Silver Spruce Engages Phase 1 Gold Grain in Till Sampling and Geochemistry Program at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador - Seite 2

Exploration Plan

The Company has staged plans to complete, with its receipt of exploration approvals from the Mineral Lands Division of the Government of Newfoundland and Labrador, regional till sampling for gold grain analysis and soil geochemistry, prospecting, airborne geophysics, QA/QC program development, ArcGIS geological and geophysical data compilation and as warranted by the Phase 1 results, submit additional permit applications to undertake a detailed geological mapping and sampling program, grid soil sampling and planning for our first exploration drill campaign during the summer of 2022. All aspects of the exploration program will be conducted with strict adherence to COVID-19 protocols for personal safety.

Foto: Accesswire

Figure 1. Map of the Mystery project claims, named from north to south, Marilyn, Till and Mystery, located only 20-50km south of Bishop's Falls, Newfoundland.

Foto: Accesswire

Figure 2. Map of the Mystery Lake claim block showing proposed wide-spaced Phase 1 till and B soil sampling locations. Hashed areas are third party claims.

Foto: Accesswire

Figure 3. Map of the Marilyn claim block showing proposed wide-spaced Phase 1 till and B soil sampling locations. The claims are transected from north to south by the Bay d'Espoir Highway.

Project Background

The 8,750-hectare project is located within the Exploits Subzone, an extensive area of mineral exploration activity and discoveries over the past two years. The Properties are well situated in terms of exploration logistics, located close to each other and 10-45 kilometres south by Bay d'Espoir Highway from Bishop's Falls, Newfoundland. The Properties are located <70 kilometres from the Gander International Airport and are easily accessible from major paved roads and local logging and bush roads and trails.

The region is structurally complex and located, in large part, between several major crustal lineaments. Numerous major to lesser sub-parallel features merge and bifurcate along strike and are transected by NW and EW-trending faults. These deep-seated structures, which juxtapose geological terranes over hundreds of kilometres, are key to the location and formation of orogenic gold deposits containing several million ounces of gold as reported by junior companies in the district.

The Properties have seen little structured exploration to date. Prospecting by the Vendor is the only exploration conducted during the past ten years. Silver Spruce expedited its initial site visit on the Properties during the week of August 23rd and received an independent positive initial report on the mineral and rock textures potentially related to shallow epithermal and/or orogenic vein-style mineralization. Silver Spruce recently verified sample locations for the historical assays and collected new rock samples. The results remain pending and will be reported in due course.