Silver Spruce
signs
Contract
for
Eagle Mapping LiDAR Survey
and provides Exploration Update
on El Mezquite and
Jackie Au-Ag Properties,
Sonora, Mexico
February
5,
2021
- Bedford,
NS - InvestorsHub NewsWire - (TSXV:SSE) -
Silver Spruce Resources,
Inc.
("Silver Spruce"
or the "Company")
is pleased
to announce
another
step forward
in its ongoing exploration
programs
on
the
El Mezquite and Jackie properties with the signing of
an
airborne survey
contract with Eagle Mapping Ltd.
("Eagle Mapping")
of Port Coquitlam, British Columbia.
"Silver Spruce is
adding to its growing digital database for the El Mezquite and
Jackie exploration properties
while advancing our
active
Phase 1 mapping and sampling programs. The new LiDAR data
will enhance 2D and 3D
spatial
interpretation of the historical and current
geological and structural information
to support
initial
drill program design at El Mezquite",
said Greg Davison, Silver Spruce VP Exploration.
"Our
early prospecting reports from
Jackie
(see image below)
point to a similar alteration style
to El Mezquite
and
we
are
identifying
pristine targets
for
planned
Phase 2 detailed mapping studies
upon receipt of analytical data from ALS Global".
Early stage prospecting at Jackie
showing
extensive
silicification, argillic and oxide alteration
The Company has
retained Eagle Mapping Ltd. ("Eagle
Mapping") to carry out a
LiDAR (Light Detection and Ranging) survey over the El Mezquite and
Jackie properties.
Eagle Mapping
will
collect LiDAR data and aerial photography at a minimum density of
8 ppm with
expected accuracies of ±15 cm in the
vertical and ±30 cm in the
horizontal. Colour aerial photography will be orthorectified
to the LiDAR base earth model with a 12 cm pixel
resolution. Digital elevation (DEM) and digital
surface models
(DSM)
with
contours at 1 metre will be generated. The
LASer (LAS)
point cloud with
classified bare earth and metadata final report will be
contained
in
the deliverables.
The LAS format is an open binary file format designed for the
interchange and archiving of
LiDAR
point cloud data and regarded as an industry standard for LiDAR
data.
The
Eagle Mapping
aircraft will mobilize from Abbotsford, British Columbia
upon receipt of all international flight permits. The
survey
flights
will be
based from Yuma, Arizona and should be completed
by mid-February
2021.
Eagle Mapping
has more than 30 years of Aerial Mapping experience and flown LiDAR
surveys from Alaska to Chile for clients associated with Mining,
Forestry, Engineering, Ecological and First Nations sectors.
They specialize in Aerial LiDAR and air
photo collection and processing, and own state of the art LiDAR
collection equipment including the RIEGL VQ-780i, LMS-Q1560 and
LMS-Q780 using the most sophisticated software to process LiDAR
data.
GeoDigital
Imaging de Mexico S.A. de C.V. ("GeoDigital") has been retained to
compile the Company's El Mezquite and Jackie GIS data and prepare
digital base maps for geographical, geological, geochemical and
geophysical information including
the upcoming LiDAR
data.
GeoDigital,
based in Hermosillo since 2008, provides the highest international
quality standards in geological consulting, satellite imagery and
geographic information systems, resource estimation and 3D
modelling, topography and digital elevation models, geology and
software training.
Exploration Update
Exploration at the El Mezquite property has identified
historical
artisanal mining,
multiple zones of brecciation, silicification and
silicate-oxide-sulphate-clay alteration, coincident high
chargeability anomalies, and discrete geochemical and structural
trends,
containing broad areas of elevated precious metal
values.
The Company's prospecting team has completed two field stints of
two weeks duration each on the property with the completion of the
planned six week Phase 1 program expected in late February (Press
release August 12, 2020). The initial exploration sample data
and geochemical analyses are being compiled for interpretation and
will be provided shortly.
The Jackie property, located 2
km to the southeast along the general geological strike of the
belt, has seen very little,
if any,
structured exploration.
Early prospecting summary reports show areas of intense alteration
and brecciation similar to those observed at El
Mezquite.
The Company's prospecting team has been active on the property for
more than three weeks of the planned one-month Phase 1 program to
mid-February (Press release January 18, 2021) and initial
exploration results will be provided
when available.
Project
Geology and Location
Silver
Spruce's El Mezquite
and Jackie
Projects
are
located within
the western
portion of the
Sierra Madre Occidental Volcanic Complex within the
prominent northwest-trending "Sonora Gold Belt" of northern Mexico
and parallel to the precious metals-rich Mojave-Sonora
Megashear.
The 180-ha El Mezquite Au property, a drill-ready project, and the
1,130-ha Jackie Au-Ag property, an early-stage
project, both are located approximately 175 km
east-southeast of Hermosillo,
Sonora, Mexico.
The
Properties are situated only two kilometres apart in the N-S
direction and approximately six kilometres northwest of the Nicho
deposit currently under mine development by Minera
Alamos.
Other nearby
large operating mines include Alamos Gold's Los Mulatos gold mine
and Agnico Eagle's La India gold mine located 50-60 km to the
northeast, Agnico Eagle's Pinos Altos Mine, 95 km southeast and
Argonaut's La Colorada Mine, 100 km to the west.
Exploration is
very active,
with
adjacent and nearby properties reported to be held by Minera
Alamos, Newmont, Garibaldi,Evrim, Kootenay Silver and
Peñoles.
Left - Map of the Sierra Madre Occidental with property
locations
Right - Silicification and hematite overprint at the El Mezquite
property
The
known
mineralization
commonly consists of disseminated gold hosted in strongly
argillized and moderately silicified andesite rocks, typical to the
Sierra Madre geological model of the principal deposits.
There are at least four hydrothermally altered, oxidized
zones at El
Mezquite (see
image above)
trending north
to northwest
though the major
trend of mineralization identified by
previous rock sampling has been
reported as NE-SW. The highest values of gold and silver
reported on
El
Mezquite are 3.41 g/t Au
and 198 g/t Ag. No
historical data has been recovered for the Jackie
property.
Qualified Person
Greg
Davison, PGeo (BC), Vice-President Exploration & Director, is
the Company's internal
Qualified Person (QP) 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.
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 50% interest in Colibri's
early stage Jackie Au project, with both properties located
to investigate opportunities that Management has identified or that
have been presented to the Company for
consideration.
Contact:
Silver Spruce Resources Inc.
Brian Penney,
Chairman and CEO
(902) 430-8270
info@silverspruceresources.com
www.silverspruceresources.com
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.
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.
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