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SSP - Sandspring Resources - WKN A0YF1M
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March 22, 2011 Sandspring Announces Positive Preliminary Economic Assessment for Toroparu Gold-Copper Project; Annual Production for First Four Years of 310,000 oz Gold and 29 Million Pounds Copper at Average Cash Cost of $317/oz Gold (net of copper credit)
March 21, 2011 Sandspring's NI 43-101 Compliant Mineral Resource Update for the Toroparu Project shows 32% increase in Measured & Indicated and 40% increase in Inferred Gold and Copper Content
March 16, 2011 Sandspring infill drill results from the Toroparu gold-copper deposit includes 114m of 1.93g/t gold and 0.07% copper in Hole 136; NI 43-101 compliant mineral resource update and PEA expected by end of Q1
February 03, 2011 Sandspring presents drill results from Holes TPD117 to TPD128 at the Toroparu gold-copper deposit and a 350m deposit model extension
January 20, 2011 Sandspring Establishes Exploration & Development Office in Guyana
January 06, 2011 Sandspring Appoints David Constable to Board and Greg Barnes as Executive Vice President
December 15, 2010 Sandspring drill results from Holes TPD105-TPD116 includes 157.5m of 1.0g/t gold and 0.05% copper along strike from Toroparu gold-copper deposit
November 18, 2010 Sandspring Appoints New CFO
November 10, 2010 Sandspring drill results from Holes TPD94 -TPD104 includes deposit grade values 350m along strike on stepout from Toroparu gold-copper deposit
October 25, 2010 Sandspring Grants Stock Options
March 21, 2011 Sandspring's NI 43-101 Compliant Mineral Resource Update for the Toroparu Project shows 32% increase in Measured & Indicated and 40% increase in Inferred Gold and Copper Content
March 16, 2011 Sandspring infill drill results from the Toroparu gold-copper deposit includes 114m of 1.93g/t gold and 0.07% copper in Hole 136; NI 43-101 compliant mineral resource update and PEA expected by end of Q1
February 03, 2011 Sandspring presents drill results from Holes TPD117 to TPD128 at the Toroparu gold-copper deposit and a 350m deposit model extension
January 20, 2011 Sandspring Establishes Exploration & Development Office in Guyana
January 06, 2011 Sandspring Appoints David Constable to Board and Greg Barnes as Executive Vice President
December 15, 2010 Sandspring drill results from Holes TPD105-TPD116 includes 157.5m of 1.0g/t gold and 0.05% copper along strike from Toroparu gold-copper deposit
November 18, 2010 Sandspring Appoints New CFO
November 10, 2010 Sandspring drill results from Holes TPD94 -TPD104 includes deposit grade values 350m along strike on stepout from Toroparu gold-copper deposit
October 25, 2010 Sandspring Grants Stock Options
March 22, 2011
Sandspring Announces Positive Preliminary Economic Assessment for Toroparu Gold-Copper Project; Annual Production for First Four Years of 310,000 oz Gold and 29 Million Pounds Copper at Average Cash Cost of $317/oz Gold (net of copper credit)
March 22, 2011, Toronto, ON - SANDSPRING RESOURCES LTD. (SSP:TSX.V; SSPXF.PK:OTC; SRX:MU,F) (the Company) is pleased to announce receipt of a positive Preliminary Economic Assessment (PEA) for development of its 100% owned Toroparu gold-copper Project in the Republic of Guyana, South America (Toroparu Project).
The independent NI 43-101 compliant Preliminary Economic Assessment prepared by P&E Mining Consultants Inc. of Brampton, Ontario (P&E) envisions a phased open pit mine plan, a 33,000 tonnes per day mill and associated infrastructure with life of mine production of 3.83 million ounces gold and 308 million pounds of copper. Annual production over the first four years of operation is expected to average 310,000 ounces gold and 29 million pounds of copper.
