Silver Spruce Reports on Results of REE Analyses for Rock Samples, Straits Property, Labrador
July 06 2010 - 10:27AM
Marketwired
Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) is
pleased to announce the results of re-analysis of rock samples for
Rare Earth (REEs) and associated elements from the 100% owned
Straits (ST) property in southern Labrador. The samples were taken
during the 2007/2008 uranium exploration program and were acquired
for their uranium potential as indicated by scintillometer
readings.
The Straits property, totaling 505 claims (approximately 126
km2), is located along the Straits of Belle Isle between the
communities of Red Bay and Mary's Harbour and to the south of, and
within 20 km of, the Trans Labrador Highway. The original property
was acquired in 2006 under an agreement with a Newfoundland
prospector, Alex Turpin, who retains a 1% NSR. The property was
reduced to those areas which showed the highest uranium potential
in early 2009. Lake and stream sediment and rock samples were
originally analyzed for uranium primarily using an ICP technique
which also gives values for other elements including La (lanthanum)
and Th (thorium). No other REE, Y or other indicator elements were
analyzed in the original ICP data.
Twenty-six rock sample rejects returned from the laboratory
after the first analyses were performed, and which were anomalous
in either La or Th, were analyzed for the full suite of REEs,
yttrium (Y) and other indicator elements such as zirconium (Zr) and
niobium (Nb). The samples gave values up to 2.48% total rare earth
elements (TREE) plus yttrium, 2.2% zirconium, and 636 ppm niobium.
Thirteen samples gave values greater than 0.1% TREE + yttrium,
including five (5) greater than 0.4%. Samples were generally LREEs
with percentages in the 85-90% range of LREEs from the samples
analyzed. The minerals carrying the REEs are unknown at this time.
Most of the high values were located in outcrop in the north
central and north-eastern ends of the property, however, one sample
in the southwestern part gave a value of 0.5 % TREE including
yttrium. A summary of the sample results is given in the table
following. No follow up work has been carried out to date.
In the 2007/08 work, lake sediments gave thirty-three samples
with values greater than 200 ppm La including seven greater than
300 ppm against a background of 65 ppm with the highest value 903
ppm La while Th gave only background values (less than 20 ppm).
Stream sediments gave nineteen (19) values greater than 100 ppm La
including four greater than 200 at 208, 242, 342, and 392 ppm
against a background of approximately 50 ppm. Values for Th are low
with only one sample giving 50 ppm with a background of 20 ppm.
Rock samples gave three values greater than 1,000 ppm La with the
highest 3,908 ppm against a background of less than 30 ppm. Nine
samples gave Th values greater than 1,000 ppm, including four
greater than 2,000 ppm and a high value of 6,810 ppm. Strong
correlation in the rock samples is noted between La and Th with the
four samples that gave the highest La values also giving some of
the highest Th values (see news release dated May 27, 2010).
A geochemical release (OF Lab 1538) by the NL government on June
30, on a high-density lake sediment and water survey in
southeastern Labrador showed anomalous values in rare earth
elements with TREE values in the 400 to 650 ppm range on the
Straits property, some of the highest located in the survey.
Background for this survey is less than 100 ppm TREE, including
Y.
The property covers uranium in lake sediment anomalies
associated with a north-northwest trending fault structure in
Proterozoic, metamorphosed, felsic volcanics, now orthogneiss.
Exploration from 2007 to 2009 included lake, stream sediment and
soil geochemistry, ground scintillometer surveys, prospecting, and
geological mapping. Significant uranium showings were located in
the south central part of the property near the coast. The "BB
shot" showing gives grab sample values up to 67,439 ppm (6.7 %)
U3O8 in outcrop along the contact of a weakly gneissic,
fine-grained granite, and a pegmatite with associated magnetite and
biotite. The "Bingo" showing, approximately 3 km from the BB shot,
and also associated with the contact of the granite and
orthogneiss, gave 17 anomalous values (greater than 10 ppm U3O8)
with a high value of 5,887 ppm (0.59%) U3O8, associated with
uranophane staining. Uranium/thorium ratios averaged 5:1 in samples
giving uranium values greater than 250 ppm. Anomalous values in Th
(to 6,810 ppm), Cu (to 2,720 ppm) and Pb (greater than 5,000 ppm)
were also found with the higher thorium values giving low uranium
values. Since uranium was the target element at the time, the 2008
exploration allowed the company to define areas of higher uranium
potential to allow consolidation and downsizing (reduction) of the
property to the 423 claims (106 km2) now in the property.
All stream sediment, soil and rock analyses were carried out at
the Activation Laboratories (Actlabs) facility in Ancaster, Ontario
after sample preparation at the Actlabs preparation facility in
Goose Bay. In 2007/2008, uranium and other elements, including the
REE (La) and Th, were analyzed by an ICP technique (AR ICP) with
values in excess of 250 ppm uranium reanalyzed by delayed neutron
counting (DNC) for uranium. The recent (2010) results were analyzed
by a rare earth package (Code 8 REE) at Activation Laboratories
using either ICP or MS analysis plus analysis for U3O8 and Nb2O5 by
XRF. A compilation map of the properties and the QA/QC criteria for
the samples can be viewed on the company website at
www.silverspruceresources.com.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company originally focused
on uranium in the Central Mineral Belt (CMB) and elsewhere in
Labrador, Canada. With interests in more than 7,000 claims totaling
more than 1,750 square kilometers in Labrador, Silver Spruce is the
second largest landholder in one of the world's premier emerging
uranium districts. The company also has gold/silver projects in
Mexico and the island of Newfoundland, and has recently acquired a
number of REE projects, close to roads, in Labrador, making Silver
Spruce a leading explorer in Canada and Mexico.
This release has been approved by Peter Dimmell, P.Geo., Vice
President of Exploration, Silver Spruce Resources Inc., who is a
Qualified Person (QP) as defined in National Instrument 43-101.
To view the table accompanying this press release please click
on the following link:
http://media3.marketwire.com/docs/SSE0706.pdf
The company seeks Safe Harbour.
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.
Contacts: Silver Spruce Resources Inc. - Head Office Gordon
Barnhill CFO & Director 902.527.5700 902.527.5711 (FAX)
gbarnhill@silverspruceresources.com www.silverspruceresources.com
Ascenta Capital Partners Inc. Hugh Oswald Investor Relations
604.684.4743 ext. 243 or Toll Free: 1.866.684.4743 ext. 243
hugh@ascentacapital.com www.ascentacapital.com
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