Spruce Ridge Resources is pleased to announce it is preparing for a diamond drilling program of up to 6,000 m on the South Pond copper and gold deposits on its 100 percent owned Great Burnt property. Equipment is being mobilized, and drilling is expected to start in mid-August. The South Pond "A" copper-gold zone was discovered and drilled in the early 1950s, by the Buchans Mining division of Asarco. It was followed by a [...]
Spruce Ridge Resources is pleased to announce the filing on SEDAR of a Preliminary Economic Assessment for its wholly-owned Great Burnt Copper-Gold project. Results of the PEA were previously announced in a Company news release dated February 23, 2022. The PEA, titled "Updated Mineral Resource Estimate and Preliminary Economic Assessment of the Great Burnt Copper-Gold Property, Central Newfoundland" , was prepared in [...]
Spruce Ridge Resources Ltd. 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 in hole SP21-01, 15.00 metres of 2.36 g/t Au in SP21-03, 21.20 metres of 1.75 g/t Au in [...]
Spruce Ridge Resources Ltd. is pleased to announce that it has received milestone option payments from Magna Terra Minerals Inc. per the Amended Option Agreements for the Viking and Kramer Properties. The option payment consideration of $75,000 consisted of a cash payment of $51,388.78 as well as the issuance by Magna Terra to Spruce Ridge of 185,186 units of Magna Terra; each unit consisting of 1 common share and [...]
Spruce Ridge Resources is pleased to announce that it has received the results of a Preliminary Economic Assessment on the Company's wholly-owned Great Burnt Copper-Gold Project. The PEA is incorporated in a Technical Report, with an updated Mineral Resource Estimate that has an Effective Date of January 17th, 2022, prepared by P&E Mining Consultants John Ryan, CEO of Spruce Ridge, stated "We are very encouraged to have [...]
Spruce Ridge Resources Ltd. - is pleased to announce it has completed a high resolution airborne magnetic gradiometer survey over its "Foggy Pond" gold and base-metals property covering an area of 19,175 ha from 767 claims which are contiguous to the Company's Great Burnt Copper-Gold Property. The newly acquired claims cover a large, previously unexplored area underlain by Lower Paleozoic siliciclastic rocks, similar to [...]
Spruce Ridge Resources Ltd. is pleased to announce the beginning of Magnetic Gradiometer Survey over newly acquired property which is contiguous to the current Great Burnt Copper-Gold Property. The newly acquired claims cover a large, previously unexplored area underlain by Lower Paleozoic siliciclastic rocks, similar to those hosting recently discovered gold deposits on the Queensway Project of New Found Gold Corp. and [...]
Spruce Ridge Resources Ltd. - announces that it has completed the previously announced in-specie dividend distribution of an aggregate of 2,505,024 common shares of Canada Nickel Company Inc. . Immediately prior to the completion of the Dividend, Spruce Ridge held, directly or indirectly, 8,100,000 CNC Shares, representing on a non-diluted and partially diluted basis approximately 9.15% of the CNC Shares then issued and [...]
1Spruce Ridge Resources Ltd. is pleased to announce the declaration of a dividend-in-kind of 2,500,000 of the 8,100,000 common shares of Canada Nickel Company Inc. held by Spruce Ridge, previously announced on July 27, 2021 and postponed on September 3, 2021. The Dividend is payable on or before November 5, 2021 to holders of record of Spruce Ridge shares at the close of business on October 29, 2021 . This Dividend will be the second payable as the first Dividend of 2,500,000 shares were distributed In September 2020. The CNC Shares were acquired by Spruce Ridge in connection with the previously announced sale of its interest in the Crawford Nickel-Cobalt Sulphide project, details of which are contained in the Company's previous news releases issued on October 1, 2019 and Feb... [...]
Spruce Ridge Resources Ltd. - is pleased to announce that its wholly owned subsidiary Spruce Ridge Oil & Gas Inc. has shipped its first load of oil to a refinery. The current contract we have with our customer is to supply 75m3 at $78.13 USD per barrel or $491.44 USD per m3 less deductions and before royalties. The revenue for the first shipment will be approximately $11,867 CDN. A second delivery of oil is expected on [...]
Spruce Ridge Resources Ltd. is pleased to announce that it has mobilized a diamond drill to the South Pond "B" Gold Zone on the Great Burnt property in Central Newfoundland. A 3,000 metre drilling program is planned to test gold mineralization, which has not had any work in the last 20 years. The South Pond "B" Gold Zone is 9 kilometres north of the Great Burnt Copper Deposit, on which a Preliminary Economic Analysis is [...]
Spruce Ridge Resources Ltd. - is pleased to announce it has acquired from a private company 767 claims totaling 19,175 hectares which are contiguous to the current Great Burnt Copper-Gold Property. With this new addition, Spruce Ridge's land position has increased to 26,000 hectares. The newly acquired claims cover a large, previously unexplored area underlain by Lower Paleozoic siliciclastic rocks, similar to those [...]
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