Silver Spruce and partner Colibri Resource launch 2024 drilling program on El Pillado polymetallic target at Diamante Au-Ag project, Sonora, Mexico
Silver Spruce and partner Colibri Resource launch 2024 drilling program on El Pillado
polymetallic target at Diamante Au-Ag project, Sonora, Mexico
April 18, 2024 - Bedford, NS - (TSXV:SSE) - Silver Spruce Resources Inc. ("Silver Spruce" or
the "Company") along with our partner Colibri Resource Corp. (“Colibri” and together with
Silver Spruce, the “Companies”), jointly announce the initiation of core drilling operations at the
El Pill ado polymetallic target for our second drilling program at the Diamante project
(“Diamante or the “Property ”). The 10-hole, 1,050-metre program will test new priority target
areas and build on positive results from the 2022 and 2023 exploration programs (Table 1, Figure
1).
“The Companies’ exploration team and contra ctors are proceeding with their follow-up target
drilling initiated on El Pillado on the Diamante 1 concession and additional drill holes planned
southeast of El Pillado and at La Prieta , both on Diam ante 1 and three holes at Mezquite
Raizudo in the northern section of Diamante 2. Trails and drill pads were prepared prior to and
after the drill team arriving on site ,” stated Greg Davison, Silver Spruce Vice -President
Exploration and Director. “We are pleased with the high quality of the drill core being
recovered to date from the first holes from the El Pi llado target by Diamond Drills Mexico
(“DDM”) S.A. de C.V. based in Hermosillo, Sonora, Mexic o, and we look forward to identifying
extensions to the previously drilled areas a nd opportuniti es for target definition based on the
geological and geophysical interpretations for the two new targets.”
Table 1. Planned 2024 Diamante core drilling program – 10 holes, 1,050 metres
The drill-ready 1,057-ha Diamante gold-silver (Au-Ag) property is located 8 km northwest of the
town of Tepoca, and 160 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico
(Figure 1). Diamante offers strong precious metal tenor with a polymetallic endowment,
multiple quality targets, styles of mineralization, limited artisanal mining and small -scale
production, of particular significance for our exploration moving forward, no records of drilling
Media Release
Drill Hole ID Easting Northing Elevation Depth Plan Inclination Azimuth Target
PDO24-001 665051 3149556 880 125 45 135 El Pillado follow-up
PDO24-002 665073 3149586 888 125 45 135 El Pillado follow-up
PTA24-001 664393 3150340 949 100 55 140 La Prieta follow-up
PTA24-002 664408 3150358 958 125 70 140 La Prieta follow-up
PilResS24-001 665175 3149445 950 100 55 0 Pillado Resistivity Survey targets
PilResS24-002 665175 3149480 953 100 45 180 Pillado Resistivity Survey targets
PilResS24-003 665172 3149322 892 75 45 0 Pillado Resistivity Survey targets
PDH-013 664486 3147343 900 100 45 0 North Diamante II targets
PDH-014 664351 3147241 939 100 45 315 North Diamante II targets
PDH-015 664233 3147144 969 100 45 315 North Diamante II targets
prior to the Companies’ recent program. Agreements were signed with several ranches on the
claims enabling land access to the selected 10 drill targets. The Companies report that core
drilling was initiated by DDM using a Duralite 250B Man portable dril l (Figure 2) and local
heavy equipment remained on site to complete trail and drill pad preparation (Figure 3).
Figure 1. Diamante 1 and 2 Concessions, north and south, respectively, showing current targets for 2024
program. Regional location shown in southeastern Sonora State, Mexico. Eight principal drill target
areas with 17 permitted pads and requisite access routes (DIA 1 - La Prieta, El Pillado-El Caso-La Cruz,
El Chon-El Chon Ouest, DIA 2 – Mezquite Raizudo, Calton, Anomalia Sur) are shown on shaded
topography (GMCA report, January 2024).
Diamante Exploration
The Diamante property hosts numerous historical artisanal and small -scale mining sites and
combined with mineralization on the Jackie propert y exhibit the geological characteristics of
epithermal low to intermediate sulfidation Ag-Au (Pb-Zn), high sulfidation Au-Cu, and potential
transition zones within and peripheral to porphyry style Au-Cu mineralization.
Sporadic surface exploration since 2011 has resulted in several surface showings comprised of
epithermal precious and base metal mineralization (Au -Ag+/-Cu, Pb, Zn). Colibri and Silver
Spruce commenced geochemical and geological exploration activities on Diamante during 2021.
