NEWS ROUNDUP — Spruce Ridge to drill Madoc property

A second phase of drilling will be carried out in early December on the Cooper Gold property, near Madoc, Ont.

Drilling to date has outlined a gold zone containing 41,193 tons grading 0.24 oz. gold per ton, reports operator Spruce Ridge Resources (CDN). The zone has an average width of 7.4 ft. and extends to a depth of 600 ft. Cooper is a joint venture between Spruce Ridge and Lakefield Minerals, a private company. Under a revised agreement, Spruce Ridge will spend the next $50,000 on exploration to earn a 60% working interest while Lakefield will spend the subsequent $60,000 to maintain its 40% working interest.