April 20, 2021 – Bedford, NS – (TSXV:SSE) – Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce the approval for its Informe Preventivo, the environmental application required for drilling on the El Mezquite Project (“El Mezquite” or the “Property”). The permit was received and granted to the concession holder, Yaque Minerals S.A. de C.V. (“Yaque”) by the Mexican Secretariat of Environment and Natural Resources (SEMARNAT) for El Mezquite, a drill-ready precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico.
“We are very pleased to move forward from the permitting to the drilling activities for El Mezquite. The environmental application for Yaque was very thorough and required no revisions for its approval. The timely receipt of the permit speaks volumes to the high-quality technical report prepared by Sr. Ruiz and his team at Green & Ceo,” stated Greg Davison, Silver Spruce Vice-President Exploration and Director. “The Company has completed the planning for the Phase 1 2,000 metre drill program and will select the drill contractor shortly. Mobilization of the rig and geological team to the Property is planned during the first week of May.”
Figure 1. Looking north to principal gossan and alteration zones and El Mezquite Phase 1 drill targets; easy access to ranch trail from Highway #16 crossing E-W in background.
Silver Spruce contracted Green & Ceo, Asesorío Profesional y Securidad en Ambiente, of Hermosillo, Sonora to manage the environmental permitting process.
The permit allows for fourteen (14) drill pads over the targets in the northern area of the concession as tabulated below in Table 1.
Table 1. Proposed and permitted pads and collars for Phase 1 El Mezquite exploration drill program
Project Background
The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization (see Figure 1). High voltage power lines are positioned along Highway #16.
The El Mezquite 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 (see Figure 2).
The Property is very well situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho deposit currently under mine development by Minera Alamos.
Figure 2. Location Map of El Mezquite Property and Mines of the Sierra Madre Occidental
Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company’s internal Qualified Person for the El Mezquite 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 Green & Ceo
Green & Ceo, Asesorío Profesional y Securidad en Ambiente (Professional Advisory and Safety in the Environment), based in Hermosillo, Mexico, specializes in solving, optimally and sustainably, all matters of Environmental Management, Safety and Hygiene, typical of current Economic Development. Green & Ceo is a CEDES Accredited Service Provider (Prestador de Servicios Acreditado por CEDES).
With its background of knowledge and more than 12 years of experience in this type of permit for the mining industry, Green & Ceo takes investors hand in hand to obtain Authorizations, Licenses, Permits, as well as the Environmental Management and Security of any economic venture (www.green-ceo.com). In particular, the Permit has been developed by Sr. Saul Ruiz (Green Star) who has a track record of more than twenty-seven years.
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 50% interest in Colibri’s early stage Jackie Au project, with both properties located only 12 and 6 kilometres west from Minera Alamos’s Nicho deposit, respectively. The Company also is pursuing exploration of 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 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]
Brian Penney, Chairman
(902) 430-8270
[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.
