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Re: News - Thursday, August 23, 2007
Silver Spruce Announces Results of Lake Sediment and Prospecting
Surveys -- Straits Property
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August 23, 2007 - Bridgewater, N.S. - Silver Spruce Resources Inc.
(TSXV: SSE) is pleased to announce that it has received the results for
lake sediment and prospecting surveys carried out on the Straits
Property, located in southern Labrador, to the north of the Straits of
Belle Isle.
A total of 219 lake sediment samples were acquired covering the entire
claim group, including the 1,320 new claims announced in the news
release of June 14, 2007. The mean value for the lake sediments is 28
ppm U, with the highest value, 639 ppm, located in the northeastern
part of the group. Excellent correlation is shown with the more widely
spaced government lake sediment values which prompted the original
acquisition of the property.
Three anomalous areas are defined. The strongest, with values from 42
to 266 ppm U and a number > 100 ppm, is located in the central portion
of the claim group, developed along a northeast trending structure with
offsetting northwest trending structures, over a seven kilometre strike
length. A total of 16 rock samples were taken from this area with nine
giving values > 100 ppm. Two of the samples had values > 0.1% U3O8 and
a high value of 0.16% U3O8 . The WD showing is located within this
anomaly. It is a cluster of large boulders of orthogneiss / paragneiss
showing strong uranophane staining within a 600m to 800m long
radiometric anomaly which gave values from 92 to 1,391 ppm (0.14%, 2.8
lbs/ton) U3O8, with three of four samples > 400 ppm.
A northeast trending zone in the northeastern part of the group gives
values from 15.5 to 639 ppm U. This area includes the Henley Harbour
area where an 800m to 1,100m radiometric anomaly gave values of 439 ppm
and 384 ppm U3O8 from two rock samples. Host rocks are aplites, mafic
intrusives (gabbros), gneisses and pegmatites.
In the western portion of the group, a linear, north-south trending
zone gives values from 10.6 to 125 ppm. The LP showing, a large,
irregular, pegmatite dike system which can be traced for a few hundred
metres and which gives erratic values (10 samples), varying from 38 ppm
to 2,650 ppm (0.26%, 5.2 lbs/ton) U3O8, with 6 samples > 100 ppm and
two > 0.2% U3O8 is located in the northern portion of this area.
Prospecting (78 rock samples) was carried out on the original 896 claim
(22,400 ha or 224 km2) block in follow up of the airborne survey
carried out in 2006 on 21 airborne radiometric targets. The targets
were selected on the basis of the 95th percentile of U/Th ratios (U
minimum 14 ppm). Three areas of mineralization were defined giving 36
values greater than 100 ppm (0.01%) U3O8 including nine values > 500
ppm (0.05% or 1 lb/ton) and four values > 0.1% (2 lbs/ton), with a high
value of 0.26% U3O8. Uranium / thorium ratios were good (minimum of 3
to 1) in most areas although some areas of high thorium values, with
low U/Th ratios were located.
The rock and lake sediment samples were analysed at Actlabs in Ancaster
ON, for U by delayed neutron counting (DNC) and an ICP technique for
other elements including Th. This technique was the same technique used
for the government lake sediment surveys which led to the staking of
the properties. Results for the ICP for the lake sediments remain
pending.
Lloyd Hillier, President and CEO of Silver Spruce comments "We continue
to be impressed with the results of our surveys which indicate that
significant, previously untested, uranium potential exists in this part
of Labrador. We look forward to continued follow up and the delineation
of a uranium resources."
Maps showing a plan map of the lake sediment and rock sample results,
and a plan map for airborne targets are available on the company
website at www.silverspruceresources.com.
This release has been approved by Peter Dimmell, P.Geo., Vice President
of Exploration, who is a Qualified Person (QP) as defined in National
Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration
company primarily focused on uranium in the Central Mineral Belt (CMB)
and other areas of potential in Labrador, Canada. With interests in
over 12,500 claims totaling approximately 3,100 square kilometres,
Silver Spruce is one of the largest landholder in one of the world's
premier emerging uranium districts. The large ground position,
experienced partners, and strong financial backing, make Silver Spruce
a leading uranium explorer.
For Further Information Contact:
SILVER SPRUCE RESOURCES HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com
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Copyright (c) 2007 SILVER SPRUCE RESOURCES INC. (SSE) All rights
reserved. For more information visit our website at
http://www.silverspruceresources.com/ or send
mailto:info@silverspruceresources.com
Message sent on Wed Aug 22, 2007 at 3:40:52 PM Pacific Time
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