Silver Spruce receives permits, signs drill contract and mobilizes to Tote Brook target in Marilyn claims at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador
Silver Spruce receives permits, signs drill contract and mobilizes to Tote Brook target in
Marilyn claims at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador
December 1, 202 3 - Bedford, NS - (TSXV:SSE) – Silver Spruce Resources, Inc. ("Silver
Spruce" or the "Company") is pleased to announ ce receipt of our permits and drill mobilization
for the Tote Brook target at the 602-claim Mystery Au project (“Mystery”) (see Figure 1).
“Our drill permit was approved by the Mineral Lands Division of the Department of Industry,
Energy and Technology (IET) and access for the drilling was granted by the Ministry of
Transport. The Company recently signed a contract with Trust Drilling of Springdale, NL and
their rig was mobilized to the Tote Brook target (Figures 1, 2 and 3) this week with diamond
drilling scheduled to start immediately upon arrival ”, said Greg Davison, Silver Spruce VP
Exploration and Director . “A second drill target in the southern claim showed elevated Au, As
and Sb in exposed quartz and chalcedony veins will follow at the earliest opportunity.”
Figure 1. Map of the core and southern areas of the Marilyn property regional geological map and
sampling locations. Tote Brook target located in E-W trending lineament with quartz and calcite veins
and breccias. Geology units with contacts shown from east to west – Mount Peyton intrusion (red),
Badger Group (pale brown) and Botwood Group (brown).
“We met our goal for the summer programs completing rock and soil sampling, structural
mapping and regional till sampling with a primary view to drill target generation in Q4 2023.
Media Release
Tote Brook
drill target
The Company is excited to begin a 4 -hole, 1 ,000-1,500metre program to target the downdip
projection of the surface vein exposures at Tote Brook and look forward to receiving promising
core samples over the next few weeks”, added Mr. Davison. “Sawn core will be sampled and
sent to Eastern Analytical in Springdale, NL for precious metal assays. Core photographs and
interval descriptions will be provided in due course.”
Four holes (two scissor sections) directed to the north and south are proposed from the collars
TB01 and TB02, respectively, to intersect the down -dip projection of the veins. Trust Drilling
will supply a new Duralite Rig(DL1400), moveable with tracks, 5 -Ton excavator, Marooka track
vehicle and all the necessary supplies associated for NQ core drilling using in -house logistics
support (Figures 2 and 3).
Figure 2. Marilyn property - Trust Drilling rig mobilizing to Tote Brook
The Tote B rook prospe ct is l ocated 22km south of the int ersection between B ay d’Espoir
Highway and the Tran s-Canada Highway. Phase 1 drill targeting on Tote Creek is focused
where structural geological mapping on the ground and desktop analysis of the property
geophysics identified a coincident E -W topographic and magnetic lineament in the Badger
Group and western contact of the Mount Peyton Intrusion (MPIS) Surface exposures of steeply
south-dipping, multi-stage quartz -carbonate veins and breccias with silicification,
carbonatization and vuggy to drusy quartz and laminated chalcedonic textures exposed along the
banks of Tote Brook.
The east -northeast zone of brecciation is 8-10m wide and p arallel to Tote Br ook. Alo ng the
north bank of the brook a vein of massi ve, bl aded cal cite is exposed f or approx imately 50m
along a similar orientation to the quartz veins. Locally-sourced angular boulders of quartz vein
material have been di scovered by pr ospectors above the calcite vein. The hydrothermal system
covers an estimated 55m width on surface.
Prospecting of the new Marilyn claims identified localized float and outcropping rock samples
showing intense silicification with iron carbonate accompanied by multi -phase siliceous veins
and breccias, and minor to trace arsenopyrite, pyrite, chalcopyrite and malachite. Gold to
1035ppb, arsenic to >1000ppm and antimony to 346ppm are typical to the coincident precious
metals and pathfinder elements of the regional orogenic mineralizing systems.
