November 14, 2007
Highlights
- Second drill now on site to assist with the resource definition at the Two Time Zone
- Trenching / sampling completed on surface expression of Two Time Zone
November 14, 2007 - Bridgewater, NS/Vancouver, BC - Silver Spruce Resources Inc. (TSXV: SSE) and Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that a second drill has been mobilized by contractor Lantech Drilling to assist with the resource definition drilling at the Two Time Zone. The two drills are carrying out infill drilling in preparation for a 43-101 compliant resource estimate to be prepared by Scott Wilson Roscoe Postle Associates Inc. (SWRPA) early in 2008. An 18-hole drill program, totaling 2,800 meters, is planned for completion by December 15, 2007.
Drilling will resume the second week of January 2008. At that time, one drill will be primarily utilized to evaluate the extensions of the Two Time Zone to depth and on strike to the north and south. The second drill will focus on the newly discovered Firestone Zone (see news release dated October 17, 2007) and other targets on the CMBNW property.
Trenching and sampling of the surface expression of the Two Time Zone, as recommended by SWRPA, was completed prior to the onset of winter conditions. A total of five trenches, varying in length from 30 to 71 meters, tested the zone over a surface strike length of 200 meters on the northern portion of the zone; thick overburden prevented trenching over the southern half of the zone. All trenches intersected wide sections of brecciated monzodiorite carrying radioactivity related to uranium mineralization that was similar in strength to drill holes from the area. A total of 127, one-meter channel samples were sawed from exposed bedrock and sent for analyses. Results are pending.
The Two Time Zone has been traced over a strike length of approximately 475 metres, from 2+75 N to 2+00 S, and remains open to the north and south along strike and to depth. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite, carbonate, hematite and albite alteration. The orientation of the mineralization appears to be near vertical to steeply dipping.
All other field work on the CMB properties has stopped due to winter weather conditions and will resume in the spring. Results of many of the rock and soil samples remain pending and will be reported as they are received.
"We continue to be impressed with the strength of the Two Time uranium zone," stated Lloyd Hillier, President and CEO of Silver Spruce. "We look forward to the definition of a resource at the Two Time Zone that will establish Silver Spruce and Universal Uranium as companies with significant uranium resources. We intend to drill through the winter taking advantage of skidoos for access, which should keep our drilling costs down".
Rock, core and soil sample analyses are being performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory. Activation will use the delayed neutron activation technique (DNC), which gives accurate results for samples carrying up to 1.0% uranium and an ICP technique that gives good results for most of the other elements, including Thorium. A quality assurance/quality control (QA/QC) program has been implemented by the Silver Spruce-Universal Uranium joint venture to increase confidence in the results generated. The QA/QC program is described on the companies' websites together with plan maps and sections for the drilling on the Two Time Zone.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. Experienced partners and strong financial backing, make Silver Spruce a leading uranium explorer in Canada.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSXV: UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., a Qualified Person (QP) as defined in National Instrument 43-101.
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
UNIVERSAL URANIUM
HEAD OFFICE
Ronald Atlas, Chairman of the Board
Phone: 604.662.3903
Fax: 604.662.3904
INVESTOR RELATIONS
Bill Galine / Taylor Little, Corporate Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.
- Second drill now on site to assist with the resource definition at the Two Time Zone
- Trenching / sampling completed on surface expression of Two Time Zone
November 14, 2007 - Bridgewater, NS/Vancouver, BC - Silver Spruce Resources Inc. (TSXV: SSE) and Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that a second drill has been mobilized by contractor Lantech Drilling to assist with the resource definition drilling at the Two Time Zone. The two drills are carrying out infill drilling in preparation for a 43-101 compliant resource estimate to be prepared by Scott Wilson Roscoe Postle Associates Inc. (SWRPA) early in 2008. An 18-hole drill program, totaling 2,800 meters, is planned for completion by December 15, 2007.
Drilling will resume the second week of January 2008. At that time, one drill will be primarily utilized to evaluate the extensions of the Two Time Zone to depth and on strike to the north and south. The second drill will focus on the newly discovered Firestone Zone (see news release dated October 17, 2007) and other targets on the CMBNW property.
Trenching and sampling of the surface expression of the Two Time Zone, as recommended by SWRPA, was completed prior to the onset of winter conditions. A total of five trenches, varying in length from 30 to 71 meters, tested the zone over a surface strike length of 200 meters on the northern portion of the zone; thick overburden prevented trenching over the southern half of the zone. All trenches intersected wide sections of brecciated monzodiorite carrying radioactivity related to uranium mineralization that was similar in strength to drill holes from the area. A total of 127, one-meter channel samples were sawed from exposed bedrock and sent for analyses. Results are pending.
The Two Time Zone has been traced over a strike length of approximately 475 metres, from 2+75 N to 2+00 S, and remains open to the north and south along strike and to depth. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite, carbonate, hematite and albite alteration. The orientation of the mineralization appears to be near vertical to steeply dipping.
All other field work on the CMB properties has stopped due to winter weather conditions and will resume in the spring. Results of many of the rock and soil samples remain pending and will be reported as they are received.
"We continue to be impressed with the strength of the Two Time uranium zone," stated Lloyd Hillier, President and CEO of Silver Spruce. "We look forward to the definition of a resource at the Two Time Zone that will establish Silver Spruce and Universal Uranium as companies with significant uranium resources. We intend to drill through the winter taking advantage of skidoos for access, which should keep our drilling costs down".
Rock, core and soil sample analyses are being performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory. Activation will use the delayed neutron activation technique (DNC), which gives accurate results for samples carrying up to 1.0% uranium and an ICP technique that gives good results for most of the other elements, including Thorium. A quality assurance/quality control (QA/QC) program has been implemented by the Silver Spruce-Universal Uranium joint venture to increase confidence in the results generated. The QA/QC program is described on the companies' websites together with plan maps and sections for the drilling on the Two Time Zone.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. Experienced partners and strong financial backing, make Silver Spruce a leading uranium explorer in Canada.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSXV: UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., a Qualified Person (QP) as defined in National Instrument 43-101.
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
UNIVERSAL URANIUM
HEAD OFFICE
Ronald Atlas, Chairman of the Board
Phone: 604.662.3903
Fax: 604.662.3904
INVESTOR RELATIONS
Bill Galine / Taylor Little, Corporate Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.