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 - Seite 3

Surface trenches, with Fe-sphalerite (blackjack or marmatite), contain locally high-grade lenses of Zn & Ag with variable Cu, Au and Pb, and historical gold grades to 28.8 g/t Au, silver grades to 560 g/t Ag and zinc grades to 19.1% (see Figure 3).

Foto: Accesswire

Figure 4. Deformed, coarse proximal or vent facies fragmental debris deposit near Colpitts Lake, east of the Relf Lake targets; garnet-amphibole (after chlorite) matrix with quartz-feldspar±garnet clasts.

The claims to the east and west of the core Relf and Nakina targets cover 11 kilometres of known extensions of the Melchett Lake mineralized horizons and include high potential VMS and Au targets located along sub-parallel isoclinal fold limbs offset by oblique, imbricate structural breaks interpreted from recently acquired exploration MAG, VLF and GEOTEM data. Only limited and shallow exploration drilling was conducted in the Key Lake area (west) and Iron Lake area (east).

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the Melchett Lake Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, 100% interest in the Mystery Au project near recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp. among others in the Exploits Subzone Gold Belt, Newfoundland and Labrador, 100% interest in the Pino de Plata Ag project located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico and up to 50% interest in Colibri Resource's Diamante Au-Ag project located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit in Sonora, Mexico. Silver Spruce recently signed a 50:50 joint venture agreement with Colibri on the nearby Jackie Au project. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.