September 9, 2021 - Bedford, NS - InvestorsHub NewsWire
- (TSXV:SSE)
- Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company")
is pleased to announce the receipt of its report from Strategic
Consultants IGIS, ("SCIGIS") based in Chihuahua, Mexico, providing
a comprehensive interpretation of regional ASTER (Advanced
Spaceborne Thermal Emission and Reflectance Radiometer) and LANDSAT
8 OLI (Operational Land Imager) data over three exploration
properties comprising El Mezquite, Jackie and Diamante (see Figure
1).
Figure 1. El Mezquite, Diamante 1 and 2, and Jackie
Concession Location Map. Nicho mine development by Minera Alamos
located 6 km SE of Jackie (Image taken from Google Earth).
We continue to build on the Sonoran project geotechnical
database using advanced processing techniques for re-interpretation
of available ASTER and LANDSAT 8 OLI imagery. The TLALI algorithm
processing clearly illustrated its capabilities in mineral and
anomaly identification with clarity of spatial response," said Greg
Davison, Silver Spruce VP Exploration and Director. "We are
compiling and interpreting the Shortwave Infrared ("SWIR") and
Visible to Near-Infrared ("VNIR") hyperspectral data from El
Mezquite and Jackie rock samples in concert with the ASTER/LANDSAT
alteration fields for the next phase of drill target definition
after recently completing our maiden drill program on EL Mezquite
and Phase 2 geological and alteration mapping on Jackie. The SCIGIS
maps also will be used for focusing and planning of the targeted
geological mapping program at Diamante 1 and 2 in Q4 2021."
The SCIGIS study comprised a spectral reconnaissance of the
Properties (Diamante 1, Diamante 2, El Mezquite, and Jackie) to
understand the structural and lithological controls in a regional
context and provide additional detail on the mineral-by-mineral
distribution over each of the Properties. SCIGIS research covered
an area of 6,500 hectares - the map area shown in Figure 2. The
ASTER imagery was processed using the proprietary TLALI algorithm,
which has shown significant success in optimizing and recognizing
anomalies in a wide range of geological environments from several
international projects.
A second run was carried out using LANDSAT 8 OLI imagery and
focus on clay minerals, ferrous iron, and iron oxide species. The
reporting included a complete set of shapefiles, index raster and
RGB images, index reclassifications, and various digital elevation
rasters with shading and lineament extraction in ArcGIS format.
Project Geology - Spectral Response
The El Mezquite and Diamante properties each exhibit features
that manifest with excellent hyperspectral signatures and responses
for a broad suite of oxide and silicate minerals. The remote
spectral response distribution, particularly for Jackie, is limited
by extensive vegetation. A historical study of ASTER imagery was
performed in 2017 principally on the Diamante and El Mezquite
properties and identified hyperspectral responses interpreted as
supergene oxidation and argillization with propylitic areas, the
latter mainly in less altered andesites.
Figures 2 and 3 illustrate examples of the Servicio Geológico
Mexicano ("SGM") alteration and the recent LANDSAT 8 OLI
interpretation for the three properties mainly for the Diamante and
El Mezquite projects. Data available from the GEOINFOMEX SGM web
portal displayed alteration with broadly circled areas of grouped
minerals or styles. It is noteworthy that the Jackie property
showed only minimal LANDSAT 8 OLI responses though the evidence
from the current ground exploration successfully identified
significant clay and oxide minerals proximal to the Au-Ag anomaly
(see Press Releases - June 10th and June 26th, 2021).
El Mezquite - A white mica-dominant assemblage with lesser
jarosite, kaolinite and iron oxides, distal zones containing
chlorite, and intermittent areas of aluminous minerals locally
linked to potential structural lineaments, were identified by the
rock hyperspectral response. The LANDSAT 8 OLI TLALI maps
illustrate northeast and northwest-trending clusters tied to
surfaces exposure and topographic features including faults
interpreted from the magnetic and 3D IP surveys. ASTER data
documented, in Figures 3 and 4, the kaolinite, alunite and
pyrophyllite group, with silica spatially associated with
NW-trending lineaments and, in part, were targeted by the Phase 1
drilling. Additional targets to the south of the current drilling
are interpreted from the TLALI alteration maps and the initial
lineament analysis.
Jackie - The Phase 1 prospecting and Phase 2 mapping programs
(see Press Releases - June 10th and June 26th 2021) identified a
distinctive andesite ridge with intense oxidation, silicification,
argillic alteration, and a notable vegetation-free zone. This
location was confirmed by the ASTER and LANDSAT 8 interpretation
though was limited to a focused area with ferric oxides, kaolinite,
silica and chlorite-epidote-carbonate. The oxide and silicate
alteration, was verified by aiSIRIS results of rock hyperspectral
analysis, represented oxidized argillic zones with low grade or
bleached metal values. Rock samples collected from the northern
area of the ridge also displayed intense replacement by zeolite,
kaolinite, alunite, montmorillonite, opaline silica, and muscovite
and contained the bulk of the anomalous gold and silver values.
None of this neighboring and significant alteration was recognized
by ASTER and LANDSAT 8 OLI given the coverage by vegetation during
the period of image collection. Compilation of the rock sample
hyperspectral data is pending and requisite for advancing the
alteration mapping of the Jackie property.
