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Silver Spruce Engages Phase 1 Gold Grain in Till Sampling and Geochemistry Program at Mystery Au Project, Exploits Gold Belt, Newfoundland and Labrador

BEDFORD, NS / ACCESSWIRE / November 8, 2021 / Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") is pleased to announce the engagement of…

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BEDFORD, NS / ACCESSWIRE / November 8, 2021 / Silver Spruce Resources, Inc. (“Silver Spruce” or the “Company”) is pleased to announce the engagement of an exploration team, managed by the Property Vendor, to carry out gold grain in till sampling and soil geochemical sampling on the Mystery Au project (“Mystery”). The Company recently signed a Definitive Agreement with two parties (the “Vendors”) to acquire 100% of three early-stage gold exploration properties, Mystery, Till and Marilyn, (the “Property” or the “Properties”) located near Grand Falls, Newfoundland and Labrador, Canada, 20-25 kilometres west of New Found Gold Corp.‘s Queensway project and 15-35 kilometres south of Sokoman Minerals Corp.‘s Moosehead gold project (Figure 1).

“We are now approved to engage the exploration programs and the field team is “boots on the ground” today conducting the Phase 1 sampling program,” said Greg Davison, Silver Spruce Vice-President Exploration and Director. “The Properties comprise a large, virtually untested area given the number of showings, prospective geology and regional geophysical structures within and adjacent to our holdings. The wide-spaced gold grain in till sampling program’s location, frequency, size and shape distribution data will provide the first pass exploration filter over our forthcoming airborne geophysical survey base map from our MPX Geophysics survey.”

The gold grain in till program is underway with B zone soil geochemical sampling over a planned 184 locations (Figures 2 and 3 for Mystery Lake and Marilyn blocks). The till samples, expected to average 12kg in weight of screened -¼” or -½” material, will be shipped to Nepean, Ontario and submitted to Overburden Drilling Management (“ODM”) for processing and gold grain analysis. ODM is the industry pioneer and global leader in heavy mineral geochemistry and has pioneered innovative indicator mineral techniques for gold, Ni-Cu-PGE, Cu-Zn-Pb, porphyry Cu, kimberlite (diamond), uranium and rare earth element exploration. The soil samples will be shipped to ALS Global in North Vancouver for precious metal and multi-element analysis. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

Exploration Plan

The Company has staged plans to complete, with its receipt of exploration approvals from the Mineral Lands Division of the Government of Newfoundland and Labrador, regional till sampling for gold grain analysis and soil geochemistry, prospecting, airborne geophysics, QA/QC program development, ArcGIS geological and geophysical data compilation and as warranted by the Phase 1 results, submit additional permit applications to undertake a detailed geological mapping and sampling program, grid soil sampling and planning for our first exploration drill campaign during the summer of 2022. All aspects of the exploration program will be conducted with strict adherence to COVID-19 protocols for personal safety.

Figure 1. Map of the Mystery project claims, named from north to south, Marilyn, Till and Mystery, located only 20-50km south of Bishop’s Falls, Newfoundland.

Figure 2. Map of the Mystery Lake claim block showing proposed wide-spaced Phase 1 till and B soil sampling locations. Hashed areas are third party claims.

Figure 3. Map of the Marilyn claim block showing proposed wide-spaced Phase 1 till and B soil sampling locations. The claims are transected from north to south by the Bay d’Espoir Highway.

Project Background

The 8,750-hectare project is located within the Exploits Subzone, an extensive area of mineral exploration activity and discoveries over the past two years. The Properties are well situated in terms of exploration logistics, located close to each other and 10-45 kilometres south by Bay d’Espoir Highway from Bishop’s Falls, Newfoundland. The Properties are located <70 kilometres from the Gander International Airport and are easily accessible from major paved roads and local logging and bush roads and trails.

The region is structurally complex and located, in large part, between several major crustal lineaments. Numerous major to lesser sub-parallel features merge and bifurcate along strike and are transected by NW and EW-trending faults. These deep-seated structures, which juxtapose geological terranes over hundreds of kilometres, are key to the location and formation of orogenic gold deposits containing several million ounces of gold as reported by junior companies in the district.

