Silver Spruce
Mobilizes Phase 1 Exploration on
Jackie Au-Ag Property, Sonora, Mexico
January
18,
2021
- Bedford,
NS - InvestorsHub NewsWire - (TSXV:SSE) -
Silver Spruce Resources Inc.
("Silver
Spruce"
or
the "Company")
is pleased
to announce
mobilization and
commencement
of its Phase 1 program
on the 1,130-hectare Jackie Au-Ag property,
an
early-stage
precious metal project located 175
km
east
of
Hermosillo,
Sonora, Mexico.
The Company signed a Definitive Agreement (Press release November
30, 2020) with Colibri Resource
Corp. to
acquire 50% interest in
the Jackie
Project
(the "Property").
"Silver
Spruce
now has
experienced boots on the ground at
our
large grassroots property
in a very productive
region
only two kilometres from our El Mezquite property and adjacent to
Minera Alamos' Santana project. We have maintained technical
continuity in our Sonora-based geological team which started
working this
past
week on the Jackie property,"
said Greg Davison, Silver Spruce VP Exploration. "Jackie has
seen very little structured exploration and we look forward to
developing pristine targets for the Company in
a strong gold and silver market."
Phase 1 Exploration Program
The Company,
with a four-person team (two
senior geologists and two samplers)
and
all
necessary logistical support, is undertaking a first pass
exploration program, including prospecting, rock, soil and stream
silt/sand sampling, initial geological mapping of areas exhibiting
significant alteration or mineralization and collection of
structural data. The team will focus on identifying and
sampling readily accessible areas of interest, confirming areas for
future
detailed mapping
and providing a geochemical baseline map for vectoring toward
potential Phase 2 targets. Phase 1 will
have a planned duration of three weeks after
which the team is
expected to continue the mapping program at El Mezquite.
All aspects of
the exploration program will be conducted with strict adherence to
COVID-19 protocols for personal safety.
The
work
program will include a QA/QC program with standards, blanks and
duplicates to accompany the in-house programs at ALS Global
("ALS"). Samples will be delivered to the ALS sample
preparation facility in Hermosillo, Sonora,
Mexico.
Splits will be
sent to ALS in North Vancouver, BC for gold by fire assay and to
ALS in Reno, NV for hyperspectral analysis using the Terraspec 4
and aiSIRIS identification of the principal silicate, sulphate,
carbonate and hydrous oxide species, namely the alteration minerals
and their relative intensity. Multi-element analysis will be
carried out at ALS in North Vancouver on select samples as results
warrant from the distribution of the gold values and coincident
spatial anomalies with alteration mapping.
In parallel, the
Company has retained GeoDigital Imaging de Mexico S.A. de C.V.
("GeoDigital") to carry out GIS data compilation and preparation of
digital base maps for geographical, geological, geochemical and
geophysical information. 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.
Project Geology, Location and Access
The
Jackie
Project is
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
Property is situated
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.
The
1,130-hectare Property is easily accessible from Hermosillo
to
the Tepoca area and heading
south from Mexican Highway #16 or west from
Highway #117,
or
from
Ciudad Obregón travelling northeast
on
Hwy. #117
and
west to the pueblo of La Quema with vehicles
and then
pack
teams along unpaved roads and trails. The southerly road from
Hwy #16 traverses through the centre of the known gold
mineralization at El Mezquite (pictured
above) only
2
km north of
Jackie. High voltage power lines are positioned
on
Highway
#16.
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
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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