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News - Thursday, July 05, 2007
Silver Spruce Resources Announces Rock Sample Results and
Completion of First Pass Exploration -- Straits Property
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Highlights
- 5 samples with values greater than 500 ppm (0.05% or 1 lb/ton) U3O8
- 3 samples with values greater than 0.1% (2 lbs/ton), high value of
0.26% U3O8
July 5, 2007, Bridgewater, NS - Silver Spruce Resources Inc. (TSXV:
SSE) is pleased to announce that preliminary results from summer field
work has located a number of uranium mineralized areas on the Straits
Property which is located in southern Labrador, to the north of the
Straits of Belle Isle.
Results from the first 44 rock samples submitted have given 19 values
greater than 100 ppm (0.01%) U3O8, including five values > 500 ppm
(0.05% or 1 lb/ton) and 3 values > 0.1%, with a high value of 0.26%
U3O8. This area has never previously been explored for uranium.
The prospecting/geological mapping was carried out on the original 896
claim (22,400 ha or 224 km2) block in follow up to the airborne survey
carried out in 2006 (see news release dated June 14, 2007) by a
helicopter supported field party, based in Mary's Harbour, Labrador.
A
total of 21 moderate strength airborne radiometric targets were
selected for initial follow up. Targets were selected on the basis of
the 95th percentile of U/Th ratios (with U values a minimum of 14 cps).
Three main areas of mineralization have been defined to date. They are:
1) Henley Harbour NE -- an 800-1,100 m radiometric anomaly,
heavily
forested and till covered, which gave one value of 439 ppm U3O8 from
the only sample acquired. Host rocks are aplites, mafic intrusives
(gabbros), gneisses and pegmatites. Soils have been acquired over this
target;
2) WD showing -- a cluster of large boulders of orthogneiss or
paragneiss showing strong uranophane staining within a 600-800 m 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 U3O8;
3) LP showing -- a large, irregular, pegmatite dike which can be traced
for a few hundred metres which gives erratic values from 10 samples,
varying from 38 ppm to 2,650 ppm (0.26%, 5.2 lbs/ton) U3O8, with 6
samples > 100 ppm and 2 > 2,000 ppm.
The samples were analyzed at Actlabs in Ancaster
ON, for U by delayed
neutron counting (DNC) and an ICP technique for other elements. Results
for the ICP remain pending. Samples are also being analyzed for Th and
these results also remain pending.
An additional 40 to 50 rock samples have been submitted to the
laboratory for analysis. Some of the targeted radiometric anomalies
with minimal outcrop have also been soil sampled to test for uranium. A
total of 219 lake sediment samples have been acquired over the entire
claim group, including the 1,320 new claims announced in the news
release of June 14. They have been submitted to the Actlabs preparatory
laboratory in Happy Valley -- Goose Bay and will be analyzed at the
Actlabs laboratory in Ancaster ON. by delayed neutron counting (DNC)
for U and an ICP technique for other elements, the same technique as
for the government surveys which led to the staking of the properties.
Lloyd Hillier, President and CEO of Silver Spruce comments "We are
extremely pleased with these preliminary results which indicate
significant uranium mineralization exists in this part of Labrador and
we look forward to continued follow up once all results have been
received."
The 44 rock sample locations and targeted airborne anomalies are shown
on the company's website at silverspruceresources.com. Further results
for the rock, lake sediments and soils will be reported as they are
received. Follow up, consisting of gridding, soil geochemistry,
prospecting, geological mapping and geophysical surveys will be carried
out on the property once all results have been received.
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 9,800 claims totaling approximately 2,500 square kilometres,
Silver Spruce is the 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 in Labrador.
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
INVESTOR RELATIONS
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. The Company seeks Safe Harbour.
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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 Jul 4, 2007 at 3:58:18 PM Pacific Time
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