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Sandspring Resources Ltd.
Summary
| Project: | Toroparu | |
|---|---|---|
| Deposit: | Toroparu | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 9/26/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 26-9-2018: Sandspring Resources Ltd. announces a Resource Estimation report for its Toroparu deposit at the Toroparu project. Updated mineral resource estimate at the project. September 26, 2018 – Denver, Colorado and Vancouver, British Columbia – Sandspr | |
| Resources: | (Resource, M+I): 252Mt @ 0.91g/t Au, 240Mt @ 0.81g/t Ag. 0.084% Cu | |
| CP/QP: | [Resources]: Frank Davies, Allan Moran (RM SME;SRK Consulting) | |
| ABSTRACT: | September 26, 2018 – Denver, Colorado and Vancouver, British Columbia – Sandspring Resources Ltd. (TSX-V: SSP, OTCQX: SSPXF) (the “Company”) is pleased to announce that it has completed an updated Mineral Resource Estimate (the “2018 MRE”) for the Toroparu Project located in Guyana, South America. Highlights to the 2018 MRE include an increase of 459,000 ounces of Measured and Indicated and 60,000 ounces of Inferred Gold Resources compared to the previous Mineral Resource Estimate provided in the 2013 Toroparu Prefeasibility Study (the “Prefeasibility Study”) Rich Munson, CEO stated: “The 2018 MRE for the Toroparu Project incorporates all the drilling results since the Resource Estimate in the Prefeasbility Study, including, most notably the work at Sona Hill. Sona Hill has added significantly to the project, both in terms of the additional 394,000 Measured and Indicated Gold resources, but also in terms of additional production flexibility from the shallow depth and low strip ratio of the deposit as well as the increase in the higher-grade portion of the project amenable to leach process recovery. As noted in our September 11, 2018 press release, these attributes of the Sona Hill Deposit improve the potential for startup of the project with a smaller production profile offering reasonably attractive economics in the current gold market environment while preserving the opportunity to expand the Toroparu Project in the future to the large-scale development potential outlined in the Prefeasibility | |
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