Potential Previously Understated
Spruce Ridge Resources Ltd (TSXV:SHL) has received promising assay results of a second hole – GB20-20 – of the recently completed 3,100m infill drilling programme of the Great Burnt Main Zone copper deposit on the wholly-owned Great Burnt project in central Newfoundland.
Hole GB20-20, like previous hole GB20-05, was selected for rush assaying because of the presence of massive to semi-massive chalcopyrite. The averages for GB20-20 are: 22.75m of 6.89% Cu, 0.79% Zn and 0.05 g/t Au, including 12.55m of 10.59% Cu, 1.27% Zn and 0.07 g/t Au, which in turn included 1.50m of 18.15% Cu, 1.98% Zn and 0.04 g/t Au. The GB20-20 intercept is 187m north and 108m higher than the previously reported intercept in hole GB20-05.
CEO John Ryan said this second high-grade intercept tends to confirm the company’s suspicion that historical drilling of the Great Burnt deposit in the 1960s may have understated the copper grades due to poor core recovery in the sulphide zone.”
“The zinc assays from GB20-20, although on the low side for VMS mineralisation, are also unusually high for this deposit,” Mr Ryan said.
“Most of the 1960s-vintage drill holes were not assayed for zinc, and there are insufficient recent (post-2001) drill holes to estimate an overall zinc grade distribution. True widths for this drill hole are estimated at between 50% and 60% of the core lengths.”
