Uranium binge for Spruce Ridge

Spruce Ridge Resources (SHL-V) is patiently waiting for Newfoundlands spring break-up to pass so it can begin a 2,700-metre drill program on its two uranium properties.

While there are no rivers or lakes to contend with to reach Spruce Ridge’s properties in Western Newfoundland, company president John Ryan says the drill contractor is waiting for things to dry up at the site of his last project before he can transport the rig. Ryan says the drilling should be underway by the end of the month.

The majority of the drilling will take place on the North Brook property in the Dear Lake Basin where 34 chip samples collected last year yielded between 0.078% U₃O₈ and 3.73% U₃O₈.

The drilling will test 798 metres of anomalous radioactivity in intermittent outcrops along the banks of the North Brook. The company will be drilling 69 holes on an 800-metre by 800-metre grid. The holes will be 10 to 20 meters deep and drilled at 100-metre intervals to test grey sediment that reaches 10 to 15 metres below the surface.

There are 2,885 claims between the two Newfoundland properties but Spruce Ridges land package started out much smaller.

The company staked 32 claims last July from information on the Newfoundland governments website.

Then I went on a staking binge, says Ryan, who staked 1,200 claims over the Internet one night last October. I stayed up till three in the morning to do it.

North Brook is comprised of 2,076 claims on 519 sq. km and the Turners Ridge property consists of 809 claims on 202 sq. km.

Spruce Ridge plans to drill 600 metres at the Turners Ridge property, which is located to the north of North Brook.Last year, 11 chip samples from the Determination Zone returned grades from 0.043% U₃O₈ to 0.274% U₃O₈.

The mineralization was found in pre-carboniferous basement rocks in a wedge-shaped area between two fault structures the Douceurs Valley fault and the Wigwam fault.

Located in the middle of the Turners Ridge and North Brook properties is Altius Minerals‘ (ALS-V) and joint-venture partner JNR Resources‘ (JNN-V) 110 sq. km Rocky Brook uranium property where boulders have returned grades as high as 11.5% U₃O₈ 859 oz. silver per tonne and 404 grams gold per tonne.