Springdale, NL-based Cabo Drilling has received a contract from Silver Spruce Resources, a junior exploration company, to conduct 1,000 m of diamond drilling on Silver Spruce’s Big Easy gold/silver property located in eastern Newfoundland.
In mid-June, drill rig will be mobilized to analyze epithermal mineralization in a modified zone over a 1.7 km x 300 m wide area. In 2011, all seven drill holes encountered considerable gold/silver mineralization over a strike length of 1.2 km.
Silver Spruce Resources’ President and CEO, Peter Dimmell informed that the Phase 2 follow-up drill campaign is primarily based on the 2011 drilling program and also on a comprehensive structural understanding of the mineralized zones and an in-depth interpretation of the epithermal system via the support of government and academic studies.
In the 2011 drilling program, "bonanza style" veins were encountered, wherein a banded, 0.3 m vein returned 2.57 g/t gold and 335 g/t silver from 231.3-231.6 m. In the core and outcrop, adularia, sinter, and boiling textures were observed and suggest that the system is located close to the paleosurface and further suggest that bonanza style gold/silver veins of higher grade could be present below the paleosurface than tested till date. Additionally, the banded, epithermal veins discovered from the prior drill program are located to the core axis and suggest that the feeder systems and the mineralized veins could not have been analyzed appropriately by the prior drill program.
Besides the diamond drilling, Silver Spruce has planned VLF-EM and airborne high resolution magnetic survey to investigate the Big Easy property. Lithologic and structural data on the Big Easy-ET trend will be obtained through the survey. The Big Easy-ET trend remains exposed to the south and north along the trend.
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