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Pino de Plata Project Update And Plans For Maiden Drill Program


BRIDGWATER, NS - Silver Spruce Resources Inc. reported that its field crew has completed a successful site visit to the Pino de Plata project. The 397 hectare (Ha) 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 company has pinpointed the proposed drill hole locations and mapped the new road access for the upcoming maiden drill program at the project. Preparations for drill road and drill pad construction are underway and should be completed by the end of this month. The Company seeks to utilize local contractors, operators and labor, 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."
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 1880's. 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 (opt) 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.
The second high priority drill target is focussed 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 g/t (17.78 opt) 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.
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.