NORFOLK COUNTY, ON, April 12 /CNW/ - Spruce Ridge Resources Ltd.
(SHL:TSX-V) is pleased to announce that it will be drilling two uranium
properties in Newfoundland this spring.
North Brook Property - Deer Lake Basin
The North Brook exploration will include up to 2,100 meters of drilling.
The drilling will test the anomalous radioactivity which was located over a
length of 798 metres in intermittent outcrops in the banks of North Brook (see
news releases dated October 25th and November 1st, 2006). Radiometric readings
over the mineralized area ranged from 6 to more than 100 times background.
Seven samples which were assayed by the Saskatchewan Research Council
contained .078% to 3.73% U(3)O8 (equivalent to 1.6 lbs/ton to 74.6 lbs/ton).
The near surface mineralization occurs in a 1 metre thick band of grey,
flat-lying sediment with pyrite and chalcopyrite. The outcrop samples
collected from the riverbank are weathered and may have experienced depletion
of some of their original uranium content by leaching.
Spruce Ridge's land holdings in the Deer Lake Basin consist of 2,174
claims or 55,350 hectares.
Determination Zone - Turner's Ridge
The Turner's Ridge exploration will include up to 600 metres of drilling.
The Determination Zone was found in outcrop over an area of 110 metres by 22
metres during follow-up of radiometric anomalies located by an airborne
magnetic/EM/gamma-ray spectrometer survey flown in the summer of 2006. Eleven
samples returned assay results from 0.043% to 0.274% U(3)O8, with an average
of 0.156% U(3)O8 or 3.12 lbs/ton (see news release dated January 9th, 2007).
Anomalous gold and nickel values are associated with the mineralization. The
host rock appears to be a felsic pyroclastic rock affected by intense clay
alteration. The principal alteration mineral has been identified by
reflectance spectroscopy as illite which is one of the commonest alteration
minerals associated with unconformity-related uranium mineralization in the
Athabasca Basin of Saskatchewan. The discovery of the Determination Zone has
shown this structural corridor to be prospective for uranium mineralization in
pre-Carboniferous basement rocks, possibly related to the Carboniferous
The mineralization was found in pre-Carboniferous basement rocks at the
northern margin of the Deer Lake Basin. It occurs in a wedge-shaped area
between two fault structures: the Douceurs Valley fault and the Wigwam fault.
The airborne magnetic survey shows offsets of nearby magnetic units suggesting
the existence of an east-north easterly trending cross-fault. The
Determination Zone lies approximately 26 kilometres north of Altius
Minerals/JNR Resources property where there are high grade uranium-silver-gold
Spruce Ridge's land holdings at Turner's Ridge consist of 809 claims or
Technical information in this news release has been compiled by Colin
Bowdidge, Ph.D., P.Geo., a director of the company and the company's Qualified
Person as defined in NI 43-101.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: John A. Ryan, CGA, President, Spruce Ridge
Resources Ltd., Tel: (519) 428-5327, Fax: (519) 428-5349, Web:
www.spruceridgeresources.com, Email: firstname.lastname@example.org