Silver Spruce Resources Inc SSEBF

Primary Symbol: V.SSE

Metals & Mining Industrial Metals & Minerals

Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario. The Project is an advanced precious and base metal property located in the Thunder Bay Mining District, northern Ontario, Canada. The Project covers 11,236 hectares with volcanogenic massive sulphide (VMS) and Au targets located in east to southeast-striking, subvertical to moderately Archean metavolcanic quartz-sericite schists to coarse fragmental units. The Company intends to own 100% interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and Labrador; 100% interest in the Pino de Plata Ag project located 15 kilometers (kms) west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico; 50% interest in the Jackie Gold project, located 5 km south-southwest of the towns of Tepoca and Carrizal, and up to 50% interest in Diamante Au-Ag project located from 5 to 15 kms northwest from Nicho deposit in Sonora, Mexico.

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Silver Spruce Resources Inc

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Post by mavericks2020on Sep 21, 2021 7:34am

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Post# 33891133

news

Silver Spruce agreement for Newfoundland properties

2021-09-20 18:35 ET - Property Agreement

The TSX Venture Exchange has accepted for filing documentation in relation to an option and purchase agreement dated Sept. 7, 2021, between the company and two arm's-length parties. Pursuant to the agreement, the company will acquire a 100-per-cent interest in the Mystery, Till and Marilyn properties, located near Grand Falls, Nfld. As consideration, the company will pay the vendors an aggregate of $615,000 cash, 10 million common shares and incur a minimum of $1.5-million of expenditures on the properties over a period of five years. The vendors will reserve, retain and hold a 2-per-cent net smelter return royalty on the properties and the company shall be entitled to buy back 1 per cent of the net smelter return royalty for $2-million.

For further information, please refer to the company's news release dated Sept. 14, 2021.