Silver Spruce Resources New Flagship Project, Melchett Lake, Boast Historic Sample Grades up to 28.8 g/t Gold, 560 g/t Silver, and 19% Zinc
MomentumPR ‘s client Silver Spruce , is listed on the TSX Venture exchange under the symbol: SSE .
Momentum PR is pleased to have produced an informative and comprehensive report on Silver Spruce, available here – Silver Spruce Corporation Report .
Silver Spruce Highlights
– Silver Spruce has signed a definitive option agreement to acquire 100% of the 2,124-hectare Melchett Lake project located within an historically active region including Copper Lake’s Marshall Lake VMS project, Centerra and Premier Gold’s Hardrock Greenstone Au project and past-producing Anaconda-Dofasco iron mine.
– Surface samples at Melchett Lake yielded up to 28.8 g/t Gold, 560 g/t Silver and 19% Zinc.
– Silver Spruce has signed a definitive option agreement to acquire 100% of the Pino de Plata project, 15 km west from the Coeur Mining’s flagship mine at Palmarejo, Chihuahua, that produced 7.5 million ounces of silver and 122,722 ounces of gold in 2018.
– Surface sampling at Pino de Plata yielded silver grades over 1,100 g/t Ag with highly anomalous grades of lead, zinc and gold.
Silver Spruce Resources (TSXV: SSE) is a prospective junior exploration company based in Nova Scotia, Canada. Company activities include the exploration of two promising sites in Canada and Mexico: Melchett Lake VMS project in northwestern Ontario, and the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua.
Silver Spruce recently optioned 100% of the 2,124-hectare Melchett Lake project . The expansive VMS silver, gold, lead, zinc and copper property is located in northwestern Ontario, within the historically-active Thunder Bay Mining District.
The Canadian company trades on the TSX Venture Exchange under the symbol SSE, with 91 MM shares outstanding. The mining junior’s management team offers many years of expert experience in the areas of exploration, discovery, prospect development and corporate finance. Their international acquisition potential is backed by Spanish and Chinese language expertise in legal and technical matters. The company signed an MOU with China University of Mining & Technology (CUMT) in October, 2019, to engage in joint geological research, field work, and educational studies on Silver Spruce properties.
Momentum PR is pleased to have produced an informative and comprehensive report on Silver Spruce Resources, available here – Silver Spruce Corporation Report
If you would like more information on Silver Spruce ; www.silverspruceresources.com
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- Published in Mining, News Home, Silver Spruce Resources
SILVER SPRUCE TO ISSUE SHARES TO COCULA VENDOR AND LAND OWNERS
Silver Spruce Resources Inc., further to its news release dated Nov. 29, 2019, announcing the termination of the Cocula project, is seeking the approval of the TSX Venture Exchange to an amendment dated Sept. 10, 2019, to the letter of agreement dated July 13, 2019, with ProDeMin SA de CV. Under the terms of the amendment, the company is required to issue 1.7 million common shares at a deemed price of five cents per share, in which 1.5 million common shares are to be issued to ProDeMin and 200,000 common shares are to be issued to the landowners of the Cocula project.
About Silver Spruce Resources Inc.
Silver Spruce is a well-positioned, Canadian junior exploration company pursuing the exploration and development of the Melchett Lake VMS project in Ontario, Canada, and the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua state, Mexico.
- Published in Gold, News Home, Silver Spruce Resources
Silver Spruce Announces Non-Brokered Private Placements
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfurt:S6Q1) (“Silver Spruce” or the “Company”) announces a non-brokered flow-through unit and a non-flow-through unit financing.
The Company is offering to sell up to 8,000,000 flow-through units at $0.05 cents per Unit for total proceeds of up to CDN $400,000. Each flow-through unit will consist of one (1) common share in the capital of Silver Spruce and one share purchase warrant. Each flow-through warrant will entitle the holder to purchase one additional common share of Silver Spruce (a “Warrant Share”) for $0.075 cents at any time prior to the date which is twelve months (1 year) from a particular Closing Date, at which time the Warrants will expire.
The Company is also offering to sell up to 8,000,000 units (the “Units”) in the capital of the Company at a price of $0.05 cents per Unit for total proceeds of up to CDN $400,000. Each unit will consist of one (1) common share in the capital of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Silver Spruce (a “Warrant Share”) for $0.075 cents at any time prior to the date which is twenty-four months (2 years) from a particular Closing Date, at which time the Warrants will expire.
All units acquired pursuant to the private placements, and shares which may be acquired upon the exercise of the warrants, are subject to a four (4) month hold period in accordance with applicable securities legislation.
The net proceeds of the flow-through financing shall be used for exploration programs at Melchett Lake VMS project in Ontario, and the net proceeds of the non-flow-through financing shall be used for general working capital. The Company will pay all reasonable expenses and fees incurred in connection with the Offerings, and Agents will be paid a negotiated cash fee as a percentage of the gross proceeds raised in the Offerings. These financings, respective terms and finder’s fees are subject to TSX Venture Exchange approval.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a well-positioned, Canadian junior exploration company pursuing the exploration and development of the Melchett Lake VMS project in Ontario, Canada, and the Pino de Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua State, Mexico.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
Toll Free: (866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Staking Builds 20km Strike of Melchett Lake VMS-Au Targets
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce the acquisition of additional mineral claims contiguous to its Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, Ontario, Canada (“Property”).
