Completion of Definition Drilling - Two Time Zone
Highlights
- Completion of definition drilling for resource calculation - Two
Time Zone
- Continued drilling to depth/along strike on the Two Time Zone in 2008
December
18, 2007 - Bridgewater, NS - Silver
Spruce Resources Inc. (TSXV: SSE) and Universal Uranium Ltd. (TSXV: UUL)
are pleased to announce that the definition drilling program for the
resource calculation at the Two Time Zone has been completed. Two drills
completed the program and the camp was shut down for the Christmas break
on December 15. The infill, definition drilling, was carried out in
preparation for a NI 43-101 compliant resource estimate to be prepared by
Scott Wilson Roscoe Postle Associates Inc. (SWRPA)
early in 2008. The 18-hole program, totaling
approximately 3,000
meters, was carried out in November and December
2007. Analytical results for the drilling are pending and will be
released as received in January 2008.
At this time last year, December 2006, the joint venture had just
completed the first drilling on the Two Time Zone -- holes CMB-07-1 to 5
-- for 812 metres.
With the completion of the definition drilling, the joint venture has now
completed a total of 11,190.6 metres of drilling in DDHs 1 to 41. Forty of these holes (CMB-07-1 to 23
and 25-41), totaling 10,922.6 metres,
tested the Two Time Zone and one hole (CMB-07-24) tested a RadonEx soil gas anomaly to the north of the zone.
Drilling is planned to resume in the second week of January 2008. At that
time, one drill will be utilized to evaluate the extensions of the Two
Time Zone to depth and on strike to the north and south. The second drill
will focus on the newly discovered Firestone Zone (see news release dated
October 17, 2007) and other targets on the CMBNW property.
The Two Time Zone has been traced over a strike length of approximately 475 metres, from
2+75 N to 2+00 S, and remains open to the north and south along strike
and to depth. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite,
carbonate, hematite and albite
alteration. The orientation of the mineralization appears to be near
vertical to steeply dipping.
"We have made great strides in the delineation of the Two Time
uranium zone since its discovery in the fall of 2006," stated Lloyd
Hillier, President and CEO of Silver Spruce. "In 2008, we look
forward to the definition of a NI 43-101 compliant resource at the Two
Time Zone that will establish Silver Spruce and Universal Uranium as
companies with a significant new uranium deposit."
All uranium analyses are performed by Activation Laboratories in Ancaster,
Ontario, an approved,
accredited laboratory, using the delayed neutron activation technique
(DNC), which gives accurate results for samples carrying up to 1.0%
uranium. In addition, samples are analyzed using an ICP technique that
gives good results for most other elements, including Thorium. A quality
assurance/quality control (QA/QC) program, described on the companies'
websites, has been implemented by the Silver Spruce-Universal Uranium
joint venture to increase confidence in the results generated. Plan maps
and sections for the drilling on the Two Time Zone are also shown on the
websites.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium CMB/Seal
Lake joint venture previously announced.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company
focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada.
With over 12,500 claims totaling approximately
3,100 square kilometers in Labrador,
Silver Spruce is the second largest landholder in one of the world's
premier emerging uranium districts. Experienced partners and strong
financial backing, make Silver Spruce a leading uranium explorer in Canada.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSXV: UUL) is a publicly held Canadian uranium
exploration company focused on acquiring, exploring and developing
uranium properties located in favorable
geo-political climates. The company is led by a highly skilled,
experienced board and management team with significant successes in
managing early stage mineral exploration companies.
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 more information on the Company and its projects, please refer to the
website, www.silverspruceresources.com.