NORFOLK COUNTY, ON, Feb. 27 /CNW/ - Spruce Ridge Resources Ltd. (SHL:TSX-V) today announced additional drill results returned from its 2,000 metre shallow diamond drilling program at its Nora Lake gold property. The Nora Lake property, (89%-owned by Spruce Ridge), lies in the Beardmore-Geraldton gold camp approximately 20 km south of Kodiak Exploration Ltd's Hercules and Golden Mile gold discovery in northern Ontario.
Assay results have now been received from drill holes NL-06-07 to NL-08-07. Hole NL-08-07 intersected 8.072 gpt gold over 1.3 metres. Hole NL-07-07 intersected 1.518 gpt gold over 2.5 metres and 1.389 gpt over 4.5 metres. The mineralized interval occurs at the contact between altered and sheared mafic volcanics and an intrusive quartz-feldspar porphyry. Mineralization is associated with quartz veining, pervasive silicification and heavily disseminated arsenopyrite. Management is very pleased with the early success of this initial drilling program. An aggressive drilling program will resume in the spring. John Ryan, President and CEO stated, "I am very excited about the early results on the Nora Lake drill holes. I am looking forward to furthering the drill program in the spring."
ASSAY RESULTS
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Intercept
Hole No. From To metres Au g/t
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NL-06-07 38.6 40.5 1.9 1.088
45 46 1.0 0.663
47 48 1.0 1.057
NL-07-07 16.5 21 4.5 1.389
23.25 25.75 2.5 1.518
NL-08-07 22 23 1.0 1.286
27.5 26.8 1.3 8.072
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The Nora Lake mineralized zone consists of mafic volcanics cut by an irregular body of quartz porphyry; both rock types are intensely sheared, carbonatized and silicified and cut by irregular quartz tourmaline veins, and carry disseminated to heavy pyrite and arsenopyrite. The main stripped area exposes mineralization over a length of 130 metres and a width of at least 44 metres. Additional stripping on strike to the east and west gives the zone a minimum length of 240 metres.
Stripping in 2007 extended the main trench to the northwest and southwest, where a newly exposed contact zone of the porphyry intrusion was found to be well mineralized with pyrite, arsenopyrite and free gold. Channel sampling gave an average of 17.43 grams of gold per tonne 1.2 metres within a 6.5 metre channel that averaged 3.94 g/T Au.
All diamond drill holes completed to date are under the main trench.
Technical information in this news release has been compiled and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a director of the Company and a Qualified Person as defined in NI43-101. Widths of assayed samples are core lengths; true widths will be determined when the structure has been resolved. Assays quoted in this news release were performed at Accurassay Laboratories in Thunder Bay, Ontario using fire assay preparation on 30-gram splits, followed by AA finish.
About Spruce Ridge Resources Ltd.
Spruce Ridge Resources Ltd. is a mineral exploration company engaged in locating, acquiring and exploring for mineral resources, primarily gold and uranium. The Company has three prospective gold properties in Northern Ontario at Nora Lake, Knucklethumb, and Spruce Hull Lake. The Company also has two prospective uranium properties in Western Newfoundland, Canada: (i) the Deer Lake Basin property and (ii) the Turner's Ridge uranium, lead and gold property approximately 30 kilometres to the north. Shares outstanding are 22,114,182.
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