SILVER SPRUCE PROVIDES PINO DE PLATA PROJECT SITE VISIT UPDATE AND PLANS FOR MAIDEN DRILL PROGRAM
Silver Spruce Resources Inc.'s field crew has completed a successful site visit to the Pino de Plata project. The 397-hectare project is located in the Sierra Madre Occidental of Western Chihuahua state, Mexico, approximately 15 kilometres from Coeur Mining's Palmarejo silver project and approximately 12 kilometres due south of the town of Chinipas, Chihuahua state, Mexico.
Led by Leonard J. Karr, professional geologist and a qualified person, under TSX guidelines, the field team successfully pinpointed the proposed drill hole locations and mapped the new road access for the upcoming maiden drill program at the project. The team also completed on-site tours with representatives of three drilling companies that are submitting bids for the drilling contract. This first-ever drill program at the project is based on recommendations contained in the NI 43-101 report, which is available on the company's website and is filed on SEDAR.
Preparations for drill road and drill pad construction are under way and should be completed by the end of September. Local support for the project is very positive. The company seeks to utilize local contractors, operators and labour, whenever appropriate, in line with its sustainable business practices.
"We are excited to be preparing for the project's first-ever drilling program," stated Dr. Brian Penney, chairman of Silver Spruce Resources Inc. "The areas where high silver values were sampled at surface are the primary focus of the program and indicate that very significant mineralized intervals may be encountered."
The 397-hectare Pino de Plata Ag-Pb-Zn-Cu-Au project is located approximately 15 kilometres from Coeur Mining Inc.'s Palmarejo open pit and underground operations. Although the Pino de Plata project has supported small-scale historical production of high-grade mineralization from numerous areas, it had never been systematically explored and has had no drilling.
Ninety-two samples were taken during the NI 43-101 field examination and show the examined project area to host widespread intrusive epithermal mineralization at surface with silver values, on average, of greater than 50 grams per tonne (g/t), that is 1.6 ounces per ton, over an area of more than one square km (greater than 100 hectares). Within the area examined, specific targets were sampled with silver (Ag) assays of up to 557 g/t or 17.9 ounces in outcrop.
Three types of mineralization were identified in the maiden NI 43-101 report: disseminated epithermal mineralization in igneous (intrusive) rock, carbonate replacement mineralization in sedimentary limestone/marble and sandstone/hornfels and several areas of significant outcropping vein mineralization. Each of the host areas identified in the 43-101 technical report provide immediates drill targets with open pit potential.
The company intends to initiate a 1,000- to 1,500-metre reverse circulation drill program to test these defined targets where high grades of mineralization were sampled at surface.
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