|
Ascenta Capital Partners Inc. � Suite 1610, 1066 West
Hastings Street � Vancouver � BC V6E 3X1 � Canada
(TSXV:
SSE) is pleased to announce that the ground geophysical surveys on the
100% owned Popes Hill (PH) REE property located on the Trans Labrador Highway
(TLH) in south central Labrador, has been completed. The 73 line km
geophysical survey, which consisted of magnetics,
VLF-EM and radiometrics
was carried out under contract by Abitibi Geophysics of St Johns, Newfoundland. The surveys were focused on
the original 62 claim block, which covers a 5 kilometer long trend of rare
earth mineralization located in bedrock and angular boulders along and just
to the north of the TLH. The surveys included GPS controlled magnetics, with readings taken every 2 seconds, VLF-EM
with readings at 12.5 meter spacing and radiometrics,
also at 12.5 meter spacing, over selected areas, covering some of magnetic
and electromagnetic anomalies located. The rare earth mineralization is
variably non magnetic to magnetic and is associated with thorium/uranium
making the samples radioactive and therefore responsive to radiometric
surveys. The REE mineralization may also be shear hosted and the shear
systems may respond to the VLF-EM survey.
Preliminary plots of the magnetics and
VLF-EM show a number of linear magnetic anomalies, both positive and
negative, crossing the property in an ENE direction. A number of the
VLF-EM anomalies are coincident with, or marginal to, the magnetic highs with
others in the magnetic low areas. A VLF-EM anomaly, between magnetic
high zones, possibly indicating a shear system, occurs coincident with the
anomalous REE samples in the bedrock aggregate pit on the side of the TLH and
extends along strike to the east and west. All geophysical data
will be compiled over the holiday period and the final results will be
released early in the New Year. Once the geophysical targets are
defined, an application for a diamond drill program, to be carried out early
in the New Year, will be submitted to the Newfoundland government.
The original PH 62 claim property (1,550 ha) is located in the Pope's
Hill area, approximately 100 km from Goose Bay along the paved portion of the
TLH. The claims were acquired to cover thorium and REE mineralization
located in 2006 during uranium exploration when values of up to 7.9% total
rare earth elements plus yttrium (TREE+Y) were located (see news release
dated May 6, 2010). Thirty-one samples were taken in follow up exploration
in October (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 a bedrock aggregate pit on the
TLH. The highest REE values are in a dark grey to black sub-metallic
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.
Rock units on the claims are mapped as granitic to mafic
gneisses of late Paleoproterozoic age, with some pegmatites. Linear monzonite
bodies, possibly related to a major structure, lie just to the north and
south, along strike, of the mineralized area. Syenites
and/or granitic units of peralkaline affinity have
been noted.
Work has also begun, in co-operation with Dr. John Hanchar,
P.Geo.,
Professor and Head of the Earth Sciences Department of Memorial University of
Newfoundland, who is an expert in the study of REEs, and on the
identification and characterization of the minerals carrying the REEs.
These studies will continue over the winter months with results
released periodically as data are generated.
Compilation maps showing the property locations, plus a compilation
map and pictures of the Pope's Hill area can be viewed on the company website
www.silverspruceresources.com.
A total of 1,297 claims (324 km2), extending 40 km northeast and 40 km
southwest of the original showings, were acquired by SSE in late October
(news release Oct. 28, 2010) to protect the on-strike extensions of the
mineralized zone and strongly anomalous lake sediment values in La and Ce with values up to 690 ppm
against a background of 30 ppm. The SSE 100%
owned property, with the original 62 claim property included,
now totals 1,359 claims (approx. 340 km2).
Analyses on the Pope's Hill rock samples in 2006 were carried out at
the ACME Laboratories facility in Vancouver, BC after sample preparation at
Eastern Analytical in Springdale, NL. They were analyzed by a REE
package (Group 4B REE), which consists of a 0.2 g sample treated by a LiBO2
fusion followed by an ICPMS finish. All 2010 rock analyses are
done at the Activation Laboratories (Actlabs)
facility in Ancaster, Ontario after sample
preparation at their facility in Goose Bay. The analysis is by their
Code 8 REE package which uses a lithium borate fusion and then analysis by
either ICP or ICP-MS. Values were checked by Actlabs
using internal standards.
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 7,500 claims totaling more than 1,750
square kilometers in Labrador, Silver Spruce is the second largest landholder
in one of the world's premier emerging uranium districts. The company
also has rare earth element (REE) properties in Labrador - Popes Hill, RWM
and the Straits and gold/silver projects in Mexico and the island of
Newfoundland making Silver Spruce a leading explorer in Canada and Mexico.
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.
|