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SSE.V - Silver Spruce Resources (Uranium in the CMB)

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PostPosted: Tue Aug 13, 2013 5:10 pm    Post subject: Reply with quote

BRIDGEWATER, NOVA SCOTIA--(Marketwired - Aug. 13, 2013) -

Editors Note: There are 2 photos associated with this release.

Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to update results of ongoing exploration on the Big Easy, epithermal, low sulphidation gold/silver zone in eastern Newfoundland. The Company owns 100% of the Big Easy property, subject to advance royalty payments of $20,000 per year and a 3% NSR on any production, of which 1.5% can be bought for $1.5 M. The Company is looking for a JV partner for the project and/or to access financing for further exploration and development.

Although exploration has been limited due to lack of funds in 2013, some significant developments have happened this summer through field visits generated by interest in the property at both the Cordilleran Roundup in Vancouver in January and the PDAC convention in Toronto in early March, and subsequent re-examination of the drill core. They include:
(1) Sinter (hot spring banding) indicating the paleo surface, is found in subcrop in Trench 6, the furthest south that the zone has been tested by drilling in DDH BE-11-1, although no sinter was intersected in this hole.
(2) Quartz/adularia veins are located near surface in drill holes BE-12-9, BE-12-10 and BE-12-11, the furthest north in the 2012 drilling and over 500 m to the south of DDH BE-11-6, the next drill hole to the north;
(3) Angular quartz/adularia vein float (picture attached) has been located approximately 100 m to the north of BE-12-11, an area with no diamond drilling.
(4) Boiling textures, bladed quartz after calcite (picture attached), are noted in surface float approximately 300 m to the north of BE-12-11 in an area not tested by drilling and also in drill hole BE-11-5, to the west, on the same drill section as BE-12-11.

The results show that the Big Easy zone is a "classic" low sulphidation, epithermal, system and although very old, dated at around 570 Ma, is relatively pristine and undeformed. Significant gold and silver values have been located - values up to 7.9 g/T Au and 130 g/T Ag over 1.2 m in DDH BE-11-12 and 335 g/T Ag and 2.5 g/T Au over 0.25 m in a QA vein in DDH BE-11-7. The boiling textures indicate that we are at or near the required level for bonanza style gold/silver values, typically 3-600 m below the surface (or paleosurface in our case) where the sinter is being formed by the hot springs.

The President and CEO of Silver Spruce, Peter Dimmell, says, "We are continuing to move the Big Easy project forward even in these difficult times as we feel it is a classic low sulphidation epithermal system with 'bonanza grade' possibilities. Our focus continues to be to either raise money for continued exploration if markets improve or get a joint venture for the Big Easy property and we are hopeful that this will happen over the next few months."

Maps and other pictures showing the locations, for the above noted areas and the diamond drilling, are on the Silver Spruce website at www.silverspruceresources.com.

This release has been approved by Peter M. Dimmell, P.Geo., President & 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 significant, road accessible, low sulphidation, epithermal, gold/silver property in eastern Newfoundland, which has potential for bonanza grades in both gold and silver - the Big Easy, and for the longer term, a portfolio of uranium (Snegamook, A7 (Fishawk Lake), Double Mer, Mount Benedict, CMBJV) and rare earth (Pope's Hill, Pope's Hill JV (w/ Great Western Minerals Group), Straits) projects in Labrador. Information on the company can be found on the Silver Spruce website at www.silverspruceresources.com.
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PostPosted: Fri Nov 09, 2012 11:58 am    Post subject: Reply with quote

SSE has fallen to 2 cents as a holder of 18M shares has liquidated to only 3M or less.
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PostPosted: Fri Dec 16, 2011 1:41 pm    Post subject: SSE.V - Silver Spruce Resources (Uranium in the CMB) Reply with quote

Major Landholder in the Central Mineral Belt of Labrador

Silver Spruce is a junior exploration company originally focused on uranium in the Central Mineral Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than 4,000 claims totaling more than 1,000 square kilometers in Labrador, Silver Spruce is one of the largest landholders in one of the world's premier emerging uranium and REE districts. The company has rare earth element (REE) properties in Labrador - Pope's Hill, Pope's Hill JV (with Great West Minerals Group), MRT, RWM and the Straits and gold/silver projects (Big Easy, Rambler S.) on the island of Newfoundland.

Recent News:
Bridgewater NS, Canada -- December 16, 2011 / CNW - Silver Spruce Resources Inc. (TSXV:SSE) is pleased to provide an exploration update on the road-accessible Pope's Hill and MRT, 100% owned, Rare Earth Element (REE) properties on the Trans-Labrador Highway (TLH) in southern Labrador.

