Silver Spruce Resources - SSE.V

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2 years 5 months ago #117228 by Gold Fever
Gold Fever replied the topic: Silver Spruce Resources - SSE.V
SILVER SPRUCE PROVIDES UPDATES ON PREPARATIONS FOR PINO DE PLATA PROJECT MAIDEN DRILL PROGRAM

Silver Spruce Resources Inc. has provided the following updates on the progress to conduct the first drill program at its 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.

The following actions have been accomplished to date:
• -- Drill hole locations have been pinpointed and marked on site,
• -- Drilling company bids were received and analyzed; selected company formal contract to be executed,
• -- Environmental engineers have toured the site and completed necessary field work required to submit "Informe Preventivo", environmental declaration for any impact resulting from the drill program,
• -- Second semester 2016 "derechos" (mining taxes) have been paid in full.

"Although we are anxious to commence drilling at Pino de Plata, we are also pleased with the progress being made to prudently initiate serious exploration efforts while minimizing or eliminating any potential environmental and permitting liabilities in the future," stated Dr. Brian Penney, Chairman. "We are taking proactive steps now to ensure that safe and efficient exploration and development programs can be conducted without interference or unanticipated regulatory delays."

Drill Hole Locations

As previously reported in August, Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, led the field team to successfully pinpoint the proposed drill hole locations and map the new road access for the upcoming maiden drill program at the project. The team also completed onsite 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 our website at www.silverspruceresources.com and is filed on www.sedar.com .

Drilling Company Selected

In September, three formal bids were received from the drill companies that toured the project in August. The selection process identified Major Drilling de Mexico as the preferred drilling contractor to efficiently conduct the 1,000-1,500 metre reverse circulation program. The selection was based on favorable pricing and reduced footprint requirements for drilling equipment and new pad construction. Drilling will commence upon receipt of required approvals.

Environmental Declaration Statement

Also in September, State and Federally certified environmental engineers toured the project site to analyze the flora and fauna for existence of endangered species and to assess the impact of the proposed drill program. Although Company representatives were initially advised that an Informe Preventivo was not required on private property, recent changes to the environmental protection laws in Mexico now make this a required filing. The completed Informe Preventivo declaration will be filed with the appropriate state and federal authorities upon its completion, after which the drill program may commence.

Additional Opportunities Examined

In late September and early October, Company representatives also conducted several field examinations at submittal projects in the surrounding areas to investigate additional opportunities for Silver Spruce in this prolifically mineralized and underexplored region of the Sierra Madre Occidental. Assays of samples taken at these submittal projects are in process, and any significant results will be analyzed in their geologic context to determine if the said projects warrant additional interest by the Company.

About Pino de Plata

The 397 hectare Pino de Plata Ag-Pb-Zn-Cu-Au project is located approximately fifteen 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 tonne (opt), over an area of more than 1 square km (greater than 100 Ha). Within the area examined, specific targets were sampled with silver (Ag) assays of up to 557 g/t or 17.9 opt 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 immediate drill targets with open pit potential.

The Company intends to initiate a 1,000 - 1,500 metre reverse circulation drill program to test these defined targets where high grades of mineralization were sampled at surface.

Qualified Person

Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, is the author of the Company's NI 43-101 report on the Pino de Plata project, dated 7 July 2015, and is responsible for the technical content of this press release.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing development of the Pino de Plata epithermal silver/ base metal/ gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua State in Mexico. The company has recently completed an exploration assessment on the property. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador.

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2 years 6 months ago #117143 by Mark
Mark replied the topic: Silver Spruce Resources - SSE.V
Anyone hear anything on, when drilling will start. I picked up a position and might add some more when drill results closer

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2 years 6 months ago #117136 by RonS
RonS replied the topic: Silver Spruce Resources - SSE.V
Junior silver miners are set to outperform not only major producers of the precious metal, but also all gold miners over the coming years to 2020, according to a new analysis from BMI Research.

www.mining.com/silver-miners-juniors-wil...&utm_campaign=digest

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2 years 7 months ago #117093 by Gold Fever
Gold Fever replied the topic: Silver Spruce Resources - SSE.V
Thanks,

It will be interesting to see what Pino de Plata produces after drilling.

Good luck everyone

I'm long for assays

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2 years 7 months ago #117087 by Dave
Dave replied the topic: Silver Spruce Resources - SSE.V
I did really well with Paramount (now Coeur), looks like this might be a repeat. Long and strong

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2 years 7 months ago - 2 years 7 months ago #117085 by Gold Fever
Gold Fever replied the topic: Silver Spruce Resources - SSE.V
Yes its does appear the market wants to move higher on SSE.V

I do like the 50-500 g/t silver grades assays & the proximity to Coeurs Palmejero Silver Mine.

SSE.V's prospects for a big discovery are strong.
Last Edit: 2 years 7 months ago by Gold Fever.

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2 years 7 months ago #117079 by GoldnBoy
GoldnBoy replied the topic: Silver Spruce Resources - SSE.V
Was looking at the stock chart this morning. Looks like it wants to break out higher. Maybe I will add a bit more if it does??

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2 years 7 months ago #117074 by RonS
RonS replied the topic: Silver Spruce Resources - SSE.V
There was already a topic for silver spruce. What I will probably do is wait a while and delete the old one, will put a message up there

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2 years 7 months ago #117072 by Gambler
Gambler replied the topic: Silver Spruce Resources - SSE.V
Agree, I own this one and looking forward for the drills to hit the property

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2 years 7 months ago #117069 by yanisofia
yanisofia replied the topic: Silver Spruce Resources - SSE.V
Exciting times for SSE.

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2 years 7 months ago #116919 by Gold Fever
Gold Fever created the topic: Silver Spruce Resources - SSE.V
PREPARES DRILL PROGRAM AT PINO DE PLATA
SAMPLES 557 g/t SILVER (over 17.9 ounces)



Silver Spruce Resources Inc.'s (SSE.V) 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."

El Terrero target area

The first high-priority drill target is El Terrero, a 2,000-square-metre area of disseminated epithermal mineralization in igneous (intrusive) rock, characterized by at least five adit portals and a significant tailings pile left by Spanish miners active there in the 1880s. During the preparation of the NI 43-101 report completed last year, surface samples in this area returned values as high as 557 grams per tonne (g/t) silver (Ag) or (over 17.9 ounces per tonne Ag), and these samples also returned highly anomalous values of gold (Au), lead (Pb), zinc (Zn) and copper (Cu). Up to six holes are planned in this area with planned depths up to 100 metres.

Theodora vein targets


The second high-priority drill target is focused on the veins in the Theodora through El Sierpe I and II areas, in which samples taken during the preparation of the NI 43-101 report returned values as high as 553 grams per tonne (17.78 ounces per ton) Ag, and these samples also returned anomalous values of gold (Au), lead (Pb), zinc (Zn) and copper (Cu). Up to three holes are planned in this area with planned depths up to 100 metres.

Santa Elena -- gossan target

The third high-priority target is the Santa Elena -- Gossan area which presents a viable target for replacement Ag-Pb-Zn-Cu deposits. The gossans are anomalous in Ag and base metals and this allows for the possibility of economic grades in the unweathered marble. Unoxidized replacement mineralization from the Santa Elena mine approaches 200 g/t Ag. This area has the potential for relatively shallow replacement mineralization over an area of over 20 square hectares. An enrichment layer may be encountered by drilling below the weathered surface of the outcropping and highly weathered gossan. Three to five holes are proposed to be drilled in this target area with planned depths of up to 100 m.

About Pino de Plata


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.

www.silverspruceresources.com

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