BEDFORD, NS / ACCESSWIRE / March 2, 2022 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") announces that the Company has initiated its geological mapping program on the principal drilling target areas of the Diamante 1 and 2 concessions (see Press Release of January 24, 2022). The drill-ready Diamante gold-silver (Au-Ag) property ("Diamante" or the Property") is located 5 km northwest of the town of Tepoca, and 165 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico (Figure 1).
"The geological mapping and rock sampling is focused on lithological details, structural measurements and verification of sampling coordinates to validate proposed collars, depths and orientations," stated Greg Davison, Silver Spruce Vice-President Exploration and Director. "Our new high resolution LiDAR maps and historical reports have identified additional evidence of surface workings for examination, some with artisanal mining exhibiting individual adits with or without crosscuts following vein and shear structures."
Mr. Davison also stated, "The early returns from the vein target mapping program are promising. The Company, along with our partner Colibri Resource Corp., will jointly manage and fund an initial 2,000 metre drilling program upon receipt of the drilling permit, expected in late March 2022, from SEMARNAT, the Mexican government environmental authority."
Figure 1. Diamante 1 and 2 Concession Location Map. Note adjacent El Mezquite and Jackie. Nicho mine development by Minera Alamos located <10 km SE of the Properties.
Preliminary reports from the field team have verified steeply dipping polymetallic sulphide-rich veins from La Prieta, one of the principal veins targets (Figure 2). The mineralization is hosted within sheared and altered andesites of the Tarahumara Formation which dominates the geological exposure on the Diamante 1 property (Figure 3). The complete geological and analytical results from the current mapping and sampling program will be reported in due course.
Figure 2. Diamante 1 Concession - Polymetallic sulphide vein in sheared andesite.
Figure 3. Diamante 1 Concession Map with location of Phase 1 drilling targets on regional geology, graduated Au-Ag values and interpreted surface workings (red crossed picks).
The targets under consideration for Phase 1 drilling include La Prieta, Aguaje, El Chon-El Chon Oeste, La Olla, Pillado, Calton, El Cumbro and Mezquite-Raizudo targets. Assays for historical surface and U/G channel samples reported up to 39.8 g/t Au, 3,460 g/t Ag, 18.2% Pb, 33.5% Zn and 1.47% Cu (see Press Releases of April 12, 2021 and January 24, 2022). For example, a 9.10 metre composite channel sample from La Olla underground workings, comprising four sub-samples, contained a weighted 0.58 g/t Au, 98 g/t Ag, 2.58% Pb and 21.95% Zn (Cu not reported).
The significant impact of the base metals to the value proposition is well illustrated using Au-equivalent (AuEq) and Ag-equivalent (AgEq) grade determination as indicated in Table 1 (sorted by AuEq). Metal values (US$) used for AuEq and AgEq calculations are as follows: Au ($1,899/oz), Ag ($23.77/oz), Pb ($1.07/lb), Zn ($1.64/lb) and Cu ($4.55/lb). Table 1 provides geochemical results for select samples (n=11 of 354) sorted by AuEq from seven target areas on both Diamante 1 and 2 concessions.
Table 1. Select precious metal and base metal assays sorted by Au Eq (>15 g/t) (n=11).
The Property is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the northwest-trending "Sonora Gold Belt" of northern Mexico. Diamante offers strong precious metal tenor with a polymetallic endowment, multiple quality targets, styles of mineralization, limited artisanal mining and small-scale production, of particular significance for our exploration moving forward, no records of drilling.
Geological features of epithermal low to intermediate sulphidation Ag-Au (Pb-Zn), high sulphidation Au-Cu, and potential porphyry style Au-Cu occur as disseminated, stockwork and vein styles accompanied by phyllic, argillic, advanced argillic and propylitic zones, with near-surface overprinting by weathering with iron oxide and oxyhydroxide staining, jarosite and relict vuggy silica. Recent exploration verified pathfinder elements including As, Sb, Hg, Cd and Bi.
Structural lineaments with ENE, NE and NW orientations and branching, oblique vein sets to the N-S direction correspond to known vein systems. These include vein targets at La Prieta, El Cumbro, Mezquite Raizudo, El Chon, La Olla, Calton and Pillado. Disseminated and stockwork mineralization at Anomalía Sur and El Puerto offer bulk low-grade targets.
Mineralization is reported visually as pyrite, arsenopyrite, chalcopyrite, sphalerite, argentiferous galena, argentite, hematite and probable metal oxides, carbonates and sulphates, including copper carbonate (malachite), copper sulphates and plumbojarosite.
Silver Spruce can acquire up to 50% interest in four Diamante concessions with a cumulative land position of 1,057 hectares (see Press Release of April 29, 2021). The Property is very well situated in terms of resource and logistics for exploration and is easily accessible from Mexican Highway #16 which transects Diamante 1 and on several ranch trails and dry river beds to Diamante 2.
Mining and exploration in the surrounding area is very active with adjacent and nearby properties held by Alamos Gold, Argonaut, Agnico Eagle, Evrim, Newmont, Garibaldi, Kootenay Silver and Penoles among others.
Geochemical Analysis, Quality Assurance and Quality Control
All metal values disclosed herein by Silver Spruce are reported from historical grab and channel samples which may not be representative of the metal grades. The Company's Qualified Person believes that the sampling, analytical protocols and data will withstand scrutiny for inclusion.
