Silver Spruce Provides Update on Pino de Plata Project Plans for Maiden Drill Program
Silver Spruce Provides Update on Pino de Plata Project Plans
for Maiden Drill Program
November 15, 2017 - Bridgewater, NS - (TSXV:SSE)(Frankfort-S6Q) – Silver Spruce Resources
Inc. ("Silver Spruce" or the "Company") is pleased to announce that it has restarted the permitting
process for initiating the drill program at its Pino de Plata silver project. The 397-hectare (Ha)
project is located in the Sierra Madre Occidental of Western Chihuahua State, Mexico,
approximately 15 kilometres west from Coeur Mining’s Palmarejo silver project and
approximately 12 kilometres due south of the town of Chinipas, Chihuahua State, Mexico.
The Company has obtained assurance from the surface land owners that they will sign the formal
permitting applications necessary to submit to the Department of Mines and SEMARNAT in
order to obtain the permits for constructing road access to some drill locations and new drill pads.
Silver Spruce has contracted PRODEMIN, SA de CV to manage the environmental permit
applications, and a local contractor will be hired to complete the required earthworks for access
road rehabilitation and creation of drill pads where needed.
“We are delighted to be back on track at Pino de Plata. Surface land owners with ranches on our
project have agreed to grant access for the drill campaign that is slated to commence after the
Christmas holidays,” stated Karl Boltz, CEO of Silver Spruce.
On previous site visits, Silver Spruce’s field team successfully positioned the proposed drill hole
locations and mapped the new road access for the upcoming drill program at the project. The team
also completed onsite tours with representatives of three drilling companies that are submitting
bids for the drilling contract. T his first-ever drill program at the project is based on
recommendations contained in the NI 43 -101 report, which is available on our website at
www.silverspruceresources.com and is filed on www.sedar.com.
El Terrero Target
The first high priority drill target is El Terrero, a 2,000 square metre area of disseminated
epithermal mineralization in igneous (intrusive) rock, characterized by at least five adit portals
and a significant tailings pile left by Spanish miners active in the 1880’s. During the property
visit for the NI 43 -101 report, surface grab samples were collected and returned values to a
maximum of 557 grams per tonne (g/t) s ilver (Ag) or ( over 17 .9 ounces per tonne (opt) Ag ).
These samples also returned highly anomalous values of gold (Au), lead (Pb) , zinc (Zn) and
copper (Cu). Six holes are planned with targeted depths to 100 metres.
Theodora Vein Targets
The second high priority drill target is focussed on the veins in the Theodora through El Sierpe I
and II areas. Verification samples collected and analysed for the NI 43-101 report returned values
up to 553 g/t (17.78 opt) Ag. T hese samples also returned anomalous values of gold (Au), l ead
(Pb), zinc (Zn) and copper (Cu). Three holes are proposed with planned depths to 100 metres.
Santa Elena – Gossan Target
The third high priority target is the Santa Elena – Gossan Area which presents a viable target for
replacement Ag-Pb-Zn-Cu deposits. Unoxidized replacement mineralization from the Santa Elena
Mine assayed up to 349 g/t Ag. The gossans are anomalous in Ag and base metals and indic ates
the possibility of economic grades in the unweathered marble. This area has the potential for
relatively shallow replacement mineralization over an area of over 20 square hectares. An
enrichment layer may be encountered by drilling below the weathered surface of the outcropping
and highly weathered gossan. Three to five drill holes are proposed in this target area with
planned depths of up to 100 m etres. If any of the above mentioned drill holes reach total target
depth and remain in mineralized rock, the Company intends to continue the hole(s) to a maximum
depth of up to 300 metres.
About Pino de Plata
The 397- hectare Pino de Plata Ag -Pb-Zn-Cu-Au project is located approximately fifteen
kilometres west from Coeur Mining Inc.’s Palmarejo open pit and underground operations.
Although the Pino de Plata project has supported small scale historical production of high -grade
mineralization from numerous areas, it had never been systematically explored and has had no
drilling.
Ninety-two rock samples were taken during the NI 43 -101 field examination. The highlights are
available at: http://www.silverspruceresources.com/i/pdf/reports-and-tables/Selected-Assays-
PdP.pdf The analytical results show the examined project area to host epithermal mineralization
at surface with silver values, on average, of greater than 50 g/t (1.6 opt), over an area of more
than 1 square km (>100 Ha). S pecific targets were sampled with silver (Ag) assays of up to 557
g/t or 17.9 opt in outcrop.
Three types of mineralization were identified in the NI 43 -101 report: disseminated epithermal
mineralization in igneous (intrusive) rock, carbonate replacement mineralization in
limestone/marble and sandstone/hornfels , and several areas of significant outcropping vein
mineralization. Each of the host areas identified in the NI 43-101 technical report provide
immediate drill targets with open pit potential.
The Company intends to initiate a 1,500+ metre diamond drill program to test these defined
targets where high grades of mineralization were sampled at surface.
Qualified Person
Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, is the
author of the Company’s NI 43-101 report on the Pino de Plata project, dated 7 July 2015.
Mr. Greg Davison, MSc, PGeo, professional geologist and the Company's internal Qualified
Person 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 well -positioned Canadian junior exploration company pursuing
exploration and development of the past -producing Kay Mine volcanogenic massive sulfide
(“VMS”) project in Arizona, USA, and the exploration of the Pino De Plata and the Encino De
Oro epithermal silver/ base metal/ gold projects located in the prolific Sierra Madre Occidental
region of western Chihuahua State in Mexico.
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
Toll Free: (866) 641-3397
www.silverspruceresources.com