The 2022 exploration plans included a 2,000 metre reverse circulation drill program on Diamante
1 and 2 to evaluate four to seven of the principal targets exhibiting high grades of polymetallic
Au-Ag-Pb-Zn-Cu mineralization with coincident alteration, shearing and veining.
Mineralization was reported visually as pyrite, arsenopyrite, chalcopyrite, sphalerite,
argentiferous galena, argentite, hematite and probable metal oxides, carbonates and sulphates,
including copper carbonate (malachite), copper sulphates and plumbojarosite.
La Prieta El Pillado
Pillado Sud
Mezquite Raizudo
Figure 2. Drilling inclined hole to southeast at El Pillado target northwest of historical mine portal
Colibri (operator) and Silver Spruce completed the first-ever drill program on Diamante at the El
Pillado and La Prieta targets located on Diamante 1. Results from the 2022 drilling include 2.48
grams per tonne ("g/t") Au and 56.7 g/t Ag over an intersection length of 9.0 metres ("m") from
La Prieta and 0.26 g/t Au and 184.5 g/t Ag over an intersection length of 6.0 m from El Pillado.
Drilling at both targets intersected highly anomalous base metals in highlighted drill assay
intervals. Through the fall of 2023, Colibri and Silver Spruce completed a program of geological
mapping, rock sampling and stream sediment sampling on Diamante resulting in the discovery of
two new surface showings (see Colibri press release January 9, 2024 ). The prioritization of
targets and drill plan for Diamante was based on this work combined with comprehensive
compilation and interpretation of historical exploration information.
The targets under consideration for current and future drilling include La Prieta -Aguaje, El
Chon-El Chon Oeste, La Olla -La Cruz, Pillado -El Caso, Calton, El Cumbro and Mezquite -
Raizudo targets (see Silver Spruce press releases of April 26, 2021 , January 24, 2022, and April
10, 2024, and Colibri press release January 9, 202 4). Disseminated and stockwork
mineralization at Anomalía Sur and El Puerto offer two known bulk tonnage targets for
subsequent drilling programs.
Project Background
Silver Spruce can acquire up to 50% interest in the Diamante concessions with a cumulative land
position of 1,057 hectares (see Press Release of April 29, 2021). The Diamante property consists
of the Diamante 1 and Diamante 2 concessions located adjacent to the Jackie property which
covers 1,113 hectares providing Silver Spruce with a total of 2,170 hectares of exploration
ground. The Property is very well situated in terms of resource and logistics for exploration and
is easily accessible from Sonora state Highway 16 which transects Diamante 1 and on several
ranch trails and dry river beds to Diamante 2.
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 . Mining and
exploration in the surrounding area is very active with adjacent and nearby properties held by
Alamos Gold, Argonaut, Agnico Eagle, Evrim, Newmont, Garibaldi, Kootenay Silver and
Penoles among others. Diamante is located approximately 12 km north west of Minera Alamos'
Santana Au development project which is nearing commercial production.
Figure 3. New drill pad ready for rig mobilization on the El Pillado target at Diamante 1.
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.
Jamie Lavigne, P. Geo . and a Director for Colibri is a Qualified Person as defined in NI 43 -101
and has reviewed and approved the technical information in this press release.
Figure 4. Preliminary examples of high quality drill core from the El Pillado target. Close-up image on
the right clearly shows altered volcanics with multiple stages and orientations of veinlets and brecciation
with dark blue and green metal sulphides along fractures and fragments within quartz-carbonate matrix.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% of the
Melchett Lake Zn -Au-Ag project in northern Ontario and has signed Definitive Agreements to
acquire 100% interest in the Mystery Au project near recent discoveries by Sokoman Minerals
Corp. and New Found Gold Corp. among others in the Exploits Gold Belt, Newfoundland and
Labrador, 100% interest in the Pino de Plata Ag project located 15 kilometres west of Coeur
Mining's Palmarejo Mine in western Chihuahua, Mexico and up to 50% interest in Colibri
Resource’s Diamante Au-Ag project located from 5 kilometres to 15 kilometres northwest from
Minera Alamos's Nicho deposit in Sonora, Mexico. Silver Spruce also has a 50:50 joint venture
agreement with Colibri on the nearby Jackie Au project. Silver 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 mineral exploration and difficulties associated with obtaining finan cing
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 release, 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 intentions contained in this press release are
reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.