SSE Silver Spruce Resources Inc

Silver Spruce Resources Inc. (TSX VENTURE:SSE)

Highlights



--  Banded quartz-adularia/ chalcedony veins, typical of epithermal hot
    spring systems, up to 1 m wide were noted 
--  821 core samples of alteration / veining, totalling 859.8m, were taken;
    results are pending 
--  1,080 m in 5 holes tested the extensive altered/ mineralized zone over a
    200 m strike length



Silver Spruce Resources Inc. (TSX VENTURE:SSE) is pleased to announce the Phase
Two drilling program on the road-accessible, Big Easy gold/silver mineralized
alteration zone in eastern Newfoundland, concluded on July 11 with a total of
1080 m in five drill holes completed. The drilling tested epithermal-style
mineralization over a 200 m strike length associated with an altered
(silicified) zone that covers an area of approximately 1.7 km by up to 300 m
wide. A total of 821 samples totalling 859.8 m of altered / mineralized drill
core were sampled and sent for analysis, with all samples now in the laboratory.
Results are pending and will be released as they become available and can be put
into context in the overall system.


Extensive banded quartz-adularia veins and areas of chalcedonic (opaline) quartz
up to 1 m wide, but generally from 1 to 30 cm wide, as well as areas of
brecciation with associated veining and silicification, were noted in the core.
Orientations of the veins varied, but were generally better than the 2011
drilling, where almost all the veins ran along the core axis indicating possible
down-dip drilling. Orientations of the veins in 2012, with the drill holes
drilled 270 degrees (to the west) instead of 90 degrees (to the east) as in
2011, varied from 20 to 90 degrees to the core axis, averaging 40 to 50 degrees.
Adularia (potassium feldspar), sinter (hot spring silica deposits) and boiling
textures were again noted in the 2012 drill core, indicating that the zone lies
near the paleosurface where higher grade, "bonanza style" gold/silver veins
could be found. 


The Phase Two, follow-up drilling program was based on the results of our 2011
drilling, a detailed structural interpretation of the mineralized zones by a
consultant from Caracle Creek International Consulting, and a clearer
understanding of the extensive epithermal system through the support of academic
(Memorial University) and provincial government (Department of Natural
Resources) studies. It was targeted to test the area of the wide Au/Ag
intersection in DDH BE-11-3.


The 2012 drill program followed a seven drill hole, 1577 m, Phase One program in
2011, the first drilling that ever tested the area. All 2011 drill holes
intersected gold/silver mineralization over a 1.2 km strike length (news
releases dated May 31 and June 7, 2011). The best intersection, in BE-11-3 gave
0.87 g/t gold (Au), 33.5 g/T silver (Ag) / 30.5 m (228 to 258.5 m), including
6.05 g/t Au, 174 g/T Ag / 1.5 m (240.5 to 242 m) and 6.04 g/T Au, 114 g/T Ag / 1
m (245 to 246 m); and a banded, "bonanza style" 0.3 m vein in BE-11-7, the
northernmost drill hole, which gave 335 g/T (greater than 10 oz/T) Ag and 2.57
g/T Au (231.3 to 231.6 m). Drill hole BE-11-7 is located approximately 700 m to
the north of the area drilled in 2012 indicating the significant strike
potential of the zone.


Prospective, altered/mineralized drill core has been sawed in half, with one
half delivered to the Accurassay Preparation Laboratory in Gambo, NL, where it
was prepped and then sent to their laboratory in Thunder Bay, ON for analysis
for Au by fire assay (ALFA1 - 30 g sample) and an ICP technique (ICPAR) for
other elements, including Ag. Duplicates are taken every tenth sample for
quality assurance.


The 121 claim (30 km2) original property, located near Thorburn Lake in eastern
Newfoundland, was optioned from prospectors Alex Turpin and Colin Kendall. The
agreement, to earn 100% interest subject to a 3% NSR with a 1.5% buyback for
$1.5 M, is for a total of $110,000 plus 1.6 M shares over three years. A yearly
advance royalty payment of $20,000 per year, deducted from future NSR payments,
is payable from the 4th anniversary on. Another 173 claims were added in 2011
after discovery of the ET zone, 3.5 km to the south, to bring the property to
294 claims (73.5 km2).


Plan maps and a summary of the drilling; compilation maps of the property; and
pictures showing the drilling and other exploration activities, are shown on the
Silver Spruce website at www.silverspruceresources.com. 


This release has been approved by Peter M. Dimmell, P.Geo., President & CEO of
Silver Spruce Resources Inc., who is a Qualified Person (QP) in NL and ON as
defined in National Instrument 43-101.


About Silver Spruce Resources Inc. 

Silver Spruce is a diversified junior exploration company with a portfolio of
gold/silver (Big Easy), rare earth (Pope's Hill, Pope's Hill JV (with Great
Western Minerals Group), MRT, RWM and the Straits) and uranium (CMBJV,
Snegamook, Double Mer, Mount Benedict) projects in Newfoundland and Labrador.
With interests in more than 4,000 claims totalling more than 1,000 square
kilometres in Labrador, Silver Spruce is one of the largest landholders in one
of the world's premier emerging rare earth and uranium districts. 


For additional information, please visit the company's website -
www.silverspruceresources.com.

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