Silver Spruce Receives Drill Permit for Cocula Gold Project
BRIDGEWATER, September 17, 2019 - Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) ("Silver Spruce" or the "Company") is pleased to announce that it has received approval of its Informe Preventivo, the environmental application required for drilling at the Cocula gold project in Jalisco State, Mexico.
The permit allows for forty-seven (47) drill sites over the 750-metre strike length of the known mineralized area. The Company is preparing a drilling strategy to evaluate the current mineralization and new exploration targets identified in recent geological mapping.
“With surface access agreements and the drill permit in place, the Company is quickly advancing its technical studies to support a decision to earn a 100% interest in the project,” stated Karl Boltz, CEO of Silver Spruce. “We continue to check the boxes we require in order to prepare and execute a definitive purchase agreement with all parties for the project. So far, the results from surface geological mapping, chip and trench sampling and assaying, check assaying of the historical reverse circulation drill chip samples and re-interpretation of the drill sections, and recent completion of an independent 43-101 report have been quite positive.”
The occurrence of widespread gold mineralization at surface, including high grades of select samples (12.55 grams per tonne (g/t) gold (“Au”), 16.65 g/t Au and 23.7 g/t Au) assayed from rock and drill chip sampling, indicate robust gold mineralization along with significant silver and base metal values.
The Company will continue its due diligence designed to support a definitive purchase decision, subject to its binding Letter of Agreement with ProDeMin, SA de CV (“ProDeMin”).
Qualified Person
Dr. Craig Gibson, Ph.D., CPG, Qualified Person, is responsible for the technical content of this press release.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino de Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire 100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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. The company seeks Safe Harbour.
Contact:
Karl Boltz, President/CEO/Director
(866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
SOURCE: Silver Spruce Resources Inc.
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