|December 18, 2007|
Completion of Definition Drilling - Two Time Zone
- Completion of definition drilling for resource calculation - Two Time Zone
- Continued drilling to depth/along strike on the Two Time Zone in 2008
December 18, 2007 - Bridgewater, NS / Vancouver, BC - Silver Spruce Resources Inc. (TSXV: SSE) and Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that the definition drilling program for the resource calculation at the Two Time Zone has been completed. Two drills completed the program and the camp was shut down for the Christmas break on December 15. The infill, definition drilling, was carried out in preparation for a NI 43-101 compliant resource estimate to be prepared by Scott Wilson Roscoe Postle Associates Inc. (SWRPA) early in 2008. The 18-hole program, totaling approximately 3,000 meters, was carried out in November and December 2007. Analytical results for the drilling are pending and will be released as received in January 2008.
At this time last year, December 2006, the joint venture had just completed the first drilling on the Two Time Zone -- holes CMB-07-1 to 5 -- for 812 metres. With the completion of the definition drilling, the joint venture has now completed a total of 11,190.6 metres of drilling in DDHs 1 to 41. Forty of these holes (CMB-07-1 to 23 and 25-41), totaling 10,922.6 metres, tested the Two Time Zone and one hole (CMB-07-24) tested a RadonEx soil gas anomaly to the north of the zone.
Drilling is planned to resume in the second week of January 2008. At that time, one drill will be utilized to evaluate the extensions of the Two Time Zone to depth and on strike to the north and south. The second drill will focus on the newly discovered Firestone Zone (see news release dated October 17, 2007) and other targets on the CMBNW property.
The Two Time Zone has been traced over a strike length of approximately 475 metres, from 2+75 N to 2+00 S, and remains open to the north and south along strike and to depth. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite, carbonate, hematite and albite alteration. The orientation of the mineralization appears to be near vertical to steeply dipping.
"We have made great strides in the delineation of the Two Time uranium zone since its discovery in the fall of 2006," stated Lloyd Hillier, President and CEO of Silver Spruce. "In 2008, we look forward to the definition of a NI 43-101 compliant resource at the Two Time Zone that will establish Silver Spruce and Universal Uranium as companies with a significant new uranium deposit."
All uranium analyses are performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique (DNC), which gives accurate results for samples carrying up to 1.0% uranium. In addition, samples are analyzed using an ICP technique that gives good results for most other elements, including Thorium. A quality assurance/quality control (QA/QC) program, described on the companies' websites, has been implemented by the Silver Spruce-Universal Uranium joint venture to increase confidence in the results generated. Plan maps and sections for the drilling on the Two Time Zone are also shown on the websites.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. Experienced partners and strong financial backing, make Silver Spruce a leading uranium explorer in Canada.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSXV: UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., a Qualified Person (QP) as defined in National Instrument 43-101.
Drill Plan - Two Time Showing
Click to enlarge
For Further Information Contact:
SILVER SPRUCE RESOURCES
Gordon Barnhill, CFO & Director
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
Ronald Atlas, Chairman of the Board
Taylor Little, Corporate Communications
Phone: 604.662.3903 ext. 107
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.
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