Universal Uranium Ltd. and Silver Spruce Resources Inc.: Second Drill Mobilized to the Two Time Zone for Resource Calculation
November 14 2007 - 4:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA and BRIDGEWATER, NOVA SCOTIA and
Silver Spruce Resources Inc. (TSX VENTURE: SSE)(FRANKFURT: S6Q) are
pleased to announce that a second drill has been mobilized by
contractor Lantech Drilling to assist with the resource definition
drilling at the Two Time Zone. The two drills are carrying out
infill drilling in preparation for a 43-101 compliant resource
estimate to be prepared by Scott Wilson Roscoe Postle Associates
Inc. (SWRPA) early in 2008. An 18-hole drill program, totaling
2,800 meters, is planned for completion by December 15, 2007.
Drilling will resume the second week of January 2008. At that
time, one drill will be primarily utilized to evaluate the
extensions of the Two Time Zone to depth and on strike to the north
and south. The second drill will focus on the newly discovered
Firestone Zone (see news release dated October 17, 2007) and other
targets on the CMBNW property.
Trenching and sampling of the surface expression of the Two Time
Zone, as recommended by SWRPA, was completed prior to the onset of
winter conditions. A total of five trenches, varying in length from
30 to 71 meters, tested the zone over a surface strike length of
200 meters on the northern portion of the zone; thick overburden
prevented trenching over the southern half of the zone. All
trenches intersected wide sections of brecciated monzodiorite
carrying radioactivity related to uranium mineralization that was
similar in strength to drill holes from the area. A total of 127,
one-meter channel samples were sawed from exposed bedrock and sent
for analyses. Results are pending.
The Two Time Zone has been traced over a strike length of
approximately 475 metres, from 2+75 N to 2+00 S, and remains open
to the north and south along strike and to depth. The host for the
mineralization is an altered, brecciated and fractured intrusive,
monzodiorite to diorite, with extensive chlorite, carbonate,
hematite and albite alteration. The orientation of the
mineralization appears to be near vertical to steeply dipping.
All other field work on the CMB properties has stopped due to
the winter weather conditions and will resume in the spring.
Results of many of the rock and soil samples remain pending and
will be reported as they are received.
"We continue to be impressed with the strength of the Two Time
uranium zone," stated Lloyd Hillier, President and CEO of Silver
Spruce. "We look forward to the definition of a resource at the Two
Time Zone that will establish Silver Spruce and Universal Uranium
as companies with significant uranium resources. We intend to drill
through the winter taking advantage of skidoos for access, which
should keep our drilling costs down."
Rock, core and soil sample analyses are being performed by
Activation Laboratories in Ancaster, Ontario, an approved,
accredited laboratory. Activation will use the delayed neutron
activation technique (DNC), which gives accurate results for
samples carrying up to 1.0% uranium and an ICP technique that gives
good results for most of the other elements, including Thorium. A
quality assurance/quality control (QA/QC) program has been
implemented by the Universal Uranium and Silver Spruce joint
venture to increase confidence in the results generated. The QA/QC
program is described on the companies' websites together with plan
maps and sections for the drilling on the Two Time Zone.
ABOUT THE CMB PROPERTIES
The CMBNW block is part of the Silver Spruce/Universal Uranium
CMB/Seal Lake joint venture previously announced.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSX VENTURE: UUL) is a publicly held
Canadian uranium exploration company focused on acquiring,
exploring and developing uranium properties located in favorable
geo-political climates. The company is led by a highly skilled,
experienced board and management team with significant successes in
managing early stage mineral exploration companies.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSX VENTURE: SSE) is a junior
exploration company focused on uranium in the Central Mineral Belt
(CMB) of Labrador, Canada. With over 12,500 claims totaling
approximately 3,100 square kilometers in Labrador, Silver Spruce is
the second largest landholder in one of the world's premier
emerging uranium districts. Experienced partners and strong
financial backing, make Silver Spruce a leading uranium explorer in
Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice
President of Exploration, Silver Spruce Resources Inc., a Qualified
Person (QP) as defined in National Instrument 43-101.
The company seeks Safe Harbour.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Universal Uranium Ltd. - Head Office Ron Atlas
President (604) 662-3903 (604) 662-3904 (FAX) Email:
ratlas@universaluranium.com Universal Uranium Ltd. - Investor
Relations Bill Galine Director of Corporate Communications (604)
662-3903 ext. 106 Email: bgaline@universaluranium.com Website:
www.universaluranium.com Silver Spruce Resources Inc. - Head Office
Gordon Barnhill CFO & Director (902) 527-5700 (902) 527-5711
(FAX) Email: gbarnhill@silverspruceresources.com Website:
www.silverspruceresources.com Silver Spruce Resources Inc. -
Investor Relations Keir Reynolds Ascenta Capital Partners Inc.
(604) 684-4743 ext.231 or Toll Free: 1-866-684-4743 ext.231 Email:
keir@ascentacapital.com Website: www.ascentacapital.com
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