“We are very pleased to acquire the additional property to the east and west covering eleven (11) kilometres of known extensions of the Melchett Lake mineralized horizons. The cost-effective acquisition by staking nearly doubles the size of the Property. The new claims also include high potential VMS and Au targets in a tightly folded metavolcanic structure interpreted from the 2010 regional airborne magnetic survey and 2001 government releases of acquired exploration magnetic and GEOTEM data,” stated Greg Davison, Director of Silver Spruce. “We continue with our interpretation of the recently received multi-element geochemical data, while building our GIS database focusing on the next phase of the ground exploration program and identifying priority drill targets”.
Recent map staking by Silver Spruce has doubled the size of the Property from 2,124 hectares to the current 3,996 hectares and, of principal value to the Company, increased the coverage of the Melchett Lake mineralized horizons to a combined strike length of more than twenty (20) kilometres. The Property was increased by staking 104 single cell (18ha – 400m x 450m) mineral claims and currently consists of 190 single cell mineral claims and two multi-cell mineral claims. The Property lies 110 km north of Geraldton and 60 km north of Nakina at 50°45′ north latitude and 86°59′ west longitude.
The mineralized horizons recently acquired to the east and west exhibit either chargeable, weakly magnetic trends or coincident EM and magnetic responses with the latter related to variable oxide and sulphide content including pyrrhotite and pyrite with base metal sulphides and gold. Only limited and shallow exploration diamond drilling was conducted in both the Key Lake area to the west and Iron Lake area to the east. GIS compilation of the surface geology and prior drilling is in progress and will be reported and posted on the Company website in due course.
The additional claims are subject to the Area of Interest terms in the Definitive Agreement (Silver Spruce Press Release November 26, 2019).
Maps and site photographs, are available on the Silver Spruce website at Melchett Maps and Melchett Photos. A detailed powerpoint presentation of the Melchett Lake Property is available on the website Project Page.
Geology and Mineralization
The Property, located within Melchett Lake greenstone belt of the English River Sub-province of the Archean-age Superior Province, is underlain by a sequence of pyroclastics, tuffs and flows with cherts and Fe-lean to Fe-rich iron formation.
The Melchett Lake belt contains several occurrences of polymetallic Zn- Pb-Cu-Ag-Au VMS mineralization similar to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick and Rouyn-Noranda. Base metal sulphide mineralization consisting of pyrite, pyrrhotite, sphalerite, chalcopyrite and galena occurs within the intermediate to felsic metavolcanic sequences and adjacent chemical metasediments of the Property. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%.
Highlights of the Property geology, alteration and mineralization include multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones, and continuity, increased alteration and anomalous metal values over large intervals with a strong electromagnetic off-hole response.
Silver Spruce reported (Silver Spruce Press Release November 12, 2019) precious and base metal assay data from the first batch of thirteen (13) rock samples collected from the Nakina and Relf Zones. Zinc values range up to 14.7%, lead to 0.96%, copper to 0.52%, silver to 301 g/t, and gold to 0.737 g/t and clearly represent the polymetallic nature of the mineralization from both targets, particularly the Relf Zone. The samples exhibit low alkali content, favourable pathfinder ratios, e.g., Zn/Na, and elevated values of heavy metals, including Te, Bi, Se, Sb, Hg, Cd and In, associated with sphalerite, galena, chalcopyrite and pyrite observed in the rock samples.
All of the metal values reported herein by current and past operators in the Melchett Lake area, were sourced from grab samples which may not be representative of the metal grades, and may be historical in nature.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person (QP) for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines. Mr. Davison explored the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983-84) and Tribute Minerals (1999-2002), respectively.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Terminates Agreement for Cocula Project
Momentum Public Relations
Press Release: November 29, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(FSE:S6Q1) (“Silver Spruce” or the “Company”) has concluded its due diligence and will not negotiate a Definitive Purchase Agreement to acquire the Cocula project (“Cocula”) in Jalisco State, Mexico.
Subject to its binding Letter of Agreement (“LOA”) with ProDeMin, SA de CV (“ProDeMin”) signed on July 13, 2019 and amended on September 10, 2019 (“Amendment”), Silver Spruce provided written notification on November 28, 2019 to ProDeMin to terminate the LOA and Amendment to acquire Cocula.
As per the Amendment, such written notice may be provided at any time prior to midnight ET, November 30, 2019, without further recourse or liability, and with no further obligation to assume the Contract.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Executes Definitive Agreement for Melchett Lake VMS-Au Project
Momentum Public Relations
Press Release: November 26, 2019
Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) (TSXV:SSE)(Frankfort:S6Q1) is pleased to announce the completion of its due diligence and the signing of the Definitive Option and Purchase Agreement (“DA”) on the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada (“Project” or “Property”).
