Spruce Ridge Intersects 51 Metres Averaging 1.69 g/t Au at South Pond “B” Gold Zone
Spruce Ridge Resources Ltd.
7735 Leslie Road West, Puslinch, ON N0B 2J0
Telephone (519) 822-5904
Spruce Ridge Intersects 51 Metres Averaging 1.69 g/t Au at South Pond “B” Gold Zone
Spruce Ridge Resources Ltd. (TSX-V: SHL) (“Spruce Ridge” or the “Company”) is pleased to announce gold assay
results for all core samples from its 2021 diamond drilling program on the South Pond “B” gold zone, on its wholly-
owned Great Burnt property in Central Newfoundland. The results feature wide intervals of gold, including: 51.00
metres averaging 1.69 grams of gold per tonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au (including
4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of 1.75 g/t Au in SP21-08, 17.60 metres of 1.34 g/t Au
in SP21-11 and 21.00 metres of 2.06 g/t Au in SP21- 14. The lengths quoted are core lengths; true widths are
estimated to be approximately 70% of core lengths.
The following table lists all drill intercepts over 1 gram of gold per tonne from the 2021 drill program.
GOLD ASSAY RESULTS FROM 2021 DRILLING
SOUTH POND "B" GOLD ZONE
Hole No. Inclination From
(m)
To
(m)
Core
Length Au g/t
SP21-01 -50° 11.00 62.00 51.00 1.69
includes 19.00 62.00 43.00 1.82
which includes 50.00 61.00 11.00 3.19
and 11.00 14.00 3.00 2.07
SP21-02 -60° no results >0.54 g/t
SP21-03 -50° 12.00 13.00 1.00 2.11
and 19.00 22.00 3.00 2.92
and 53.00 68.00 15.00 2.36
includes 54.00 58.00 4.00 5.29
which includes 57.00 58.00 1.00 11.33
SP21-04 -60° 48.00 52.00 4.00 1.84
SP21-05 -50° 6.00 8.00 2.00 1.90
and 11.00 12.30 1.30 2.19
and 98.00 99.00 1.00 1.51
SP21-06 -65° 13.00 14.85 1.85 1.08
SP21-07 -50° 14.00 15.00 1.00 1.27
SP21-08 -50° 65.80 87.00 21.20 1.75
includes 65.80 81.00 15.20 2.20
includes 65.80 76.00 10.20 2.82
SP21-09 -65° no significant assays
SP21-10 -50° 10.00 11.00 1.00 1.04
SP21-11 -50° 22.00 24.00 2.00 1.29
and 33.00 34.00 1.00 1.44
and 46.40 64.00 17.60 1.34
includes 46.40 49.75 3.35 2.15
and includes 53.70 57.90 4.20 2.48
SP21-12 -65° 97.80 99.00 1.20 3.69
and 112.00 113.00 1.00 2.31
SP21-13 -50° 95.00 99.00 4.00 1.43
and 105.00 106.00 1.00 1.24
SP21-14 -50° 74.00 95.00 21.00 2.06
SP21-15 -65° no significant assays
SP21-16 -50° 32.00 42.00 10.00 1.72
SP21-17 -75° no significant assays
SP21-18 -60° no assays >0.82 g/t Au
T
he South Pond “B” gold zone was discovered by BP minerals in 1987 while following up a soil geochemical
anomaly, 9 kilometres north of the Great Burnt copper deposit. BP drilled it in 1987 and 1989. And Celtic Minerals
also drilled four holes on it in 2001. It comprises two 500-metre long lenses of mineralization separated by a 200
metre stretch that gave no significant results in the BP drilling. Spruce Ridge’s 2021 drill program consisted of
3,047 metres in 19 holes, of which 18 tested the northern lens of the South Pond “B” zone.
PRESS RELEASE 2022-03 April 6, 2022
Mineralization is hosted in bedded chert and silicified tuffs, with up to 25% of pyrrhotite, minor pyrite and
chalcopyrite. ICP analyses, including copper, have not bee n received to date . The deposit is believed to be
volcanogenic in origin. It is on strike with and contiguous to the South Pond “A” copper-gold zone, which has been
cited by previous workers as a volcanogenic massive sulphide (VMS) deposit.
John A. Ryan, CEO stated “We find these results very encouraging. No mineral resource estimate has been made
on the south Pond “B” gold zone, but the grades and widths from this program suggest that it could be a satellite
operation to the Great Burnt copper deposit, for which we recently received a positive PEA. South Pond “B” clearly
has the potential to add a significant number of gold ounces to the resource.”
Qualified Person and Technical Report
Colin Bowdidge, Ph.D., P.Geo. (ON and NL), Qualified Person as defined in NI43-101, has reviewed and approved the technical
information in this news release. Mr. Bowdidge is a director and VP Exploration of Spruce Ridge
About Spruce Ridge Resources Ltd.
Spruce Ridge holds a 100% interest in 26,640 hectares in Central Newfoundland, including:
• the 2,890-hectare Great Burnt VMS copper-gold property;
• the 4,575-hectare Pipestone nickel prospect and;
• the 19,175-hectare Foggy Pond property
In addition to its mineral assets, Spruce Ridge acquired leases with petroleum and natural gas rights, plus shut-in
oil and gas wells, pipelines, and facilities , in the Unity area of southwestern Saskatchewan and is in the process
of putting these assets back into production.
Spruce Ridge currently holds 5,594,955 shares of Canada Nickel Company Inc. and 10,000,000 shares of Noble
Mineral Exploration Inc.
For further information please contact:
John Ryan, President and CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: [email protected]
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