The economic assessment is based on discounted cash flow analysis of a project designed to process 1.05 million (M) tonnes/year of saprolite over the initial seven years of production, and 10.5 M tonnes/year of fresh rock for the full 13-year mine life. Use of an elevated cutoff grade of 0.5 g/t AuEq in the 13-year mine life results in improved early cash flows and leads to creation of a low-grade stockpile which is expected to be processed in years 14 to 17. Based on the favourable economics seen in this study P&E recommends that the Company advances the Toroparu Project to the Definitive Feasibility (DFS) stage. All currency amounts in this press release are denominated in United States Dollars ($).
The base case discounted cash flow was conducted at the 24-month trailing average Au price of $1,137 per ounce and Cu price of $3.13 per pound on the effective date of February 28th, 2011.
http://www.sandspringresources.com/s/PressReleases.asp?ReportID=448391&_Type=Press-Releases&_Title=Sandspring-Announces-Positive-Preliminary-Economic-Assessment-for-Toroparu-...
Project Highlights
Life of mine1 pre-tax net present value (NPV 5%) of $854 M and IRR of 24.5%.
Life of mine1 production of 3.83 M oz Gold and 308 M lb Copper.
3.2 year payback of $617 M pre-production Capital Expenditures.
Annual production of 310,000 ozs Gold and 29 M lbs. Copper averaged over payback (years 1-4).
Annual production of 273,000 ozs Gold and 20 M lbs. Copper averaged over open pit mining operations (years 1-13).
Cash cost of $317/oz Au (net of by-product copper credit) averaged over first four years of operation (pre-tax).
Cash cost of $424/oz Au (net of by-product copper credit) averaged over the 13 year open pit mining operations.
Separate processing circuits for saprolite (3,000 tpd) and fresh rock (30,000 tpd).
Upgrade existing road and air infrastructure and development of purpose built port facilities on Essequibo River.
Environmental permitting process is at an advanced stage.
1) Definition of Life of Mine includes 13-year life of pit plus 4-year stockpile reclamation and processing periods.
Economic Analysis
Sandspring Announces Positive Preliminary Economic Assessment for Toroparu Gold-Copper Project; Annual Production for First Four Years of 310,000 oz Gold and 29 Million Pounds Copper at Average Cash Cost of $317/oz Gold (net of copper credit)
March 22, 2011, Toronto, ON - SANDSPRING RESOURCES LTD. (SSP:TSX.V; SSPXF.PK:OTC; SRX:MU,F) (the Company) is pleased to announce receipt of a positive Preliminary Economic Assessment (PEA) for development of its 100% owned Toroparu gold-copper Project in the Republic of Guyana, South America (Toroparu Project).
The independent NI 43-101 compliant Preliminary Economic Assessment prepared by P&E Mining Consultants Inc. of Brampton, Ontario (P&E) envisions a phased open pit mine plan, a 33,000 tonnes per day mill and associated infrastructure with life of mine production of 3.83 million ounces gold and 308 million pounds of copper. Annual production over the first four years of operation is expected to average 310,000 ounces gold and 29 million pounds of copper.
The economic assessment is based on discounted cash flow analysis of a project designed to process 1.05 million (M) tonnes/year of saprolite over the initial seven years of production, and 10.5 M tonnes/year of fresh rock for the full 13-year mine life. Use of an elevated cutoff grade of 0.5 g/t AuEq in the 13-year mine life results in improved early cash flows and leads to creation of a low-grade stockpile which is expected to be processed in years 14 to 17. Based on the favourable economics seen in this study P&E recommends that the Company advances the Toroparu Project to the Definitive Feasibility (DFS) stage. All currency amounts in this press release are denominated in United States Dollars ($).
The base case discounted cash flow was conducted at the 24-month trailing average Au price of $1,137 per ounce and Cu price of $3.13 per pound on the effective date of February 28th, 2011.
http://www.sandspringresources.com/s/PressReleases.asp?ReportID=448391&_Type=Press-Releases&_Title=Sandspring-Announces-Positive-Preliminary-Economic-Assessment-for-Toroparu-...
Project Highlights
Life of mine1 pre-tax net present value (NPV 5%) of $854 M and IRR of 24.5%.
Life of mine1 production of 3.83 M oz Gold and 308 M lb Copper.