“We are very pleased to complete the Definitive Agreement to acquire 100% interest in the promising Melchett Lake VMS property,” stated Greg Davison, Director of Silver Spruce. “We continue to update the multi-element data received this week from the recent due diligence sampling, while building our GIS database with revised drill hole co-ordinates, and geophysical and geological information focusing on the next phase of the ground truthing program and developing priority drill targets”.
Letter of Intent
Silver Spruce Resources Inc. signed a binding Letter of Intent (“LOI”) on September 9, 2019 to acquire 100% of the Property. Silver Spruce had a 90-day window to December 6, 2019 to carry out its due diligence and execute a DA.
Definitive Agreement
The principal terms of the DA, as per the LOI, to purchase 100% interest in the Property include CAD$150,000 in cash payments and five million Silver Spruce common shares, spread over three years. The initial payment to the Vendor of CAD$25,000 and 500,000 shares is due upon signing and TSX Exchange approval.
Minimum work expenditures total CAD$1,000,000, with CAD$100,000 during the first year, CAD$200,000 in the second year and CAD$700,000 prior to the third anniversary, with all periods based from TSX Exchange approval of the DA. The Vendor will retain a two percent Net Smelter Return royalty of which 1% can be purchased by the Company for CAD$1,000,000 and the remaining 1% at market price.
Due Diligence
The recent project work was performed to verify the multi-kilometre strike length of the known areas of mineralization, broad intervals of mineralization, intense alteration profile similar to well-known polymetallic deposits, and presence of high-grade values of both precious metals and base metals reported from the historical exploration. The team examined the principal showings and trenches, and drill core at the Relf and Nakina targets along the principal mineralized trend. A total of seventy-two (72) rock and core samples were collected, sixty (60) of which were submitted for multi-element geochemical analysis. Results of all samples are now in receipt and pending interpretation.
Geology and Mineralization
The Property, located within Melchett Lake greenstone belt of the English River Sub-province of the Archean-age Superior Province, is underlain by a bimodal mafic-felsic sequence of pyroclastics, tuffs and flows with cherts and Fe-lean to Fe-rich iron formation. The Melchett Lake belt contains several occurrences of polymetallic Zn- Pb-Cu-Ag-Au VMS mineralization similar to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick and Rouyn-Noranda. Base metal mineralization consisting of pyrite, sphalerite, chalcopyrite and galena occurs within the intermediate to felsic metavolcanic sequences of the Property. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1%.
Highlights of the prospective geology, alteration and mineralization include multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones, and continuity, increased alteration and anomalous metal values over large intervals with a strong electromagnetic off-hole response. The mineralization is interpreted to occur as paleo-topographic accumulations related to fumarolic activity forming polymetallic deposits overprinted by a later stage gold-rich event.
Silver Spruce (press release of Nov. 12, 2019) reported precious and base metal assay data from the first batch of thirteen (13) rock samples collected from the Nakina and Relf Zones. Zinc values range up to 14.7%, lead to 0.96%, copper to 0.52%, silver to 301 g/t, and gold to 0.737 g/t and clearly represent the polymetallic nature of the mineralization from both targets, particularly the Relf Zone. The samples exhibit low alkali content, favourable pathfinder ratios, e.g., Zn/Na, and elevated values of heavy metals, including Te, Bi, Se, Sb, Hg, Cd and In, associated with sphalerite, galena, chalcopyrite and pyrite observed in the rock samples.
For comparison with the current due diligence samples at the Nakina l Zone, historical sampling reported, in separate samples, 14.85% Zn and 28.8g/t Au from a pyritized felsic metavolcanic. Rock sampling of a pyritized felsic metavolcanic in the Nakina 2 Zone returned a value of 15.08g/t Au. Selected grab samples taken from the Relf Zone averaged 13.0% zinc (Zn), 1.2% lead (Pb), 0.26% copper (Cu) and 325g/t silver (Ag); best results received were 19.1% Zn, 2.2% Pb, 0.40% Cu, 565g/t Ag and 1.72g/t gold (Au). Gold mineralization in the Iron Lake area occurred within a sericite-silica altered felsic metavolcanic containing pyrite with chalcopyrite and sphalerite. Grab samples reported 7.7g/t Au, 13.05g/t Au and 13.48g/t Au. All of the metal values reported by past operators in the Melchett Lake area, were sourced from grab samples which may not be representative of the metal grades, and are historical in nature.
Maps and site photographs of the core and trenching areas are available on the Silver Spruce website at Melchett Maps and Melchett Photos, and the geological and GIS compilations will be reported and posted on the Company website in due course.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person (QP) for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines. Mr. Davison explored the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983-84) and Tribute Minerals (1999-2002), respectively, and has a referral fee arrangement with the Vendor. Consulting geologist Luc LePage, MSc, PGeo was the manager of the on-site activities for the field program and is a QP within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua State, Mexico. The Company also has entered into a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico, and subject to ongoing due diligence. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Resources Inc. (TSXVSE: SSE) A Fundamentally Attractive Investment On Two Key Flagship Projects
Silver Spruce Resources Inc. (TSXVSE: SSE) has expanded their footprint in recent months after a phenomenal start to the year that resulted in the stock rallying by more than 100%. Now that the expansion plans are solidified, the stock looks set to continue its reliable performance as its improving underlying fundamentals continue to affirm growth metrics and long-term prospects.
