Receipt Of Permits And Drill Mobilisation For Tote Brook Target

BEDFORD, NS - Silver Spruce Resources, Inc. announced the receipt of permits and drill mobilization for the Tote Brook target at the 602-claim Mystery Au project.

”Our drill permit was approved by the Mineral Lands Division of the Department of Industry, Energy and Technology (IET) and access for the drilling was granted by the Ministry of Transport. The Company recently signed a contract with Trust Drilling of Springdale, NL and their rig was mobilized to the Tote Brook target with diamond drilling scheduled to start immediately upon arrival", said Greg Davison, VP Exploration and Director. "A second drill target in the southern claim showed elevated Au, As and Sb in exposed quartz and chalcedony veins will follow at the earliest opportunity.

We met our goal for the summer programs completing rock and soil sampling, structural mapping and regional till sampling with a primary view to drill target generation in Q4 2023. The Company is excited to begin a 4-hole, 1,000-1,500metre program to target the downdip projection of the surface vein exposures at Tote Brook and look forward to receiving promising core samples. Sawn core will be sampled and sent to Eastern Analytical in Springdale, NL for precious metal assays. Core photographs and interval descriptions will be provided in due course."

Four holes (two scissor sections) directed to the north and south are proposed from the collars TB01 and TB02, respectively, to intersect the down-dip projection of the veins. Trust Drilling will supply a new Duralite Rig(DL1400), moveable with tracks, 5-Ton excavator, Marooka track vehicle and all the necessary supplies associated for NQ core drilling using in-house logistics support.

The Tote Brook prospect is located 22km south of the intersection between Bay d'Espoir Highway and the Trans-Canada Highway. Phase 1 drill targeting on Tote Creek is focused where structural geological mapping on the ground and desktop analysis of the property geophysics identified a coincident E-W topographic and magnetic lineament in the Badger Group and western contact of the Mount Peyton Intrusion (MPIS) Surface exposures of steeply south-dipping, multi-stage quartz-carbonate veins and breccias with silicification, carbonatization and vuggy to drusy quartz and laminated chalcedonic textures exposed along the banks of Tote Brook.

The east-northeast zone of brecciation is 8-10m wide and parallel to Tote Brook. Along the north bank of the brook a vein of massive, bladed calcite is exposed for approximately 50m along a similar orientation to the quartz veins. Locally-sourced angular boulders of quartz vein material have been discovered by prospectors above the calcite vein. The hydrothermal system covers an estimated 55m width on surface.

Prospecting of the new Marilyn claims identified localized float and outcropping rock samples showing intense silicification with iron carbonate accompanied by multi-phase siliceous veins and breccias, and minor to trace arsenopyrite, pyrite, chalcopyrite and malachite. Gold to 1035ppb, arsenic to >1000ppm and antimony to 346ppm are typical to the coincident precious metals and pathfinder elements of the regional orogenic mineralizing systems.

The eastern side of the property is mostly underlain bymafic intrusions of the MPIS. The western side of the property is mapped as a narrow window of Ordo-Silurian age Badger greywacke overlain by extensive Botwood metasediments. The erosional pattern suggests a westerly dip though exposures are very limited by a veneer of glacial till. The regional and our 2022 high-resolution airborne magnetic survey is strongly influenced by the sharp, northerly-trending boundary of the MPIS with local decreases inmagnetic intensity interpreted as embayments by the overlying siliciclastic rocks of the Badger Group.

The Properties comprise a large, virtually untested area with many outcrop showings and mineralized float, prospective geology, and regional and second order geophysical structures within and adjacent to our holdings. The Company has staged plans to continue regional till sampling for gold grain analysis and soil geochemistry, regional and property scale airborne geophysical compilation and interpretation, prospecting, ArcGIS geological and geophysical data compilation and grid soil sampling with a tighter grid spacing. Further wide-spaced sampling also is proposed for both the currently incomplete areas near anomalous sample results and infill sampling for several targets of the claim package.

Contracting for detailed compilation and interpretation of the regional geophysics and Property airborne data was announced recently (see Press Release of November 9, 2023). Mineral textures and chemistry point to high-level epizonal veins though more evaluation of the spatial position within the system is clearly warranted. Further work to isolate and orient the bedrock source and define Au-bearing drill targets in the southern Marilyn claim also will be a focus of the follow-up field program.