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Silver Spruce Reports Acquisition of Extension Claims on the Popes Hill REE Property South Central Labrador
Silver Spruce Reports Acquisition of Extension Claims on the Popes Hill REE Property South Centra...
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"\nSilver Spruce Reports Acquisition of Extension Claims on the Popes Hill REE Property South Central Labrador\n\n\n Nov. 30, 2010 (TheNewswire.ca) -- Highlights:-491 claims (approx. 123 km2) acquired by staking to protect the on-strike extensions of the favourable geological units and La / Ce lake sediment anomalies - 50% ownershipNovember 30, 2010 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that it has acquired another 491 claims (approx. 123 km2) in five licences on the southwest and northeast extensions of the company's road accessible Pope's Hill (PH) rare earth element (REE) property in south central Labrador. The original PH property, as well as claims added in October, are 100% owned by Silver Spruce (News Releases, October 28, May 6, 2010), while the new extension claims, staked on November 6 and held in the name of Silver Spruce Resources Inc., have been acquired in a 50/50 deal with another company. A joint venture agreement for exploration on the properties is under discussion and will be announced when completed. The new claims lie along the extreme southwest extension, and the northeast extension of the PH REE trend and cover areas considered to be prospective for REE mineralization based on geology, geochemistry (lake bottom results - anomalous La and Ce) and structural features. No REE exploration has been carried out in the area.The original PH property, acquired by SSE in May 2010, consists of a core 62 claims (1,550 ha) located in the Pope's Hill area, approximately 100 km from Goose Bay along the paved portion of the Trans Labrador Highway (TLH). The claims were acquired to cover thorium and REE mineralization located in 2006 during uranium exploration. Values up to 7.9% total rare earth elements plus yttrium (TREE+Y) were located with three samples giving values > 1% including two samples > 5% TREE+Y (News Release May 6, 2010). The rock units are mapped as granitic to mafic gneisses of late Paleoproterozoic age, with some pegmatites. Linear monzonite bodies, possibly related to a major structure, lie just to the north and south of the mineralized area along the highway.The 1,297 claims (324 km2) acquired in late October (news release Oct. 28, 2010), extend 40 km northeast and 40 km southwest of the original showings, protect the on-strike extensions of the mineralized z...