The Properties have seen little structured exploration to date. Prospecting by the Vendor is the only exploration conducted during the past ten years. Silver Spruce expedited its initial site visit on the Properties during the week of August 23rd and received an independent positive initial report on the mineral and rock textures potentially related to shallow epithermal and/or orogenic vein-style mineralization. Silver Spruce recently verified sample locations for the historical assays and collected new rock samples. The results remain pending and will be reported in due course.

A selection of historical assays was reported for precious and base metals and pathfinder elements from 123 samples collected from Mystery and Marilyn (see Press Release of September 14, 2021). Eighteen samples reported Au >0.5 g/t (max. 12.5 g/t Au). Cu values were reported up to 9.85% with minor Ag, Pb and Zn. Arsenic was highly anomalous with values for thirty-six samples over the 2200 ppm upper limit for Inductively Coupled Plasma (ICP-OES) analysis, strongly associated with elevated Au values and displayed as minor to abundant arsenopyrite.

Multiple surface occurrences are reported of agate chalcedony to colloform and crystalline silica veining and multi-phase breccias, carbonate replacement by quartz, and open-space filling quartz and calcite, all textures indicative of the upper zones of epithermal systems and structural conduits in orogenic systems and are accompanied by Au and arsenopyrite, stibnite, chalcopyrite, bornite and Cu carbonate mineralization in several host lithologies including quartz veins, black shale and other sedimentary units, and ultramafic and gabbroic intrusions.

All metal values disclosed herein for the Mystery and Marilyn properties by past operators, including the Vendors, and by Silver Spruce are reported from grab samples which may not be representative of the metal grades, or the metal grade distribution, and those from previous exploration efforts must be considered as historical in nature.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company’s internal Qualified Person for the Mystery, Marilyn and Till Projects 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, a drill-ready precious metal project, and up to 50% interest in each of Colibri’s early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos‘s Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining’s Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., 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.

Contact:
Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
[email protected]

Michael Kinley, CEO
(902) 402-0388
[email protected]

[email protected]
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.

Notice Regarding Forward-Looking Statements

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/671609/Silver-Spruce-Engages-Phase-1-Gold-Grain-in-Till-Sampling-and-Geochemistry-Program-at-Mystery-Au-Project-Exploits-Gold-Belt-Newfoundland-and-Labrador










Today’s News

CSE Bulletin: Delist – Buccaneer Gold Corp. (BUCK)

Toronto, Ontario–(Newsfile Corp. – le 7 décembre/December 2021) At the request of the company the common shares of Buccaneer Gold Corp. will be delisted…

Toronto, Ontario–(Newsfile Corp. – le 7 décembre/December 2021) At the request of the company the common shares of Buccaneer Gold Corp. will be delisted at market close on December 8, 2021.

The Company’s common shares will continue to trade on the NEO Exchange.

_________________________________

À la demande de la société, les actions ordinaires de Buccaneer Gold Corp. seront radiées à la clôture du marché le 8 décembre 2021.

Les actions ordinaires de la Société continueront d’être négociées sur le NEO Exchange.

Date:

Market Close/Clôture du marchés le 8 décembre/December 2021

Symbol(s)/Symbole(s):

BUCK

 

If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: [email protected]

Pour toute question, pour obtenir de l’information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l’adresse: [email protected]




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Reunion Gold reports new drill results at its Oko West Project in Guyana including 2.44 g/t over 46.5 m, 2.22 g/t over 57.0 m and 1.88 g/t over 41.0 m

The results confirm the continuity of the deposit and extend the know mineralization laterally, along strike and at depth into the unweathered rock.LONGUEUIL,…

The results confirm the continuity of the deposit and extend the know mineralization laterally, along strike and at depth into the unweathered rock.

LONGUEUIL, Quebec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to report new significant gold intersections, including 2.44 g/t over 46.5 meters, 2.22 g/t over 57 meters and 1.88 g/t over 41.0 meters as part of its ongoing drilling program at the Oko West Project in Guyana. Hole 47 intersected the deepest mineralized interval so far, with 2.22 g/t over 57 meters at approximately 200 meters vertical depth from the surface (Table 1). These new drill results, which consistently show high grades and intersected lengths, clearly demonstrate that gold mineralization continues at depth in unweathered rock. The results also expand the gold mineralization laterally and continue to show the strong mineralization continuity along a “corridor” more than 1.2 km long. Preliminary metallurgical studies outlined below also show encouraging results with gold recoveries ranging between 78% and 98%.

