Silver Spruce Announces Significant Staking of Base Metal and Gold Targets, Doubles Size of Melchett Lake Zn-Cu-Au-Ag Volcanogenic Massive Sulphide Project, Nakina, Ontario

BEDFORD, NS / ACCESSWIRE / December 13, 2023 / (TSXV:SSE) Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") is pleased to announce the acquisition by map staking of 6,377 hectares ("ha") of claims contiguous to the core Melchett Lake project ("Melchett" or the "Property"). Melchett now covers a total of 485 claims in one contiguous property (Figure 1).

"We are very excited to acquire a significant package of additional claims which effectively doubles our overall property coverage to 112 square kilometres (11,236 ha). These new claims follow to the east, west and north along and parallel to the principal structural trend and geological units," said Greg Davison, Silver Spruce Vice-President Exploration and Director. "The three new claim groups fall within the Area of Interest of the current Definitive Agreement and the Colpitts Lake group were acquired from the Vendor for staking costs."

Foto: Accesswire

Figure 1. Melchett Lake claims (outlined in red) show original Vendor claims surrounded by Silver Spruce staking, all of which was covered by 2021 and 2022 geophysical surveys. New staking by Silver Spruce on Key Lake and Relf North, and Vendor staking acquired for Colpitts Lake group.

The Melchett Lake Zn-Cu-Au-Ag volcanogenic massive sulphide ("VMS") project is an advanced precious and base metal property located in the Thunder Bay Mining District, northern Ontario, Canada (the "Property"). The Property lies 110 km north of Geraldton and 60 km north of Nakina.

"We continue to steadily advance our exploration program for gold, silver and polymetallic targets at Melchett Lake and were pleased to augment the claim package to cover known gold occurrences in the Colpitts Lake claims, and potential extensions to the known Zn-Au-Ag mineralization at Key Lake and Relf Lake North showings," said Greg Davison, Vice-President Exploration and Director of Silver Spruce. "We plan to expand our LiDAR data coverage, continue to compile the regional and property-wide geophysical data to extract structural features and integrate with historical EM anomalies vectoring to sulphide mineralization. The proposed field program would include line-cutting followed by the Quantec Geoscience ("Quantec") deep-penetrating SPARTAN Magnetotelluric ("MT") survey, and targeted ground geological surveys in areas with known geochemical alteration and outcropping mineralization (Figure 2)."