The company’s prospective mining projects provide clear evidence that a positive trend of market sentiments, as well as price action activity, is materializing. A string of surprising good news on the development of flagship projects continues to strengthen the company’s sentiments in the market.
The Pino De Plata Project in Chihuahua Mexico, and the Melchett Lake VMS Project in northern Ontario Canada affirm Silver Spruce Resources in the mining industry. The two prospective projects are at the heart of the company’s core business in the push for shareholders’ value in the mining industry.
Pino De Plata Project
Located in the prolific Sierra Madre Occidental silver-gold region in Mexico, Pino De Plata Project is one of Silver Spruce Resources flagship projects. First mined in the 1600s, the property is believed to contain high silver/base metals.
The Pino de Plata project provides Silver Spruce Resources with exposure to high silver and base metal values, including zinc, copper, and lead mineralization hosted in various veins, breccia and stockworks. A recently concluded exploration assessment yielded many silver values over 200 g/tonne. In some areas of the project, the company sampled over 1 kilo silver which can be viewed here: http://www.silverspruceresources.com/i/pdf/reports-and-tables/Pino-de-Plata-Assays-April-2019.pdf.
Silver Spruce Resources has already identified a systematic exploration program for the project. Currently, it is in the process of identifying potential drill targets.
Melchett Lake VMS Project
Melchett Lake VMS Project is another prospective silver, lead, gold and copper project located in the Thunder Bay Mining District in Ontario, Canada. Situated within an active exploration and mining region, the 1,820-hectare project is within an aggressive exploration and mining region.
Geological surveying and an exploration program have already affirmed the presence of a high economic bearing zinc, lead, silver, gold belt in the area. The project consists of 88 single cell mineral claims with first base metals reported in 1959.
Silver Spruce has signed a letter of intent with three parties to acquire 100% of the Melchett Lake Zn-Au-Aug project. The acquisition will grant it access to advance base metal projects in Northern Ontario, Canada.
Why Invest in Silver Spruce Resources
Silver Spruce Resources is a prospective junior exploration company with tremendous potential. A robust pipeline of high-grade mining projects means the company is on its way to generating significant value as exploration activities have already validated mineralization at the projects.
At the ‘identification of drill targets’ stage with Pino de Plata as well as the acquisition of the Melchett Lake Project, SSE is poised to diversify the company’s mineral deposits allowing investors to gain additional exposure to lead, zinc, silver, and gold mining.
An aggressive management team continues to investigate new opportunities in the mining industry, further affirming the company’s long-term prospects. The acquisition of the Melchett Lake Project as well as the Pino Del Plata project all but underscores the management’s focus on pursuing projects with tremendous potential in the industry.
The stock stabilizing above the $0.05 level, after hitting a $0.03 mark early in the year, indicates strengthened investor confidence amidst the ongoing exploration activities at the three flagship mining projects.
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Verifies High Grade Polymetallic Zinc-Copper-Silver at Melchett Lake
Momentum Public Relations
Press Release: November 12, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce the receipt of the initial batch of sample assays from its October 2019 field due diligence program on the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada.
“We are very pleased to verify the high grades and polymetallic nature of the Relf and Nakina targets located 5 kilometres apart in the favorable quartz-sericite-pyrite horizon. The first batch contains several samples with elevated precious metals including those from the Relf Zone,” stated Greg Davison, Director of Silver Spruce. “We continue to update the multi-element data as available and advance our due diligence, while building our GIS database with recently revised drill hole co-ordinates, geophysical and geological information focusing on priority drill targets”.
Due Diligence and Exploration
The current work was performed to update and verify the multi-kilometre strike length of the known areas of mineralization, broad intervals of mineralization, intense alteration profile similar to well-known polymetallic deposits, and presence of high-grade values of both precious metals and base metals reported from the historical exploration. The team examined the principal showings and trenches, and drill core at the Relf and Nakina targets along the principal mineralized trend. A total of seventy-two (72) rock and core samples were collected, sixty (60) of which were submitted for multi-element geochemical analysis.
Rock sampling was carried out at both the Nakina and Relf targets at known trench locations. The Nakina targets are characterized by high silica-pyrite and a well-foliated micaceous fabric. The Relf trenches are intensely altered and well oxidized on surface with extensive gossans with very friable to siliceous quartz-sericite schists, pervasive discoloration by iron and massive to spongy ferroan “blackjack” sphalerite in thin stringers to sphalerite-pyrite lenses over an exposure of more than forty by twenty metres.
The following tabulation reports the principal precious and base metal assay data from the first batch of rock samples collected from the Nakina and Relf Zones. Zinc values range up to 14.7%, lead to 0.96%, copper to 0.52%, silver to 301g/t, and gold to 0.737g/t and clearly represent the polymetallic nature of the mineralization from both targets, particularly the Relf Zone. The samples exhibit low alkali content and elevated values of heavy metals, including Te, Bi, Se, Sb, Hg, Cd and In, associated with sphalerite, galena, chalcopyrite and pyrite observed in the rock samples.
