Silver Spruce Signs Contract with
Quantec Geoscience for SPARTAN MT Ground Geophysical Survey on
Melchett Lake VMS
January 6, 2021 - Bedford, NS - InvestorsHub NewsWire
(TSXV:SSE) - Silver Spruce Resources Inc. (the "Company")
is pleased to announce the signing of a geophysical services
contract with Quantec Geoscience ("Quantec") to conduct a SPARTAN
Magnetotelluric ("MT") Survey on its Melchett Lake Zn-Cu-Au-Ag
volcanogenic massive sulphide ("VMS") project, an advanced precious
and base metal project in the Thunder Bay Mining District, northern
Ontario, Canada (the "Property"). The Property lies 110 km north of
Geraldton and 60 km north of Nakina at 50°45' north latitude and
86°59' west longitude.
"We are excited to move forward with Quantec to perform a deep
penetrating ground geophysical survey over the Relf Lake target
area of the Property," said Greg Davison, Vice-President
Exploration and Director of Silver Spruce. "The target area, shown
below, has extensive soil and rock geochemical anomalies, known VMS
mineralization from surface to >500 metres depth, highly
favorable core alteration style and intensity, increasing Cu to Zn
with depth, and deep Maxwell modelled plates off-hole from two
downhole EM surveys. With personal and successful experience using
Quantec's IP and MT surveys to identify, and confirm by drilling,
high grade polymetallic deposits in Ontario, I am confident that
the new deep 2D and 3D data inversions will provide high quality
resistivity mapping and reinforce our vectoring to VMS
targets."
Quantec's SPARTAN MT system provides a unique and effective method
for obtaining deep resistivity over a variety of terrains. As
leaders in MT acquisition, with proven expertise spanning more than
20 years, Quantec provides surveys globally with safe acquisition
procedures, premium quality data and expert interpretation for
exploration and mine planning.
Quantec crews carry out SPARTAN MT surveys in Ontario providing
services under strictly adhered to the corporate and client
COVID-19 safety protocols.
The full MT survey will include a total of 150-180 deep search
geophysical soundings on 3.5 kilometre north-south lines with 250
metre spacing along and between lines over the area shown on the
Property map and Survey Grid image. The survey specification is
focused on data gathered from surface to 1500 metres depth.
The Company will initiate work on a cut grid for the survey as
site logistics are developed. The Quantec survey is booked for late
February to early March and is scheduled for four to six weeks to
complete the field activities.
SPARTAN MT is a robust full-tensor audio-magnetotelluric technology
that acquires high quality data in the 10 kHz to 0.001 Hz frequency
band. MT is a passive electromagnetic geophysical technique that
uses natural electric fields from lightning sources, solar flares
and ionospheric resonances that induce current flow in the ground
which may be used to image the earth's electrical resistivity
structure from surface to great depths.
MT data are processed and presented as resistivity and depth.
Both 2D and 3D inversions will be carried out on the data, which
may be correlated with various geological and structural features,
including conductive features which are of particular interest to
the Company at the Melchett Lake Property.
Property Highlights
The Property covers 4,320 hectares with VMS and Au targets in
tightly folded and moderate to steeply dipping Archean
metavolcanics as re-interpreted from 2002 Helicopter TEM and MAG
surveys and 2010 regional airborne magnetic survey. The Melchett
Lake belt contains several occurrences of polymetallic
Zn-Pb-Cu-Ag-Au VMS mineralization similar in several respects to
ore deposits exploited at Geco, Mattabi, and Winston Lake among
others.
Highlights of the prospective geology, alteration and
mineralization include a strike extent of more than 20 km, 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.
Surface exposures, as shown below with Fe-sphalerite (blackjack
or marmatite), contain 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%.
Other than two DDH SB holes noted above, only limited and shallow
historical exploration drilling was conducted in the Relf, Nakina,
Half Moon, Key Lake and Iron Lake areas on the Property and no
drilling was conducted to the north of the Nakina showings toward
the new claim group.
Increased alteration and anomalous metal values over large core
intervals (up to 245 metres in DDH SB-07-01 from 345-590 metres)
are accompanied by strong electromagnetic (BHTEM) off-hole
responses in the deepest intervals of the most recent two holes
completed during 2007 (DDH SB-07-01) and 2008 (DDH SB-08-02)
drilling. The richest Zn mineralization in core was reported from
DDH SB-08-02 and chalcopyrite occurred in stockwork-style veinlets
commonly reported underlying certain types of known VMS
deposits.
The deepest BHTEM Maxwell modelled plate, associated with these
heavily altered and mineralized quartz-sericite schists and
adjacent silica-rich metavolcanics in the Relf Zone, and which
appears to plunge or rake to the east-southeast, remains undrilled
to date.
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 <10
kilometres west from Minera Alamos's Nicho deposit. 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:
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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