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Spruce Ridge Mobilizes Drill to South Pond Gold Property, Central Newfoundland
(TheNewswire) TheNewswire - October 12, 2021 - Spruce Ridge Resources Ltd...
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[{"type":"text","content":"Spruce Ridge Mobilizes Drill to South Pond Gold Property, Central Newfoundland\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire - October 12, 2021 -\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 that it\nhas mobilized a diamond drill to the South Pond “B” Gold Zone on\nthe Great Burnt property in Central Newfoundland.  A 3,000 metre\ndrilling program is planned to test gold mineralization, which has not\nhad any work in the last 20 years.\n \n \n \n \n The South Pond “B” Gold Zone is 9 kilometres north\nof the Great Burnt Copper Deposit, on which a Preliminary Economic\nAnalysis is currently being prepared (see news release June 3, 2021).\n The South Pond “B” Gold Zone was drill tested by Asarco with two\nholes in the 1950s, but the core may not have been assayed for gold;\nthe main interest at the time was in copper and/or zinc.  The zone\nwas discovered by BP Minerals in 1987 and 1989, following up a soil\ngeochemical anomaly.  BP drilled 22 holes in 1987 and 1989, and\nCeltic Minerals drilled three additional holes in 2001.\n \n \n \n \n The South Pond “B” Gold Zone has been drill tested\nover a length of 1.3 kilometres.  It has yielded wide intersections\nsuch as 29.25 metres of 1.06 g/t Au in hole 87-08, in a wider zone of\n38.93 metres of 0.96 g/t Au, as well as higher grade intercepts such\nas 4.33 metres of 4.43 g/t Au in hole 87-12.  Unlike the structurally\ncontrolled, orogenic gold deposits that are currently being explored\nand developed elsewhere in Central Newfoundland, the South Pond\n“B” Zone appears to be a volcanogenic gold deposit hosted in mafic\nvolcanic and pyroclastic rocks and derived sediments.  As such, it\ncould make up in lateral continuity for what it may lack in occasional\n“bonanza” type gold assays.\n \n \n \n \n John Ryan, CEO stated “We’ve been wanting to drill\nthis gold zone for several years, but access has been something of a\nproblem.  In 2021, Spruce Ridge cleaned up an old trail, probably\ndating from BP’s work in the 1980s, that gives us access to the\nSouth Pond area.  Previous drilling was all done on 100-m...