Silver Spruce Updates Results on Big Easy Epithermal Au/Ag Zone
(firmenpresse) - BRIDGEWATER, NOVA SCOTIA -- (Marketwired) -- 08/13/13 -- Editors Note: There are 2 photos associated with this release.
Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) is pleased to update results of ongoing exploration on the Big Easy, epithermal, low sulphidation gold/silver zone in eastern Newfoundland. The Company owns 100% of the Big Easy property, subject to advance royalty payments of $20,000 per year and a 3% NSR on any production, of which 1.5% can be bought for $1.5 M. The Company is looking for a JV partner for the project and/or to access financing for further exploration and development.
Although exploration has been limited due to lack of funds in 2013, some significant developments have happened this summer through field visits generated by interest in the property at both the Cordilleran Roundup in Vancouver in January and the PDAC convention in Toronto in early March, and subsequent re-examination of the drill core. They include:
The results show that the Big Easy zone is a "classic" low sulphidation, epithermal, system and although very old, dated at around 570 Ma, is relatively pristine and undeformed. Significant gold and silver values have been located - values up to 7.9 g/T Au and 130 g/T Ag over 1.2 m in DDH BE-11-12 and 335 g/T Ag and 2.5 g/T Au over 0.25 m in a QA vein in DDH BE-11-7. The boiling textures indicate that we are at or near the required level for bonanza style gold/silver values, typically 3-600 m below the surface (or paleosurface in our case) where the sinter is being formed by the hot springs.
The President and CEO of Silver Spruce, Peter Dimmell, says, "We are continuing to move the Big Easy project forward even in these difficult times as we feel it is a classic low sulphidation epithermal system with 'bonanza grade' possibilities. Our focus continues to be to either raise money for continued exploration if markets improve or get a joint venture for the Big Easy property and we are hopeful that this will happen over the next few months."
Maps and other pictures showing the locations, for the above noted areas and the diamond drilling, are on the Silver Spruce website at .
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 significant, road accessible, low sulphidation, epithermal, gold/silver property in eastern Newfoundland, which has potential for bonanza grades in both gold and silver - the Big Easy, and for the longer term, a portfolio of uranium (Snegamook, A7 (Fishawk Lake), Double Mer, Mount Benedict, CMBJV) and rare earth (Pope's Hill, Pope's Hill JV (w/ Great Western Minerals Group), Straits) projects in Labrador. Information on the company can be found on the Silver Spruce website at .
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. The company seeks Safe Harbour.
To view the images associated with this release, please visit the following links:
Contacts:
Silver Spruce Resources Inc.
Gordon Barnhill
CFO & Director
902.527.5700
902.527.5711 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 13.08.2013 - 11:00 Uhr
Sprache: Deutsch
News-ID 287056
Anzahl Zeichen: 0
contact information:
Town:
BRIDGEWATER, NOVA SCOTIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 199 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Silver Spruce Updates Results on Big Easy Epithermal Au/Ag Zone"
steht unter der journalistisch-redaktionellen Verantwortung von
Silver Spruce Resources Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
