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Spruce Ridge Resources Cuts 25.441 Grams of Gold Per Tonne Over 0.50 Metres at Kramer Property, Newfoundland
(via Thenewswire.ca) Norfolk County, Ontario / TNW-ACCESSWIRE / March 28, 2014 - Spruce ...
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[{"type":"text","content":"Spruce Ridge Resources Cuts 25.441 Grams of Gold Per Tonne Over 0.50 Metres at Kramer Property, Newfoundland(via Thenewswire.ca)\n\n \nNorfolk County, Ontario / TNW-ACCESSWIRE / March 28, 2014 - Spruce Ridge Resources Limited (TSXV: SHL) (\"Spruce Ridge\") is pleased to announce the results of its winter diamond drilling program carried out on the Kramer gold property in western Newfoundland. The highlight of the program was a high grade gold-bearing vein cut by drill hole KR13-17 which assayed 25.441 grams of gold per tonne (g/t Au) over a core length of 0.50 metres. The Kramer property is contiguous with the Thor-Viking gold property that Spruce Ridge acquired from Northern Abitibi Mining Corp. in 2013 (see news release 2013-07 dated December 13th, 2013).\n\n \n \nThe drilling program comprised 14 holes totaling 2,051.8 metres. Eight holes totaling 1,389.5 metres were drilled to test the Kramer Northeast mineralized zone over a length of 300 metres. A further six holes totaling 662.3 metres tested the Kramer East zone over a length of 175 metres.\n\n \n \nMineralization encountered in the winter drill program is associated with widespread alteration and quartz stockwork development in Precambrian granitic intrusive rocks. However, the mineralization is probably of Paleozoic age, since it is also developed locally in Cambrian sedimentary rocks that overlie the Precambrian granites. Mineralization appears to preferentially favour fine-grained phases of granite although it is present in all varieties of the intrusive complex.\n\n \n \nEvery drill hole encountered widespread alteration, and at least one section (with up to a maximum of 13 separate intervals) of mineralization assaying over 0.1 g/t Au. Several drill holes encountered wide sections of alteration and low-grade gold mineralization, the widest being 13.00 metres averaging 0.168 g/t Au in hole KR13-27. The high grade vein in hole KR13-17 has a different character in that it carried galena and free gold, which distinguishes it from the more extensive lower grade material, which carries only pyrite. Similar veins with galena as well as chalcopyrite are present at the Thor zone, which has a 43-101 compliant mineral resource of 98,000 ounces indicated grading 0.95 g/t Au plus 45,000 ounces inferred at 0.66 g/t Au, as well as at the Whisky Jack and original Kramer discoverie...