Uranium Binge for Spruce Ridge

Spruce Ridge Resources (SHL-V) is patiently waiting for Newfoundland’s 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 Ridges’ properties in western Newfoundland, company president John Ryan says the drill contractor is waiting for things to dry up at the site of the last project before he can transport the rig. Ryan says drilling should be under way by the end of the month.

The majority of the drilling will take place on the North Brook property, in the Deer Lake basin, where 34 chip samples collected last year yielded between 0.078% and 3.73% U3O8, or between 1.6 and 74.6 lbs. per ton.

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 by 800-metre grid. The holes will be 10 to 20 metres 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 Ridge’s land package started out much smaller.

The company staked 32 claims last July based on information posted on the Newfoundland government’s 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 comprises 2,076 claims on 519 sq. km and the Turner’s Ridge property consists of 809 claims on 202 sq. km.

Spruce Ridge plans to drill four 150-metre holes at the Turner’s Ridge property, which is located north of North Brook.

Last year, 11 chip samples from the Determination zone returned grades from 0.043% to 0.274% U3O8, averaging 3.12 lbs. per ton.

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 Turner’s Ridge and North Brook properties is Altius Minerals’ (ALS-T, ATUSF-O) and joint-venture partner JNR Resources’ (JNN-V, JNRRF-O) 110-sq.-km Rocky Brook uranium property; boulders collected there have returned grades as high as 11.5% U3O8, 859 oz. silver per tonne and 404 grams gold per tonne.