June 19, 2006
BRIDGEWATER, NS, CANADA -- June 19, 2006 - Silver Spruce Resources Inc. (TSXV: SSE) is pleased to announce that it has received significant results for gold in both lake bottom and soil sampling on the Mother Lode property, located on the Burin Peninsula in southeastern Newfoundland.
In the known mineralized area, a grid totaling 15.6 kilometres with a baseline at 050 degrees and cross lines at 50 metre line spacing was cut extending to the north and south along trend over three kilometres at 200 metre line spacing. Soil samples were taken at 25 metre intervals on all lines. A total of 465, mainly B horizon samples, were taken with 29 samples found to be anomalious in gold with values from 20 ppb (parts per billion) to 3,931 ppb. Eleven samples were strongly anomalous with values greater than 100 ppb gold. The two highest values were unexplained single-site samples with values of 1,062 ppb and 3,931 ppb.
To the north and south of the mineralized area and grid, 132 lake sediment samples were taken. Thirteen (13) anomalous gold values were located, three greater than 10 ppb and the highest at 29 ppb. These remain unexplained.
Follow up prospecting and geological mapping is ongoing while trenching, mapping and sampling is planned in the area of the significant soil anomalies and the known mineralization.
The lake bottom samples were analysed by neutron activation for gold and 34 elements at ACTLabs in Ancaster, ON using their 1D Enh INAA (INAAGEO) technique and are directly comparable to the government lake sediment values for the area. The soil samples were analyzed for gold using a fire assay (1/2 assay tonne sample) and atomic absorption finish and another 11 elements using ICP-11 at Eastern Analytical Laboratories in Springdale, NL.
The company also announces that Fugro Airborne surveys are in the process of mobilizing their equipment to Labrador to begin the nearly 16,000 line km airborne radiometric / magnetic survey announced in April covering the companies uranium targets in Labrador. The survey will begin once the equipment has been installed and tested and weather permits, anticipated by late June to early July.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior mining exploration company primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 5,000 claims totaling more than 1,250 square kilometres, Silver Spruce is the second largest land holder in one of the world's premier emerging uranium districts. In the 12 months commencing summer 2006, Silver Spruce is planning a large scale exploration program on its CMB and area properties at a cost of more than C$2 million. With experienced development partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer.
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.
On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.
FOR FURTHER INFORMATION, CONTACT:
HEAD OFFICE:
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@sse-tsx.com
Web: www.sse-tsx.com
INVESTOR RELATIONS:
Francis Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 28
Toll Free: 1.866.684.4743 ext. 28
E-mail: francis@ascentacapital.com
Web: www.ascentacapital.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
In the known mineralized area, a grid totaling 15.6 kilometres with a baseline at 050 degrees and cross lines at 50 metre line spacing was cut extending to the north and south along trend over three kilometres at 200 metre line spacing. Soil samples were taken at 25 metre intervals on all lines. A total of 465, mainly B horizon samples, were taken with 29 samples found to be anomalious in gold with values from 20 ppb (parts per billion) to 3,931 ppb. Eleven samples were strongly anomalous with values greater than 100 ppb gold. The two highest values were unexplained single-site samples with values of 1,062 ppb and 3,931 ppb.
To the north and south of the mineralized area and grid, 132 lake sediment samples were taken. Thirteen (13) anomalous gold values were located, three greater than 10 ppb and the highest at 29 ppb. These remain unexplained.
Follow up prospecting and geological mapping is ongoing while trenching, mapping and sampling is planned in the area of the significant soil anomalies and the known mineralization.
The lake bottom samples were analysed by neutron activation for gold and 34 elements at ACTLabs in Ancaster, ON using their 1D Enh INAA (INAAGEO) technique and are directly comparable to the government lake sediment values for the area. The soil samples were analyzed for gold using a fire assay (1/2 assay tonne sample) and atomic absorption finish and another 11 elements using ICP-11 at Eastern Analytical Laboratories in Springdale, NL.
The company also announces that Fugro Airborne surveys are in the process of mobilizing their equipment to Labrador to begin the nearly 16,000 line km airborne radiometric / magnetic survey announced in April covering the companies uranium targets in Labrador. The survey will begin once the equipment has been installed and tested and weather permits, anticipated by late June to early July.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior mining exploration company primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With over 5,000 claims totaling more than 1,250 square kilometres, Silver Spruce is the second largest land holder in one of the world's premier emerging uranium districts. In the 12 months commencing summer 2006, Silver Spruce is planning a large scale exploration program on its CMB and area properties at a cost of more than C$2 million. With experienced development partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer.
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.
On behalf of the Board of Directors, Gordon Barnhill, CFO and Director.
FOR FURTHER INFORMATION, CONTACT:
HEAD OFFICE:
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@sse-tsx.com
Web: www.sse-tsx.com
INVESTOR RELATIONS:
Francis Reynolds, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 28
Toll Free: 1.866.684.4743 ext. 28
E-mail: francis@ascentacapital.com
Web: www.ascentacapital.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.