3.2 year payback of $617 M pre-production Capital Expenditures.
Annual production of 310,000 ozs Gold and 29 M lbs. Copper averaged over payback (years 1-4).
Annual production of 273,000 ozs Gold and 20 M lbs. Copper averaged over open pit mining operations (years 1-13).
Cash cost of $317/oz Au (net of by-product copper credit) averaged over first four years of operation (pre-tax).
Cash cost of $424/oz Au (net of by-product copper credit) averaged over the 13 year open pit mining operations.
Separate processing circuits for saprolite (3,000 tpd) and fresh rock (30,000 tpd).
Upgrade existing road and air infrastructure and development of purpose built port facilities on Essequibo River.
Environmental permitting process is at an advanced stage.
1) Definition of Life of Mine includes 13-year life of pit plus 4-year stockpile reclamation and processing periods.
Economic Analysis
Analyst Coverage
Mining analysts with independent coverage on Sandspring Resources Ltd. Presented for information purposes only. Analysts should be contacted directly for any questions arising.
Salman Partners
David West - Investment Analyst
dwest@salmanpartners.com
Contact: 604-622-5569
Date of Issue: June 30th, 2010
Target Price: CDN$ 3.25
Mackie Research Capital
Barry Allan - Mining Analyst
ballan@mackieresearchcapital.com
Contact: 416-860-7612
Date of Issue: Jan. 11, 2011
Target Price: CDN$ 6.80
Jennings Capital
Stuart MacDougall -- Mining Analyst
stuart.mcdougall@jenningscapital.com
Contact: (416) 304-2176
Date of Issue: Feb. 16, 2011
Target Price: CDN$ 5.25
Mining analysts with independent coverage on Sandspring Resources Ltd. Presented for information purposes only. Analysts should be contacted directly for any questions arising.
Salman Partners
David West - Investment Analyst
dwest@salmanpartners.com
Contact: 604-622-5569
Date of Issue: June 30th, 2010
Target Price: CDN$ 3.25
Mackie Research Capital
Barry Allan - Mining Analyst
ballan@mackieresearchcapital.com
Contact: 416-860-7612
Date of Issue: Jan. 11, 2011
Target Price: CDN$ 6.80
Jennings Capital
Stuart MacDougall -- Mining Analyst
stuart.mcdougall@jenningscapital.com
Contact: (416) 304-2176
Date of Issue: Feb. 16, 2011
Target Price: CDN$ 5.25
Press Releases
Email 'Sandspring's NI 43-101 Compliant Mineral Resource ...' to a friendShow printable version of 'Sandspring's NI 43-101 Compliant Mineral Resource ...' in a New Window
March 21, 2011
Sandspring's NI 43-101 Compliant Mineral Resource Update for the Toroparu Project shows 32% increase in Measured & Indicated and 40% increase in Inferred Gold and Copper Content
March 21, 2011 - SANDSPRING RESOURCES LTD. (SSP: TSX-V) ("Sandspring" or the "Company") is pleased to announce completion of an updated NI 43-101 compliant mineral resource estimate for the Toroparu gold-copper deposit in the Republic of Guyana, South America.
The latest mineral resource estimate for the Toroparu gold-copper deposit, independently modeled by P&E Mining Consultants Inc. ("P&E"), Toronto as a potentially open-pittable deposit within a single optimized open pit shell at an economic cutoff grade of 0.24g/t gold-equivalent (AuEq) contains the following mineral resource classification:
A Measured and Indicated mineral resource of 3.51 million oz. gold and 330 million pounds copper (4.35 million ounces gold-equivalent) contained within 151.9 million tonnes at a grade of 0.72 g/t gold and 0.10% copper (Table 1).
An additional Inferred mineral resource of 4.93 million oz. gold and 236 million pounds copper (5.53 million ounces gold-equivalent) is contained within 214.8 million tonnes at a grade of 0.71 g/t gold and 0.05% copper (Table 1).
Highlights include:
The conversion of 0.84 million ounces of gold and 90 million lbs of copper (1.06 million ounces gold-equivalent) to the "Measured" Resource category.