Sample No. |
Zinc ppm |
Lead ppm |
Copper ppm |
Silver ppm |
Gold ppm |
Zinc % |
Silver g/t |
Nakina Zone | |||||||
108101 |
20 |
10.6 |
16.5 |
1.1 |
0.031 |
||
108102 |
2 |
0.4 |
0.7 |
0.02 |
0.002 |
||
108103 |
3310 |
892 |
58.6 |
1.6 |
0.088 |
||
108104 |
>10000 |
6690 |
399 |
4.06 |
0.383 |
3.24 |
|
108105 |
108 |
63.8 |
11.8 |
0.31 |
0.022 |
||
108106 |
230 |
22.5 |
52 |
1.04 |
0.012 |
||
Relf Zone | |||||||
108201 |
203 |
12.4 |
51.7 |
1.02 |
0.012 |
||
108204 |
>10000 |
622 |
1465 |
27 |
0.053 |
3.98 |
|
108205 |
>10000 |
634 |
1470 |
27.5 |
0.03 |
1.08 |
|
108207 |
>10000 |
1185 |
2250 |
52.7 |
0.034 |
4.42 |
|
108210 |
>10000 |
2740 |
5180 |
>100 |
0.737 |
9.12 |
131 |
108211 |
>10000 |
863 |
2050 |
39.1 |
0.054 |
4.89 |
|
108217 |
>10000 |
9650 |
1600 |
>100 |
0.119 |
14.7 |
301 |
For comparison with the due diligence samples, at the Nakina l Zone, Nakina Mines reported, in separate samples, 14.85% Zn and 28.8g/t Au from a pyritized felsic volcanic unit. Rock sampling of a pyritized felsic volcanic unit in the Nakina 2 Zone by Kerr Addison returned a value of 15.08g/t Au. Selected grab samples taken from the Relf Zone by Shawmin averaged 13.0% zinc (Zn), 1.2% lead (Pb), 0.26% copper (Cu) and 325g/t silver (Ag); best results received were 19.1% Zn, 2.2% Pb, 0.40% Cu, 565g/t Ag and 1.72g/t gold (Au). A selection of Relf Zone samples collected in 1984 by Kerr Addison geologist and current Silver Spruce director G. Davison is shown below.
Sample No. |
Zinc % |
Lead % |
Copper % |
Silver g/t |
Gold g/t |
1061 |
12.90 |
1.920 |
0.288 |
552 |
0.020 |
1062 |
2.63 |
0.870 |
0.116 |
254 |
0.012 |
1063 |
2.77 |
0.356 |
0.164 |
157 |
0.037 |
1064 |
11.60 |
0.866 |
0.507 |
278 |
0.028 |
1065 |
16.80 |
2.400 |
0.075 |
655 |
0.018 |
1066 |
8.26 |
0.330 |
0.972 |
170 |
0.025 |
1067 |
11.10 |
1.300 |
0.142 |
394 |
0.022 |
1068 |
9.88 |
0.558 |
0.154 |
179 |
0.035 |
Gold mineralization in the Iron Lake area, which was not examined during the October 2019 field due diligence program, contained similar sericite-silica altered felsic metavolcanics with 3-8% pyrite, with lesser chalcopyrite and sphalerite. Grab samples reported 7.7g/t Au, 13.05g/t Au and 13.48g/t Au. “Sampling and exploring this gold mineralization in the Iron Lake area will be a top priority during our second field due diligence program slated over the next few months,” stated Greg Davison, Director of Silver Spruce.
All of the metal values reported by past operators in the Melchett Lake area, were sourced from grab samples which may not be representative of the metal grades, and are historical in nature.
Maps and site photographs of the core and trench areas are available on the Silver Spruce website at Melchett Maps and Melchett Photos, and the geological and GIS compilations will be reported and posted on the Company website in due course.
Project Background
The Property, located within Melchett Lake greenstone belt of the English River Sub-province of the Archean-age Superior Province, is underlain by a bimodal mafic-felsic sequence of pyroclastics, tuffs and flows with cherts and Fe-lean to Fe-rich iron formation. Several occurrences of polymetallic Zn-Pb-Cu-Ag-Au VMS style mineralization are similar in character to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick, Rouyn-Noranda and Uchi Lake. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8g/t Au, silver grades to 560g/t Ag and zinc grades to 19.1%.
Highlights of the prospective geology, alteration and mineralization include multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones, and continuity, increased alteration and anomalous metal values over large intervals (up to 245 metres in DDH SB-07-01 from 345-590metres) with a strong electromagnetic (BHTEM) 20 channel off-hole response.
Geochemical Analysis, Quality Assurance and Quality Control
Samples were collected by the Company’s QPs, packaged in plastic bags with Tyvek tags and shipped by contract air services to Nakina and, using the QPs’ private vehicles, delivered directly to the ALS Global sample preparation facilities in Thunder Bay, Ontario. Photographs of the individual rock and core samples were collected from each sample prior to shipment and all images will be made available on the Company web site in due course.