Pope's Hill - A total of 291 channel samples, over widths varying from 0.1 to 2 m, tested 12 trenches along the MP and parallel trends. Note that, as reported by Silver Spruce to date, results are stated as Total Rare Earth Elements (TREE's), not Total Rare Earth Oxides (TREO's), and are therefore lower than values reported as TREO's. Results will be restated as TREO's to conform to general REE industry standards starting in 2012.

The results give wide (up to 30m) low grade zones grading 0.2% to 0.6% Total Rare Earth Elements plus yttrium (TREE), narrower (>5m) medium grade zones (> 0.6% TREE) and narrow zones (<1m> 3% TREE). The highest values were found in the T1 to T5 area of the MP trend in trenches 3, 4, 5, 6, 7 and 11. Some trenches gave anomalous values over the entire exposed zone including: Tr 7 - 0.61% TREE / 22.6m; Tr 5 - 0.64% TREE / 9.5m and Tr 11b - 1.09% TREE / 5.7m, indicating that the zones could be much wider. The highest individual value was 14.35% TREE / 0.3m in Tr 11b, located near the 24% TREE boulder found in 2010. HREE+Y percentages of the TREE range from 2.5 % to 24.6 %. Narrow high grade zones, related to the massive segregations, carry the mineralized zones in most instances however significant background values in the 0.1 to 0.5% range are noted through the syenite unit that hosts the mineralization. Zr values in the REE mineralized zones along the MP trend are mainly in the 500-1500 ppm range with a high value of 2.32% noted in trench seven. Trench 15, which is mainly pegmatite related mineralization, has generally much higher Zr values in the 1000-9000 ppm (0.1-0.9 %) range. Th values are generally 2-500 ppm in the REE mineralized areas with a high of 0.31 % (3100 ppm) noted in trench 11b. The host syenite units strike at approximately 070 degrees and dip to the south (toward the TLH) at approximately 30-40 degrees, parallel to the gneissosity of the geological units.

Some of the better mineralized zones are described on the attached table which gives results for all elements and gives the HREE+Y percentages of the TREE. True width of the zones is estimated at 75-90% depending upon the steepness of the hill where the mineralization occurs.

"This trenching program has been successful in defining significant REE mineralization in place over a significant strike length. Based on these results, the earlier geophysical surveys and the geological mapping which defines the mineralized zones, we have located a number of drill targets which will allow us to move forward with a planned winter drilling program," said Peter Dimmell, President and CEO of Silver Spruce Resources. "What we like about this property, a new REE discovery in southern Labrador, is that it is road accessible, close to infrastructure and still has unexplored mineralization and related thorium anomalies along strike of the known mineralized zones."

The trenching program was designed to expose and sample favourable, REE anomalous syenites and other units along the MP trend, over an approximate 2.5 km strike length, which carry the high grade, up to 25% Total Rare Earth Element plus yttrium (TREE), segregations (NR Aug. 31, Sept. 27 and Oct. 20/11 www.silverspruceresources.com/s/NewsReleases.asp). The trenches from 100 to 500 m apart, were dug to give grade/width information on the zones in preparation for a drilling program planned for 2012. Four trenches (9, 10, 13 and 14) were not sampled due to the low radioactivity found and the lateness of the season.
MRT - Trenching tested two REE mineralized areas, approximately 75 m apart, in the southern part of the property, where TREE values up to 6.9% were located in bedrock during prospecting surveys (NR Aug. 9/11). Eighty (80) channel samples were taken in the two trenches over widths varying from 0.2 to 2 m.

Anomalous zones are associated with allanite mineralization in pyroxene rich pegmatitic units. HREE+Y values are lower than found in the Pope's Hill area, possibly reflecting the more pegmatitic related mineralization. Zr is generally 500-1500 ppm in the REE mineralized zones however Zr values in the 0.1-0.2% range are also found in areas with low to background REE values. Th values are generally 100-200 ppm with a high value of 1000 ppm (0.1 %), noted. True widths of the zones are estimated to be close to the sampled widths since the units strike generally N-S with a near vertical dips.

The MRT property is 60 km to the east of the original Pope's Hill property along the Pope's Hill Trend and the trenches were designed to evaluate surface mineralization in this largely unexplored area which has REE mineralization over a minimum 2 km2 area. Initial results are encouraging; especially giving the limited exploration carried out to date and will allow Silver Spruce to focus on expanded exploration efforts in the area next year.