Figure 3. Marilyn property - Trust Drilling rig mobilized on first collar at Tote Brook
The eastern side of the property is mo stly underlain by mafic intrusions of the MPIS. The
western side of the property is mapped as a narrow window of Ordo-Silurian age Badger
greywacke overlain by extensive Botwood metasediments. The erosio nal pattern suggests a
westerly dip though exposures are very limited by a veneer of glacial till. The regional and our
2022 high-resolution airborne mag netic survey is strongly in fluenced by the sharp, northerly -
trending boundary of the MPIS with local decreases in magnetic intensity interpreted as
embayments by the overlying siliciclastic rocks of the Badger Group.
Exploration Going Forward
The Properties comprise a large, virtually untested area with many outcrop showings and
mineralized float, prospective geology, and regional and second order geophysical structures
within and adjacent to our holdings. The Company has staged plans to continue regional till
sampling for gold grain analysis and soil geochemistry, regional and property scale airborne
geophysical compilation and interpretation, prospecting, ArcGIS geological and geophysical data
compilation and grid soil sampling with a tighter grid spacing. Further wide -spaced sampling
also is proposed for both the currently incomplete areas near anomalous sample results and infill
sampling for several targets of the claim package.
Contracting for detailed compilation and interpretation of the regional geophysics and Property
airborne data was announced recently (see Press Release of November 9, 2023). Mineral
textures and chemistry point to high -level epizonal veins though more evaluation of the spatial
position within the system is clearly warranted. Further work to isolate and orient the bedrock
source and define Au -bearing drill targets in the southern Marilyn claim also will be a focus of
the follow-up field program.
Project Background
The Company signed a Definitive Agreement in September 2021 with two parties (the
“Vendors”) to acquire 100% of three early -stage gold exploration properties, Mystery, Till and
Marilyn, 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 . Map staking (see Press Release February 8, 2023) of
additional claims tied to both the Marilyn and Till properties effectively doubled property
coverage to 148 square kilometres (14,790 ha). The new claims are subject to first rights under
the 5 km Area of Interest in the Agreement and occur adjacent to several gold grain and
geochemical anomalies reported from the Company’s 2021 and 2022 Phase 1 programs.
The Properties are located within the Exploits Subzone, an extensive area of mineral exploration
activity and discoveries over the past four years and are well situated in terms of exploration
logistics 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 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 with several million ounces of gold as reported by junior companies.
Early work on the Mystery Lake area reported massive to semi -massive occurrences of
arsenopyrite and gold assay values to 17 ,678 ppb (17.7 g/t Au). Historical assays were reported
for 123 samples collected by the Vendor 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 in thirty -
six samples reporting over 2 ,200 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 gold, arsenopyrite, stibnite, chalcopyrite,
bornite and Cu carbonate mineralization.
Silver Spruce received an independent due diligence report on the mineral and rock textures
potentially related to shallow epithermal and/or orogenic vein -style mineralization. The
Company completed an initial phase of till and soil sampling in late 2021, and an airborne
magnetic, VLF-EM and radiometric survey in February 2022 (see Press Release of February 23,
2022). The Company’s reconnaissance sampling (95 sites) was completed before the winter
2021 shutdown and an additional thirty-four of the readily accessible sites were tested during the
2022 field season. A total of twenty -seven (27) rock samples, one hundred and eight (108) soil
samples and 65 till and soil samples were collected during the recent 2023 exploration programs.
The 2023 till sampling (66 sites) of the new claims identified our best gold grain frequency data
so far with a maximum of thirty-nine grains in GR-37 in the southern part of the claims and other
significant results spread from north to south throughout the Marilyn claims.
Qualified Person
Greg Davison, PGeo , Silver Spruce VP Exploration and Director, is the Company’s internal
Qualified Person for the Mystery 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, 100% interest in the Mystery Au project near 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 Chihuahua, Mexico and up to 50% interest in Colibri Resource’s
Diamante Au-Ag project near Alamos's Nicho deposit in Sonora, Mexico. Silver Spruce signed
a 50:50 joint venture agreement with Colibri on the nearby Jackie Au project , Sonora, Mexico .
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”.
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.