Samples were weighed on receipt (WEI-21) and logged into the global tracking system (LOG-22). The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams was pulverized to 85% passing 75 micrometres (-200 mesh). The sample pulps were transferred internally to ALS Global’s North Vancouver analytical facility for analysis. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.
The first batch of thirteen rock samples are reported herein. Twenty-four pulps (25gram split) were submitted for analysis by Aqua Regia Digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) multi-element analyses (ALS Code AuME-TL43, 51 elements). Thirty-six pulps also were submitted for whole rock oxide, metals and multi-element analysis. Results of forty-seven samples are pending.
All precious and base metal analyses that reached the over-limits of AuME-TL43 were re-analyzed with an Ore Grade method. Over-limit Zn (>1%) and Ag (>100ppm) samples were analyzed by Ore Grade Aqua Regia Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Ag (ALS Code Ag-OG46) and Zn (ALS Code Zn-OG46).
No independent or in-house quality control samples (blanks, standards, duplicates) were inserted into the sample sets. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results are provided with the Company sample certificates. The results of the ALS control samples will be reviewed by the Company’s QP and evaluated for acceptable tolerances. All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person (QP) for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines. Mr. Davison worked the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983 and 1984) and Tribute Minerals (1999 to 2002), respectively. Consulting geologist Luc LePage, MSc, PGeo was the manager of the on-site activities for the field program and is a QP within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project in western Chihuahua State, Mexico. The Company has signed a binding Letter of Intent to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, Canada and a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Completes Melchett Lake Due Diligence Field Program
Momentum Public Relations
Press Release: October 31, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce the completion of its field due diligence program on the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada. Mobilization to the Property by air from Nakina was conducted on October 3rd, 2019 for a seven-day field program focusing on the known targets with drill core and surface exposures.
“We are very pleased to report on management site visits to provide oversight on targeted exploration and data verification on the Melchett Lake VMS-Au Property which will support a pending decision to earn a 100% interest in the project,” stated Karl Boltz, CEO of Silver Spruce.
“We continue to advance our due diligence pending multi-element geochemical results from rock and core samples, while building our Leapfrog GIS database with recently revised drill hole co-ordinates and all available drilling, geophysical and geological information to identify additional VMS sulphide mineral responses and alteration vectors leading to drill target identification,” stated Greg Davison, Director of Silver Spruce. “Ontario Ministry of Energy, Northern Development and Mines work permits currently are in place for our follow-up exploration program including geological sampling, trenching and diamond drilling.”
Letter of Intent
Silver Spruce Resources Inc. signed a binding Letter of Intent (“LOI”) to acquire 100% of the Melchett Lake Zn-Au-Ag volcanogenic massive sulphide (“VMS”) project, Thunder Bay Mining District, northern Ontario, Canada. The LOI was executed on September 9th, 2019. Silver Spruce has a 90-day window after signing the LOI to carry out its due diligence and prepare a Definitive Agreement (“DA”).
Due Diligence and Exploration
The current work was performed to update and verify the multi-kilometre strike length of the known areas of mineralization, broad intervals of mineralization, intense alteration profile similar to well-known polymetallic deposits, and presence of high-grade values of both precious metals and base metals reported from the historical exploration.
Field work for the due diligence program focused on geological sampling and data verification on known occurrences, GPS location surveys of the historical drill collars to update the 2D and 3D Leapfrog model, and preservation and sampling of the diamond drill core stored on the Property.
The team examined the principal showings and trenches, and drill core at the Relf and Nakina targets separated by 5km along the principal mineralized trend. Limited ground truthing of geochemical and geophysical targets was conducted over areas peripheral to the known mineralization.
The Property was accessed via float equipped aircraft from Nakina to fly camps on both Relf Lake and Kapikotongwa Lake, the latter west of Melchett Lake, and by helicopter to camp sites and target areas from Nakina Airport.
The team spent four days at the Relf Lake showings and three days at the Nakina showings. Silver Spruce Director, Greg Davison, who worked the Melchett Lake area for Kerr Addison Mines and Tribute Minerals, respectively, led the management visit to the Property. Consulting Geologist Luc Lepage, MSc, PGeo, was the manager of the on-site activities for the field program. Mr. Lepage has extensive international experience including field work at the nearby Marshall Lake VMS project.
Drill core from the Stratabound Minerals program of two holes in 2007 and 2008 was stacked at the Relf Lake collar sites whereas Kerr Addison core from the 1983-1987 programs were stored in racks near the Kapikotongwa Lake (“Kap”) camp location, two kilometres west of the Nakina showings. The former core was well preserved, and all of the remaining core was laid out and reviewed before cross-stacking, and 10cm whole core samples were collected for metal and alteration geochemistry. The altered and mineralized intervals previously were sampled in select sections using whole core (20% of 1metre intervals per 8metres, additional intervals in well mineralized core) and the abundant gap intervals were marked. The collars for the Relf area holes and the main trench zone were re-located using GPS.
The core at Kap-Nakina included Kerr Addison holes from both the Nakina and Relf targets. The core racks were in very poor condition and only a small proportion of the core was readily accessible for sampling as labels and core integrity were limited. Samples for geochemistry were selected only where hole identification was verified. The collars for the Nakina area holes, which exhibited significant variance from the assessment literature, and the trench zones, were re-located using GPS.
