Silver Spruce Engages Phase 1 Gold Grain in Till Sampling and Geochemistry Program at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador
Silver Spruce Engages Phase 1 Gold Grain in Till Sampling and Geochemistry Program at
Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador
November 8, 2021 - Bedford, NS - (TSXV:SSE) - Silver Spruce Resources, Inc. ("Silver Spruce"
or the "Company") is pleased to announce the engagement of an exploration team, managed by
the Property Vendor, to carry out gold grain in till sampling and soil geochemical sampling on the
Mystery Au project (“Mystery”). The Company recently signed a Definitive Agreement with two
parties (the “Vendors”) to acquire 100% of three early-stage gold exploration properties, Mystery,
Till and Marilyn, (the “Property” or the “Properties”) located near Grand Falls, Newfoundland and
Labrador, Canada, 20-25 kilometres west of New Found Gold Corp.’s Queensway project and 15-
35 kilometres south of Sokoman Minerals Corp.’s Moosehead gold project (Figure 1).
"We are now approved to engage the exploration programs and the field team is “boots on the
ground” today conducting the Phase 1 sampling program,” said Greg Davison, Silver Spruce Vice-
President Exploration and Director. “The Properties comprise a large, virtually untested area given
the number of showings, prospective geology and regional geophysical structures within and
adjacent to our holdings . The wide -spaced gold grain in till sampling program’s location,
frequency, size and shape distribution data will provide the first pass exploration filter over our
forthcoming airborne geophysical survey base map from our MPX Geophysics survey.”
The gold grain in till program is underway with B zone soil geochemical sampling over a planned
184 locations (Figures 2 and 3 for Mystery Lake and Marilyn blocks). The till samples, expected
to average 12kg in weight of screened -¼” or -½” material, will be shipped to Nepean, Ontario and
submitted to Overburden Drilling Management (“ODM”) for processing and gold grain analysis .
ODM is the industry pioneer and global leader in heavy mineral geochemistry and has pioneered
innovative indicator mineral techniques for gold, Ni-Cu-PGE, Cu-Zn-Pb, porphyry Cu, kimberlite
(diamond), uranium and rare earth element exploration. The soil samples will be shipped to ALS
Global in North Vancouver for precious metal and multi-element analysis. ALS Global in North
Vancouver, British Columbia, Canada, is a facility ce rtified as ISO 9001:2008 and accredited to
ISO/IEC 17025:2005 from the Standards Council of Canada.
Exploration Plan
The Company has staged plans to complete, with its receipt of exploration approvals from the
Mineral Lands Division of the Government of Newfoundland and Labrador, regional till sampling
for gold grain analysis and soil geochemistry, prospecting, airborne geophysics, QA/QC program
development, ArcGIS geological and geophysical data compilation and as warranted by the Phase
1 results, submit additional permit applications to undertake a detailed geological mapping and
sampling program, grid soil sampling and planning for our first exploration drill campaign during
the summer of 2022 . All aspects of the exploration program will be conducted wi th strict
adherence to COVID-19 protocols for personal safety.
Media Release
Figure 1. Map of the Mystery project claims, named from north to south, Marilyn, Till and Mystery,
located only 20-50km south of Bishop’s Falls, Newfoundland.
Figure 2. Map of the Mystery Lake claim block showing proposed wide-spaced Phase 1 till and B soil
sampling locations. Hashed areas are third party claims.
Figure 3. Map of the Marilyn claim block showing proposed wide-spaced Phase 1 till and B soil sampling
locations. The claims are transected from north to south by the Bay d’Espoir Highway.
Project Background
The 8,750-hectare project is located within the Exploits Subzone, an extensive area of mineral
exploration activity and discoveries over the past two years. The Properties are well situated in
terms of exploration logistics, located close to each other an d 10 -45 kilometres south by Bay
d’Espoir Highway from Bishop’s Falls, Newfoundland. The Properties are located <70 kilometres
from the Gander International Airport and are easily accessible from major paved roads and local
logging and bush roads and trails.
The region is structurally complex and located, in large part, between several major crustal
lineaments. Numerous major to lesser sub -parallel features merge and bifurcate along strike and
are transected by NW and EW -trending faults. These deep-seated structures, which juxtapose
geological terranes over hundreds of kilometres, are key to the location and formation of orogenic
gold deposits containing several million ounces of gold as reported by junior companies in the
district.
The Properties have seen little structured exploration to date. Prospecting by the Vendor is the
only exploration conducted during the past ten years. Silver Spruce expedited its initial site visit
on the Properties during the week of August 23rd and received an ind ependent positive initial
report on the mineral and rock textures potentially related to shallow epithermal and/or orogenic
vein-style mineralization. Silver Spruce recently verified sample locations for the historical assays
and collected new rock samples. The results remain pending and will be reported in due course.
A selection of historical assays was reported for precious and base metals and pathfinder elements
from 123 samples collected from Mystery and Marilyn (see Press Release of September 14, 2021).
Eighteen samples reported Au >0.5 g/t (max. 12.5 g/t Au). Cu values were reported up to 9.85%
with minor Ag, Pb and Zn. Arsenic was highly anomalous with values for thirty-six samples over
the 2200 ppm upper limit for Inductively Coupled Plasma (ICP-OES) analysis, strongly associated
with elevated Au values and displayed as minor to abundant arsenopyrite.
Multiple surface occurrences are reported of agate chalcedony to colloform and crystalline silica
veining and multi-phase breccias, carbonate replacement by quartz, and open-space filling quartz
and calcite, all textures indicative of the upper zones of epithermal systems and structural conduits
in orogenic systems and are accompanied by Au and arsenopyrite, stibnite, chalcopyrite, bornite
and Cu carbonate mineralization in several host lithologies including quartz veins, black shale and
other sedimentary units, and ultramafic and gabbroic intrusions.
All metal values disclosed herein for the Mystery and Marilyn properties by past operators,
including the Vendors, and by Silver Spruce are reported from grab samples which may not be
representative of the metal grades, or the metal grade distribution, and those from previous
exploration efforts must be considered as historical in nature.
Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal
Qualified Person for the Mystery, Marilyn and Till Projects 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% interest in Yaque
Minerales S.A de C.V. holding the El Mezquite Au project, a drill -ready precious metal project,
and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au -Ag projects,
with the three properties located from 5 kilometres to 15 kilometres northwest from Minera
Alamos's Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready
and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's
Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive
Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold
Belt, located 15 -40 kilometres from recent discoveries by Sokoman Minerals Corp. and New
Found Gold Corp., Newfoundland and Labrador . 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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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 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 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 i ntentions contained in this press release are reasonable, there can
be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.