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News - Wednesday, May 23, 2007
Silver Spruce Drilling at Mother Lode Gold Property
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May 23, 2007, Bridgewater, NS--Silver Spruce Resources Inc. (TSXV: SSE)
is pleased to announce that it is drilling a minimum 700 metre program
on the Mother Lode gold property, located on the Burin Peninsula in
southeastern Newfoundland. The drilling began on May 10th and should be
completed by the end of the month. The property was optioned by Silver
Spruce in January, 2006 (see news release dated January 6, 2006).
Silver Spruce can earn a 100 percent interest in the property, subject
to a two percent Net Smelter Return.
Silver Spruce's main focus continues to be uranium exploration in the
Central Mineral Belt of Labrador. The company is currently completing
an intensive exploration program including: a minimum 8,000m drill
program that will lead to the company's first-ever uranium resource
calculation.
Prospecting, geological mapping and grab and float sampling of
mineralized, altered units at Mother Lode have given sporadic gold
assays with values varying from non detectable to 25 grams per tonne.
Hand-trenching in 2004-2005 and excavator trenching of altered outcrop
and soil anomalies in 2006 resulted in the discovery of altered zones
within the volcanic units carrying gold values in disseminated sulphide
mineralization. The trenching confirmed earlier grab sample assays and
resulted in the extension of known mineralized zones. Mineralization
grading from anomalous (a few hundred ppb) in the sheared, mineralized
units to 6.39 g/t over 2.4m in boudinaged, interflow iron formation was
located. Assays were generally in the hundred ppb to one to two grams
per tonne gold over widths from one to two metres maximum.
The drill program is designed to evaluate the mineralized zones
utilizing short holes to test the down dip/plunge extent of
mineralization. A number of longer, 250m holes, will test the
possibility of structurally repeated intervals at greater depth in the
main area of the grid on the Turpin Zone. Gold is associated with fine
to very fine disseminated pyrite mineralization (up to 15%) in sheared
and altered, chloritized, sericitized and silicified volcanic units.
The host rocks are mafic volcanics, gabbros and volcaniclastic
sediments of the Burin Ultramafic Belt, which have been sheared and
altered over an area of approximately 200m across strike and 300-400m
along strike. The mineralized zones are boudinaged, dip steeply to the
northwest and appear to plunge to the southwest, possibly controlled by
strong isoclinal folding. No drilling has been carried out in this area
prior to the Silver Spruce work.
Mineralized intervals will be sawed and one half of the sample shipped
to Eastern Analytical Laboratories, in Springdale, NL for analysis for
gold by fire assay, using a one assay tonne sample and 30 element ICP
analyses. The other half of the sample will be retained for further
study. Results will be reported as received.
This release has been approved by Peter Dimmell, P.Geo., Vice President
of Exploration, who is a Qualified Person (QP) as defined in National
Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration
company primarily focused on uranium in the Central Mineral Belt (CMB)
of Labrador, Canada. With interests in over 8,500 claims totaling more
than 2,100 square kilometres, Silver Spruce is the one of the largest
landholders in one of the world's premier emerging uranium districts. A
large-scale exploration program in the summer of 2006 resulted in the
first uranium discovery in October (Two Time zone) in early stage
follow up of the airborne surveys. With experienced partners and strong
financial backing, Silver Spruce is emerging as a leading uranium
explorer in Labrador.
For Further Information Contact:
Head Office
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@sse-tsx.com
Web: www.silverspruceresouces.com
Investor Relations
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this Release. Silver Spruce seeks safe harbour.
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Copyright (c) 2007 SILVER SPRUCE RESOURCES INC. (SSE) All rights
reserved. For more information visit our website at
http://www.silverspruceresources.com/ or send
mailto:info@silverspruceresources.com
Message sent on Wed May 23, 2007 at 8:38:56 AM Pacific Time
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