The addition of approximately 2.11 million ounces of gold and 19.5 million lbs of copper in the Inferred Resource category.
A sensitivity comparison of the new mineral resource estimate within a single optimized open pit shell at a 0.42 g/t AuEq cut off grade (economic cut-off used in Sept 15, 2010 resource update - Table 2).
Presentation of an unconstrained (in- and out-of-pit) global mineralized inventory sensitivity at the current economic (0.24g/t AuEq) cutoff grade (Table 3).
Abraham Drost, P.Geo. President of Sandspring states: "The latest NI 43-101 compliant Mineral Resource update for Sandspring's Toroparu gold-copper deposit caps a year of incredible resource growth performance.
Presentation of the optimized pit sensitivity at cutoff constrained to 0.42g/t AuEq the same as the last resource update on September 15, 2010 in Table 2 is intended to show the organic growth of approximately 800,000 oz gold Indicated and 600,000 oz gold Inferred defined within in the deposit since the last resource update. Higher two-year trailing average metal prices and more accurate processing & G&A costs in the current optimized pit mineral resource (Table 1) added additional gold and copper at the lower economic cut-off.
The newest single open pit optimized resource model is still open to depth and along strike. Considerable growth potential remains in the immediate resource area and within prospective target areas that Sandspring is actively exploring within its larger Upper Puruni concessions.
The updated mineral resource forms the basis for an NI 43-101 compliant Preliminary Economic Assessment including preliminary mine plan and pro-forma cash flow model that the Company and P&E Mining Consultants Inc. are preparing for the Toroparu deposit".
http://www.sandspringresources.com/s/PressReleases.asp?ReportID=448281&_Type=Press-Releases&_Title=Sandsprings-NI-43-101-Compliant-Mineral-Resource-Update-for-the-Toroparu-Pr...
Email 'Sandspring's NI 43-101 Compliant Mineral Resource ...' to a friendShow printable version of 'Sandspring's NI 43-101 Compliant Mineral Resource ...' in a New Window
March 21, 2011
Sandspring's NI 43-101 Compliant Mineral Resource Update for the Toroparu Project shows 32% increase in Measured & Indicated and 40% increase in Inferred Gold and Copper Content
March 21, 2011 - SANDSPRING RESOURCES LTD. (SSP: TSX-V) ("Sandspring" or the "Company") is pleased to announce completion of an updated NI 43-101 compliant mineral resource estimate for the Toroparu gold-copper deposit in the Republic of Guyana, South America.
The latest mineral resource estimate for the Toroparu gold-copper deposit, independently modeled by P&E Mining Consultants Inc. ("P&E"), Toronto as a potentially open-pittable deposit within a single optimized open pit shell at an economic cutoff grade of 0.24g/t gold-equivalent (AuEq) contains the following mineral resource classification:
A Measured and Indicated mineral resource of 3.51 million oz. gold and 330 million pounds copper (4.35 million ounces gold-equivalent) contained within 151.9 million tonnes at a grade of 0.72 g/t gold and 0.10% copper (Table 1).
An additional Inferred mineral resource of 4.93 million oz. gold and 236 million pounds copper (5.53 million ounces gold-equivalent) is contained within 214.8 million tonnes at a grade of 0.71 g/t gold and 0.05% copper (Table 1).
Highlights include:
The conversion of 0.84 million ounces of gold and 90 million lbs of copper (1.06 million ounces gold-equivalent) to the "Measured" Resource category.
The addition of approximately 2.11 million ounces of gold and 19.5 million lbs of copper in the Inferred Resource category.
A sensitivity comparison of the new mineral resource estimate within a single optimized open pit shell at a 0.42 g/t AuEq cut off grade (economic cut-off used in Sept 15, 2010 resource update - Table 2).
Presentation of an unconstrained (in- and out-of-pit) global mineralized inventory sensitivity at the current economic (0.24g/t AuEq) cutoff grade (Table 3).