Figure 2. Distribution of clay and ferric oxide alteration
from LANDSAT 8 OLI data focused around vein and disseminated
mineralization targets, with outlined areas sourced from historical
SGM database, on the Diamante and El Mezquite properties.
Limited response on the Jackie property.
Diamante - Historical ground exploration on the Diamante 1 and 2
concessions identified mineralization accompanied by
silicification, and phyllic, argillic, advanced argillic
(quartz-alunite-pyrite) and propylitic (chlorite) zones, with
overprinting by iron oxide and oxyhydroxide (hematite, goethite,
and limonite) staining, jarosite and vuggy silica. The TLALI maps,
shown in Figures 2 and 3 for the LANDSAT 8 OLI and combined
LANDSAT/ASTER data, respectively, illustrate the spectral response
for silicification and argillic alteration, including generic clay,
alunite, pyrophyllite, kaolinite and silica, which are in part
coincident with known artisanal vein workings and disseminated gold
targets, such as the Southern Anomaly in Diamante 2. The areas of
alteration require verification by surface exploration as part of
the Phase 1 drill target definition program planned for Q4
2021.
Figure 3. Distribution of alunite, pyrophyllite, kaolinite
and silica from ASTER and overprinting ferric oxide alteration from
LANDSAT 8 OLI data focused on Diamante 2 and El Mezquite
identifying potential targets of advanced argillization and
silicification, with outlined areas sourced from historical SGM
database, on shaded topography.
Figure 4. Distribution of alunite, pyrophyllite, kaolinite
and silica from ASTER focused on Diamante 1 and El Mezquite
identifying potential targets of advanced argillization and
silicification, on shaded topography and regional geology,
primarily the Tarahumara Formation (teal color), principal host to
known mineralization.
Project Background
The 180-hectare ("ha") El Mezquite and 1,057-ha Diamante
Concessions are drill-ready precious metal (Au-Ag) projects,
located 10 and 5 kilometres respectively, from Tepoca and 165 km
southeast of Hermosillo, Mexico. Diamante 1 is situated adjacent to
the west of the El Mezquite project. Diamante 2 is located 700
metres south of Diamante 1. The grassroots 1,130-ha Jackie property
is located less than two kilometres south of our El Mezquite and
Diamante properties and directly adjacent to the west boundary of
Minera Alamos' Santana project.
The Properties are well situated in logistics for exploration,
adjacent to each other, and six to fifteen kilometres west and
northwest of the Minera Alamos' Nicho deposit in mine
development.
The Properties are easily accessible from Mexican Highway #16,
which transects Diamante 1 and El Mezquite, ranch trails and dry
riverbeds to Diamante 2, and dry riverbed access from the pueblo of
La Quema, west of Highway #117 to Jackie. High voltage power lines
positioned along with Highway #16.
The El Mezquite, Jackie, and Diamante projects are currently
subject to option agreements with Colibri, wherein SSE can earn 50%
of the gold and silver projects by meeting specific criteria over
periods of two to four years. El Mezquite and Jackie concessions
currently have hyperspectral assays pending detailed interpretation
from 2021 mapping and prospecting programs, and the Company
recently completed Phase 1 drilling at El Mezquite.
The Properties are located within the west-central portion of
the Sierra Madre Occidental Volcanic Complex within the prominent
northwest-trending "Sonora Gold Belt" of northern Mexico and
parallel to the well-known, precious metals-rich Mojave-Sonora
Megashear.
Several nearby large operating mines include Alamos Gold's Los
Mulatos gold mine and Agnico Eagle's La India gold mine located 50
and 58 kilometres to the northeast, respectively, Agnico's Pinos
Altos Mine, 100 kilometres southeast and Argonaut's La Colorada
Mine, 100 kilometres west. Exploration in the surrounding area is
very active, with adjacent and nearby properties held by Evrim,
Newmont, Garibaldi, Kootenay Silver, and Penoles.
Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director,
is the Company's internal Qualified Person for the El Mezquite,
Jackie and Diamante Projects and is responsible for approval of the
technical content of this press release within the meaning of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects ("N.I. 43-101"), under TSX guidelines.
About Strategic Consultants IGIS
Based in Chihuahua, Mexico, Strategic Consultants have been in
mineral exploration for over 30 years, having GIS and Remote
Sensing as powerful tools to search for mineral deposits. Strategic
Consultants developed an innovative cloud-based algorithm capable
of processing an ASTER image anywhere in the world, in a matter of
minutes, yielding up to twenty-five spectral signatures
representing the same amount of minerals, each in a separate ArcGIS
shapefile. This procedure allows to establish types of alteration,
a rock-mineral relationship or geological-mineral characteristic,
and helps to select specific areas of interest and objectives.
Major mining companies, such as Agnico-Eagle México and Redline
Minerals Inc., have used the algorithm for exploration in
brownfields and greenfields properties in México and the United
States.
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 is acquiring 100% interest in 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 recently signed an LOI to acquire
100% interest in three exploration properties in the Exploits
Subzone Gold Belt, located 15-40 kilometres from recent discoveries
by Sokoman Minerals Corp. and New Found Gold Corp., central
Newfoundland. Silver Spruce Resources Inc. continues to investigate
opportunities that Management has identified or that have been
presented to the Company for consideration.
Contact:
Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com
Michael Kinley, CEO
(902) 826-1579
mkinley@silverspruceresources.com
info@silverspruceresources.com
www.silverspruceresources.com
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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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