Silver Spruce Reports on Diamond Drilling and Geophysical Surveys Pope's Hill REE Project-Trans Labrador Highway, Labrador
March 29 2011 - 9:00AM
Marketwired
Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) -
Highlights
-- Results indicate anomalous REE+Y values over significant widths with
narrow high grade sections
-- No high grade, vein type, material, as located in float and bedrock in
the fall of 2010, was intersected
-- Geophysical compilation shows probable fault systems, parallel to the
drilling direction, crosscutting the mineralized trend
Silver Spruce Resources Inc. is pleased to announce final
results from the first phase diamond drill program in the MP
showing area at the Pope's Hill (PH) REE property. A total of 1120m
in 10 drill holes (PH-11- 1 to 10) tested the MP showing in the
bedrock pit and another close by target on the Trans Labrador
Highway (TLH), approximately 100 km from Goose Bay (see news
release March 3, 2011). The first phase drilling was designed to
test REE+Y mineralized bedrock and float samples from the pit, that
were found in the fall of 2010, VLF-EM anomalies thought to
represent shear systems, and magnetic anomalies which could reflect
the variably magnetic REE+Y mineralization. The drilling tested an
approximate 700m long zone of the known 7 km mineralized trend
which lies within the 100 km strike length of the full Popes Hill
REE/U Trend.
Drill Results
All results have now been received. All drill holes received
some sampling however it was not necessarily continuous and was
guided by radioactivity (Th content), visual identification of
prospective zones and magnetically anomalous areas. Results
indicate anomalous REE+Y values over significant widths, with
narrow high grade intersections in most holes (see attached table
for a summary of results). It is significant that none of the high
grade, vein type, material located in float and bedrock in the pit
and along the highway which gave an average of 5.73% TREE+Y, from
the 31 samples taken over a 7 km strike length (see news release
Oct. 28, 2010) was noted in the drilling. The orientation of these
veins remains unknown. Eight of the holes (PH-11-1 to 6, 8, 9) were
drilled across the geological trend in the MP showing in the pit
area. DDH PH-11-7 tested a bedrock showing and magnetic anomaly
approximately 400m to the west of the MP showing and DDH PH-11-10
was drilled down dip at the eastern end of the MP showing pit to
test the potential for the higher grade veins possibly crosscutting
the lithology. As noted none of the high grade veins were
intersected in the drilling.
Geophysics
The final results for approximately 70 line km of magnetic and
VLF-EM surveys and subsequent compilation and interpretation, on
the original PH property, carried out by Abitibi Geophysics in
December 2010 have also been received. The results show
lithological/alteration trends in a 070 degree direction through
the surveyed area. Abitibi (Berube, 2011) indicates "The MAG/VLF-EM
survey over the Popes Hill property has identified a total of 7
magnetic lows, 12 combined VLF-EM conductors/magnetic highs and 5
stand alone VLF-EM conductors. These VLF-EM and magnetic signatures
suggest the presence of faults and shear zones that maybe available
to REE mineralization" In addition, interpretation of the magnetic
results by Abitibi (Berube, 2011) indicates three obvious
crosscutting, probable fault or shear structures, trending at
approximately 150/330 degrees, one of which passes through the area
of the MP pit where most of the significant REE+Y bearing
mineralization was found. Given these results it is possible that
the REE+Y mineralized veins in the area may be related to these
crosscutting structures and therefore would not have been tested by
the diamond drilling. Snow conditions made it impossible to map the
pit prior to the start of the drilling to define the orientation of
the veins and no follow up has been carried out to evaluate any of
the other geophysical targets or crosscutting structures on the
original property.
The diamond drilling has defined an area of anomalous REE+Y
mineralization hosted in the gneissic units in the Popes Hill area.
Wide zones, up to 140m of greater than 0.1% REE+Y mineralization
has been noted with at least 4 holes giving widths in the 50m
range. Narrow (0.1-0.3m) zones of higher grade REE+Y values in the
1 to 6% range are also found throughout most of the drill holes. In
addition strong Zr values generally greater than 1,000 ppm (0.1%)
were noted over wide intervals associated with the REE
mineralization. The vein type, high grade, REE+Y mineralization
sampled in the prospecting survey in the fall of 2010 was not
intersected in this drilling although it is noted in the MP showing
on surface and in samples derived from the pit, scattered along the
TLH. The geophysical interpretation indicates that cross cutting
faults/shears are noted, with one of these cutting the geological
units in the MP showing area. It is possible that the high grade
mineralization located in the pit and in other locations over the 7
km strike of the original PH trend is trending at 330 degrees
essentially parallel to the drilling direction. It is possible that
the vein mineralization could have been remobilized from the
surrounding anomalous REE bearing units and then concentrated along
the crosscutting shears/faults. This possibility will be tested by
exploration planned for the spring/summer of 2011.
