Friday, April 10, 2020

Spruce Ridge Resources Profile

Spruce Ridge Resources Ltd., an exploration-stage company, engages in the acquisition and exploration of mineral properties in North America. It explores for gold, copper, and silver deposits. The company holds a 100% interest in the Great Burnt copper gold property located in central Newfoundland. It also holds an option to acquire interests in the Nora Lake property located in Ontario; and Metals Creek and Viking/Kramer gold properties located in Western Newfoundland.

Spruce Ridge Resources
Stock SymbolTSX.V: SHL, OTC: SRCGF
SEDAR ProfileSEDAR - Spruce Ridge Resources Ltd.
Investor DeckGreat Burnt Copper-Gold project, Newfoundland
Company ProjectsGreat Burnt: A 100% owned volcanogenic massive sulphide (VMS) deposit in central Newfoundland’s highly prospective, base-metal-rich greenstone belt, consisting of 4 prospective zones:
1) The Great Burnt Zone (Copper).Indicated Resource of 381,300 tonnes at 2.68% Cu, Inferred Resource of 663,100 tonnes at 2.10% Cu* and open at depth.
2) South Pond “A” Zone (Copper, Gold)
3) South Pond “B” Zone (Gold)
4) End Zone Prospect (Copper)

Crawford Nickel-VMS Project: Project 81 is a 70,000 hectares connecting land package covering 12 townships located 2-3 km north of the world class Kidd Creek Mine in Ontario. A 2018 drilling program begun by Spruce Ridge and its Joint Venture partners, was focussed on the Crawford Ultramafic Complex of main primary targets having been defined by helicopter- magnetic, electromagnetic surveys and airborne gravity surveys, all conducted over of the entire project area. On July 16, 2018 Spruce Ridge released details of an Artificial Intelligence (A.I.) review of data, undertaken by Noble Mineral Exploration (NOB) and provided by Albert Mining Inc. (TSX-V AIIM). The A.I. refined and further identified several area as potential hosts for nickel using Computer Aided Resources Detection Software (CARDS) “Artificial Intelligence (AI)” Technology and Data Mining Techniques on the Crawford Township property. Initial drilling results released March 1, 2019. First Discover Hole (18-01) Intersected 291m assaying 0.293% Ni, 118 ppm Co, .02 g/t Pd and .011 g/t Pt

Drumlummon Tailings, Montana: Joint venture with Americas Silver Corp. was formed to acquire 400 acres of patented mining claims covering an overall length of about 5 miles and adjacent to Americas Silver Corp’s Drumlummon Mine near Marysville, Montana

The Viking Gold Project: Viking & Kramer Properties Optioned to Anaconda Mining. February 10, 2016 Spruce Ridge optioned the Viking & Kramer gold properties (The Viking Project) to Anaconda Mining Inc. (TSX: ANX)
Spruce Ridge retains a 0.5% Net Smelter Returns royalty (“NSR”) on the sale of gold from Viking and a 2% NSR on the sale of gold from Kramer

Nora Lake Gold Property, Ontario: Mineralized zone consists of mafic volcanics cut by an irregular body of quartz porphyry.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 g/t Au 1.2m within a 6.5 m channel that averaged 3.94 g/t Au.

SHL Research Center