Silver Spruce and Colibri intersect Au to 5.62 g/t and Ag to 239 g/t in polymetallic vein mineralization at La Prieta target at Diamante project, Sonora, Mexico
Silver Spruce and Colibri intersect Au to 5.62 g/t and Ag to 239 g/t in polymetallic vein
mineralization at La Prieta target at Diamante project, Sonora, Mexico
September 29 , 202 2 - Bedford, NS - (TSXV:SSE) - Silver Spruce Resources Inc. ("Silver
Spruce" or the "Company") , with its partner Colibri Resources Corp. (“Colibri”), announces
further promising intersections of gold, silver and base metal s from near-surface to 75 metres
depth in the first shallow R/C drilling program on the Diamante project (“Diamante” or the
“Property”) which has had no prior drilling history.
Ten (10) holes were drilled in the 2,006-metre (“m”) program at the La Prieta (10) Au-Ag-Pb-
Zn-Cu targets (Figures 1, 2 and 3, Tables 1 and 2). The highest-grade samples returned from La
Prieta drilling include 12.75% Zn, 5.6 % Pb, 239 g/t Ag, and 5.62 g/t Au. All holes intersected
mineralization with intersection lengths ranging from 1.5 m to 13.5 and with variable meta l
abundances and ratios. Highlights of the results include:
➢ 2.48 grams per tonne (“g/t”) Au + 56.7 g/t Ag over an intersection length of 9.0 m
➢ 1.76% Zn + 38.5 g/t Ag + 0.56 g/t Au over an intersection length of 13.5 m
➢ 1.61% Zn + 38.5 g/t Ag + 0.63 g/t Au over an intersection length of 10.5 m
“We are pleased to report on the latest assay data from our maiden exploration drilling program
on two highly prospective areas of Diamante. Our second target, La Prieta, exhibited significant
intervals of Pb and Zn sulphide mineralization up to a combine d 18.35 wt.% Pb+Zn, with
elevated Ag and Au, in variably altered andesite and rhyolite locally with shear/fault controls,
comprising polymetallic vein -style occurrences within and adjacent to historical artisanal
mining,” stated Greg Davison, Silver Spruce Vice-President Exploration and Director.
Hole ID From To Length Au (g/t) Ag (g/t) Zn (%) Pb (%) Ag Eq (g/t) Au Eq (g/t)
DIA22-10 48.0 54.0 6.0 0.46 56.88 1.06 0.53 165.47 1.86
includes 49.5 51.0 1.5 0.87 125.00 2.82 1.45 383.75 4.31
DIA22-11 54.0 55.5 1.5 0.15 4.50 0.16 0.09 28.25 0.32
DIA22-12 51.0 52.5 1.5 0.18 4.80 0.22 0.08 33.71 0.38
DIA22-13 49.5 51.0 1.5 0.31 53.70 1.49 0.39 165.09 1.85
DIA22-14 52.5 55.5 3.0 0.59 16.50 0.46 0.23 98.14 1.10
DIA22-15 36.0 37.5 1.5 0.54 0.25 0.01 0.00 48.70 0.55
DIA22-16 1.5 10.5 9.0 2.48 56.70 0.28 0.71 312.84 3.51
includes 1.5 6.0 4.5 3.87 75.43 0.08 0.97 453.26 5.09
DIA22-16 18.0 19.5 1.5 0.83 18.80 0.68 0.38 136.90 1.54
DIA22-16 36.0 46.5 10.5 0.63 38.49 1.61 0.64 192.52 2.16
includes 37.5 39.0 1.5 1.36 139.00 8.74 2.88 772.12 8.67
DIA22-17 30.0 43.5 13.5 0.56 38.48 1.76 0.76 196.95 2.21
includes 30.0 34.5 4.5 0.94 103.17 4.96 2.19 494.61 5.56
DIA22-17 54.0 57.0 3.0 0.45 1.35 0.04 0.00 43.14 0.48
Media Release
Table 1. Significant Select Assay Intervals from Phase 1 drilling at El Pillado target on Diamante Project
(n=710 sampling intervals)
“Quantitative assays identified from one to four sulphide-bearing zones per hole consistent with
pXRF analyses conducted during the drill program. Anomalous values of pathfinder elements
including As, Cd, Cu, Hg and Sb were verified,” Mr. Davison added. “The initial drilling
confirmed that the indicated La Prieta mine target, both in shallow intersections and at depth, and
given the promising metal grades, particularly in DIA22 -17, warrants further work programs for
the polymetallic, intermediate sulphidation mineralization. Stemming from these promising
results, the Companies are discussing the scope and timing for next phase of exploration. Other
high priority targets at Calton, Aguaje, El Chon, Mezquite Raizudo and s everal others also await
boots on the ground-based activities.”