Abraham Drost, P.Geo. President of Sandspring states: "The latest NI 43-101 compliant Mineral Resource update for Sandspring's Toroparu gold-copper deposit caps a year of incredible resource growth performance.
Presentation of the optimized pit sensitivity at cutoff constrained to 0.42g/t AuEq the same as the last resource update on September 15, 2010 in Table 2 is intended to show the organic growth of approximately 800,000 oz gold Indicated and 600,000 oz gold Inferred defined within in the deposit since the last resource update. Higher two-year trailing average metal prices and more accurate processing & G&A costs in the current optimized pit mineral resource (Table 1) added additional gold and copper at the lower economic cut-off.
The newest single open pit optimized resource model is still open to depth and along strike. Considerable growth potential remains in the immediate resource area and within prospective target areas that Sandspring is actively exploring within its larger Upper Puruni concessions.
The updated mineral resource forms the basis for an NI 43-101 compliant Preliminary Economic Assessment including preliminary mine plan and pro-forma cash flow model that the Company and P&E Mining Consultants Inc. are preparing for the Toroparu deposit".
http://www.sandspringresources.com/s/PressReleases.asp?ReportID=448281&_Type=Press-Releases&_Title=Sandsprings-NI-43-101-Compliant-Mineral-Resource-Update-for-the-Toroparu-Pr...
Very interesting move by Barrick today..most note this is very unusual for Barrick to buy a company that also has copper assets.
With that in mind...SSP has 330m pounds of Copper M&I plus another 236 m pounds inferred.
IMO, SSP just became that much more of an acquisition target.
Barrick tries spinning copper into gold
Apr 25, 2011 15:14 EDT
inShare
By Lisa Lee
Barrick Gold has taken a shine to copper. The Canadian firm jumped into the battle for Equinox, with a $7.7 billion bid that trumps one from China’s Minmetals. It’s a rich offer for a copper miner from a company that mainly touts its gold credentials. Barrick’s shift as the prices of both metals soar may not be the best use of resources.
With that in mind...SSP has 330m pounds of Copper M&I plus another 236 m pounds inferred.
IMO, SSP just became that much more of an acquisition target.
Barrick tries spinning copper into gold
Apr 25, 2011 15:14 EDT
inShare
By Lisa Lee
Barrick Gold has taken a shine to copper. The Canadian firm jumped into the battle for Equinox, with a $7.7 billion bid that trumps one from China’s Minmetals. It’s a rich offer for a copper miner from a company that mainly touts its gold credentials. Barrick’s shift as the prices of both metals soar may not be the best use of resources.
Sandspring Provides Update on Receipt of NI 43-101 Technical Report
May 11, 2011 (Marketwire) --
LONDON, UNITED KINGDOM -- (Marketwire) -- 05/11/11 -- SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce the publication of an updated NI 43-101 technical report titled "TECHNICAL REPORT, UPDATED RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT OF THE TOROPARU GOLD-COPPER DEPOSIT, UPPER PURUNI RIVER AREA, GUYANA" (NI 43-101 & 43-101F1, P&E Report No. 208)".
This report supports the latest Mineral Resource Update and the Preliminary Economic Assessment of the Toroparu Gold-Copper Project, released on the March 21, 2011 and March 22, 2011, respectively. The document may be found under Company's profile at www.sedar.com or on the Company's website at www.sandspringresources.com.
Sandspring is presently drilling with four diamond drill rigs at its Toroparu project and in surrounding areas. The drilling will expand resources within the Toroparu deposit area, and test new targets to the Northwest of Toroparu where anomalous gold values have been found in collected geochemical soil samples. Sandspring's Vice-President of Exploration, Mr. Werner Claessens, states: "there is good potential to find extensions of the existing deposit and satellite deposits in the Toroparu area and a new deposit elsewhere on the Upper Puruni concession." An additional 60,000m of drilling is planned for this year that will include some infill drilling as Sandspring prepares for its Definitive Feasibility Study. However, the emphasis of the 2011 drill campaign will be to identify resource growth and drill new targets. Pre-feasibility level testing of metallurgical and geotechnical parameters is also underway. Additional drill assay results are pending.
