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Silver Spruce Reports on Activity on Claims with REE potential in Labrador
Silver Spruce Reports on Activity on Claims with REE potential in Labrador
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"\nSilver Spruce Reports on Activity on Claims with REE potential in Labrador\n\n\n Jun. 22, 2010 (TheNewswire.ca) -- Highlights:-Confidentiality agreement signed with Rare Earth Metals Inc. (OOTC:RAREF) (RA) for Pope's Hill and RWM properties- Due diligence work including ground work and airborne surveys to be carried out by RA in June / July- Results pending for Lanthanum enriched rock samples from Straits propertyJune 22, 2010 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that the company has signed a confidentiality agreement (CA) with Rare Earth Metals Inc. (TSXV:RA) for due diligence and possible option on the Pope's Hill and RWM rare earth element (REE) properties in Labrador. The Pope's Hill property lies on the Trans Labrador Highway (TLH), approximately 100 km to the west of Happy Valley - Goose Bay, while the RWM, which covers the second highest heavy rare earth element (HREE) lake sediment value in Labrador on record, is located in the southern Red Wine Mountains, approximately 30 km from a road to the east of the Churchill Reservoir. The properties are 100% owned by Silver Spruce. The acquisition of these properties was announced in a News release on May 6, 2010.Pope's Hill (PH)The property consists of 62 claims (1,550 ha) located in the Pope's Hill area along the Trans Labrador Highway (TLH). Rock samples gave values up to 0.46% zirconium, 0.22% niobium, and 7.9% (TREE + yttrium) with HREEs up to 15% of the total rare-earth component. Three samples gave values > 1% (TREE + yttrium), including two (2) samples > 5%. Samples anomalous in REEs also showed elevated thorium values with the highest thorium and REE values coincident. The rock units are granitic gneisses of late Paleoproterozoic age, with some pegmatites.RA is planning to carry out a due diligence property visit and sampling program during the early part of July.RWMThe property consists of 32 claims (800 ha) and covers the second highest heavy rare earth element value, > 80 ppm HREE (includes europium, terbium, ytterbium and lutetium), in the government database for Labrador. The property lies in the southern Red Wine Mountains, approximately 30 km to the east of a road which provides access to the Churchill Reservoir area. The highly anomalous sample includes 210 ppm cerium, 240 ppm lanthanum, 11 ppm lutetium, 18 ppm ru...