BEDFORD - Silver Spruce Resources Inc. ('Silver Spruce' or the 'Company') (TSXV: SSE) (FRA: S6Q1) is pleased to announce the discovery of a pristine exploration target with promising Au-Ag assay results from its Phase 1 prospecting and rock sampling program conducted over three weeks on the 1,130-hectare Jackie Au-Ag property ('Jackie' or the 'Property').
'Silver Spruce put the technical boots on the ground and our Hermosillo-based geological team has discovered a high quality, broadly-zoned geochemical anomaly with multiple mineralized surface rock samples ranging up to 9.65 g/t Au and 515 g/t Ag with intense oxide and silicate alteration, and presence of base metals and pathfinder elements,' said Greg Davison, Silver Spruce VP Exploration. 'Jackie had seen very little structured exploration and our first prospecting program successfully identified a previously untouched Au-Ag target ready for systematic sampling. The Phase 2 geological program scheduled for a late May startup will focus on grid sampling and mapping around our discovery and on ASTER targets noted at higher elevations.'
The Company recently signed a Definitive Agreement (Press release November 30, 2020) with Colibri Resource Corp. to acquire 50% interest in Jackie, an early-stage precious metal project located 175 km east of Hermosillo, Sonora, Mexico. The large grassroots property is located in a very productive region only one to two kilometres south from our El Mezquite and Diamante properties and adjacent to the west of Minera Alamos' Santana project.
The Company, with a four-person team (two senior geologists and two samplers) and all necessary logistical support, undertook a Phase 1 exploration program, including prospecting, rock, soil and stream silt/sand sampling, and preliminary geological mapping of areas exhibiting significant alteration or mineralization and collection of structural data. The team focused on identifying and sampling readily accessible areas of interest, confirming areas for future detailed mapping and providing a geochemical baseline map for vectoring toward potential Phase 2 targets.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company also is pursuing exploration of the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
Contact:
Greg Davison
Tel: (250) 521-0444
Email: gdavison@silverspruceresources.com
Notice Regarding Forward-Looking Statements
This news release contains 'forward-looking statements,' Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SILVER SPRUCE RESOURCES INC. 