|May 13, 2008|
Drilling Begins on the Centauro Gold-Silver Property, Chihuahua State, Mexico
- 3,000 to 4,000 meter diamond drill program testing strong gold, silver, arsenic, antimony and mercury soils underway
- Anomalous gold, silver and toxic metals soil area extended to more than two kilometers in length
May 13, 2008 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that the 2008 drill program has begun on the Centauro Property in the Sierra Madre Occidental of Chihuahua State, Mexico. The program is testing strong soil anomalies in gold, silver, and the "toxic" metals (mercury arsenic, antimony) associated with a silicified mesa, a highly altered limestone conglomerate. The Centauro Property is under option to Silver Spruce, who can earn a 100% interest, as previously announced.
The drill program began in the northwestern portion of the property where realgar and orpiment (arsenic bearing minerals) and antimony mineralization in the form of stibnite has been noted. Drill sites were prepared by bulldozer over the silicified/altered area, including the top of the mesa which was otherwise unapproachable and thereby untested by drilling. The emphasis of the drill program is on the western portion of the altered zone, which is untested. The area was previously explored in the early to mid 1990s by Jaba Inc., Excellon Resources Inc., Blue Ribbon Resources Ltd. and Cascabel Resources. Rock chip sampling, structural studies and a six-hole, reverse circulation (RC) drilling program partially tested the silicified zone on the eastern side. Weakly anomalous gold and silver values in the 100 ppb gold and 3 ppm silver range, were located in a couple of the holes. No follow up was carried out.
Silver Spruce also received results for soil lines 5 and 6, comprising a total of 122 samples, located to the north of lines 1 to 4. Results from lines 1 to 4 were reported on February 27, 2008. The new results extend the anomalous soil values to over 2.2 kilometers of strike along the zone. Line 6, located approximately 300 meters to the north of Line 3, gave the best values. These included: Hg to 5,510 ppb, Au to 164 ppb, Ag to 5.7 ppm, As to 1,700 ppm, Ba to 3,100 ppm and Sb to 175 ppm. Line 5 gave lower anomalous values, with Hg up to 1,700 ppb, Au to 70 ppb (coincident), Ag to 1.3 ppm, As to 828 ppm, Ba to 2,510 ppm and Sb to 61.3 ppm. Seven rock samples from the area gave anomalous values in the Line 6 area as follows: Au - 4 to 130 ppb, As - 10 to 852 ppm, and Sb/Hg - coincident values from 3,470 to greater than 10,000 ppm Sb and 2,960 to 26,600 ppb Hg. Silver values were not reported.
Dr. Greg Arehart, a professor at the University of Nevada in Reno, and a recognized expert in epithermal and Carlin-type gold deposits, has visited the Centauro Property as a consultant to Silver Spruce. He comments, "The Centauro prospect is one of very few, essentially untested, precious metal prospects in the epithermal province of the Sierra Madre Occidental. This system has clearly seen voluminous and extensive fluid flow, as evidenced by the intense and widespread silicification. Metals in rock chip and soil samples are anomalous over a significant area, indicating potential for a large (multi-million ounce) metal endowment. Two target types are present: a near surface, low-grade, large tonnage potentially Carlin-Type resource, as well as a deeper, focused, bonanza-type system."
The soil lines, mainly one to two kilometers long and at approximate 500 meter intervals, except at the north end where they are approximately 300 meters apart, were cut through the underbrush over the mesa and the area to the northwest to cover an approximate 2.2 kilometer strike of the silicified zone. The soil samples were taken from the surface at 10 meter intervals along each of the lines generally extending into the colluvium both to the east and west of the silicified zone. Samples were taken at 50 meter intervals over the colluvium to give a regional background. All samples were transported to the Activation Laboratories Ltd. (Actlabs) preparation laboratory in Hermosillo, Mexico, and then sent to the Actlabs laboratory facility in Ancaster Ontario, for analysis for gold by fire assay (1A2), 37 elements by Aqua Regia ICP (1E3) and Mercury by cold vapour FIMS (1G).
The soil geochemical plans, with values for the various elements, plus the rock sample values, are shown on the Silver Spruce website. Maps and photos showing the drill sites, and an aerial photo of the Centauro mesa, can also be viewed on the website.
ABOUT THE CENTAURO PROPERTY
The Centauro Property is a contiguous block of six claims (1,420 hectares), located in the southern part of Chihuahua State, just to the north of Durango State, approximately 25 kilometers to the west of Highway 45, the main north-south highway in Mexico. The property is subject to an option agreement with a Mexican geologist (previously disclosed), whereby Silver Spruce can earn a 100% interest in the property subject to a 3% NSR with a 2% buyback for US $2 million. The property agreement has been registered with the General Bureau of Mining of the Exploration Agreement in Mexico. A finder's fee totaling C$9,600 plus 165,470 shares or cash equivalent over four years is also payable by Silver Spruce to maintain the property in good standing.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada and gold/silver in Mexico. With interests in more than 11,000 claims totaling more than 2,500 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. The exposure to gold/silver opportunities in Mexico and base metals in central Newfoundland and Labrador, gives the corporation diversification without losing its uranium focus. Strong financial backing makes Silver Spruce a leading explorer in Canada and Mexico.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
SILVER SPRUCE RESOURCES
Gordon Barnhill, CFO & Director
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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