News Feed Item

Silver Spruce Provides Updates on Preparations for Pino de Plata Project Maiden Drill Program

BRIDGEWATER, NOVA SCOTIA -- (Marketwired) -- 10/19/16 -- Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) ("Silver Spruce" or the "Company") is pleased to provide updates on the progress to conduct the first drill program at its 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 following actions have been accomplished to date:

--  Drill hole locations have been pinpointed and marked on site,
--  Drilling company bids were received and analyzed; selected company
    formal contract to be executed,
--  Environmental engineers have toured the site and completed necessary
    field work required to submit "Informe Preventivo", environmental
    declaration for any impact resulting from the drill program,
--  Second semester 2016 "derechos" (mining taxes) have been paid in full.

"Although we are anxious to commence drilling at Pino de Plata, we are also pleased with the progress being made to prudently initiate serious exploration efforts while minimizing or eliminating any potential environmental and permitting liabilities in the future," stated Dr. Brian Penney, Chairman. "We are taking proactive steps now to ensure that safe and efficient exploration and development programs can be conducted without interference or unanticipated regulatory delays."

Drill Hole Locations

As previously reported in August, Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, led the field team to successfully pinpoint the proposed drill hole locations and map the new road access for the upcoming maiden drill program at the project. The team also completed onsite tours with representatives of three drilling companies that are submitting bids for the drilling contract. This first ever drill program at the project is based on recommendations contained in the NI 43-101 report, which is available on our website at www.silverspruceresources.com and is filed on www.sedar.com.

Drilling Company Selected

In September, three formal bids were received from the drill companies that toured the project in August. The selection process identified Major Drilling de Mexico as the preferred drilling contractor to efficiently conduct the 1,000-1,500 metre reverse circulation program. The selection was based on favorable pricing and reduced footprint requirements for drilling equipment and new pad construction. Drilling will commence upon receipt of required approvals.

Environmental Declaration Statement

Also in September, State and Federally certified environmental engineers toured the project site to analyze the flora and fauna for existence of endangered species and to assess the impact of the proposed drill program. Although Company representatives were initially advised that an Informe Preventivo was not required on private property, recent changes to the environmental protection laws in Mexico now make this a required filing. The completed Informe Preventivo declaration will be filed with the appropriate state and federal authorities upon its completion, after which the drill program may commence.

Additional Opportunities Examined

In late September and early October, Company representatives also conducted several field examinations at submittal projects in the surrounding areas to investigate additional opportunities for Silver Spruce in this prolifically mineralized and underexplored region of the Sierra Madre Occidental. Assays of samples taken at these submittal projects are in process, and any significant results will be analyzed in their geologic context to determine if the said projects warrant additional interest by the Company.

About Pino de Plata

The 397 hectare Pino de Plata Ag-Pb-Zn-Cu-Au project is located approximately fifteen kilometres from Coeur Mining Inc.'s Palmarejo open pit and underground operations. Although the Pino de Plata project has supported small scale historical production of high-grade mineralization from numerous areas, it had never been systematically explored and has had no drilling.

Ninety-two samples were taken during the NI 43-101 field examination and show the examined project area to host widespread intrusive epithermal mineralization at surface with silver values, on average, of greater than 50 grams per tonne (g/t), that is 1.6 ounces per tonne (opt), over an area of more than 1 square km (greater than 100 Ha). Within the area examined, specific targets were sampled with silver (Ag) assays of up to 557 g/t or 17.9 opt in outcrop.

Three types of mineralization were identified in the maiden NI 43-101 report: disseminated epithermal mineralization in igneous (intrusive) rock, carbonate replacement mineralization in sedimentary limestone/marble and sandstone/hornfels and several areas of significant outcropping vein mineralization. Each of the host areas identified in the 43-101 technical report provide immediate drill targets with open pit potential.

The Company intends to initiate a 1,000 - 1,500 metre reverse circulation drill program to test these defined targets where high grades of mineralization were sampled at surface.

Qualified Person

Mr. Leonard J. Karr, professional geologist and a Qualified Person, under TSX guidelines, is the author of the Company's NI 43-101 report on the Pino de Plata project, dated 7 July 2015, and is responsible for the technical content of this press release.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a well-positioned Canadian junior exploration company pursuing development of the Pino de Plata epithermal silver/ base metal/ gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua State in Mexico. The company has recently completed an exploration assessment on the property. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...