Spruce Ridge Resources Begins Drilling the Great Burnt Copper/Gold Property in South Central Newfoundland

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[{"type":"text","content":"Spruce Ridge Resources Begins Drilling the Great Burnt Copper/Gold Property in South Central NewfoundlandWELLINGTON COUNTY, ON / ACCESSWIRE / November 20, 2018 / Spruce Ridge Resources Ltd. (TSXV: SHL) (\"Spruce Ridge\" or the \"Company\") is pleased to announce that drilling has begun on its 100% owned Great Burnt copper-gold Volcanogenic Massive Sulphide (VMS) property in South Central Newfoundland. The diamond drill program will comprise approximately 1,500 metres.The current drill program will focus on two newly identified, previously untested EM anomalies with similar characteristics to the Great Burnt copper-gold deposit, as well as filling in gaps in the historical drilling patterns on the Great Burnt deposit itself. John Ryan, Spruce Ridge's President and CEO commented: \"We look forward to the results of drill testing previously overlooked anomalies on this exceptionally well mineralized property. Also, infill drill holes on the Great Burnt Main Zone will help to firm up mineral resource estimates, provide additional data on gold grades and provide material for metallurgical testing that will support a planned Preliminary Economic Assessment (PEA) on the Great Burnt deposit.\"The newly identified anomalies come from a re-assessment of a 2007 helicopter-borne AeroTEM survey flown for a previous operator over the Great Burnt property, by Steve Balch, P. Geo., President and founder of BECI, a geophysical services and development company. Re-interpretation of the historical airborne data revealed a number of untested EM anomalies with similar characteristics to the EM response of the Great Burnt copper-gold deposit. It also identified areas that had been previously mapped as granite, which may be underlain by volcanic and sedimentary rocks similar to those hosting known mineralized zones.The Great Burnt Property is host to the road accessible Great Burnt copper-gold deposit. A 2015 NI 43-101 technical report by P&E Mining Consultants identified Indicated Mineral Resources in the Great Burnt Main and Lower Zones of 382,000 tonnes with an average grade of 2.68% copper, plus Inferred Mineral Resources of 663,000 tonnes averaging 2.31% copper. A \"starter pit\" identified by P&E includes an Indicated Mineral Resource of 237,000 tonnes at 2.51% copper. Historical drilling provides insufficient gold assay data to allow es...

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