Universal Uranium Ltd. and Silver Spruce Resources Inc.: Completion of Definition Drilling-Two Time Zone
December 18 2007 - 8:45AM
Marketwired
VANCOUVER, BRITISH COLUMBIA and BRIDGEWATER, NOVA SCOTIA and
Silver Spruce Resources Inc. (TSX VENTURE: SSE) are pleased to
announce that the definition drilling program for the resource
calculation at the Two Time zone has been completed. Two drills
completed the program and the camp was shut down for the Christmas
break on December 15. The infill, definition drilling, was carried
out in preparation for a NI 43-101 compliant resource estimate to
be prepared by Scott Wilson Roscoe Postle Associates Inc. (SWRPA)
early in 2008. The 18-hole program, totaling approximately 3,000
meters, was carried out in November and December 2007. Analytical
results for the drilling are pending and will be released as
received in January 2008.
At this time last year, December 2006, the joint venture had
just completed the first drilling on the Two Time zone - holes
CMB-07-1 to 5 - for 812 metres. With the completion of the
definition drilling, the joint venture has now completed a total of
11,190.6 metres of drilling in DDH's 1 to 41. Forty of these holes
(CMB-07-1 to 23 and 25-41), totalling 10,922.6 metres, tested the
Two Time zone and one hole (CMB-07-24) tested a RadonEx soil gas
anomaly to the north of the zone.
Drilling is planned to resume in the second week of January
2008. At that time, one drill will be utilized to evaluate the
extensions of the Two Time Zone to depth and on strike to the north
and south. The second drill will focus on the newly discovered
Firestone Zone (see news release dated October 17, 2007) and other
targets on the CMBNW property.
The Two Time Zone has been traced over a strike length of
approximately 475 metres, from 2+75 N to 2+00 S, and remains open
to the north and south along strike and to depth. The host for the
mineralization is an altered, brecciated and fractured intrusive,
monzodiorite to diorite, with extensive chlorite, carbonate,
hematite and albite alteration. The orientation of the
mineralization appears to be near vertical to steeply dipping.
"We have made great strides in the delineation of the Two Time
uranium zone since its discovery in the fall of 2006," stated Lloyd
Hillier, President and CEO of Silver Spruce. "In 2008, we look
forward to the definition of a NI 43-101 compliant resource at the
Two Time Zone that will establish Silver Spruce and Universal
Uranium as companies with a new significant uranium deposit."
All uranium analyses are performed by Activation Laboratories in
Ancaster, Ontario, an approved, accredited laboratory, using the
delayed neutron activation technique (DNC), which gives accurate
results for samples carrying up to 1.0% uranium. In addition,
samples are analyzed using an ICP technique that gives good results
for most other elements, including Thorium. A quality
assurance/quality control (QA/QC) program, described on the
companies' websites, has been implemented by the Silver
Spruce-Universal Uranium joint venture to increase confidence in
the results generated. Plan maps and sections for the drilling on
the Two Time Zone are also shown on the websites.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium
CMB/Seal Lake joint venture previously announced.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSX VENTURE: UUL) is a publicly held
Canadian uranium exploration company focused on acquiring,
exploring and developing uranium properties located in favorable
geo-political climates. The company is led by a highly skilled,
experienced board and management team with significant successes in
managing early stage mineral exploration companies.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSX VENTURE: SSE) is a junior
exploration company focused on uranium in the Central Mineral Belt
(CMB) of Labrador, Canada. With over 12,500 claims totaling
approximately 3,100 square kilometers in Labrador, Silver Spruce is
the second largest landholder in one of the world's premier
emerging uranium districts. Experienced partners and strong
financial backing, make Silver Spruce a leading uranium explorer in
Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice
President of Exploration, Silver Spruce Resources Inc., a Qualified
Person (QP) as defined in National Instrument 43-101.
The company seeks Safe Harbour.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Universal Uranium Ltd. - Head Office Ron Atlas
President (604) 662-3903 (604) 662-3904 (FAX) Email:
ratlas@universaluranium.com Universal Uranium Ltd. - Investor
Relations Taylor Little Investor Relations (604) 662-3903 ext. 107
Email: tlittle@universaluranium.com Website:
www.universaluranium.com Silver Spruce Resources Inc. - Head Office
Gordon Barnhill CFO & Director (902) 527-5700 (902) 527-5711
(FAX) Email: gbarnhill@silverspruceresources.com Website:
www.silverspruceresources.com Silver Spruce Resources Inc. -
Investor Relations Keir Reynolds Ascenta Capital Partners Inc.
(604) 684-4743 ext.231 or Toll Free: 1-866-684-4743 ext.231 Email:
keir@ascentacapital.com Website: www.ascentacapital.com
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