|
Second Drill Mobilized to the Two Time Zone for Resource Calculation
Highlights
- Second drill now on site to assist with the resource
definition at the Two Time Zone
- Trenching / sampling completed on surface expression
of Two Time Zone
November 14,
2007 - Bridgewater, NS/Vancouver, BC - Silver Spruce Resources Inc. (TSXV: SSE) and
Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that a second
drill has been mobilized by contractor Lantech Drilling to assist with
the resource definition drilling at the Two Time Zone. The two drills are
carrying out infill drilling in preparation for a 43-101 compliant
resource estimate to be prepared by Scott Wilson Roscoe Postle Associates
Inc. (SWRPA) early in 2008. An 18-hole drill program, totaling 2,800
meters, is planned for completion by December 15, 2007.
Drilling will resume the second week of January 2008. At that time, one
drill will be primarily 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.
Trenching and sampling of the surface expression of the Two Time Zone, as
recommended by SWRPA, was completed prior to the onset of winter conditions.
A total of five trenches, varying in length from 30 to 71 meters, tested
the zone over a surface strike length of 200 meters on the northern
portion of the zone; thick overburden prevented trenching over the
southern half of the zone. All trenches intersected wide sections of
brecciated monzodiorite carrying radioactivity related to uranium
mineralization that was similar in strength to drill holes from the area.
A total of 127, one-meter channel samples were sawed from exposed bedrock
and sent for analyses. Results are pending.
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.
All other field work on the CMB properties has stopped due to winter
weather conditions and will resume in the spring. Results of many of the
rock and soil samples remain pending and will be reported as they are
received.
“We continue to be impressed with the strength of the Two Time
uranium zone,” stated Lloyd Hillier, President and CEO of Silver
Spruce. “We look forward to the definition of a resource at the Two
Time Zone that will establish Silver Spruce and Universal Uranium as
companies with significant uranium resources. We intend to drill through
the winter taking advantage of skidoos for access, which should keep our
drilling costs down”.
Rock, core and soil sample analyses are being performed by Activation
Laboratories in Ancaster, Ontario, an approved, accredited laboratory.
Activation will use the delayed neutron activation technique (DNC), which
gives accurate results for samples carrying up to 1.0% uranium and an ICP
technique that gives good results for most of the other elements,
including Thorium. A quality assurance/quality control (QA/QC) program
has been implemented by the Silver Spruce-Universal Uranium joint venture
to increase confidence in the results generated. The QA/QC program is
described on the companies’ websites together with plan maps and
sections for the drilling on the Two Time Zone.
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., 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.
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.
|