'We are very excited to acquire a significant package of additional claims tied to both the Marilyn and Till properties which effectively doubles our overall property coverage to 148 square kilometres (14,790 ha). These new claims follow to the south along the principal metasedimentary structural trend and geological contacts on the west margin of the
'We look forward to the next steps comprising program design for detailed infill soil and till sampling around the anomalous sampling sites to advance the known target sites and contracting the detailed interpretation of the 2021/2022 MPX Geophysics MAG/VLF/RAD survey. The latter contract will be awarded by mid-February,' stated
The widely-spaced gold grain in till sampling results identified anomalous sites with >20 gold grains on each of the three original Properties, Marilyn,
A total of twenty-two (22) sites contained elevated calculated ppb Visible Gold and pristine gold particle morphologies (12 samples). Modified gold grains were reported from twenty-five (25) sampling sites including eight (8) accompanied by pristine grains distributed across the Properties. Soil geochemistry also showed 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 (Figures 5 and 6).
The gold grain in till program accompanied by B zone soil geochemical sampling is complete over a total of 129 of the proposed 184 locations. Those sites remaining were deferred due to distance from access trails and swampy ground and will require future helicopter support. As per the autumn 2021 program, the till samples, averaging 12kg in weight of screened -1/4' or -1/2' material, were shipped to
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
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
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.
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About
Contact:
Vice-President Exploration and Director
T: (250) 521-0444
E: gdavison@silverspruceresources.com
CEO
T: (902) 402-0388
E: mkinley@silverspruceresources.com
E: info@silverspruceresources.com
WEB: www.silverspruceresources.com
Neither
Notice Regarding Forward-Looking Statements
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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