Silver Spruce and Azimut
Identify
Highly Anomalous Lake
Sediments and Radiometric Anomalies
on Hudson Bay Uranium Project
Highlights
- Lake sediment values to 1,950 ppm U3O8
-
Anomalous Uranium radiometric anomalies on all three claim blocks
April 22, 2008 - Bridgewater, NS - Silver Spruce Resources
Inc. (TSXV: SSE) is pleased to announce the results of the 2007
exploration program on the Hudson Bay uranium project located just to the
east of Hudson Bay in northern Quebec. The property is held under an
option agreement with Azimut Exploration (TSXV: AZM) (news release April
4, 2007).
The property covers strong, regional scale, government lake sediment
anomalies in uranium and other geochemical pathfinders, including a peak
value of 750 ppm uranium, located along a major structural boundary
delineating the transition zone between the Minto and Bienville
geological sub-provinces. The area is characterized by Archean intrusive
rocks, as well as mafic and ultramafic units. Uranium values up to 1.31%
U3O8 in a similar geological environment are known approximately 20
kilometers to the south, in an area where exploration is now pre-empted.
The 2007 exploration program consisted of detailed lake sediment surveys
in the summer and airborne radiometric, magnetic and electromagnetic
surveys carried out in the fall. The airborne radiometric results
indicate a total of one Priority 1, eight Priority 2, and 50 Priority 3
targets. Exploration follow up in other areas, such as Labrador, has
shown that even lower priority targets have to be followed up and can
represent uranium mineralization.
The background for uranium in lake sediments in the area is less than 25
ppm. In Area A, a total of 12 samples were considered to be anomalous, in
the range of 54 to 279 ppm uranium, with three greater than 100 ppm.
These were found mostly in the west central and northwest, generally
coincident with the Priority 1 and a series of Priority 2 radiometric anomalies.
In Area B, a total of four samples give anomalous values of greater than
100 ppm, including an isolated value of 1,950 ppm located in the
northeastern portion of the block. In the west-central area of Block B,
weak, Priority 3 airborne radiometric anomalies are noted generally
coincident with lake sediment values up to 365 ppm uranium. In Area C,
the smallest block, where a total of six values greater than 100 ppm were
located, three anomalous values of 161, 107 and 137 ppm uranium are
generally coincident with a series of Priority 2 and 3 radiometric
anomalies along north-west and north-east trends, possibly related to
underlying structures or stratigraphy.
Follow up scintillometer prospecting and geochemistry will take place
starting in mid-June utilizing a helicopter to be based in Umiujaq.
The detailed lake sediment sampling, a total of 293 samples, was carried
out at an interval of approximately one sample per square kilometer under
contract by IOS Services Géoscientifiques Inc. of Saguenay,
Quebec, using a float equipped helicopter to sample most lakes within the
claim blocks. Samples were air dried and
then shipped to Activation Laboratories in Ancaster, Ontario, where they
were analyzed by delayed neutron counting (DNC) and
ICP-MS.
The airborne radiometric, magnetic and electromagnetic survey, totaling
1,489 line-kilometers, was carried out by McPhar Geosurveys, at a line
spacing of 200 meters, in September 2007. The survey was flown at an
average height of 74 meters using a spectrometer with a crystal of 8.4
liters. Ted Urquhart, a geophysical consultant based in Santiago, Chile,
and a director of Silver Spruce, selected the following thresholds for
the prioritization of the anomalies: Priority 1 - uranium with a signal
of 27 counts above the noise envelope; Priority 2 - uranium with a signal
of 21 counts above the noise envelope and Priority 3 - uranium with a
signal of 15 counts above the noise envelope (using +/ -6 counts from a
39 point filter). Anomalies associated with thorium or associated with
extreme height were downgraded or eliminated using the raw uranium values
as a guide.
ABOUT THE HUDSON BAY PROJECT
The
Hudson Bay property consists of 537 claims (253 square kilometers) in
three separate blocks located just to the east of Hudson Bay and 15 to 40
kilometers to the north of Umiujaq village and airport. Silver Spruce can
acquire a 50% interest over a five-year period from Azimut and may
acquire an additional 15% interest upon delivery of a bankable
feasibility study. Azimut retains a 2% yellowcake royalty on any
production from the property.
ABOUT SILVER SPRUCE
Silver Spruce Resources is a junior exploration company focused on
uranium in the Central Mineral Belt (CMB) of Labrador and northern
Quebec, base metals in central Newfoundland, Canada, and gold/silver in
Mexico. With interests in more than 11,880 claims totaling more than
2,970 square kilometres in Labrador, Silver Spruce is the second largest
landholder in one of the world's premier emerging uranium districts. The
company is well funded with approximately $10 million in cash in the
treasury.
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.
For Further Information
Contact:
The TSX Venture Exchange does
not accept responsibility for the adequacy or accuracy of this release.
The company seeks Safe
Harbour.
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