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Spruce Ridge Intersects 1 metre of 4.73 grams/tonne gold at Nora Lake
NORFOLK COUNTY, ON, Jan. 22 /CNW/ - Spruce Ridge Resources Ltd. (SHL:TSX-V) today announced addit...
About this update from Homeland Nickel Inc
[{"type":"text","content":"\n\n\n\nNORFOLK COUNTY, ON, Jan. 22 /CNW/ - Spruce Ridge Resources Ltd.\n(SHL:TSX-V) today announced additional drill results returned from its 2,000\nmetre shallow diamond drilling program at Nora Lake. The Nora Lake property\n(89%-owned by Spruce Ridge) lies in the Beardmore-Geraldton gold camp\napproximately 20 km south of Kodiak Exploration Ltd's Hercules and Golden Mile\ngold discovery in northern Ontario.\n\n\nAssay results have now been received from drill holes NL-02-07 and\nNL-05-07. Hole NL-02-07 intersected 4.732 gpt gold over 1.0 metre within a\nwider section averaging 2.888 gpt over 2.0 metres. Assay highlights for drill\nhole NL-05-07 were 2.315 gpt gold over 2.0 metres. Drill holes No.3 and No.4\nwere abandoned for technical reasons before they reached the projected zone.\nAssay results for holes 6 through 8 are pending. The mineralized interval\noccurs at the contact between altered and sheared mafic volcanics and an\nintrusive quartz-feldspar porphyry. Mineralization is associated with quartz\nveining, pervasive silicification and heavily disseminated arsenopyrite.\nDrilling was suspended in December due to cold weather and is expected to\nresume in February.\n\n\nThe property is underlain by volcanic rocks of the Beardmore-Geraldton\ngreenstone belt, which produced 4.2 million ounces of gold from 17 separate\nmines between 1935 and 1971. Recent gold discoveries by Kodiak Exploration\nLtd. and Roxmark Mines Ltd., among others, have begun to draw attention to\nthis previously under-explored belt.\n\n\n ASSAY RESULTS\n -------------\n --------------------------------------------\n Intercept Au\n Hole No. From To Metres g/t\n --------------------------------------------\n --------------------------------------------\n NL-02-07 28.00 30.00 2.00 2.888\n --------------------------------------------\n Incl. 1.00 4.732\n --------------------------------------------\n NL-05-07 45.50 46.50 1.00 1.407\n --------------------------------------------\n 49.50 51.50 2.00 2.315\n --------------------------------------------\n 58.00 59.00 1.00 0.668\n --------------------------------------------\n\n\nThe Nora Lake mineralized zone consists of mafic volcanics cut by an\nirregular body of quartz porphyry; both rock types are intensely sheared,\ncarbonatized and silicified and cut by irregular quartz tourmaline veins, and\ncarry dis...