The objective of the current drill campaign is to confirm the vertical and lateral continuity of gold mineralization previously identified in eight “blocks” straddling shear zones over a 3 km long strike length, within a 6 km long soil geochemical anomaly. Diamond drilling (“DD”) has been focused on testing depth extensions into the unweathered rock below 100 m (Figure 2), as well as testing for lateral extensions between the outlined blocks. The reverse circulation (“RC”) rig is testing the edges of exploration blocks and scouting previously untested targets both laterally and along strike. The Company has so far demonstrated continuous gold mineralization in a “corridor” more than 1.2 km long (see Figures 1 and 3) characterized by zones of intense deformation and hydrothermal alteration in sedimentary, granitic, and volcanic rocks. These zones contain widely disseminated gold in microfractures and metric-scale high-grade veins assaying up to several ounces per tonne.

Carlos Bertoni, Interim CEO, stated: “We are very excited by this round of drill results as they continue to demonstrate the impressive continuity of the gold mineralization outlined to date with long intercepts of good grade. The results successfully expand the known deposit both at depth into the unweathered rock, and laterally, between the previously outlined “blocks.” The deposit remains open to expansion in all directions. We have only started drill testing the southern 3 km of the soil geochemical anomalies.”

The Company restarted its drilling activities at the Oko West Project early in November, following a one-month break to finalize the interpretation of the then recent results and to properly plan the current 9,000-meter drill program, and for equipment maintenance. Assay results presented in Table 1 below shows significant intersections from a total of 1,322 meters in eight DD and 834 meters in nine RC holes, with assay results from two DD holes and ten RC holes not yet received.

Table 1
Drill hole ID Exploration Block From (m) To (m) Length (m) Gold (g/t)
Diamond Drill Holes
OKWD21-43 1 25.50 36.00 10.50 0.65
OKWD21-46 1 61.50 69.00 7.50 1.68
    82.50 90.00 7.50 1.43
    133.50 180.00 46.50 2.44
including   171.00 180.00 9.00 6.85
    186.00 192.00 6.00 1.27
OKWD21-47 4+3 134.75 141.80 7.05 2.44
    154.00 158.50 4.50 1.73
    173.50 230.50 57.00 2.22
OKWD21-48 4+3 54.50 59.55 5.05 2.66
OKWD21-49 4+3 156.00 162.00 6.00 2.90
OKWD21-50 4+3 52.50 57.00 4.50 5.67
    135.50 176.50 41.00 1.88
Reverse Circulation Drill Holes
OKWR21-56 1 16.00 28.00 12.00 5.61
including   18.00 24.00 6.00 10.03
OKWR21-58 1 24.00 38.00 14.00 1.46
    47.00 53.00 6.00 1.95
OKWR21-59 1 75.00 80.00 5.00 1.85
OKWR21-71 1 121.00 128.00 7.00 2.52

The Company has now drilled a total of 6,467 meters in 53 DD holes and 7,836 meters in 91 RC holes since the beginning of the drilling program at Oko West in December 2020, with significant assay results reported in press releases on August 12, September 7, and October 7, 2021. The Company will interrupt its field activities at the Oko West Project from December 17, 2021, and restart early in January 2022 and plans to complete this current drill campaign by the end of March 2022.

Metallurgical testing

The Company completed a maiden scoping-level metallurgical test by bottle-roll cyanide leaching eight mineralized samples at the Actlabs laboratory in Georgetown, Guyana. These samples represent weathered and unweathered rocks from trench and drill hole samples in different host rocks. Positive gold recovery results were received using low cyanide (0.5 kg/t) in under 12 hours of leaching. Gold recoveries range between 78% and 98%. These preliminary encouraging results indicate that gravity concentration followed by cyanidation should improve gold recoveries. The Company is preparing a complete metallurgical testing plan for the Oko West mineralized rocks.

Drill result composites, sample collection, assaying and data management

The Company calculates drill results composites with a minimum length of 2 m, a cut-off grade of 0.3 g/t and 2 m maximum length of internal waste. Gold grades are uncapped. True widths are unknown. Complete drilling results and drill hole data are being posted on the Company’s website. Diamond drill samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. Samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. 50 g of pulverized material is fire assayed by atomic absorption (AA). Initial assays with results above 3,000 ppb gold are re-assayed with a gravimetric finish. Certified reference materials and blanks are inserted at 5% of samples shipped to the laboratory. Assay data is subject to QA/QC using acQuire software and management by an independent consultant.

