Great Burnt

Project Highlights

Great Burnt
  • A 100% owned volcanogenic massive sulphide (VMS) deposit in central Newfoundland’s highly prospective, base-metal-rich greenstone belt, consisting of 4 prospective zones:
    1. The Great Burnt Zone (Copper)
      • Indicated Resource of 381,300 tonnes at 2.68% Cu, Inferred Resource of 663,100 tonnes at 2.10% Cu* and open at depth
    2. South Pond “A” Zone (Copper, Gold)
    3. South Pond “B” Zone (Gold)
    4. End Zone Prospect (Copper)
  • Recent high grade copper discovery at the Great Burnt Zone - April 26, 2016, Spruce Ridge drills 7.5 metres of 9.45% copper, including 3 metres of 19.3% copper
  • Potential high-grade starter pit identified with 237,000 tonnes at 2.51% copper (undiluted) at the Great Burnt Zone, with relatively low capex
  • Near-surface gold present at South Pond “B” Zone– drill results include 28 metres at 1.16 g/t gold, 4.33 metres at 4.75 g/t gold
  • Road and airport accessible property, with mining infrastructure nearby – Great Burnt is 40km south east of Teck’s Duck Pond mine
  • Central Newfoundland is home to many well known mining camps dating back to the mid-19th century
  • 100% interest in mining lease and 5 contiguous mineral licences covering 148 claim units with an area of 4,065 ha, lease subject to 2% NSR in favour of Glencore
  • Significant exploration data including drill database of 17,000 meters and 2007 Aeroquest Mag/EM survey

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South Pond "B" Zone Gold Potential

Plan View Diamond Drill Intercepts

  • Prospective, near-surface gold present at South Pond “B” Zone (see South Pond “B” Plan View Diamond Drill Results)
  • Spruce Intends to drill more holes at South Pond “B” Zone in Fall 2016

Great Burnt Project Zones

Several advanced copper and gold targets on 14km mineralized trend

Great Burnt Project Zones

Great Burnt Resource Estimate

Great Burnt Resource Estimate

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(2) The mineral resources are based on a NI 43-101 Resource Estimate and Technical Report completed by P&E Mining Consultants Inc. with an effective date of January 12, 2015. Eugene Puritch, P.Eng., President of P&E, is the independent qualified person responsible for preparing the Great Burnt Property mineral resource estimate for Spruce Ridge Resources Ltd.
(3) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
(4) Resource based on over 156 drill holes and over 980 drill core assays by previous operators between 1961 and 2008. Uses average density 3.206 t/m3. Based on 1.0% Cu cut-off

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