Silver Spruce Reports on AGM Results and Exploration Plans at Big Easy
May 29 2014 - 7:00AM
Marketwired
Silver Spruce Reports on AGM Results and Exploration Plans at Big
Easy
BRIDGEWATER, NOVA SCOTIA--(Marketwired - May 29, 2014) - Silver
Spruce Resources Inc. (TSX-VENTURE:SSE) is pleased to report on the
results of shareholder voting at the 2014 annual general meeting
(AGM) held in Bridgewater, NS on May 6, 2014 and to give an update
on exploration plans for the Big Easy Au/Ag property for 2014.
AGM - A total of 11 shareholders were present either in person
or by telephone at SSE's office in Bridgewater. All items
recommended by management were ratified by the shareholders as
follows:
|
% Voted For |
% Voted
Against |
|
|
|
Reappoint Auditor |
100% |
|
Stock Consolidation |
85.9% |
14.1% |
Ratify all Actions |
93.4% |
6.6% |
Other Business |
83.8% |
16.2% |
Reappoint Directors |
|
|
Lloyd Hillier |
98.34% |
1.66% |
Gordon Barnhill |
98.34% |
1.66% |
Peter Dimmell |
98.34% |
1.66% |
Ted Urquhart |
98.83% |
1.17% |
Rob Gillis, a director of SSE since April 2009, did not stand
for re-election due to work commitments. Silver Spruce wishes to
thank Rob for his guidance and contributions to the company over
the past 5 years.
Planned 2014 Exploration
The company is planning to move forward with exploration on the
road accessible, Big Easy epithermal, low sulphidation, Au/Ag
property, in eastern Newfoundland, in the summer and fall of 2014.
Proposed work includes continued prospecting along the Big Easy
trend, follow up soil geochemistry, prospecting and sampling on the
ET zone, grid extension to the south to the ET zone from the Big
Easy zone and a Phase 3 diamond drilling program to test the Big
Easy system at depth, below 250 m vertical, where the bonanza Au/Ag
veins are thought to lie. The budget for the planned exploration is
in the $300,000 range and is contingent on financing. A Junior
Exploration Assistance (JEA) grant for the maximum $100,000 has
been applied for through the Newfoundland and Labrador Department
of Natural Resources. This grant, if approved, is contingent on
matching funding to be raised through either a private placement or
a joint venture on the property.
The Big Easy zone is a "classic" low sulphidation, epithermal,
system and although very old, dated at around 570 Ma, is relatively
pristine and undeformed. Significant gold and silver values
including up to 7.9 g/T Au and 130 g/T Ag over 1.2 m in DDH
BE-11-12 and 335 g/T Ag and 2.5 g/T Au over 0.25 m in a quartz
adularia vein in DDH BE-11-7, have been located. Banded colloidal
silica (hot spring deposits) found in outcrop in two areas, 600 m
apart, and bladed textures (indicative of boiling?) in drill holes
and surface samples indicate that we are at or near the
paleosurface and above the level that bonanza style gold/silver
values should be located, typically 250-500 m below the surface (or
paleosurface), where the hot springs are found. Two drilling
programs, in 2011 and 2012, located significant Au/Ag
mineralization and associated alteration over a 1 km strike length
but have not tested the Big Easy zone to depth.
Silver Spruce Compliance with the Canada Anti-Spam Legislation
(CASL)
With changes in CASL taking effect on July 1, 2014 Silver Spruce
is reminding its e-mail recipients that they are receiving e-mail
because they are currently subscribed to the Silver Spruce
Resources Inc. e-mail list. At the bottom of each e-mail you
receive from us there is a clearly marked unsubscribe link. Should
you no longer wish to receive e-mail from us, simply click that
link and you will be automatically removed from our list.
About Silver Spruce Resources Inc.
Silver Spruce is a diversified junior exploration company with a
significant, road accessible, low sulphidation, epithermal,
gold/silver property in eastern Newfoundland, which has potential
for bonanza grades in both gold and silver - the Big Easy, and for
the longer term, a portfolio of uranium (Snegamook, A7 (Fishawk
Lake), Double Mer, Mount Benedict, CMBJV) and rare earth (Pope's
Hill, Pope's Hill JV (w/ Great Western Minerals Group), Straits)
projects in Labrador.
Shareholders and other interested parties can view our
Information Circular, and our financial statements on www.sedar.com
or on our website at www.silverspruceresources.com. Information
including pictures from our projects, including Big Easy, can also
be found on the Silver Spruce website.
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.
Silver Spruce Resources Inc.Peter DimmellPresident/CEO and
Director709.739.5608709.739.0761pdimmell@silverspruceresources.com
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