Sandspring is also pleased to announce that on May 5th the Company hosted an industry analyst tour of the Toroparu Project.
Parties in attendance included:
Michael Curran - RBC Capital Markets
Trevor Turnbull - Scotia Capital Inc.
Richard Gray - Cormark Securities Inc.
Stuart McDougall - Jennings Capital Inc.
Anja Soderstrom - Dahlman Rose & Company, LLC
Adam Dorfman - UBS Securities Canada Inc.
Pierre Vaillancourt - Macquarie Capital Markets Canada Ltd.
May 11, 2011 (Marketwire) --
LONDON, UNITED KINGDOM -- (Marketwire) -- 05/11/11 -- SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce the publication of an updated NI 43-101 technical report titled "TECHNICAL REPORT, UPDATED RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT OF THE TOROPARU GOLD-COPPER DEPOSIT, UPPER PURUNI RIVER AREA, GUYANA" (NI 43-101 & 43-101F1, P&E Report No. 208)".
This report supports the latest Mineral Resource Update and the Preliminary Economic Assessment of the Toroparu Gold-Copper Project, released on the March 21, 2011 and March 22, 2011, respectively. The document may be found under Company's profile at www.sedar.com or on the Company's website at www.sandspringresources.com.
Sandspring is presently drilling with four diamond drill rigs at its Toroparu project and in surrounding areas. The drilling will expand resources within the Toroparu deposit area, and test new targets to the Northwest of Toroparu where anomalous gold values have been found in collected geochemical soil samples. Sandspring's Vice-President of Exploration, Mr. Werner Claessens, states: "there is good potential to find extensions of the existing deposit and satellite deposits in the Toroparu area and a new deposit elsewhere on the Upper Puruni concession." An additional 60,000m of drilling is planned for this year that will include some infill drilling as Sandspring prepares for its Definitive Feasibility Study. However, the emphasis of the 2011 drill campaign will be to identify resource growth and drill new targets. Pre-feasibility level testing of metallurgical and geotechnical parameters is also underway. Additional drill assay results are pending.
Sandspring is also pleased to announce that on May 5th the Company hosted an industry analyst tour of the Toroparu Project.
Parties in attendance included:
Michael Curran - RBC Capital Markets
Trevor Turnbull - Scotia Capital Inc.
Richard Gray - Cormark Securities Inc.
Stuart McDougall - Jennings Capital Inc.
Anja Soderstrom - Dahlman Rose & Company, LLC
Adam Dorfman - UBS Securities Canada Inc.
Pierre Vaillancourt - Macquarie Capital Markets Canada Ltd.
John Kaiser Thinks That $1,200-plus Gold Is New Normal
..
JK: Sandspring Resources Ltd. (TSX.V:SSP) is an example. It started off as an alluvial gold
operation in Guyana. The company ended up going public and raising capital to focus on the bedrock
potential, thereby developing a large gold resource with a minor copper credit. Sandspring just
completed a preliminary economic assessment using current pricing that suggests the project is worth
about $900M. Yet the market valuation is about $300M. That gives you three to five times upside
potential if there are no glitches in the pre-feasibility study and current metal prices get nailed to the
wall.<i></i>
http://oakshirefinancial.com/2011/05/16/john-kaiser-thinks-that-1200-plus-gold-is-new-normal/
..
JK: Sandspring Resources Ltd. (TSX.V:SSP) is an example. It started off as an alluvial gold
operation in Guyana. The company ended up going public and raising capital to focus on the bedrock
potential, thereby developing a large gold resource with a minor copper credit. Sandspring just
completed a preliminary economic assessment using current pricing that suggests the project is worth
about $900M. Yet the market valuation is about $300M. That gives you three to five times upside
potential if there are no glitches in the pre-feasibility study and current metal prices get nailed to the
wall.<i></i>
http://oakshirefinancial.com/2011/05/16/john-kaiser-thinks-that-1200-plus-gold-is-new-normal/
May 24, 2011 09:00 ET
Sandspring Infill Drill Results from the Toroparu Gold-Copper Deposit Includes 181.5 m of 1.17g/t Gold and 0.15 % Copper in TPD 168
TORONTO, ONTARIO--(Marketwire - May 24, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce new gold and copper assay results (summarized in Table 1) from a recently completed infill-drilling program at the Toroparu Gold-copper Deposit in the Republic of Guyana, South America.
