|September 10, 2009|
Silver Spruce Provides Updates on Newfoundland and Mexico Gold Exploration Properties
- Centauro drilling intersects strong epithermal alteration Northern area, drilling continuing
- drill mobilized to Rambler South gold property
September 10, 2009 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to provide an update on exploration on its more advanced Newfoundland and Mexico gold properties. Diamond drilling is ongoing at the Centauro gold/silver property in Chihuahua State, Mexico and the company has received TSXV approval for the option on the Rambler South gold property in north central Newfoundland. A drill has been mobilized to the Rambler South property.
The drill program at Centauro, planned for 1,500 to 2,000 m, has been underway since August 6, 2009. A total of 705 m in 6 holes (CEN-09-15, 16, 16A, 17 to 19) has been completed on the Northern Zone testing Au-Ag-As soil anomalies associated with epithermal style, highy altered (silicified and argillic) sedimentary units carrying pyrite, realgar, orpiment, arsenopyrite and stibnite in outcrop. All holes intersected wide sections of intense epithermal alteration and pervasive pyritic mineralization, with some arsenic mineralization noted. The upper portions of most holes are highly oxidized / gossaneous over intervals of up to 80 meters. A total of 307 core samples, varying in length from 1 to 3 meters, were cut and sent for analysis. Results are pending and will be reported when received. Continued drilling is now targeting the eastern extension of the silicified zone intersected in drill hole CEN-08-10, which gave 1.93 g/t Au and 64 g/t Ag over 7.5 m in a zone of 92.1 metres, from 3 to 95.1 m, which assayed 237 ppb Au and 8.4 g/t Ag at the top of the hole (see news release dated December 9, 2008). Geological mapping in the summer of 2009, indicates that this area is part a large, 4 by 2 km zone of epithermal alteration consisting of decalcification and argillic alteration, capped by silicified breccias, which indicates the alteration may be focused in the valley to the east the silicified Centauro mesa. A total of 800 meters of drilling is planned to test this area.
On September 2, 2009, the company received approval from the TSX Venture Exchange for the option agreement on the Rambler South property on the Baie Verte peninsula, North central Newfoundland (see News release dated July 16, 2009). A drill has been mobilized to the property to test the strong gold in till anomaly in the South Brook area and the Krissy zone, with drilling expected to start late this week.
The South Brook till anomaly appears to be related to shearing along the southern contact of the northeasterly trending "tongue" of Burlington Granodiorite that cuts the Pacquet Harbour Group (PHG) to the northeast of Gull Pond. Four till exploration programs carried out from 1989 to 2007, with all samples processed by Overburden Drilling Management of Nepean, ON. defined a gold in till anomaly, with gold grain counts up to 200 grains and background values < 10 grains with many at 0 grains, 3.5 km long and up to 1.5 km wide to the southeast of the "tongue". The assumed source area, defined in 2007 by ODM using close spaced (50 m) sampling, with gold grain counts up to 1360 grains with 96 % pristine, lies along the south side of the "tongue" and is believed to be a chlorite altered shear zone in the mafic volcanic units of the PHG. Four holes at 50 m centres are planned to test this zone.
Gold mineralization, including visible gold, at the Krissy zone, is associated with sulphide rich quartz veins emplaced along a shear zone, up to 5 m in width, related to the intrusion of linear quartz porphyry bodies. Values vary from background (100 ppb or less) to 12.5 g/t / 1.5 m in a channel sample in the trench 2 area on L 22 E. The Krissy boulder, an approximate 500 lb boulder composed of recrystallized quartz veins with pyrite and visible gold in an altered/sheared sericitic volcanic unit, located on L 17 E, 500 m to the west of the Trench 2 area and across the ice direction, has never been sourced. 1 or 2 holes are planned subsequent to a detailed soil geochemical survey targeting the Krissy shear, to define the gold rich areas along the shear zone.
Core samples from Centauro are being sent to Minerales Laboratory in Mazatlan, MX for preparation and check assays with pulps sent to Activation Laboratories in Ancaster, ON for analysis for gold by fire assay (1/2 assay tonne) and an ICP-31 technique for other elements. Core samples from the Rambler South property will be sent to Eastern Analytical Laboratories in Springdale, NL., a recognized local laboratory to be analyzed for Au by fire assay (1/2 assay tonne) plus a ICP-11 technique for other elements. Standard QA/QC techniques as described on the SSE website will be carried out.
Data on the Centauro and Rambler South properties is provided on the Silver Spruce website at silverspruceresources.com.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company with advanced gold/silver projects in Mexico and the island of Newfoundland, and base metal projects in central and western Newfoundland. The company was originally focused on uranium in the Central Mineral Belt (CMB) and elsewhere in Labrador, Canada and with continued interests in more than 6,000 claims totaling more than 1,500 square kilometers in Labrador, Silver Spruce remains the second largest landholder in one of the world's premier emerging uranium districts. This diversity 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Corporation seeks Safe Harbour.
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