|September 15, 2009|
Silver Spruce Updates Exploration Results Newfoundland Gold and Base Metal Properties
20th Brook Property - narrow - high grade channel samples
- 7.8% Zn / 5.1% Pb, 7.7 ppm Ag over 1.5 m and 28.8% Pb / 5.4 % Zn, 10.4 ppm Ag over 1 m (SW zone); 2.8% Zn, 3.4% Pb, 4.9 ppm Ag over 1 m (N zone)
- wider lower grade channel samples - 1.32 % Pb / 0.72 % Zn over 4.7 m -- SW zone
Calvin's Landing Property
- definition of an extensive mineralized / altered zone over 200 m strike, remains open
- gold mineralization (1.595 g/t) located in outcrop 1.6 km to the northeast along strike of the Lazyman Prospect.
September 15, 2009 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is please to update exploration results for its Newfoundland gold and base metal properties. Exploration has been carried out on the following properties:
|Calvin's Landing||gold/silver ||Glovertown, NL||trenching/sampling|
|Lazyman||gold ||South Central NL.||prospecting|
|20th Brook||lead/zinc||Western NL.||trenching/sampling|
The following is a summary of the work and results for each of these properties.
The property, totaling 146 claims (3,650 ha), is located in western Newfoundland approximately 25 km from the town and port of Stephenville. It was optioned in December 2008 from three local prospectors. SSE can earn a 100% interest, subject to a 2.5% NSR, by paying $84,650 cash, issuing 435,000 shares and expending $300,000 in exploration over a 3 year period (see news release Dec. 4, 2008). Lead-zinc-silver mineralization occurs as breccia veins and as disseminations in a dolomitized limestone, known as the Devil's Cove limestone.
Results were received for a trenching and sampling program carried out in July/August 2009 testing the strongly anomalous soil geochemical areas and outcropping mineralization on the main zone (see news releases dated June 23 and May 26, 2009). A total of 11 trenches were excavated, washed, mapped and channel sampled in the SW, NE and N anomalous areas over a strike length of 600 m. All trenches exposed galena (lead) and sphalerite (zinc) mineralization as disseminations and fracture fillings; however, results were inconclusive as most mineralization was fairly flat lying and was not conducive to testing with horizontal trenches and channel sampling along bedding planes. Drilling of vertical to near vertical holes will be required to test the near horizontal, bedding related, mineralization.
The highest values include 7.8% Zn / 5.1% Pb, 7.7 ppm Ag over 1.5 m and 5.4% Zn / 28.8% Pb, 10.4 ppm Ag over 1 m in trenches SWT-1,2, all located in the SW area, and 2.8% Zn, 3.4% Pb, with 4.9 ppm Ag in the N zone in trench NT-3. Wider, lower grade mineralized zones were also defined with best values of 1.32% Pb / 0.72% Zn over 4.7 m in trench SWT-4 in the SW zone. The following is a list of the trenches with the highest values noted. Where elements are not mentioned results are not significant. SW zone: SWT-1,2 - as above; SWT-3 -- 0.6% Zn over 1 m; SWT-4 - 1.23% Pb, 0.72% Zn over 4.7 m incl. 1.56% Zn, 6% Pb over 0.9 m; North Zone - NT-1 -- nsv; NT-2 -- 0.07% Zn, 0.91% Pb over 0.5 m; NT-3 - 2.8% Zn, 3.4% Pb, 4.9 ppm Ag over 1 m; Northeast Zone - NET-1 - 1.45% Zn, 0.15% Pb over 1 m; NET-2 - 1.18% Zn, 0.65% Pb, 3.5 ppm Ag over 1 m; NET-3 - 0.53% Zn, 2.7% Pb, 3.2 ppm Ag over 0.6 m; NET-4 -- 0.03% Zn, 0.13% Pb over 1 m.
Five trenches were also attempted in the anomaly A area located further to the south, where highly anomalous soil values in lead and zinc had been located (news release June 23, 2009) along the contact between the intrusive and limey sedimentary units. Overburden depths were greater than on the Main zone and no mineralization was located in any of the trenches. The strong lead and zinc values in the soil remaining unexplained.
A Phase 3 exploration program of diamond drilling is planned for mid fall. The company would like to acknowledge the financial support received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in the exploration of the 20th Brook property. A compilation map of the property, the geochemical results for the rock and soil samples and the trench locations can be viewed on the company website at www.silverspruceresources.com.
