Corporate Summary
Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% interest in the Jackie Au project located <10 kilometres northwest from Minera Alamos' Nicho deposit in Sonora, Mexico and the Melchett Lake Zn-Au-Ag project in northern Ontario. The Company has an option to acquire 100% interest in the Pino de Plata Ag project located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
Pino de Plata
Pino de Plata is an epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua State in Mexico. The property consists of 397 hectares in four concessions containing a number of historic artisanal mine workings dating back to the Spanish Colonial era. The Company completed a 43-101 exploration assessment on the property in 2015 and based on high silver values in surface channel samples (>500 opt Ag) is pursuing a targeted exploration program which will include geophysics, geochemistry and a drilling program with thirty permitted sites on several discrete target types. Phase 1 drilling was recommended on eight targets were recommended for initial drill testing by twelve holes and include gossans in the Gossan zone, skarn/replacements at Santa Elena, the Terrero mine target, the la Perla, Santa Clara, Theodora and Sierpe veins and their associated alteration, and the newly defined Muro vein. The Company completed a LiDAR survey in April 2021 and continues to negotiate with the landowner for a comprehensive access agreement. The Company is ready to advance with an updated environmental report and subsequent maiden drilling program once land agreements are completed.
Melchett Lake
The Melchett Lake Zn-Au-Ag volcanogenic massive sulphide ("VMS") project is an advanced precious and base metal project in the Thunder Bay Mining District, northern Ontario, Canada. Map staking and acquisitions from vendors by Silver Spruce has increased the size of the Property from 2,124 hectares to the current 7,822 hectares and, of principal value to the Company, increased the coverage of the Melchett Lake mineralized horizons to a combined strike length of more than twenty (20) kilometres. The multi-kilometre strike length of the known areas of mineralization, depth potential indicated by the Maxwell modelling, broad intervals of mineralization, intense alteration profile similar to well-known polymetallic deposits, and presence of high-grade values of both precious metals and base metals warrant detailed exploration. The positive results for the recent metallurgical scoping program and ore mineralogy clearly provide added value to the Property. Though the current program was focused on oxidized samples from the Relf Lake surface trench, the data showed a relatively coarse size profile for pyrite and the key value sulphide minerals, sphalerite, chalcopyrite and galena, with rapid recovery to the flotation concentrates. The elevated silver and other minor elements, such as Bi, Cd and Te, carried along primarily with galena and sphalerite add to the recoverable metal optionality. Three year work permits for the 2026 campaign are being updated for prescribed activities which include line-cutting, Spartan Magnetotelluric (MT) survey and diamond drilling.
Jackie
The Jackie Au Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear. The 1,130-hectare Property is easily accessible from Hermosillo and heading south from Mexican Highway #16, and from Ciudad Obregón travelling north on Hwy. #17 with vehicles and pack teams along unpaved roads and trails. The Property is situated approximately six kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos. Jackie has seen very little structured exploration and the Company to date has carried out geological mapping, soil and rock geochemistry with hyperspectral analysis, QA/QC program development, ASTER imagery analysis, LiDAR and aerial photography and data compilation. The property is ready for a broad based target analysis and grid-based geological sampling with a focus on developing drill collars on the principal Au-Ag anomaly identified by rock sampling.