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Silver Spruce Signs Definitive Agreement to Acquire Interest in Diamante 1 and 2 Au-Ag Concessions, Sonora, Mexico
BEDFORD, NS / ACCESSWIRE / April 29, 2021 / Silver Spruce Resources, Inc. ("Silver Spruce" o...
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"Silver Spruce Signs Definitive Agreement to Acquire Interest in Diamante 1 and 2 Au-Ag Concessions, Sonora, MexicoBEDFORD, NS / ACCESSWIRE / April 29, 2021 / Silver Spruce Resources, Inc. (\"Silver Spruce\" or the \"Company\") (TSXV:SSE) (FRA:S6Q1) is pleased to announce the signing of a Definitive Agreement (\"DA\"), effective April 27, 2021, on the Diamante 1 and Diamante 2 concessions. Silver Spruce recently secured a Letter of Intent with Colibri Resource Corp. (TSXV:CBI) (\"Colibri\"), and its wholly-owned Mexican subsidiary, Yaque Minerales SA de CV (\"Yaque\"), to acquire up to 50% interest in four concessions comprising 1,057 hectares (see Press Releases - April 12 and April 26, 2021).\"We expedited our due diligence, validated our high level of interest and now have signed the DA to acquire an interest in Diamante,\" said Greg Davison, Silver Spruce VP Exploration and Director. \"With execution of the DA, Silver Spruce and our project partner, Yaque and Colibri, shall commence geological, spectral and LiDAR mapping, rock sampling and an environmental report for SEMARNAT approval and the permit necessary to engage the maiden 2,000 metre drilling program at Diamante.\"Figure 1. Diamante 1 and 2 Concession Location Map. Note adjacent El Mezquite and Jackie Concessions. Nicho mine development by Minera Alamos located 12 km SE of Diamante.The Diamante gold-silver (Au-Ag) project (\"Diamante\" or the Property\") is a drill-ready precious metal project located 5 km northwest of the town of Tepoca, and 165 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico.Diamante 1 is situated adjacent to the west boundary of Silver Spruce's 180-ha El Mezquite project. Diamante 2, 700 metres south of Diamante 1, is located 1.6 kilometres northwest of the Company's 1,130-ha Jackie project (Figure 1). The acquisition nearly doubles the Company's land holdings to 2,367 hectares.Silver Spruce engaged a geological team to Diamante to verify the location of known mineralization, collect a photographic record of the geology, topography and vegetation, and carry out preliminary rock sampling.The assays of specific interest from rock samples collected at five of the targets (Calton, El Cumbro, El Cazo-La Olla, La Prieta and El Chon) are reported below in Table 1, and includes channel and grab samples from the artisanal workings.Tab...