|January 17, 2012|
Update on REE Exploration - MRT Property, Popes Hill Trend, Labrador
Bridgewater NS, Canada -- January 17, 2012 / CNW - Silver Spruce Resources Inc. (TSXV:SSE) is pleased to provide exploration results on the road-accessible, optioned, MRT Rare Earth Element (REE) property which lies along the Trans-Labrador Highway (TLH), approximately 35 kilometres from Happy Valley-Goose Bay (HVGB) in southern Labrador. SSE can earn a 100 % interest in the property, subject to a 2.5 % NSR, by paying a total of $80,000 plus 500,000 shares over a 2 year period (New release Feb. 17/11).
- values to 12.2% TREO in float in southern part of property, associated with stream and soil anomalies
- Five samples with Nd2O3 values > 1 %; one value of 0.14% Dy2O3
- unexplained stream and soil anomalies located in western part of property
Work carried out in the fall of 2011 included a wide spaced B horizon soil survey in the southern portion of the property, a regional stream sediment and prospecting survey over the entire property, except those areas covered by outwash sands and gravels, and limited trenching (2 trenches) in the southernmost part of the property, near the Trans Labrador Highway (TLH). The trench sampling gave highest values of 0.44% TREE / 5.8 m, including 3.7% TREE over 0.5 m in Trench 2 (News Release Dec. 16/11).
A total of 318 soil samples were taken at approximate 100 m intervals on lines 200 m apart in the southern part of the property where significant REE mineralization is found in rocks over a 2km2 area, within 2 km of the TLH and upstream of a significant anomalous stream sediment value (News Release Sept. 13/11). Results gave a number of anomalies with values up to 831 ppm total rare earth oxides (TREO) against a background of <200 ppm. Heavy rare earth oxides (HREO) averaged 2-3% of the total rare TREO with a high of 4%. Seventy six (76) stream sediment samples taken at nominal 300 m spacing covered most of the streams on the property except those in the NE corner where the outwash sands and gravels are present. One second order anomaly with a high of 521 ppm against a background of < 220 ppm, was found in the central portion of the claims, north of the trenches on Licence 18545M. The second highest stream sediment value of 488 ppm was located in the southern part of the claims near a float rock sample that gave 12.2% TREO. Also in this area are three first order soil sample values and a Th radiometric anomaly trending east -- west. HREO as a total of TREO averaged 5% with a high value of 9.2%. The stream sediments and soils were analyzed for a suite of 8 REE's, 4 light and 4 heavy, including La, Ce, Nd, Sm (lights), Eu,Tb, Yb, and Lu (heavies). No follow up has been carried out.
Forty two (42) rock samples were taken from float and outcrop in detailed and regional prospecting. Detailed prospecting covered mostly the southern part resulting in the location of an area of REE mineralization over a 2 km2 area just to the north of the TLH. Limited, regional prospecting, carried out in conjunction with the stream sediment sampling, covered the remainder of the property. Results show the main area of interest is the southern portion where most of the prospecting took place. The mineralization is light rare earth oxide (LREO) enriched with five samples giving values > 1% Nd2O3. Ten samples, 6 from outcrop and 4 from float, gave TREO values > 1% with HREO values averaging 4 % of the TREO including one sample from outcrop with 0.14% Dy2O3 although the average Dy2O3 values for the 10 samples >1% TREO was 271 ppm. The highest rock sample value was 12.2% TREO with 1.6 % HREO, in a small float, located along the powerline at the south boundary of the property. The only significant value outside of the southern area was in one float sample which gave 0.5 % TREO with 7 % HREO, on a brook in the western part of the property which also gave weakly anomalous stream sediment values.
Follow up, to be carried out in the spring / summer of 2012, will consist of gridding, further detailed prospecting, geochemistry and geological mapping followed by trenching and drilling.
All samples were transported to Activation Labs' preparation facility in Goose Bay by SSE personnel, then shipped to their laboratory in Ancaster, ON for analysis using its 8 REE package for rocks and the 1 D enhanced package for soils and stream sediments. The laboratory uses internal standards to check the analyses and blanks are included in each sample batch. Plan maps of the property showing the sample results; the airborne thorium radiometric and magnetic data, plus pictures of the area and the showings are available on the Silver Spruce website.
This release has been approved by Peter M. Dimmell, P.Geo., President and CEO of Silver Spruce Resources Inc., who is a Qualified Person (QP) in NL and ON as defined in National Instrument 43-101.
About Silver Spruce Resources Inc.
Silver Spruce is a diversified junior exploration company with a portfolio of rare earth (Pope's Hill, Pope's Hill JV (with Great West Minerals Group), MRT, RWM and Straits), gold silver (Big Easy), and for the longer term, uranium (CMBJV, Snegamook, Double Mer, Mount Benedict), projects in Newfoundland and Labrador. With interests in more than 4,000 claims totalling more than 1,000 square kilometres in Labrador, Silver Spruce is one of the largest landholders in one of the world's premier emerging rare earth and uranium districts. For more information go to www.silverspruceresources.com.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.
The company seeks Safe Harbour.
For further information contact:
Gordon Barnhill, CFO & Director
Silver Spruce Resources Inc.
For investor & media relations contact:
Pilot Communications Inc.
Phone: 709.753.0794 ext 31
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