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the Diamante Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, and up to 50% interest in each of Colibri's Jackie Au and Diamante Au-Ag projects. The Company is acquiring 100% interest in the Pino de Plata Ag project in western Chihuahua, Mexico. Silver Spruce signed a Definitive Agreement to acquire 100% interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and Labrador. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
Greg Davison, PGeo, Vice-President Exploration and Director (250) 521-0444 gdavison@silverspruceresources.com
Michael Kinley, CEO (902) 402-0388 mkinley@silverspruceresources.com
info@silverspruceresources.com www.silverspruceresources.com
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.
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE: Silver Spruce Resources Inc.
View source version on accesswire.com: https://www.accesswire.com/691090/Silver-Spruce-engages-geological-mapping-program-on-priority-drill-targets-at-Diamante-Au-Ag-Concessions-Sonora-Mexico
“We are exiting that regime, and it’s going to be bumpy,” said the famous Fed watcher Mohamed El-Erian of the world where central banks let the money flow.
Elon Musk is angry. Before getting to the reason for his anger, it should be noted that for more than a decade, from 2003 to almost 2013, the billionaire and Tesla pushed hard for the adoption of electric vehicles despite mockery from rivals and skepticism from financial markets and consumers. Musk and Tesla had, however, found an ear at the White House in the person of Barack Obama, newly elected in 2008.
Investors might take some comfort in crystal-ball gazing by Bank of America, which uses history to plot the next bull market.
Inside Boeing’s cavernous factory at Everett, 30 miles north of Seattle, engineers quietly put the final touches to its new Jumbo Jet.
Buffett swapped out Wells Fargo and Goldman Sachs for a beaten-down bank.
Already, very early signs of slowing demand and inflation are cropping up. If the economy averts all-out disaster, then stabilizing or declining rates would spur a market rebound.
AMD and Nvidia have been swallowed up in the bear market, with each stock declining at least 50%. Here's how to trade them now.
Since hitting their all-time closing highs, the widely followed Dow Jones Industrial Average, benchmark S&P 500, and growth stock-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively tumbled by 17%, 22%, and 33%. There's no question that the velocity and unpredictability of downward moves during a bear market can weigh on investors' psyche. This makes corrections and bear markets the opportune time to put your money to work.
Future Perfect Ventures Founder Jalak Jobanputra joins Yahoo Finance Live to discuss bitcoin falling over 30%, the crypto recovery, and the outlook for cryptocurrencies.
Yahoo Finance's Alexis Keenan explains a lawsuit levied against Tesla, SpaceX, and Elon Musk alleging dogecoin scheme.
Once you have $1 million in assets, you can look seriously at living entirely off the returns of a portfolio. After all, the S&P 500 alone averages 10% returns per year. Setting aside taxes and down-year investment portfolio management, a … Continue reading → The post How Much Interest Can You Earn on $1 million? appeared first on SmartAsset Blog.
The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.
Over the past year or two, investors have seen a number of popular stocks carry out well-publicized stock splits. For instance, Amazon completed a 20-for-1 stock split on June 6, Shopify is planning a 10-for-1 stock split on June 28, and Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) 20-for-1 stock split is scheduled to occur on July 15. Historically, stock splits have been a sign of management's confidence in the company's ability to keep growing and investors become bullish as well.
(Bloomberg) -- You can look but you won’t find a stretch of futility as pervasive as the one that is landing on Wall Street.Most Read from BloombergPutin Gets Unexpected Pushback From Ally Over War in UkraineChina Says It May Have Detected Signals From Alien CivilizationsSergey Brin Seeks Divorce, Joining Gates and Bezos in SplitMusk, Tesla, SpaceX Are Sued for Alleged Dogecoin Pyramid SchemeMonkeypox Testing Shows the US Learned Little From the Covid-19 PandemicEven in the long and storied hist
Bitcoin traded below $20,000 on Saturday, extending the slide that has wiped out trillions in market value from cryptocurrencies.
It's no secret that Warren Buffett is one of the best investors alive, delivering investors returns of 20% compounded annually since becoming chief executive officer of Berkshire Hathaway in 1965. Numerous factors can explain Buffett's success, and an important one is his love of dividend stocks. Dividend stocks are a great source of returns in the market and, according to Fidelity, have accounted for 40% of the S&P 500's total returns since 1930.
Credit Suisse has warned of a “new world order” in financial markets after central banks began aggressively ramping up interest rates.
(Bloomberg) -- Bitcoin fell below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening. Most Read from BloombergPutin Gets Unexpected Pushback From Ally Over War in UkraineChina Says It May Have Detected Signals From Alien CivilizationsSergey Brin Seeks Divorce, Joining Gates and Bezos in SplitMusk, Tesla, SpaceX Are Sued for Alleged Dogecoin Pyramid SchemeMonkeypox Testing Shows the US
Ford Motor Company (NYSE: F) stock plunged 14.5% this week at its lowest point in trading, according to data provided by S&P Global Market Intelligence. There are multiple factors behind Ford stock's steep fall these days, four of which stand out: macroeconomic concerns, a large recall, a hot-selling electric vehicle (EV) hitting a roadblock, and a sharp dip in sales in Ford's second-largest market. While that pretty much sums up Ford's challenges in the U.S., Europe isn't faring any better.
John Szczecina, the now unemployed gas station manager, is trying to right some wrongs.