Spruce Ridge Resources Limited
16.7.2021 13:32:44 CEST | ACCESS Newswire | Press release
PUSLINCH, ON / ACCESSWIRE / July 16, 2021 / Spruce Ridge Resources Ltd. (TSX-V:SHL) (the "Company") is pleased to announce that work has begun on the access trail from Great Burnt Main Zone to South Pond "B" Gold Zone and continues on to the South Pond "A" Copper/Gold Zone. Once the trail reaches the South Pond "B" Gold Zone drill sites will be cleared and drilling will commence.
Results of historical drilling on the South Pond "B" Zone by BP Minerals in 1987 and 1989 included the following: 27.25 metres averaging 1.06 grams of gold per tonne (g/t Au) in hole GB87-08, 4.33 metres of 4.43 g/t Au in GB87-12 and 17.13 metres of 1.11 g/t Au in GB89-06. The map below shows the locations and gold intersections in the BP drill holes.
CEO John Ryan stated "Spruce Ridge's decision to carry out additional diamond drilling on the South Pond "B" Gold Zone is a timely one. Recent discoveries by New Found Gold Corp., Sokoman Minerals Corp. and others, have highlighted the potential of the Paleozoic sedimentary and intrusive rocks of Central Newfoundland to host substantial zones of high-grade gold. Questions remain about the results of the BP Minerals drill programs in the 1980s, which used ICP analysis for gold, instead of the more popular, and more reliable fire assay procedure. We did some re-analysis of BP's archived core in 2016, which showed that the ICP method appeared to have understated the gold content of samples previously analyzed by BP. A single row of historical drill holes with gold values over a length of over a kilometre is a good starting point to work towards defining a gold deposit."
Technical material in this news release has been prepared and/or reviewed for accuracy by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101 and Vice-president of Exploration for the Company.
Acknowledgments
Spruce Ridge acknowledges the financial support of the junior exploration assistance program, department of natural resources and government of Newfoundland and Labrador
Stock Options Granted
The Company, subject to regulatory approval is granting six million incentive stock options to certain officers, directors, consultants and employees of the company to purchase up to a total of six million common shares of the company at a price of 15 cents per common share for a period of five years. The options vest immediately and are subject to a four-month hold period from the date of grant.
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 sold its interest in in the Crawford Nickel-Cobalt Sulphide project to Canada Nickel Company Inc. but retained ground which contains VMS and gold targets. Spruce Ridge holds 8,100,000 shares of Canada Nickel Company and 10,000,000 shares of Noble Mineral Exploration Inc. Spruce Ridge has an option agreement with Magna Terra Minerals Inc. on its Viking/Kramer gold properties in Western Newfoundland.
For further information please contact:
John Ryan, President & CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: spruceridgeresources@gmail.com
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Spruce Ridge Resources Limited
View source version on accesswire.com:
https://www.accesswire.com/655813/Spruce-Ridge-Begins-Access-Trail-to-South-Pond-B-Gold-Zone
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Chervon Names Devin Murray Director of Sales - Northern Division19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Devin Murray joins Chervon as Director of Sales - Northern Division, effective October 19, 2026, reporting to Thomas Kentouris, Vice President of Field Sales. Murray joins Chervon after completing a six-year fast track career in TTI sales and sales management. Most recently, he was a Key End User Account Manager for Milwaukee charged with growing the pro tool business with large end users. Murray's exceptional recruiting skills and leadership skills enabled him to build, manage and inspire highly effective sales teams at the store level. His account management prowess resulted in outstanding sales results and strong partnerships with multiple national accounts. "Early in his impressive career, Devin was identified as a high potential future superstar executive," said Thomas Kentouris. "His large end user pro tool experience is exactly what we need to help build our pro tool leadership position. His inspiring leadership skills combin
Chervon Names Krystle Adams Director of Sales Recruiting19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Krystle Adams joins Chervon as Director of Sales Recruiting, effective October 19, 2026, reporting to Matt DeFeo, SVP of Sales, Training and Recruiting. Over the past 9+ years, Adams has advanced through a series of increasingly responsible sales and recruiting positions at TTI. Earlier in her impressive career, Krystle distinguished herself as an outstanding sales representative and sales manager delivering consistently strong results. Most recently, she was a National Recruiting Operations Manager responsible for leading, coordinating, and implementing recruiting efforts across campuses nationwide. Krystle has demonstrated exceptional skills in developing and leading campus and field sales recruiting efforts. She also designed and executed a thriving national college internship program. "I feel incredibly fortunate to now have Krystle Adams in place to launch Chervon campus recruiting," said Matt DeFeo, SVP of Sales, Training and
Chervon Names Terry Lucero Director of National Accounts - Industrial19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Terry Lucero joins Chervon as Director of National Accounts - Industrial, effective October 19, 2026, reporting to Jeff Campbell, Senior Vice President of Industrial Commercial Sales. Lucero brings 25+ years of extensive experience in building professional tool businesses at national accounts, regional accounts, at the store level and at the end user level. Lucero started his career at Dewalt where he advanced through a series of sales, sales management and end user marketing positions over 5 years driving professional tool growth. Lucero went on to WW Grainger where he progressed through a series of business development and sales management positions. He was also a sales manager of professional equipment at United Rentals. Most recently, Lucero served as a director of sales at APEX Tool Group for the Americas. "Terry's impressive pro tool experience in industrial distribution, national account management and end user marketing make
Tenstorrent Announces a $1.5B Series E at a $6.2B Valuation19.10.2026 14:00:00 CEST | Press release
SANTA CLARA, CA / ACCESS Newswire / October 19, 2026 / Tenstorrent, the AI computing company, has closed $1.5B in Series E funding at a $6.2B post-money valuation. The round was led by Trace Capital and Innovation X, with participation from new and existing investors including Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price*, Tether Investments, Troluce Capital, Virtu Financial, and XTX Markets. Tenstorrent will use the capital to deploy Galaxy servers at scale, continuing to serve open-weight models across LLMs and video generation, and advance the AI and CPU IP it licenses to customers designing their own silicon. Tenstorrent sells AI compute at every level of the stack - from a single card or workstation to racks, superclusters, and custom IP. With an open-source software stack, developers can run frontier models locally and enterprises can deploy mode
OxyDew Analyzer: One Compact Instrument, Two Critical Gas Measurements19.10.2026 08:00:00 CEST | Press release
NAVAN, IE / ACCESS Newswire / October 19, 2026 / DwyerOmega introduces the new Ntron OxyDew Analyzer, a fully integrated solution that combines oxygen and moisture dew-point measurement in a single, compact wall-mountable analyzer. The result: fewer instruments to install, wire, and maintain, without sacrificing the accuracy and reliability that critical gas quality monitoring demands. By uniting two proven sensing technologies in one instrument, OxyDew cuts equipment costs, simplifies installation, and reduces ongoing maintenance, all without compromising performance. Operators monitor oxygen concentration and dew point simultaneously through a 3-inch color touchscreen, giving them a single point of control instead of two separate systems. OxyDew is available now throughout Europe and Asia Pacific. Integrated Dual Measurement for Reliable Process Monitoring At the heart of OxyDew is the integration of the proven Ntron SenzTx Oxygen Transmitter and Michell Easidew Dew-Point Transmitter
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom