Silver Spruce Completes Pino de Plata Field Work and Expands High Grade Silver Targets for Phase I Drilling
Silver Spruce Completes Pino de Plata Field Work and
Expands High Grade Silver Targets for Phase I Drilling
May 9, 2019 - Bridgewater, NS - (TSXV:SSE) – Silver Spruce Resources Inc. ("Silver Spruce" or
the "Company") is pleased to announce the very positive results and conclusions from the recently
completed field program at Pino de Plata project in western Chihuahua State, Mexico, located just
15 straight -line kilometres from Coeur Mining’s Palmarejo gold and silver mine . The work
program was conducted by ProDeMin geological services company under the direction and
supervision of Qualified Person, Dr. Craig Gibson, Ph.D. (The complete report can be viewed at:
http://www.silverspruceresources.com/i/pdf/reports-and-
tables/Final_report_on_Pino_de_Plata_field_program_3_May_2019.pdf)
The Field Program:
▪ Expanded areas of intrusive-related alteration and mineralization to 50+ hectares
▪ Confirmed high silver grades are present on surface at El Terrero and Gossan areas
▪ Added three new vein targets at La Perla, Santa Clara and El Muro vein systems
▪ Refined drill collar locations and orientations to optimize targeting
▪ Company is now prepared to start the Phase I drilling
Report Conclusions (reprinted verbatim from the report; bold type added for emphasis)
“The recent study at Pino de Plata was directed towards understanding the mineralization to be
able to further refine the drill program. Several cross sections were laid out for the drill holes
recommended for the first phase of drilling. ” (Please see cross sections at :
http://silverspruceresources.com/s/Pino-de-Plata_DrillingMaps.asp)
“• Eight targets were identified for drill testing: gossans in the Gossan zone, skarn/replacements
at Santa Elena, the Terrero mine target, the la Perla vein and associated alteration zone, the Santa
Clara vein, the Theodora vein, the Sierpe veins and associated alteration, and the newly defined
Muro vein. ” (Please view Geologic Map with proposed drill hole locations at:
http://silverspruceresources.com/i/maps/pdp/Pino_de_Plata_(Geology_Drillpad_location_actual
_sites_S.jpg)
Company comment: Each of these target areas have outcropping mineralization that has been
mapped and sampled.
“• Based on field observations, the Terrero and Gossan are large targets with potential for
encountering wide zones of mineralization. Both areas exhibit strong iron oxides a fter original
sulfide minerals.”
Media Release
Company comment: The combined area of the Terrero and Gossan target alteration is now over
fifty hectares. XRF and NIR surveys show anomalous intrusive and replacement-related indicator
elements associated elements. (Please view XR F and NIR Geochemistry maps at :
http://silverspruceresources.com/s/Pino-de-Plata_XRay.asp)
“• The Terrero target is a relatively flat -lying body that appears to consist of multiple structures
associated with strong argillic alteration and abundant iron oxides and jarosite due to oxidation of
original pyrite and possibly other sulfide minerals. Surface exposures as well as dumps have
yielded high silver and base metal values, and similar assays were reported by the
government geological survey from underground workings. Also, similar alteration
extending to the west to La Perla and Sierpe and northeast towards Santa Clara indicates
potential for extending mineralization along strike, to be tested by drilling.”
Company comment: Recent samples confirm the high grades of mineralization previously
sampled by the Company and the historical high grades reported by the previous owner and in
three previous reports by the Mexico geologic service (Servicio Geologico Mexicano, or “SGM”).
(Please see Historical Multi-element Analysis maps at: http://silverspruceresources.com/s/Pino-
de-Plata_Servicio.asp)
“• The gossans have elevated base metal values and seem to be related to oxidation of
replacement mineralization. They may be partly controlled by northerly and easterly structures
similar to other areas on the project. Oxidized zones in the intrusive near the contact with hornfels
away from the main gossan exposures may be indicative of similar targets in the subsurface.”
Company comment: Highly anomalous levels of silver, lead, zinc, copper and iron at the surface
of the heavily weathered gossan is likely leftover from the original sulfide mine ralization (i.e.,
Argentite-AgS, Galena-PbS, Sphalerite-ZnS, Chalcopyrite-CuFeS2, Pyrite-FeS2) which has been
leached by weathering from surface outcrop. Enriched mineralized layers of rock may exist below
the surface and will be drill tested.
“• The strongly altered rocks around the Sierpe I vein also have visually high iron content
apparently after sulfides that extends underneath younger volcanic rocks and also comprises a
large target that surrounds the vein itself.”
Company comment: The high grades of silver sampled at the Sierpe I vein is contained within a
large volume of altered intrusive rock that extends 850 metres west from the Terrero mine area.
This rock may contain disseminated mineralization and could host a large volume of mineralized
rock from surface.
Drill Ready
The Company holds a permit to drill 30 holes, which includes locations for Phase I and Phase II
drill programs. All planned Phase I drill holes will be collared on existing roads that pass over or
adjacent to the targets, with no new access roads required. A surface access agreement is in place,
as is required to obtain the permit.
The programmed Phase I drilling will consist of HQ core , twelve holes, for an estimat ed total of
2000+ metres. The Company has received bids from seven drill companies and is currently making
its final selection. Once notified, the prevailing drill company will mobilize the diamond drill and
crew within a couple of weeks and commence drilling.
Quality Assurance/Quality Control
Samples were prepared and analyzed by ALS Global, a certified worldwide analytical services
provider at their facilities in Chihuahua and Vancouver, respectively. Analysis was by the AuME-
TL43 method, with analysis of all elements by ICP -MS and ICP-AES with aqua regia digestion.
Au was determined as part of the pac kage with a 25 gram digestion. Over-limits for Ag and Pb,
values of >100g/t and >10,000ppm, respectively, were completed by the OG -46 method by IC P
and aqua regia digestion.
Dr. Gibson supervised the data collection and sampling at the project as well as data compilation,
drafting and interpretation. The Company uses standard QA/QC procedures, including inse rting
control samples, standards and blanks, in the sample stream. No quality assurance/quality control
issues have been identified to date.
Qualified Person
Dr. Craig Gibson, Ph.D., CPG, is the Company’s external Qualified Person for the Pino de Plata
project and is responsible for 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 pursuing development of
the Pino De Plata project, located in the prolific Sierra Madre Occidental region of western
Chihuahua State in Mexico. The Company also holds an indirect interest in the Kay Mine project
according to terms of the sale agreement with Croesus Gold Corp., which was announced in the
Company’s news release on January 30, 2019. Silver Spruce Resources Inc. continues to
investigate opportunities that Management has identified or that have been presented to the
Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
www.silverspruceresources.com