Sandspring Announces Filing of Preliminary Economic Assessment Report for Toroparu Project V.SSP | 16 hours ago DENVER and VANCOUVER, British Columbia, July 23, 2019 (GLOBE NEWSWIRE) --
Sandspring Resources Ltd. (TSX Venture: SSP, OTCQX: SSPXF) (“Sandspring”, or the “Company”) is pleased to announce its filing of the Preliminary Economic Assessment Report (the “PEA” or “PEA Report”) for its Toroparu Gold Project in the Mazaruni-Cuyuni District of Guyana (the "Toroparu Project" or “Project”). The PEA Report was prepared in accordance with National Instrument NI43-101 by SRK Consulting (US) Inc. ("SRK") and has been filed on SEDAR and the Company’s website.
The results of the PEA were announced by the Company in its press release (the “June 4 Press Release”) dated June 4, 20191. SRK concludes in the PEA Report that “Given the positive results of the PEA, SRK recommends that the Toroparu Project be advanced to a feasibility study. Given the previous studies already conducted on the Project this could be completed within a 6 to 9-month duration.”
The Toroparu Project has been re-scoped to include the Sona Hill satellite deposit, modification of the Project’s processing strategy to start with gold-only production from a Carbon-in-Leach circuit (“CIL”) for the initial ten years, followed by an expansion of the Project in year 11 to add flotation processing capacity and the streaming agreement with Wheaton Precious Metals International.2 The PEA Report summarizes the results of the re-scoping at base case metal prices of US3 $1,300 gold (Au), $16.00 silver (Ag), $3.00 copper (Cu).
The PEA documentation of mining production quantities supercedes and replaces the 2013 Prefeasibility Study (the “2013 PFS”) Statement of Mineral Reserves4. The PEA is based on exploitation of measured, indicated and inferred mineral resources while the 2013 PFS is based on the exploitation of proven and probable mineral reserves. Inferred resources from the Mineral Resource Estimate identified in the Company’s September 26, 2018 press release5 comprise 5% of the resources used in the production schedule reported in the PEA.
Rich Munson, CEO, stated, “As we noted in the June 4 Press Release, the re-scoping study supports the significant changes to the profile of the Toroparu Project that have occurred since the 2013 PFS was issued. As recommended by SRK, we are now working on final feasibility.”
About Sandspring
Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a feasibility study for the Toroparu Project in Guyana, South America. Sandspring and Wheaton Precious Metals (formerly known as Silver Wheaton) entered into a precious metals purchase agreement for the Toroparu Project in November of 2013. Sandspring also holds a 100% interest in the Chicharrón Gold Project located in the Segovia-Remedios mining district, Antioquia, Colombia. Additional information is available at http://www.sandspringresources.com or by email at sandspringinfo@sandspringresources.com
FOR FURTHER INFORMATION, PLEASE CONTACT: Richard A. Munson Sandspring Resources Ltd. (303) 991-5683 sandspringinfo@sandspringresources.com
Additional information on Sandspring can be viewed on SEDAR under the Company's profile at www.sedar.com or on Sandspring's website at http://www.sandspringresources.com
This press release includes certain forward-looking statements concerning future performance and operations of the Company, including the expected positive results from the Toroparu Project based on the estimates and findings contained in the PEA, as summarized herein, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management at the time such statements are made. All forward-looking statements and information are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, changes in project parameters as plans continue to be refined, uncertainties of project cost overruns or unanticipated costs and expenses, uncertainties inherent in conducting operations in a foreign country, uncertainties related to the availability and costs of financing needed in the future, the risk that the conclusion of pre-production studies may not be accurate, the Company's successful advancement of the Toroparu Project toward feasibility and obtaining positive results from ongoing evaluation and testing of multiple gold targets located elsewhere in the Company's landholdings, among other risks as described in our public filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. Sandspring Resources Ltd. has an ongoing obligation to disclose material information, as it becomes available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
__________________________ 1 The Company issued a press release on June 4, 2019, which can be found at www.sandspringresources.com and www.sedar.com.