The channel 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 their 8 REE package. The laboratory uses internal standards to check the analyses and blanks are included in each sample batch. Plan maps of the properties including the trenching on the Pope's Hill Trend - PH and MRT properties; the airborne thorium radiometric and magnetic data, plus pictures of the area; as well as the showings and some of the higher grade samples, are available on the Silver Spruce website at www.silverspruceresources.com

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.

Bridgewater NS, Canada -- December 15, 2011 /CNW - Silver Spruce Resources Inc. (TSXV: SSE) -- announces the results of diamond drilling on the Two Time Uranium Zone and other prospects on the Central Mineral Belt JV (CMBJV), a joint venture with Crosshair Energy Corporation, with Silver Spruce currently retaining a 37% ownership and Crosshair a 63% ownership of 566 joint venture claims (142 km2) in the Central Mineral Belt of Labrador. The properties are located inland from the Postville-Makkovik area of coastal Labrador, approximately 150 kilometres to the northeast of Happy Valley-Goose Bay.

Crosshair Energy, the joint venture operator, announced on December 15 that it intersected additional uranium mineralization down dip/plunge from the Two Time Uranium Zone discovery made by Silver Spruce in 2006/07. A total of 2,961 metres of drilling in 2011 has confirmed uranium mineralization to depths of over 500 metres. Highlights from the program are shown in the table below. This area is proximal to the Moran Lake, Michelin and other uranium showings under exploration/development by Crosshair and Aurora Energy (Paladin).

A second component of the 2011 drilling program investigated coincident airborne radiometric geophysical and rock geochemical anomalies on other properties in the CMBJV. Fourteen diamond drill holes, totalling 1,245 metres, tested four prospects. Three holes intersected uranium mineralized zones with the most notable from the Firestone prospect, where DDH FS-11-007 intersected 3.5m at 0.084% U3O8 including a 0.5m of 0.519% U3O8. Drilling at the other three eastern-most prospects; South Brook, Running Man and Big Bear, was preliminary with the program cut short by inclement weather.

Stewart Wallis, President and CEO of Crosshair stated in their December 15 news release: "We are very pleased with the results of this year's drilling, as our data indicate the mineralization at the Two Time Zone has been extended beyond the current resource envelope. Our next task will be to combine these new results with the existing dataset to upgrade the resource." (NR December 15/11 www.crosshairenergy.com)

"Despite the fact that the 2011 exploration is significantly diluting our 37% position in the joint venture, since we are not contributing to the program, the value of the CMBJV properties should increase with these results," said Peter Dimmell, President and CEO of Silver Spruce. "Given these results, the positive outlook for uranium long term, and the lifting of the uranium development moratorium on Inuit lands in Labrador which will take place in March 2012; we are currently re-evaluating our current "hold" position on uranium exploration activity. We anticipate having more to say on our plans for significant holdings in the Central Mineral Belt of Labrador in the New Year."
Crosshair Energy Corporation
2011 CMB -- Two Time Drilling Program
Drill Hole From
(metres) To
(metres) Length
(metres) U3O8%
CMB-11-43 546.5 551 4.5 0.069
CMB-11-44 229 233 4 0.059
including 239.5 241 1.5 0.057
245.5 246.5 1 0.047
including 245.5 246 0.5 0.063
281 282.5 1.5 0.055
298 299.5 1.5 0.069
including 299 299.5 0.5 0.150
CMB-11-45 219 220.5 1.5 0.048
CMB-11-47 144 145 1 0.056
466.5 473.5 7 0.033
476.5 477 0.5 0.055
CMB-11-48 280.5 281 0.5 0.079
including 325.5 326 0.5 0.069
458.5 490 31.5 0.031
including 470.5 472.5 2 0.067
and 483.5 487 3.5 0.051
and 499.5 502.5 3 0.061

Complete assay highlights with drill plan maps and additional information on the CMBJV Uranium Project can be found on both the Silver Spruce (www.silverspruceresources.com) and the Crosshair (www.crosshairenergy.com/s/CMBJointVenture.asp,/html>) websites. Details are also available in the Technical Report on the CMBNW Property-Labrador, Canada prepared for Crosshair and Silver Spruce dated June 22, 2009 and filed on SEDAR at www.sedar.com.

The true width of the mineralized zone is 60% to 90% of the lengths stated above. Uranium analysis was carried out by Activation Labs of Ancaster, ON utilizing the Delayed Neutron Counting (DNC) method, while multi-element analysis was performed using Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Samples exceeding the upper limit for uranium were re-assayed using X-ray Fluorescence (XRF). Standards, blanks, and duplicate assays were included at regular intervals in each sample batch submitted from the field as part of Crosshair's ongoing Quality Assurance/Quality Control program.
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