Figure 2. Orthophoto of La Prieta target on Diamante 1 showing DIA22-10 to DIA22-19 with projections
of subsurface extent. Adit located on south-facing exposure south of DIA22-18. Northwesterly and E-W-
trending faults and northeasterly vein targets exhibiting Au-Ag-Cu-Pb-Zn mineralization with intense
alteration. Anomalous multi-element geochemical values shown in graduated symbols. 1:1,000 scale.
Hole ID From To Length Au (g/t) Ag (g/t) Zn (%) Pb (%) Ag Eq (g/t) Au Eq (g/t)
DIA22-17 72.0 75.0 3.0 0.26 18.65 0.15 0.07 51.50 0.58
DIA22-18 33.0 42.0 9.0 0.55 15.28 0.38 0.16 87.76 0.99
includes 37.5 40.5 3.0 1.07 38.80 0.63 0.35 175.81 1.98
DIA22-18 48.0 51.0 3.0 0.48 11.35 0.08 0.03 59.14 0.66
DIA22-19 10.5 13.5 3.0 1.36 86.80 1.69 0.91 317.91 3.57
includes 12.0 13.5 1.5 2.11 139.00 2.79 1.24 500.06 5.62
DIA22-19 39.0 45.0 6.0 0.64 11.20 0.31 0.21 89.84 1.01
DIA22-19 48.0 49.5 1.5 0.32 7.60 0.24 0.16 52.76 0.59
Lengths are intersection length. True widths are not known.
*Au and Ag equivalents were calculated using metal prices of US$1660 per ounce Au, US$18.65 per ounce Ag, US$1.32 per
pound Zn, and US$0.83 per pound Pb
Table 2. Summary of 2022 Drilling Program at La Prieta target on Diamante Project
Ten R/C holes were completed at La Prieta , all of which are oriented to intersect depth
projections of known surface and shallow underground workings, stockwork zones and traces of
surface lineaments associated with mineralized occurrences . The drill holes were inclined
between -55˚ and -75˚ and drilled to depths ranging from 72 metres to 126 metres.
Figure 3. Looking eastward, Minera Drilling on DIA22-10 at PAD #7 above and northwest of the
historical mine workings at La Prieta target.
Four holes (DDH22-10 to DDH22-13), two which collared northwest of the adit targeted deeper
projections of the mineralization observed in the underground workings and two which were
drilled from the northwest in a southeasterly and southerly direction toward the western
extension of the know n mineralization and several near -surface showings. Four holes at La
Prieta (DDH22 -16 to DDH22 -19) were located north of the adit and targeted NE -trending,
steeply-dipping mineralization beyond the underground workings. The other two holes
(DDH22-14 to DDH22-15), drilled to the south and south -southeast, were proposed to test more
distant western extensions accompanied by minor surface pits and exposures.
