Update on Drilling - Mount Benedict Property,
Central Mineral Belt, Labrador
Highlights
- Uranium mineralization intersected in the T-649 showing;
values to 207 ppm U308 over 8 meters
- Drilling starts at the Super 7 showing, where values up to 1% U308
were located in bedrock
June
17, 2008 - Bridgewater, NS / Vancouver, BC - Silver Spruce Resources Inc.
(TSXV: SSE) is pleased to announce that the Phase 1 drilling at the T-649
Zone, located on the Mount Benedict property has defined a zone of low
grade uranium mineralization. The Mount Benedict Property is located
approximately 50 kilometers south of the community of Makkovik, at the
eastern end of the Central Mineral Belt in Labrador.
The drilling, which was carried out this past winter, consisted of
1,262.9 meters in nine drill holes. It was targeted on the T-649 Zone,
which was located on a small brook flowing into Stag Bay in the summer of
2007, by prospecting using scintillometers. The 10 meter wide zone, where
scintillometer readings were off scale (>10,000 cps) over the entire
zone, gave an average of 0.5% (10 lbs/ton) U308
from five bedrock grab samples, with boulders in the brook downstream of
the showing giving grab sample values over 3% (60 lbs/ton) U308
. A requirement under the Nunatsiavut mineral exploration
regulations to maintain a buffer of at least 50 meters from the brook
meant that no channel sampling could be carried out and that the drilling
had to be targeted at various angles to try to test the zone, which had
an unknown strike direction.
Results have been received for all nine drill holes (MBAT-08-1 to 9).
Uranium mineralization is located along the contact between a monzonitic
unit of the Mount Benedict Intrusive Suite and orthodioritic units of the
Tran Labrador Granitoid Belt. The host is a sheared to mylonitic,
brecciated and fractured, felsic intrusive, a monzonite to monzodiorite,
which carries extensive chlorite and carbonate alteration plus magnetite
and hematite with minor pyrite. The zone varies from four to 16 meters in
width giving U308 values of up to 598 ppm (1.2
lbs/ton) over one meter. The highest grade intersection, 4.3 meters of
0.025% (0.5 lbs/ton) U308 was located in DDH
MBAT-08-2, from 50.6 to 54.9 meters, which tested the zone at a vertical
depth of 40 meters. The widest zone of mineralization was found in
MBAT-08-6, which gave eight meters of 0.021% (0.41 lbs/ton) U308
from 88 to 96 meters. Drill holes MBAT-08-3 and 8 intersected the
contact zone giving only anomalous values. Drill holes MBAT-08-1, 5 and 9
were drilled to the south and/or below the mineralized horizon and did
not intersect any mineralization. Drilling has tested the zone, which
appears to be shallow dipping to the southeast, along a strike length of
150 meters and to a vertical depth of 75 meters. Drill intersections are
approximately 80% to 90% of the true width. The zone remains open along
strike and to depth.
Mineralized intervals are
summarized in the table following:
Summary Drill Results - AT649 Zone - Mount Benedict
Property- Labrador
|
Hole Number ID
|
From (m)
|
To (m)
|
Length (m)
|
U3O8 (ppm)
|
Description
|
MBAT-08-02
|
50.6
|
54.9
|
4.3
|
253
|
Contact zone hosted brecciated to mylonitic
intrusive w/ uranophane, pyrite, magnetite, specular hematite
|
MBAT-08-04
|
51.0
|
58.0
|
7.0
|
97
|
"
|
MBAT-08-06
|
88.0
|
96.0
|
8.0
|
207
|
"
|
MBAT-08-06
|
103.0
|
105.0
|
2.0
|
104
|
"
|
MBAT-08-07
|
84.0
|
94.0
|
10.0
|
82
|
"
|
Lloyd Hillier, President and CEO of Silver Spruce
states, "Although the drill results are lower than expected, we have
located a new uranium mineralized system and this supports the potential
for a major uranium deposit on the Mount Benedict property. Attention
will be focused on completing ground prospecting, geological,
geochemical, geophysical and radon gas surveys along all intrusive
contacts including the one hosting the T-649 showing, to identify drill
targets. The property has not had any modern exploration and the
potential for high grade mineralization is apparent from the limited
surface sampling at the T-649 Showing."
Drilling on the Super 7 showing, located 4.8 kilometers to the south-west
of the T-649, is planned to start immediately. This drilling will test
high grade uranium mineralization in bedrock, with associated radiometric
anomalies, discovered during prospecting in the summer of 2007, with
values over 1.0% (20 lbs/ton) U308. All permits are
in place and the drill is on site.
Results for the 2007 prospecting surveys and maps showing the drilling on
the T-649 plus the planned drilling on both the T-649 and the Super 7 are
on the company's website: (www.silverspruceresources.com).
ABOUT THE MOUNT BENEDICT PROPERTY
The Mount Benedict Property is a large contiguous block of 4,057 claims
(1,014 square kilometers), located 30 to 70 kilometers southeast of
Makkovik. The property covers, in part (10% to 15%), Labrador Inuit Lands
(LIL), which are controlled by the Nunatsiavut government. The remaining
85% of the property in on Labrador Inuit Settlement Area (LISA) lands,
which are jointly controlled by the Nunatsiavut and Newfoundland
governments. The Mount Benedict claims are 100% owned by Silver Spruce,
subject to a 1.0% NSR on production from 532 of the original 1,024
claims.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company focused on uranium in the
Central Mineral Belt (CMB) of Labrador, Canada and gold/silver in Mexico.
With interests in more than 11,000 claims totaling more then 2,500 square
kilometers in Labrador, Silver Spruce is the second largest landholder in
one of the world's premier emerging uranium districts. The exposure to
gold/silver opportunities in Mexico and base metals in central
Newfoundland and Labrador gives the corporation diversification without
losing its uranium focus. Strong financial backing makes 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:
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responsibility for the adequacy or accuracy of this release.
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