The analytical results for drill-holes TPD156 - TPD170 comprise the final 6,150 meters of drilling that completes an infill-drill program recommended by P&E Mining Consultants Inc. of Brampton, Ontario (P&E). The infill drill program was designed to better define the geological controls, optimize grade and improve classification of the Inferred Resource contained in the Potentially Mineable Portion of the Toroparu Resource as disclosed in the independent 43-101 compliant Updated Resource Estimate and Preliminary Economic Assessment of the Toroparu Gold-Copper Deposit, Technical Report No. 208, signed by P&E on May 5th, 2011. A total of 19,572 meters of results have now been reported from the completion of the recommended infill-drill program, and 83,186 meters reported on the Toroparu Gold – Copper Deposit.
Following the completion of the infill program in March 2011, exploratory drilling programs focused on testing the potential of the mineralized domains along trend in the Northwest, West-Northwest, and Southeast portions of the Toroparu Deposit area.
The Company is presently drilling with four drills to optimize the Toroparu Resource and to test exploration targets within the 6 km long, west-northwesterly trending structural corridor. A regional sampling and mapping program is ongoing across the Company's larger Upper Puruni Concession with the objective of identifying new targets for drilling.
An additional 60,000m of drilling is planned for the remainder of 2011 for both exploration purposes and preparation of a Definitive Feasibility Study of the Toroparu Resource.
Table 1: Summary of Gold/Copper intercepts, holes TPD156-170
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.
http://www.marketwire.com/press-release/sandspring-infill-drill-results-from-toroparu-gold-copper-deposit-includes-1815-m-117g-tsx-venture-ssp-1518156.htm
Sandspring Infill Drill Results from the Toroparu Gold-Copper Deposit Includes 181.5 m of 1.17g/t Gold and 0.15 % Copper in TPD 168
TORONTO, ONTARIO--(Marketwire - May 24, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce new gold and copper assay results (summarized in Table 1) from a recently completed infill-drilling program at the Toroparu Gold-copper Deposit in the Republic of Guyana, South America.
The analytical results for drill-holes TPD156 - TPD170 comprise the final 6,150 meters of drilling that completes an infill-drill program recommended by P&E Mining Consultants Inc. of Brampton, Ontario (P&E). The infill drill program was designed to better define the geological controls, optimize grade and improve classification of the Inferred Resource contained in the Potentially Mineable Portion of the Toroparu Resource as disclosed in the independent 43-101 compliant Updated Resource Estimate and Preliminary Economic Assessment of the Toroparu Gold-Copper Deposit, Technical Report No. 208, signed by P&E on May 5th, 2011. A total of 19,572 meters of results have now been reported from the completion of the recommended infill-drill program, and 83,186 meters reported on the Toroparu Gold – Copper Deposit.
Following the completion of the infill program in March 2011, exploratory drilling programs focused on testing the potential of the mineralized domains along trend in the Northwest, West-Northwest, and Southeast portions of the Toroparu Deposit area.
The Company is presently drilling with four drills to optimize the Toroparu Resource and to test exploration targets within the 6 km long, west-northwesterly trending structural corridor. A regional sampling and mapping program is ongoing across the Company's larger Upper Puruni Concession with the objective of identifying new targets for drilling.
An additional 60,000m of drilling is planned for the remainder of 2011 for both exploration purposes and preparation of a Definitive Feasibility Study of the Toroparu Resource.
Table 1: Summary of Gold/Copper intercepts, holes TPD156-170
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.