Rock sampling was carried out at both the Nakina and Relf targets at known trench locations. The Nakina targets are characterized by high silica-pyrite and a well foliated micaceous fabric. The Relf trenches are intensely altered and well oxidized on surface with extensive gossans with very friable to siliceous quartz-sericite schists, pervasive discoloration by iron and massive to spongy ferroan “blackjack” sphalerite in thin stringers to sphalerite-pyrite lenses of several centimetres, over an exposure of more than forty by twenty metres. The schists exhibited finely disseminated pyrite within granular quartz-sericite with pinch swell textures and steep dips along an east-west fabric. Lineations, from limited measurements, in the area are steeply dipping and appear orthogonal to the principal oblate alignment of the mineralization.
A total of seventy-two (72) rock and core samples were collected, sixty of which were submitted for multi-element geochemical analysis and the results are pending.
Maps and site photographs of the core and trench areas are available on the Silver Spruce website at Melchett Maps and Melchett Photos, and the geological and GIS compilations will be reported and posted on the Company website in due course.
An update to the NI 43-101 technical reporting initiated by an independent Qualified Person (“QP”) is planned during Q1 2020 upon acquisition of the detailed airborne and downhole geophysical survey data, structural geology analysis, receipt of the due diligence assays, interpretation of the geochemical vectors and development of the 2020 program proposals.
Project Background
The Property, located within Melchett Lake greenstone belt of the English River Sub-province of the Archean-age Superior Province, is underlain by a bimodal mafic-felsic sequence of pyroclastics, tuffs and flows with cherts and Fe-lean to Fe-rich iron formation. Several occurrences of polymetallic Zn-Pb-Cu-Ag-Au VMS style mineralization are similar in character to ore deposits exploited at Mattabi, Winston Lake, Geco, Brunswick, Rouyn-Noranda and Uchi Lake. There are locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8g/t Au, silver grades to 560g/t Ag and zinc grades to 19.1%.
Highlights of the prospective geology, alteration and mineralization include multiple folded or stacked horizons of coincident alteration and metal mineralization, high Zn/Cu, Zn/Pb and Ag/Au ratios, extensive remobilization of major and trace elements with defined enrichment (Fe, Mg, Co, Cr, Cd) and depletion (Na, Sr, Ca) zones, and continuity, increased alteration and anomalous metal values over large intervals (up to 245 metres in DDH SB-07-01 from 345-590metres) with a strong electromagnetic (BHTEM) 20 channel off-hole response.
Selected grab samples taken from the Relf Zone by Shawmin averaged 13.0% zinc (Zn), 1.2% lead (Pb), 0.26% copper (Cu) and 325g/t silver (Ag); best results received were 19.1% Zn, 2.2% Pb, 0.40% Cu, 565g/t Ag and 1.72g/t gold (Au). A selection of Relf Zone samples collected in 1984 by Kerr Addison geologist and current Silver Spruce director G. Davison is shown below.
Sample No. |
Zinc % |
Lead % |
Copper % |
Silver g/t |
1061 |
12.90 |
1.920 |
0.288 |
552 |
1064 |
11.60 |
0.866 |
0.507 |
278 |
1065 |
16.80 |
2.400 |
0.075 |
655 |
1066 |
8.26 |
0.330 |
0.972 |
170 |
1067 |
11.10 |
1.300 |
0.142 |
394 |
At the Nakina l Zone, Nakina Mines reported, in separate samples, 14.85% Zn and 28.8g/t Au from a pyritized felsic volcanic unit. Rock sampling of a pyritized felsic volcanic unit in the Nakina 2 Zone by Kerr Addison returned a value of 15.08g/t Au.
Gold mineralization in the Iron Lake area, which was not examined during the current due diligence program, is traced for at least 600metres within a sheared, sericite-silica altered felsic metavolcanic and contains 3-8% pyrite, with lesser chalcopyrite and sphalerite. Grab samples reported 7.7g/t Au, 13.05g/t Au and 13.48g/t Au.
All of the above metal values were reported by past operators in the Melchett Lake area, from grab samples which may not be representative of the metal grades, and are historical in nature.
Exploration History
Base metals were first reported in 1959 by Kerr-Lund and Little Long Lac Gold Mines in the Kerr-Lund (Relf) Zone. Between 1964 and 1997, the area was held by Shawmin, Nakina Mines, Chimo Gold Mines, Falconbridge, Cominco, Kerr Addison Mines, Minnova, Inmet and Redbird. Tribute staked a large claim group in 1999 and during 2002 completed a 217 line-kilometre DIGHEMv airborne magnetic and electromagnetic geophysical survey using a 100metre separation. Stratabound Minerals, during 2007 and 2008, completed two drill holes and downhole geophysics with Maxwell modelling. The property was staked by the current Vendors in 2017.
In addition, Fugro carried out a regional airborne magnetic gradiometer survey for the Ontario Geological Survey from 2009-2010 which comprised over 75,000 line-kilometres of data acquisition, flown in a north-to-south direction with 200 metre flight line spacing and with full coverage over the Property and the Melchett Lake greenstone belt.
