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Sandspring Resources Ltd.
Summary
| Project: | Toroparu | |
|---|---|---|
| Deposit: | Sona Hill, Wynamu | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 1/26/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 26-1-2018: Sandspring Resources Ltd. announces an Exploration/Drilling Update report for its Sona Hill, Wynamu deposit at the Toroparu project. Drilling results incl. 5.05m @ 12.7g/t Au from 247.5m. January 26, 2018 – Denver, Colorado and Vancouver, Briti | |
| Resources: | ||
| CP/QP: | [Overall Report]: Pascal Van Osta (Internal) | |
| ABSTRACT: | January 26, 2018 – Denver, Colorado and Vancouver, British Columbia – Sandspring Resources Ltd. (SSP: TSX-V) (“Sandspring” or the “Company”) is pleased to announce results from phase one of its 2017 – 2018 exploration program (the “Program”) at its 7.1-million-ounce resource (Measured & Indicated) Toroparu Gold Deposit (“Toroparu”) 1 in Guyana, South America. The Program was announced in the Company’s press release of September 18, 2017. The Sona Hill maiden resource estimate (Feb 2017) increased total resources for the Toroparu project to 7.1 Moz. Measured & Indicated (M&I) and 3.3 Moz. Inferred (Inf) ounces of gold. Significantly, the weathered saprolite gold resource estimate increased by 158% to 218,600 M&I and 330,400 Inferred ounces of gold with the addition of with 50,200 Indicated and 70,400 Inferred ounces from Sona Hill. 1. An analysis by SRK Consulting (US) Inc. conducted in 2017 indicated that a potentially positive economic trade-off exists for an expanded startup saprolite leach operation at Toroparu assuming sufficient saprolite reserves can be defined from the resources defined at Toroparu and Sona Hill. The drilling portion of the Program was designed to target conversion of these resources to reserves and explore for additional mineralization in saprolite and shallow fresh rocks adjacent and within the Sona Hill Resource and Wynamu Prospect Areas. Phase Two of the Program commenced on January 9th and is expected to be completed by March 31st 2018. Phase Two includes 6,350m of infill drilling at Sona Hill targeting conversion of the 241,000 ounces of Inferred gold resource, 1,850m of additional step-out and infill drilling at Wynamu Hill, and 1,600m of exploration drilling at Ameeba Hill. | |
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