TORONTO, Jan. 9 /CNW/ - Spruce Ridge Resources Ltd. (TSX-V: SHL) announces a new discovery of uranium mineralization on its Turner's Ridge property in north western Newfoundland about 60 kilometres northeast of its previously announced uranium discovery. The Determination Zone has been found in outcrop over an area of 110 metres by 22 metres. The average assay result of eleven grab samples is 0.156% U(3)O(8) or 3.12 pounds per ton.
The Determination Zone was found by prospectors from ASK Prospecting and Guiding Inc. during follow-up of radiometric anomalies located by an airborne magnetic/EM/gamma-ray spectrometer survey flown in the summer of 2006. It is exposed on the side of a ridge within sight of a main highway. The eleven samples taken returned assay results from 0.043% to 0.274% U(3)O(8), with an average of 0.156% U(3)O(8) or 3.12 pounds per ton. Anomalous gold and nickel values are associated with the mineralization.
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UTM UTM U3O8 U3O8 Gold Nickel
Tag No. Northing Easting % pounds/ton ppb ppm
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176301 5497678 499172 0.265% 5.30 24 less than 50
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176302 5497678 499178 0.124% 2.49 20 902
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176303 5497678 499175 0.218% 4.35 38 less than 50
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176304 5497699 499180 0.259% 5.18 29 less than 50
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176305 5497630 499132 0.132% 2.63 112 117
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176306 5497630 499132 0.044% 0.89 less than 5 24
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176307 5497615 499133 0.043% 0.86 30 5
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176308 5497598 499137 0.275% 5.50 82 less than 50
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176309 5497608 499123 0.079% 1.57 109 15
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176310 5497624 499137 0.078% 1.55 167 13
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176311 5497606 499121 0.201% 4.02 54 390
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The host rock appears to be a felsic pyroclastic rock affected by intense clay alteration. The principal alteration mineral has been identified by reflectance spectroscopy as illite. Illite is one of the commonest alteration minerals associated with unconformity-related uranium mineralization in the Athabasca Basin of Saskatchewan.
The mineralization was found in pre-Carboniferous basement rocks at the northern margin of the Deer Lake Basin. It occurs in a wedge-shaped area between two fault structures: the Doucer's Valley fault and the Wigwam fault. The airborne magnetic survey shows offsets of nearby magnetic units suggesting the existence of an east-northeasterly trending cross-fault. The Determination Zone lies approximately 26 kilometres north of the high grade uranium-silver-gold bearing boulders being explored by Altius Minerals and JNR Resources.
Following the airborne geophysical survey of the original Turner's Ridge property and the recognition of numerous airborne radiometric anomalies, Spruce Ridge has staked additional claims and now holds a total of 20,225 hectares covering a 45 kilometre strike length extending north and south from Turner's Ridge. The discovery of the Determination Zone has shown this structural corridor to be prospective for uranium mineralization in pre-Carboniferous basement rocks.
The Turners Ridge property is contiguous with the 51,900 hectares held by Spruce Ridge in the Deer Lake Basin to the south. The Deer Lake property covers over 90% of that part of the basin underlain by sedimentary rocks of the Rocky Brook Formation. The Rocky Brook Formation hosts the strata-bound uranium mineralization of the North Brook Zone (see news release of November 1st and October 25, 2006).
The company plans a major exploration program of both the Deer Lake Basin and the Turner's Ridge uranium discoveries. Planned activities for 2007 include diamond drilling, airborne radiometric, magnetic and EM surveys, intensive prospecting, geological mapping and geochemical surveys.
Assays quoted in this news release for the six samples with less than 0.15% U(3)O(8) were performed by Accurassay Laboratories of Thunder Bay, Ontario using ICP techniques. The five samples containing over 0.15% U(3)O(8) were assayed by Activation Laboratories of Ancaster, Ontario using NAA, DNC and XRF methods. Assays quoted above from the latter group are averages of results from the three methods. Technical information in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a director of the Company and a Qualified Person as defined in NI43-101.
About Spruce Ridge Resources Ltd.
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The Company is a mineral exploration company focused on the acquisition, exploration, and development of mineral resources, primarily uranium, gold and base metals.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.