2 The Company and Wheaton Precious Metals International Ltd. (“Wheaton”) entered into an Agreement (the (“Wheaton PMPA”) in 2013 which was amended in 2015. The Wheaton PMPA is available on http://www.sedar.com and http://www.sandspringresources.com
3 All references to $ or dollars means United States Dollars.
4 A prefeasibility study was completed in May 2013 (NI 43-101 Technical Report, Prefeasibility Study, Toroparu Gold Project, Upper Puruni River Area, Guyana, dated May 24, 2013 by SRK Consulting (U.S.), Inc., and is available on SEDAR (www.sedar.com)).
5 The Company press released an updated Mineral Resource Estimate on September 26, 2018. The press release can be found at http://www.sandspringresources.com and www.sedar.com.
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Central Banks Will Unleash Inflation and Gold is Headed Above $5,000 Says Peter Schiff (Part 1) 1,536 views Kitco NEWS Published on 30 Jul 2019
Longer-term, gold prices are headed much higher than current levels and could even go to $5,000 an ounce, this according to Peter Schiff, CEO of Euro Pacific Capital.
“I do think that this is the beginning of the breakout of the consolidation that we’ve been in for the last several years, but ultimately I think gold’s going to go quite a bit higher than $5,000,” Schiff told Kitco News.
Gran Colombia Gold TPRFF/GCM is also a Great Mission > has mordernized >100 illegal small gold mines operations to NOT use deadly mercury poison for gold recovery - in the upper Amazon river which had in the past poisoned millions of His people and all living from the Amazon water, fish of His South America nature garden -
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Central Banks Will Unleash Inflation and Gold is Headed Above $5,000 Says Peter Schiff (Part 1) Kitco NEWS Published on 30 Jul 2019
Longer-term, gold prices are headed much higher than current levels and could even go to $5,000 an ounce, this according to Peter Schiff, CEO of Euro Pacific Capital.
“I do think that this is the beginning of the breakout of the consolidation that we’ve been in for the last several years, but ultimately I think gold’s going to go quite a bit higher than $5,000,” Schiff told Kitco News.
Gran Colombia Gold TPRFF/GCM is also a Great Mission > has mordernized >100 illegal small gold mines operations to NOT use deadly mercury poison for gold recovery - in the upper Amazon river which had in the past poisoned millions of His people and all living from the Amazon water, fish of His South America nature garden -
Gran Colombia Gold Corp. - Formerly known as Tapestry Resource Corp. Mordern State of Art Gold and Silver Recovery Systems - are NOT using the deadly mercury - its Great Mission for all involved with Gran Colombia Gold Corporation - thanks in advance to all:
The Moore Volatility The Higher It Will FLY ^^^^ * ^^^^
Gran Colombia Gold Corp. (GCM)(TPRFF) Target 5 > 6 > Higher BreakOut Long OverDue its very oversold -
Gran Colombia Gold set a new record in the first quarter of 2019 (to help illegal artisan miners to not use mercury and to get more gold - to save His people is our Mission) with a total gold production of 60,601 ounces, up 15% over the first quarter of 2018.
BTV & CEO Clips @BTVCeoClips Jun 21 Get a FREE Investor Kit by clicking this link:
Gran Colombia Gold TPRFF/GCM is also a Great Mission > has mordernized >100 illegal small gold mines operations to NOT use deadly mercury poison for gold recovery - in the upper Amazon river which had in the past poisoned millions of His people and all living from the Amazon water, fish of His South America nature garden -
Gran Colombia Gold Corp. - Formerly known as Tapestry Resource Corp. Mordern State of Art Gold and Silver Recovery Systems - are NOT using the deadly mercury - its Great Mission for all involved with Gran Colombia Gold Corporation - thanks in advance to all:
The Moore Volatility The Higher It Will FLY ^^^^ * ^^^^
Gran Colombia Gold Corp. (GCM)(TPRFF) Target 5 > 6 > Higher BreakOut Long OverDue its very oversold -
Gran Colombia Gold set a new record in the first quarter of 2019 (to help illegal artisan miners to not use mercury and to get more gold - to save His people is our Mission) with a total gold production of 60,601 ounces, up 15% over the first quarter of 2018.
BTV & CEO Clips @BTVCeoClips Jun 21 Get a FREE Investor Kit by clicking this link:
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