The property, totaling 121 claims (3025 ha), is located in east-central Newfoundland, approximately 10 kilometres from the town of Glovertown. It was optioned from two local Newfoundland prospectors in January, 2009 (news release dated January 13, 2009). SSE can earn a 100% interest in the property by paying $74,000 in cash, issuing 350,000 shares and spending $300,000 on exploration over 3 years (news release January 13, 2009). The property hosts strong, high sulphidation style, alteration/mineralization with values up to 4.4 g/t from grab samples of a quartz rich hematite breccia associated with strongly altered, sericitized and pyrophyllitized, felsic volcanics.
A first pass exploration program consisting of gridding, soil and stream sediment geochemistry, geology and prospecting was completed in mid June (news release June 16, 2009). A total of 297 soil samples, taken on the grid and on recce lines to the north, 16 stream sediment samples and 21 rock samples were taken during the first pass exploration work. The soil results were not impressive with only weak gold in soil values, up to 45 ppb, located in one sample in the area with 9 others giving values between ND (<5 ppb) to 10 ppb. All stream sediment samples gave background values. Rock samples gave values up to 1,083 ppb from a quartz- specularite boulder located near the road, but most gave values from ND (< 5 ppb) to 50 ppb.
In spite of the poor results, a total of 5 trenches were dug using an excavator in August, at nominal 50 m intervals along strike, testing the alteration zone, which strikes approximately N-S across the Northwest Pond resource road. All trenches were washed, mapped and channel sampled over variable intervals from 0.5 to 2 m, along their length. Results showed that the main portion of the alteration zone can be traced for at least 200 m and is approximately 30 m wide, consisting of interbedded quartz-hematite schists, pyrophyllite schists and boudinaged quartz-specularite veins hosted in sericite schists grading into unaltered phyllitic sedimentary units. The alteration zone, which is highly foliated, deformed and boudinaged, is heavily mineralized with pyrite and specular hematite. Assay results were disappointing with the highest value 94 ppb Au over 2 .2 m in trench 1, adjacent to the road. The trench results include: trench 1 - 30 samples - anomalous values from 11 to 94 ppb over 10 m; trench #2 -- 20 samples -- weak anomalous values from 6 to 38 ppb over 15 m; trench #3 -- 17 samples - most weakly anomalous from 6 to 38 ppb (14 of 17); Trench #4, located to the north of the road, off strike -- 17 samples -- no significant values; trench #5 -- 18 samples -- no significant values.
The property, which totals 114 claims (2,850 ha), is located in the Bay D' Espoir Area of southern Newfoundland, and was optioned from two local prospectors. SSE can earn a 100% interest in the property, subject to a 2.5% NSR, by paying $20,000 and issuing 800,000 shares over 3 years (news release July 21, 2009).
Gold mineralization occurs in sheared, arsenopyrite bearing, sedimentary units and in stockwork quartz veins exposed in outcrop over an area approximately 300 by 60 meters. The Lazyman showing, with values from background (<100 ppb) to 11.4 g/t gold, is surrounded by bog and is open in all directions. Fifteen due diligence samples taken by SSE gave Au values from 5 to 1,309 ppb with all samples taken from areas away from the higher grade, quartz veins.
Follow up prospecting was carried out on parts of the property, essentially "peripheral claims" away from the Lazyman showing, that required assessment expenditures in order to maintain them. A total of 70 samples were taken. The highest value located was in LM062, with 1.595 g/t gold, taken from an outcrop located 1.6 km to the northeast and on strike with the Lazyman Showing. Three other anomalous values were in the 100 ppb Au range, at 71, 98 and 219 ppb. All others varied from ND (<5 ppb) to 34 ppb Au.
Continued exploration will consist of detailed prospecting in conjunction with soil geochemistry followed by systematic channel sampling at the Lazyman Showing. Trenching and diamond drilling is contingent on positive results from the initial surveys. A compilation map can be viewed on the company website at www.silverspruceresources.com.
Rock, stream sediment, soil and the cut trench samples from the Twentieth Brook property were sent to Eastern Analytical Laboratories in Springdale, NL., a recognized local laboratory, to be analyzed using an ICP-11 technique for Pb, Zn, Ag and other elements, with values over the detection limit re-analyzed by an AA method. Rock, stream sediment, soil and the cut trench samples from the Calvin's Landing property and the rock samples from the Lazyman Property were submitted to the Gambo preparation facility of Accurassay Laboratories, then sent to their Thunder Bay, ON. laboratory for gold analysis by fire assay (1/2 assay tonne) and an ICP-31 technique for other elements. Standard QA/QC techniques, as described on the SSE website, were carried out.
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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