferred to the Indicated categoryPlanned Drilling on the South Pond Copper-Gold Deposits: The infill drilling at Great Burnt will be carried out under an existing exploration permit. The Company is applying for a new exploration p...