Qualified Person

The technical information in this press release has been reviewed and approved by Carlos H. Bertoni, P.Geo., the Company’s Interim CEO. Mr. Bertoni is a qualified person under Canadian National Instrument 43-101.

Cautionary Statement

This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company’s control, including statements regarding plans to complete drilling and other exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

About Reunion Gold

Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname, and French Guiana. The Company has an option to acquire a 100% ownership interest int the Oko West Project in Guyana. The Company’s common shares are listed on the TSX Venture Exchange under the symbol ‘RGD.’ Additional information about the Company is available on SEDAR (www.sedar.com) and the Company’s website (www.reuniongold.com). The Company currently has 669.3 million issued and outstanding common shares.

For further information, please contact:

REUNION GOLD CORPORATION
Carlos H. Bertoni, Interim CEO or
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Email: [email protected]

Figure 1: Map of the Oko West Block 4 and adjacent area showing schematic geology, mineralized zones (dashed red lines), and trench (brown), DD (black) and RC drilling (green) results in composite highlights. The locations of the cross and longitudinal sections are shown as green and red lines, respectively. Composite results in this press release are from holes with highlighted labels. 

Figure 2: Geological section looking north near trench 44 in Block 4 shows schematic geology, mineralized zones (dashed lines), trench and drilling results composite highlights (see section location on Figure 1). Intervals with lengths inferior to 5 m are not listed. 

Figure 3: Longitudinal section looking west of the Oko West mineralized “corridor” gold grade block model (block dimensions are 8x8x8 m). Continuity interruptions are daa constrained rather than a lack of mineralization. Some drill holes shown are off section. See 1.2 km bar in Figure 1.








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Quebec Silica Announces Private Placement of up to $2 Million Units and Flow-Through Shares

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Quebec Silica Resources Corp. (CSE: QTZ) ("Quebec Silica," or the "Company") is pleased…

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Quebec Silica Resources Corp. (CSE: QTZ) (“Quebec Silica,” or the “Company”) is pleased to announce that it is arranging a private placement of: (i) up to 6,250,000 of units (each, a “Unit“), at a price of $0.16 per Unit; and (ii) up to an aggregate of 5,000,000 of flow-through shares (each, a “FT Share“), at a price of $0.20 per FT Share for aggregate gross proceeds of up to $2,000,000 (the “Offering“).

Each Unit shall be comprised of one common share (“Common Share“) in the capital of the Company and one-half (1/2) of a transferable Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.20 for a period of two (2) years from the closing date (the “Closing Date“) of the Offering. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The net proceeds from the issuance of the Units will be used for general working capital purposes. The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act(Quebec) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2022 and renounced to the subscribers with an effective date no later than December 31, 2021 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the “exploration base relating to certain Quebec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the “exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses” within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to eligible registrants consisting of: (i) cash finder’s fees of up to 8% of the gross proceeds of the Offering; and (ii) finder warrants in an amount equal to up to 8% of the number of Units and FT Shares issued pursuant to the Offering, exercisable at a price of $0.20 per Common Share for a period of two (2) years following the Closing Date.

The Offering is anticipated to close on or about December 15, 2021, or such later date as the Company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadians Securities Exchange (CSE). All securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation.

About Quebec Silica Resources Corp.
Quebec Silica Resources Corp. is a mineral exploration, and development company focused on exploring, developing, and acquiring industrial mineral resources in Quebec, Canada. The Company is currently focused on its wholly-owned Charlevoix Silica Project, near St. Urbane, Quebec, Canada.

Additional information on Quebec Silica. is available at www.quebecsilica.com.

On Behalf of the Board of Directors,

QUEBEC SILICA RESOURCES CORP.

“Raymond Wladichuk, P.Geo.”
Chief Executive Officer

For further information, please contact:
Elyssia Patterson – CFO
Tel: +1 (833) 474-5422

Email: [email protected]

Neither the Canadian Securities Exchange nor it’s Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Quebec Silica’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although Quebec Silica believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Quebec Silica to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107002





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