May 6, 2010 (TheNewswire.ca) --
Highlights
- rock sample values to 7.9% total rare earth elements plus yttrium, located on the Trans Labrador Highway
- 2nd highest heavy rare earth element lake sediment on record in Labrador acquired, located 30 km from road
May 6, 2010 - Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that the company has acquired, by staking, two grass roots properties with rare earth element (REE) potential 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 Red Wine Mountains, approximately 30 km from a road around the Churchill Reservoir. The properties are 100% owned by Silver Spruce.
Pope's Hill
The property consists of 62 claims (1,550 ha) located in the Pope's Hill area along the TLH. The area was located during prospecting along the TLH using a scintillometer by the President of Silver Spruce, Lloyd Hillier, in 2006, while exploring for uranium.
Nineteen grab samples, which were analyzed for uranium, thorium and rare earth elements gave strongly elevated total rare earth element (TREE) plus yttrium values in three samples. All samples were located using a total count scintillometer which detects uranium, thorium and potassium as counts per second (cps), and were specifically targeted for uranium with samples taken where the highest scintillometer values were encountered. The 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. Five samples gave uranium values > 10 ppm with the three highest at 151, 94 and 69 ppm U. Some coincidence or rare earth elements with the higher U values is noted.
The samples were taken in June by Lloyd Hillier (P01 to 07) and July, 2006 by Lloyd Hillier and Peter Dimmell (PO-5 to 16) from road cuts along the TLH and in a quarry used for road material for the TLH (see pictures on website). The rock units are granitic gneisses of late Paleoproterozoic age, with some pegmatites. The minerals carrying the REEs are unknown at this time and no known REE exploration has been carried out in this area. A summary table of the sample results is given on the following page.
Planned work includes detailed sampling of the rock units to better define the REE bearing units in the area plus a possible radiometric / magnetic survey to define the structures and lithological units. This work will be carried out in the summer of 2010.
RWM
The 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 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 rubidium, 48.9 ppm samarium, 12 ppm terbium, 14.5 ppm uranium and 62 ppm ytterbium plus elevated florine. Europium is background as are thorium and vanadium. Another lake sediment sample in the same area is also moderately anomalous in rare earth elements.
No work has been carried out in this area which was just staked. Planned work includes prospecting using scintillometers and sampling of the rock units in the area which will be carried out in the summer of 2010. Further evaluation is dependent upon results.
Sample Y La Ce Pr Nd Sm Eu Gd Tb Dy Ho Er Tm Yb Lu TREE + Y Nb Zr
ID ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm % ppm ppm
P01 12 170 330 30 93 12 1 5 1 3 1 1 0 1 0 0.1 4 186
P02 9 70 141 14 44 6 1 3 1 2 0 1 0 1 0 0 2 236
P03 14 402 631 54 164 16 4 6 1 3 0 1 0 1 0 0.1 1 19
P04 26 242 455 42 136 18 4 9 1 5 1 2 0 2 0 0.1 13 158
P05 78 525 1,063 107 367 53 5 32 4 19 3 7 1 5 1 0.2 43 1481
P06 1,854 10,460 21,469 1,991 6,371 892 25 642 102 431 80 178 24 127 19 4.5 2221 4651
P07 21 208 366 31 95 12 3 5 1 4 1 2 0 2 0 0.1 33 1774
PO-5 6,574 13,927 37,027 3,965 10,000 2,278 59 1,960 332 1,494 263 639 81 378 55 7.9 2006 594
PO-6 351 691 1,576 169 605 94 6 84 14 77 15 38 5 28 4 0.4 212 1615
PO-7 80 145 350 38 143 24 3 22 4 20 4 9 1 8 1 0.1 27 905
PO-8 373 1,273 3,327 362 1,294 180 8 135 21 96 17 40 5 29 4 0.7 186 1374
PO-9 204 79 204 24 95 20 3 24 6 40 9 30 5 31 4 0.1 472 2236
PO-10 69 52 144 19 92 19 5 20 3 14 2 6 1 4 1 0 15 99
PO-11 115 132 342 42 168 28 6 26 4 22 4 12 2 10 1 0.1 79 749
PO-12 95 175 425 49 188 28 6 23 3 19 3 10 1 8 1 0.1 104 859
PO-13 18 57 135 13 47 7 2 5 1 4 1 2 0 2 0 0 11 671
PO-14 14 80 225 27 97 12 3 7 1 3 1 1 0 1 0 0 51 896
PO-15 17 425 839 75 218 19 4 7 1 4 1 1 0 1 0 0.2 8 277
PO-16 109 2,655 5,239 457 1,358 110 20 57 6 23 3 8 1 6 1 1 11 56
Avg. crustal abundance 30 30 60 7 25 5 1 4 0.7 3.5 0.8 2.3 0.3 2.2 0.4 17 135
Pope's Hill Rock Sample Results
LREEs HREEs
Note: results reported to nearest whole value
Compilation maps showing the property locations, plus pictures of the Pope's Hill area can be viewed on the company website www.silverspruceresources.com.
Analyses were carried out at the ACME Laboratories facility in Vancouver, BC after sample preparation at Eastern Analytical in Springdale, NL. The rock samples were analyzed by a REE package (Group 4B REE), which consists of a 0.2 g sample treated by a LiBO2 fusion followed by an ICPMS finish. No check sampling has been carried out.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company originally focused on uranium in the Central Mineral Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than 7,500 claims totaling more than 1,750 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. The company also has gold/silver projects in Mexico and the island of Newfoundland, making Silver Spruce a leading explorer in Canada and Mexico.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
SILVER SPRUCE RESOURCES
Head Office Investor Relations
Gordon Barnhill, CFO & Director Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 902.527.5700 Phone: 604.684.4743 ext. 243
Fax: 902.527.5711 Toll Free: 1.866.684.4743 ext. 243
E-mail: gbarnhill@silverspruceresources.com E-mail: hugh@ascentacapital.com
Web: www.silverspruceresources.com Web: www.ascentacapital.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.
The Corporation seeks Safe Harbour.
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