Samples were screened using pXRF analyses during the on -site logging to provide rapid
qualitative data for dyn amic decision-making on drill hole planning and depth targeting. pXRF
anomalies were based on 90 th and 95th percentiles for Ag, Pb, Zn, As, Ba, Cu, Cd, Bi, Sb and Sr
Target DDH# Easting Northing Elevation Azimuth Dip Depth (m) Start Date End Date Lab Shipment
La Prieta DIA22-10 664344 3150307 914 105° 55° 102.0 27-Jun-22 28-Jun-22 5-Jul-22
La Prieta DIA22-11 664340 3150304 930 130° 55° 85.5 29-Jun-22 30-Jun-22 5-Jul-22
La Prieta DIA22-12 664343 3150306 945 165° 55° 81.0 30-Jun-22 2-Jul-22 5-Jul-22
La Prieta DIA22-13 664338 3150304 940 185° 50° 90.0 2-Jul-22 4-Jul-22 5-Jul-22
La Prieta DIA22-14 664317 3150279 929 160° 55° 124.5 5-Jul-22 6-Jul-22 13-Jul-22
La Prieta DIA22-15 664316 3150274 915 185° 55° 126.0 6-Jul-22 8-Jul-22 13-Jul-22
La Prieta DIA22-16 664390 3150312 953 180° 75° 100.5 8-Jul-22 9-Jul-22 13-Jul-22
La Prieta DIA22-17 664383 3150312 955 150° 65° 87.0 9-Jul-22 11-Jul-22 13-Jul-22
La Prieta DIA22-18 664391 3150314 937 130° 75° 72.0 11-Jul-22 12-Jul-22 13-Jul-22
La Prieta DIA22-19 664389 3150313 940 90° 75° 72.0 12-Jul-22 12-Jul-22 13-Jul-22
values. Compilation of the full ALS data package with the pXRF analyses identified a strong
linear relationship for selected metals and pathfinders which will now be applied both to drilling
cost optimization and sample selection protocols for the future Diamante drill programs.
Project Geology
The Property is located within the west -central portion of the Sierra Madre Occidental Volcanic
Complex within the northwest -trending “Sonora Gold Belt” of northern Mexico. Diamante
offers strong precious metal tenor with a polymetallic endowment, multiple quality targets, styles
of mineralization, many with parallel and branching structural control, and of particular
significance for our exploration moving forward, no records of drilling. Historical exploration
and artisanal activities are indicated by surface trenches and subsurface workings parallel to and
cutting the vein mineralization were measured up to 100 metres in length.
Our recent geological mapping programs conducted over multiple targets reported Au values to
51.5 g/t from silicified breccias in the Calton target (see Press Release of April 27, 2022), the
highest Au grade yet reported from Diamante, and Ag values >1,000 g/t were recorded from base
metal sulphide -bearing veins at Pillado, El Chon and El Cumbro accompanied by high -grade
primary and supergene Pb+Zn+Cu up to a combined grade of 50.9 wt.% from grab and channel
sampling. Geochemical results from surface and underground sampling of eight target areas
reported precious metals (Au to 51.5 g/t, Ag to 2,270 g/t), base metals (Pb to 42.3 wt.%, Zn to
22.9 wt.% and Cu to 3.2 wt.%) and pathfinders (Cu, Cd, Sb, Hg, As and Bi ) are lin ked
commonly to Pb and/or Zn. The current assays are consistent with historical surface and U/G
channel samples reported up to 39.8 g/t Au, 3,460 g/t Ag, 18.2% Pb, 33.5% Zn and 1.47% Cu
(see Press Releases of April 12, 2021, and January 24, 2022). Drilling results from the El Pillado
target have been previously released (see Press Release of September 7, 2022) which included
5.56% Zn, 1.76% Pb, 107.35 g/t Ag, and 0.16 g/t Au over an intersection length of 6 m.
Geological features of epithermal Au, low to intermediate sulphidation Ag -Au (Pb -Zn), high
sulphidation Au-Cu, and potential porphyry style Au -Cu occur as disseminated, stockwork and
vein styles. Most drill targets are polymetallic vein style with precious metal -dominant targets
also identified at Calton, El Chon and Aguaje.
Project Background
Silver Spruce can acquire up to 50% interest in four Diamante concessions with a cumulative
land position of 1,057 hectares (see Press Release of April 29, 2021).
The drill-ready Diamante gold-silver (Au-Ag) property is located 5 km northwest of Tepoca, and
165 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico. The Property is well
situated in terms of logistics for exploration and is easily accessible from Me xican Highway #16
which transects Diamante 1 and along several trails and dry river beds southward to Diamante 2.
