July 10, 2007
July 10, 2007, Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce the start of ground follow up on the 3,012 line km airborne radiometric / magnetic surveys carried out in 2006 on the Mount Benedict Properties, located in the eastern portion of the Central Mineral Belt in east central Labrador. The eight person field crew is based out of Postville and is utilizing helicopter support to access the claims.
A total of 76, low to moderate strength, airborne radiometric anomalies were selected for follow up by consultant Ted Urquhart of Santiago, Chile, in September 2006. Targets were selected on the basis of the 95th percentile of U/Th ratios, with U values a minimum of 14 cps.
The 1,024 claims in the Mount Benedict Properties, were acquired in 2006, by staking and option, to cover anomalous government lake sediment values ranging from 10 to 87 ppm uranium, against a background of approximately 5 ppm. Brinex and their joint venture partners carried out uranium exploration in the 1960s and 70s in the Benedict Mountains area using widely spaced radiometric surveys and some ground follow up. Brinex radiometric anomaly B-22, located on the staked ground, gave grab sample values from 200 to 400 ppm uranium and is described as a strongly sheared, hematite altered, agglomeritic felsic volcanic.
As a result of the location of an area of anomalous radioactivity, giving total count values > 10,000 cps, in the early stages of the follow up, the company has staked another 872 claims (21,800 ha, 218 km2) bringing the property position in the Mount Benedict project to 1,896 claims (47,400 ha, 474 km2). All the claims are owned 100% by Silver Spruce, subject to a 1% NSR payable to optionor Paul McNeill on production from 532 of the claims.
Exploration is continuing and results will be reported as they are received. Maps showing the selected airborne targets and the recent staking by the company are shown on the Silver Spruce website at www.silverspruceresources.com.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in the Central Mineral Belt (CMB) and other areas of potential in Labrador, Canada. With interests in over 10,500 claims totaling approximately 2,600 square kilometres, Silver Spruce is the one of the largest landholder in one of the world's premier emerging uranium districts. The large ground position, experienced partners, and strong financial backing, make Silver Spruce a leading uranium explorer in Labrador.
For Further Information Contact:
SILVER SPRUCE RESOURCES HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com
INVESTOR RELATIONS
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
A total of 76, low to moderate strength, airborne radiometric anomalies were selected for follow up by consultant Ted Urquhart of Santiago, Chile, in September 2006. Targets were selected on the basis of the 95th percentile of U/Th ratios, with U values a minimum of 14 cps.
The 1,024 claims in the Mount Benedict Properties, were acquired in 2006, by staking and option, to cover anomalous government lake sediment values ranging from 10 to 87 ppm uranium, against a background of approximately 5 ppm. Brinex and their joint venture partners carried out uranium exploration in the 1960s and 70s in the Benedict Mountains area using widely spaced radiometric surveys and some ground follow up. Brinex radiometric anomaly B-22, located on the staked ground, gave grab sample values from 200 to 400 ppm uranium and is described as a strongly sheared, hematite altered, agglomeritic felsic volcanic.
As a result of the location of an area of anomalous radioactivity, giving total count values > 10,000 cps, in the early stages of the follow up, the company has staked another 872 claims (21,800 ha, 218 km2) bringing the property position in the Mount Benedict project to 1,896 claims (47,400 ha, 474 km2). All the claims are owned 100% by Silver Spruce, subject to a 1% NSR payable to optionor Paul McNeill on production from 532 of the claims.
Exploration is continuing and results will be reported as they are received. Maps showing the selected airborne targets and the recent staking by the company are shown on the Silver Spruce website at www.silverspruceresources.com.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in the Central Mineral Belt (CMB) and other areas of potential in Labrador, Canada. With interests in over 10,500 claims totaling approximately 2,600 square kilometres, Silver Spruce is the one of the largest landholder in one of the world's premier emerging uranium districts. The large ground position, experienced partners, and strong financial backing, make Silver Spruce a leading uranium explorer in Labrador.
For Further Information Contact:
SILVER SPRUCE RESOURCES HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Keir Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 231
Toll Free: 1.866.684.4743 ext. 231
E-mail: keir@ascentacapital.com
Web: www.ascentacapital.com
INVESTOR RELATIONS
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