Planned work
Regional exploration including airborne radiometrics, magnetics
and VLF-EM will evaluate the PH belt for REEs and U in the summer
of 2011. Detailed exploration including gridding, prospecting,
geological mapping, geochemistry and ground geophysics will begin
on the original PH group and the MRT property as soon as snow
conditions permit most likely in May.
The Pope's Hill REE/U trend, where SSE has interests in over
2,200 claims, 1,700 of which are 100% owned, extends over a 100 km
strike length, and covers government La/Ce lake sediments which
indicate an anomalous REE trend and where no REE/U exploration has
been carried out. Uranium potential is also shown, at least in the
eastern portion of the belt, where the recently optioned MRT
property gave U values up to 0.8% (News Release Feb. 17/11).
Drill core was cut in half using a diamond core saw, with one
half sent for analysis and the other half retained. Samples were
submitted to the Activation Prep laboratory in Goose Bay where they
are prepped and then sent to their laboratory in Ancaster, ON for
analysis using a Code 8 REE package which uses a lithium borate
fusion and then analysis by either ICP or ICP-MS. Values were
checked by Actlabs using internal standards.
A diamond drill plan map, a summary of the drill holes , the
geophysical compilation map and other information on the Pope's
Hill REE Project and our other REE projects can be found on the
Silver Spruce 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 4,000 claims totaling
more than 1,000 square kilometers in Labrador, Silver Spruce is one
of the largest landholders in one of the world's premier emerging
uranium and REE districts. The company also has rare earth element
(REE) properties in Labrador - Pope's Hill, RWM and the Straits and
gold/silver projects - Big Easy and Rambler S, on the island of
Newfoundland.
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.
The Corporation seeks Safe Harbour.
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POPES HILL PROPERTY
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Significant REE+Y values - 2011 DDH
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DDH NO. FROM TO TOTAL (m) TREE+Y %
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PH-11-01 56.6 67.6 11.0 0.26
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incl. 62.2 62.3 0.1 2.94
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incl. 66 66.1 0.1 4.79
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and 90.6 103.4 12.8 0.20
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incl. 92.1 93.6 1.5 0.76
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PH-11-02 24 35.8 11.8 0.2
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incl. 24 24.2 0.2 1.39
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incl. 30.6 32.6 2 0.43
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and 103 113.2 10.2 0.16
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incl. 104.1 104.2 0.1 3.57
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incl. 109.4 109.5 0.1 2.44
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and 125 131 6 0.15
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PH-11-03 2.4 59.5 57.1 0.15
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incl. 2.4 16.3 13.9 0.22
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incl. 7 36.5 29.5 0.2
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incl. 12.5 13.5 1 0.99
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incl. 15.9 16.3 0.4 1.69
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incl. 15.9 22 6.1 0.39
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incl. 21.8 22 0.2 2.72
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PH-11-04 22 29.3 7.3 0.24
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incl. 25.6 29.3 3.7 0.36
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incl. 25.6 25.7 0.1 3.74
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and 65.8 68.4 2.6 0.74
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incl. 66.5 68.4 1.9 0.98
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incl. 66.5 67 0.5 2.6
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incl. 66.7 66.8 0.1 10.56
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and 53.8 65.8 12 0.18
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PH-11-05 8.3 55.7 47.4 0.16
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incl. 8.3 8.5 0.2 5.26
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incl. 16.1 16.2 0.1 1.41
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incl. 46.5 46.6 0.1 3.64
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incl. 52.5 52.6 0.1 6.96
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PH-11-06 39 53.8 14.8 0.14
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incl. 42.9 43 0.1 2.34
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PH-11-07 7.5 7.7 0.2 0.56
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PH-11-08 5.0 145.0 140.0 0.11
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incl. 5.0 60.0 55.0 0.15
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incl. 46.5 46.7 0.2 1.22
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and 47.9 48.2 0.3 1.16
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PH-11-09 6.0 58.0 52.0 0.11
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incl. 7.4 7.6 0.2 4.36
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and 48.3 50.7 2.4 0.41
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PH-11-10 39.6 43.2 3.6 0.11
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and 49.5 53.0 3.5 0.21
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and 59.8 77.1 17.3 0.17
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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 - 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: 1.866.68.4743 ext. 243
hugh@ascentacapital.com www.ascentacapital.com
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