'The till sampling of the new claims identified our best gold grain frequency data so far with a maximum of thirty-nine grains in GR-37 in the southern part of the claims and other significant results spread from north to south throughout the Marilyn claims', said
'The sample locations locally cluster and/or exhibit southerly trains which occur proximal to northeasterly airborne geophysical linears in the
The 2023 gold grain in till program accompanied by B zone soil geochemical sampling is complete over a total of sixty-six (66) additional locations on the newly staked Marilyn block. Those sites remaining were deferred due to distance from access trails and swampy ground and will require future helicopter support.
As per the previous Company programs, the till samples, averaging 12kg in weight of screened -1/4' or -1/2' material, were shipped to
All but four of the samples (62) contained gold grains though only fifteen samples showed >10 grains and 3 >20 grains to a maximum of 39 grains. A total of twenty-six (26) sites contained elevated calculated ppb Visible Gold (9) and pristine gold particle morphologies (20 samples); three exhibited both. Modified gold grains were reported from forty-seven (47) sampling sites.
Within the first group of Phase 1 sampling, a total of the 94 till samples were collected, 175 gold grains were found in the samples with high gold grain counts of 21, 10, 9 & 8, only one of those grains was considered pristine, 8 were modified and 166 were reshaped. Eighty-seven samples had nil to 5 gold grains. Within the second campaign of Phase 1 sampling, a total of 35 till and B-horizon soil samples were collected. A total of 140 gold grains were found in the samples with only 11 barren samples. Of the 140 gold grains, 34 were pristine, 42 were modified and 64 were reshaped. Four samples contained between 10 and 22 gold grains.
Due to the relative increase in gold grain count compared to the number of samples from the initial sampling, several anomalous areas are recommended for follow up prospecting and more detailed sampling.
Soil geochemistry data for gold and two key pathfinder elements from the current survey reported Au to 15ppb, As to 69.8 ppm and Sb to 450 ppb which is comparable to earlier analytical results of Au to 26ppb, As to 101 ppm and Sb to 1,370 ppb. Both sample sets showed similar frequency value distribution. A compilation of the ArcGIS geochemistry mapping is expected shortly.
The earlier survey identified arsenic anomalies in Marilyn transecting from north to south, proximal to the gold grain trend occurring on a southwesterly linear parallel to regional geological and magnetic structure.
Recent map staking of additional claims tied to both the Marilyn and Till properties effectively doubled property coverage to 148 square kilometres (14,790 ha). The new claims occur adjacent to several gold grain and geochemical anomalies reported from the Company's 2021 and 2022 Phase 1 programs.
Project Background
The Company signed a Definitive Agreement in
The 14,790-hectare project is located within the Exploits Subzone, an extensive area of mineral exploration activity and discoveries over the past two years. The Properties are well situated in terms of exploration logistics, located close to each other and 10-45 kilometres south by Bay d'Espoir Highway from
Multiple surface occurrences are reported of agate chalcedony to colloform and crystalline silica veining and multi-phase breccias, carbonate replacement by quartz, and open-space filling quartz and calcite, all textures indicative of the upper zones of epithermal systems and structural conduits in orogenic systems, and are accompanied by gold, arsenopyrite, stibnite, chalcopyrite, bornite and Cu carbonate mineralization in quartz veins, black shale and other sedimentary units, and ultramafic and gabbroic intrusions.
Silver Spruce collected new rock samples and received an independent report on the mineral and rock textures potentially related to shallow epithermal and/or orogenic vein-style mineralization. The Company completed an initial phase of till and soil sampling in late 2021, and an airborne magnetic, VLF-EM and radiometric survey in
The Company's initial reconnaissance sampling (95 sites) was completed before the winter 2021 shutdown and an additional thirty-four of the readily accessible sites were tested during the 2022 field season. The results were summarized herein.
About
Contact:
Tel: (250) 521-0444
Email: gdavison@silverspruceresources.com
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This news release contains 'forward-looking statements,' Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
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