PUSLINCH, ON / ACCESSWIRE / September 19, 2019 / Spruce Ridge Resources Ltd. (TSXV:SHL) - ("Spruce Ridge" or the "Company") is pleased to announce that Spruce Ridge, with its joint venture partner, a group of sophisticated private investors, has commenced a second phase of diamond drilling on the Crawford nickel property, 40 kilometres north of Timmins, Ontario.
Full results from the first phase of drilling at Crawford was disclosed in a news release dated March 1, 2019. Highlights from the first phase of drilling:
- Discovery Hole (18-01) Intersected 291 metres averaging 0.293% Ni, 118 ppm Co, 0.02 g/t Pd and 0.011 g/t Pt
- Drill Holes18- 03 and -04 Ended in Mineralization with Increasing Grade
The phase 2 drilling program is planned to comprise approximately 4,000 metres of drilling in eight holes. Planned drill holes include infill drilling between the 2018 holes, as well as stepouts to the northwest and southeast.
Spruce Ridge and its joint-venture partner, have the option to earn up to 75 percent interest in 2,000 hectares of the Crawford project from Noble Mineral Exploration Ltd.
Technical material in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101. Analyses quoted in this news release were performed by Activation Laboratories Ltd. ("ActLabs") in their Timmins and Ancaster facilities.
About Spruce Ridge Resources Ltd.
Spruce Ridge holds a 100% interest in the Great Burnt Copper-Gold Property in Central Newfoundland which covers a series of copper ± gold rich VMS deposits. Spruce Ridge and its joint venture partner, a private investor group, are currently drilling magnetic and EM anomalies in a complex of ultramafic and mafic intrusive rocks that have been interpreted as prospective for nickel mineralization, on the optioned Crawford property 45 kilometres north of Timmins, Ontario. In 2015, Spruce Ridge optioned its Viking/Kramer gold properties in Western Newfoundland to Anaconda Mining Inc. The Company also has a 50% joint venture with Americas Silver Corporation on property that contains tailings with low grade gold and silver from the Drumlummon Mine in Montana.
For further information please contact:
John Ryan, President and CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: [email protected]
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Spruce Ridge Resources Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Spruce Ridge Resources Ltd. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Spruce Ridge Resources Ltd.