Geochemical Analysis, Quality Assurance and Quality Control
Drilling samples (¼ splits) were delivered by the Project Geologist from the Property to the ALS
sample preparation facility in Hermosillo, Sonora, Mexico. The remaining ¼ and ½ splits were
transported to Colibri’s storage facilities in Suaqui Grande, south of Tecoripa, Sonora, Mexico.
Sample ship ments comprising a total of 797 samples, including QA/QC insertions, to ALS
Global in Hermosillo were delivered on a weekly basis.
The samples were crushed to 70% passing 2mm (PREP -31) and a split of up to 250 grams
pulverized to 85% passing 75 micrometres ( -200 mesh). The sample pulps and crushed splits
were transferred internally to ALS Global's North Vancouver, Canada or Lima, Peru analytical
facility for gold and multi-element analysis.
Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption
finish (Au-AA24). The retained pulps also were processed by Four Acid Digestion followed by
Inductively Coupled Plasma Atom ic Emission Spectrometry (ICP -AES) multi-element analyses
(ME-ICP61m) with Hg by Aqua Regia and ICP-MS (Hg-MS42). Over-limit Au and Ag samples
were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au -GRA21 or Au -GRA22,
Ag-GRA21). Overlimit base metals are analyzed by Four Acid Digestion followed by Ore
Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP -AES) for Cu, Pb and
Zn (Cu-OG62, Pb -OG62, Zn -OG62). High grade samples above the range of the Ore Grade
OG62 analysis are digested, as above, and analyzed using Titration (e.g., Pb-Vol70).
Local chain of custody was monitored and maintained by the Project Geologist under the
direction of the QP. In-house quality control samples were inserted into the sample set by the
Project Geologist. ALS Global conducts its own internal QA/QC program of blanks, standards
and duplicates, and the results are provided with the Company sample certificates. The results of
the internal and ALS control samples w ill be reviewed by the Company's QP and evaluated for
acceptable tolerances prior to disclosure. All sample and pulp rejects will be stored at ALS
Global pending full review of the analytical data, and future selection of pulps for independent
third-party check analyses, as requisite. ALS Global in North Vancouver, British Columbia,
Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the
Standards Council of Canada.
Metal values disclosed herein by the Companies are reported from representative splits of drill
chip samples whereas those reported from grab and channel samples from earlier programs may
not be representative of the metal grades. The Company’s Qualified Person believes that the
sampling documentation, analytical protocols and quantitative data will withstand s crutiny for
inclusion.
Qualified Person
Greg Davison, PGeo , Silver Spruce VP Exploration and Director, is the Company’s internal
Qualified Person for the Diamante Project and is responsible for approval of the technical
content of this press release within the meaning of National Instrument 43 -101 Standards of
Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed
Definitive Agreements to acquire 100% of the Melchett Lake Zn -Au-Ag project in northern
Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% intere st in Yaque
Minerales S.A de C.V. holding the El Mezquite Au project, and up to 50% interest in Colibri's
Diamante Au-Ag project. Silver Spruce recently signed a 50:50 joint venture agreement with
Colibri on the Jackie Au project. Silver Spruce signed a Definitive Agreement to acquire 100%
interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and
Labrador. The Company signed an Agreement to earn 100% interest in the Pino de Plata Ag
project in western Chihuahua, Mexico. Silv er Spruce Resources Inc. continues to investigate
opportunities that Management has identified or that have been presented to the Company for
consideration.
Contact:
Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
Michael Kinley, CEO
(902) 402-0388
www.silverspruceresources.com
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward -looking statements," Statements in this press release which are not purely historical are
forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future,
including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties associated with m ineral exploration and difficulties associated with obtaining financing
on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news r elease, and we assume no obligation to update the forward -
looking statements, or to update the reasons why actual results could differ from those projected in the forward -looking
statements. Although we believe that the beliefs, plans, expectations and int entions contained in this press release are
reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.