Mr. Gordon Barnhill of Silver Spruce reports
SILVER SPRUCE REPORTS ON REE / U PROPERTIES IN LABRADOR
Silver Spruce Resources Inc. has provided the results of due diligence exploration carried out by Rare Earth Minerals (RA) on the company's Pope's Hill and RWM rare earth element (REE) properties in Labrador and the start of follow-up exploration by SSE personnel on the Pope's Hill and Lobstick properties. The company signed a confidentiality agreement with RA for due diligence and possible option on the PH and RWM properties in June (news release in Stockwatch dated June 22, 2010). The RWM property covers the second-highest heavy rare earth element (HREE) lake sediment value in Labrador on record. The properties are 100-per-cent owned by Silver Spruce (news release in Stockwatch dated May 6, 2010).
Pope's Hill
The property consists of 62 claims (1,550 hectares) located in the Pope's Hill area along the Trans-Labrador Highway (TLH). Rock samples taken in 2006 gave values up to 0.46 per cent zirconium, 0.22 per cent niobium, and 7.9 per cent total rare earth elements (TREE) plus yttrium with heavy rare earth elements (HREE) up to 15 per cent of the total rare earth component. Three samples gave values greater than 1 per cent (TREE plus yttrium), including two samples greater than 5 per cent. Samples anomalous in REE also showed elevated thorium values with the highest thorium and REE values coincident (news release in Stockwatch dated May 6, 2010). The rock units are granitic gneisses of late Paleoproterozoic age, with some pegmatites.