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Sandspring Resources Ltd. announced an update of new gold and copper assay results from drilling in the area of the Toroparu gold-copper deposit in the Republic of Guyana, South America.
On September 15, 2010, Sandspring announced an updated NI 43-101 compliant single optimized open pit shell resource independently modeled by P&E Mining Consultants, Toronto, featuring an Indicated mineral resource of 2.64 million oz. gold and 262 million pounds copper at a grade of 0.83g/t gold and 0.12% copper and an additional Inferred mineral resource of 3.42 million oz. gold and 216 million pounds copper at a grade of 0.76g/t gold and 0.07% copper based on a total drill hole database of 41,659m in 93 holes. The full Technical Report, filed on October 13th, 2010 can be found on www.sedar.com. New assay results from holes TPD129 -- TPD142 comprise an additional 7156m of drilling mainly designed to optimize grade and tonnage parameters and define geologic features within the known NI 43-101 compliant Toroparu gold-copper resource. Assay results from a total of 70,770m of diamond drilling have now been disclosed to date on the Toroparu Property. Abraham Drost, P.Geo., President of Sandspring states... "Infill drilling to Feasibility-ready Measured and/or Indicated resource quality status continues at this time. The current round of infill drill results, particularly bracketed between Holes 131, 134, 136 and 139 confirms the higher quality grade characteristics of a possible "Starter Pit" area identified in previous disclosure (June 3, 2010). An NI 43-01 compliant mineral resource update and Preliminary Economic Assessment showing the preliminary mine plan and pro-forma discounted cash flow model is expected on schedule by the end of Q1, 2011. The Toroparu Deposit remains open along strike and to depth. The Company continues step-out drilling of Toroparu and regional exploration of its Upper Puruni concessions. More information, click here. |