Geochemical Analysis, Quality Assurance and Quality Control
Samples were collected by the Company’s QPs, packaged in plastic bags with Tyvek tags and shipped by contract air services to Nakina and, using the QPs’ private vehicles, delivered directly to the ALS Global sample preparation facilities in Thunder Bay, Ontario.
Photographs of the individual rock and core samples were collected from each sample prior to shipment. Several select rock samples from the Nakina and Relf trenches were split as required, with a representative portion bagged and sealed in packages by the QPs for analysis. These rock samples selected for display and investor meetings were photographed at the offices of the QP, and all images will be made available on the Company web site in due course.
Samples were weighed on receipt (WEI-21) and logged into the global tracking system (LOG-22). The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams was pulverized to 85% passing 75 micrometres (-200 mesh).
The sample pulps were transferred internally to ALS Global’s North Vancouver analytical facility for analysis. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.
Twenty-four pulps (25gram split) were then submitted for analysis by Aqua Regia Digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) multi-element analyses (ALS Code AuME-TL43, 51 elements).
Thirty-six pulps were submitted for whole rock oxide, metals and multi-element analysis by lithium borate fusion and acid digestion followed by Inductively-Coupled Plasma-Atomic Emission Spectrometry (ICP-AES) (ALS Code ME-ICP06, 13 elements), Loss on Ignition (LOI) at 1000C by furnace or TGA, Inductively Coupled Plasma Mass Spectrometry (ICP-MS) on the same fused bead after acid digestion (ALS Code ME-MS81d, 30 elements), and measured by Inductively-Coupled Plasma-Atomic Emission Spectrometry (ICP-AES) after a near-total digestion in a mixture of HCl, HNO3, HClO4, and HF (ALS Code ME-4ACD81, 12 elements).
All precious and base metal analyses that reach the over-limits of AuME-TL43, ME-MS81d or ME-4ACD81 will be re-analyzed with an Ore Grade method. Over-limit Cu (>1%), Pb (>1%), Zn (>1%) and Ag (>100ppm) samples are analyzed by Ore Grade 4 Acid Digestion followed by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Pb (ALS Code Pb-OG62) and Ag (ALS Code Ag-OG62), and by Atomic Absorption Spectroscopy (AAS) for Cu (ALS Code Cu-AA62) and Zn (ALS Code Zn-AA62). Gold will be analyzed using 30gram fire assay with Atomic Absorption Spectroscopy (ALS Code Au-AA23). Over-limit Au (>10ppm) will be conducted by 30gram fire assay with Gravimetric finish (ALS Code Au-GRA21).
No independent or in-house quality control samples (blanks, standards, duplicates) were inserted into the sample sets. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results are provided with the Company sample certificates. The results of the ALS control samples will be reviewed by the Company’s QP and evaluated for acceptable tolerances. All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.
Qualified Person
Greg Davison, MSc, PGeo and Silver Spruce Director, is the Company’s internal Qualified Person (QP) for the Melchett Lake Project and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines. Mr. Davison worked the Melchett Lake area as Project manager and VP Exploration for Kerr Addison Mines (1983 and 1984) and Tribute Minerals (1999 to 2002), respectively. Consulting geologist Luc LePage, MSc, PGeo was the manager of the on-site activities for the field program and is a QP within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project in western Chihuahua State, Mexico. The Company has signed a binding Letter of Intent to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, Canada and a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
Silver Spruce Announces MOU with China University of Mining and Technology for Joint Geological Research
Momentum Public Relations
Press Release: October 29, 2019
Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (“Silver Spruce” or the “Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with China University of Mining and Technology (“CUMT”) to engage in joint geological research, field work, and educational studies on Silver Spruces properties.
CUMT was founded in 1909 and is one of China’s premier mining universities, with over 30,000 students enrolled. Execution of the MOU followed a seminar at CUMT’s main campus in Xuzhou, China on October 18, 2019, when Director, Kevin R. O’Connor introduced Silver Spruce’s three current projects, and when CEO, Karl Boltz participated by live video.
“We are honored to have introduced our projects to professors and Ph.D. students at CUMT,” stated Karl Boltz, CEO of Silver Spruce. “We look forward to them visiting our properties to engage in joint research. We are hopeful the perspective that they bring to our projects and their collective network of mining contacts in China will be of benefit to Silver Spruce over the long-term.”
Under the terms of the non-binding MOU, the parties will look for mutually convenient times when professors and graduate students of CUMT can visit Silver Spruce properties to engage in joint geological research, field work, and educational exchanges.
“I was fortunate to have been introduced to CUMT by the Chairman of one of China’s largest construction equipment companies,” stated Kevin R. O’Connor, Director of Silver Spruce. “During my eleven years working in China as an attorney for multinational companies, I was involved in numerous construction and mining equipment projects. My intent is to explore additional cooperation opportunities involving China for Silver Spruce. The appetite for precious and industrial metals in China appears immense.”
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico, and a Letter of Intent to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, Canada. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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 company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
- Published in Mining, News Home, Silver Spruce Resources
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