SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) has 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.
Highlights Include:
- Stepout Hole TPD-116 with 157.5m of 1.0g/t gold and 0.05% copper (100m west)
- Stepout Hole TPD-107 with 276m of 0.73g/t gold (250m west)
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 (3,293,000 ounces gold-equivalent) and an additional Inferred mineral resource of 3.42 million oz. gold and 216 million pounds copper (3,952,000 ounces gold-equivalent based on a total drill hole database of 41,659m in 93 holes.
New assay results from holes TPD105 – TPD116 comprise an additional 8358m of drilling designed to optimize and expand grade and tonnage parameters of the known NI 43-101 compliant Toroparu gold-copper resource and to test continuity at various step-out locations along strike. Along with results for Holes TPD094 – TPD104 reported on November 10, 2010, assay results from a total of 57,286m of diamond drilling have now been disclosed to date on the Toroparu Property.
Abraham Drost, P.Geo., President of Sandspring states…"the latest results represent a back-fill effort within the 350m step-out and possible 23% increase in known strike length of the Toroparu gold-copper deposit announced on November 10, 2010. The latest assay results, which include Hole TPD-116 with 157.5m of 1.0g/t gold and .05% copper drilled 100m west, suggest good continuity of mineralization outside the current resource envelope and ultimate potential for additional resource ounces and a positive effect on overall deposit grade.
Stepout exploration drilling and Infill drilling to Feasibility-ready Measured and/or Indicated resource quality will continue early in the New Year after a well-deserved Christmas break for drillers and on-site staff."
Analytical testing and reporting of quantitative assays was performed independently by Acme Analytical Laboratories Ltd. ("AcmeLabs"). AcmeLabs is an ISO9001:2008 accredited laboratory for the tests reported herein. A system of blanks, standards and duplicates were added to the Toroparu sample stream by the Company to verify accuracy and precision of assay results, supplementing a variety of internal QA/QC tests performed by AcmeLabs.
Mr. Abraham Drost, P.Geo. President of Sandspring and a Qualified Person under NI 43-101, has visited the site and reviewed and approved the technical content of this press release.
Source: SANDSPRING RESOURCES LTD.