Silver
Spruce Begins Drill Program on Pope's Hill REE Project
Trans
Labrador Highway, Labrador
Highlights
- approximately 1,000 m in 15 drill holes planned to
test targets in the MP showing area, TLH
February 8, 2011 - Bridgewater,
NS - Silver Spruce Resources Inc. (TSXV: SSE) is
pleased to announce that the diamond drill program of approximately 1000
m in 15 holes began on Saturday, Feb. 5, on the Pope's Hill REE project,
located on the Trans Labrador Highway (TLH), approximately 100 km from
Goose Bay. The drill program is designed to test REE+Y
mineralization located in a bedrock pit (the MP showing) used for road
construction during the building of the TLH. Targets include
VLF-EM anomalies thought to represent shear systems, magnetic anomalies
which may reflect the variably magnetic REE+Y mineralization and bedrock
and float samples from the pit which were located in the fall of 2010.
Thirty-one samples were taken
over the property in October, 2010 (see news release dated Oct. 28,
2010). All samples gave anomalous TREE+Y values with 16 > 5%,
and 5 > 10% with a high value of 24% TREE+Y. TREE+Y values
varied from a low of 0.07% to a high of 24.07% averaging 5.73% for the 31
samples, which included 7 "host rock" samples, with values <
0.2%. The anomalous trend has been traced over a 7 km strike
length extending to the east, approximately 4 km, and to the west,
approximately 3 km, from the bedrock aggregate
pit (MP showing) on the TLH. The highest REE values are in a dark grey to
black sub-metallic to glassy mineral in veins which are variably
non-magnetic to moderately magnetic. All of the REE bearing samples
are weakly to moderately radioactive with significant thorium content and
minor uranium values generally < 100 ppm.
Extreme cold weather and snow
conditions had slowed progress in the mobilization of the drill and crew
however the drill has been set up and the first hole is underway.
Results will be reported as received most likely in early March
depending upon drilling progress and analytical availability.
The company would also like to
announce that the Senior Geologist of Silver Spruce, Guy Mac Gillivray, P.Geo. has left the company to work as Exploration Manager
for a major gold mining company in the Abitibi greenstone belt of
Ontario. Guy has agreed to stay on as a technical advisor to the
company as a member of the Silver Spruce Advisory Board. The company
would like to acknowledge Guy's dedication and many accomplishments while
working for Silver Spruce and look forward to his continued assistance in
many of the projects that he was instrumental in starting, including
Popes Hill. We wish him well in his new career path.
Information on the Pope's Hill
REE Project and our other REE projects can be found on the Silver Spruce
website at: www.silverspruceresources.com.
ABOUT SILVER SPRUCE
Silver Spruce is a junior
exploration company originally focused on uranium in the Central Mineral
Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than
4,000 claims totaling more than 1,000 square kilometers in Labrador,
Silver Spruce is one of the largest landholders in one of the world's
premier emerging uranium and rare earth element (REE) districts. The
company also has REE properties in Labrador - Pope's Hill, RWM and the
Straits and gold/silver projects on the island of Newfoundland.
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:
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
The
Corporation seeks Safe Harbour.
|