.
http://www.marketwire.com/press-release/sandspring-infill-drill-results-from-toroparu-gold-copper-deposit-includes-1815-m-117g-tsx-venture-ssp-1518156.htm
One of the best, nicht nur bzgl. der Promo und IR; die aktuelle Präsentation wie immer einen Blick wert:
http://www.sandspringresources.com/i/pdf/SSP-Presentation.pdf
http://www.sandspringresources.com/i/pdf/SSP-Presentation.pdf
July 07, 2011 09:28 ET
Sandspring Resources Ltd. Announces Infill Drill Results From Its Toroparu Gold-Copper Deposit That Includes 121.5 m of 1.44 g/t Gold and 0.28 % Copper in TPD 182
TORONTO, ONTARIO--(Marketwire - July 7, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further encouraging gold and copper assay results (summarized in Table 1) from a recently completed infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America.
Infill drill results, comprising an additional 2,590m of drilling from drill holes TPD171, 173, 176, 178, and 182, continue to confirm the Toroparu Gold-Copper project and provide evidence to extend the resource. Based on these results, the original infill drill program has been reviewed and extended in areas where additional resources are expected laterally and to depth. A total of 22,162 meters of results have now been reported from completion of recommended infill- drilling.
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http://www.marketwire.com/press-release/sandspring-resources-ltd-announces-infill-drill-results-from-its-toroparu-gold-copper-tsx-venture-ssp-1535657.htm
Sandspring Resources Ltd. Announces Infill Drill Results From Its Toroparu Gold-Copper Deposit That Includes 121.5 m of 1.44 g/t Gold and 0.28 % Copper in TPD 182
TORONTO, ONTARIO--(Marketwire - July 7, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further encouraging gold and copper assay results (summarized in Table 1) from a recently completed infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America.
Infill drill results, comprising an additional 2,590m of drilling from drill holes TPD171, 173, 176, 178, and 182, continue to confirm the Toroparu Gold-Copper project and provide evidence to extend the resource. Based on these results, the original infill drill program has been reviewed and extended in areas where additional resources are expected laterally and to depth. A total of 22,162 meters of results have now been reported from completion of recommended infill- drilling.
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http://www.marketwire.com/press-release/sandspring-resources-ltd-announces-infill-drill-results-from-its-toroparu-gold-copper-tsx-venture-ssp-1535657.htm
August 25, 2011 09:53 ET
Sandspring Resources Ltd. Extends Resource Envelope by 500 Metres Along Strike and Reports Drilling Results That Include 117 m of 1.49 g/t Gold and 0.10% Copper in TPD 216
TORONTO, ONTARIO--(Marketwire - Aug. 25, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce that an expansion and extended infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America continues to provide economic gold and copper assay results (summarized in Table 1).
Results from Holes TPD 184-223 represent an additional 14,628 m of core drilling within the Toroparu Gold-Copper Deposit area (Fig. 1). A total of 36,790 m of results have now been reported from the current round of infill, step-out and off-trend exploration target drilling. The results continue to provide evidence to extend and enhance the Toroparu Gold-Copper Deposit resource in depth, laterally and along strike. A total of 106,506 m of diamond core drill results have now been reported from the Toroparu Gold-Copper Deposit area.
The Company maintains a flexible, results-driven infill and step-out drill program within the Toroparu Gold-Copper Deposit area. The objective of this program is to optimize the existing measured and indicated resource grade and explore the open extent of the resource in preparation for Pre-Feasibility and Definitive Feasibility engineering of the Toroparu Gold-Copper project.
http://www.marketwire.com/press-rel....x-venture-ssp-1553723.htm
Sandspring Resources Ltd. Extends Resource Envelope by 500 Metres Along Strike and Reports Drilling Results That Include 117 m of 1.49 g/t Gold and 0.10% Copper in TPD 216
TORONTO, ONTARIO--(Marketwire - Aug. 25, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce that an expansion and extended infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America continues to provide economic gold and copper assay results (summarized in Table 1).
Results from Holes TPD 184-223 represent an additional 14,628 m of core drilling within the Toroparu Gold-Copper Deposit area (Fig. 1). A total of 36,790 m of results have now been reported from the current round of infill, step-out and off-trend exploration target drilling. The results continue to provide evidence to extend and enhance the Toroparu Gold-Copper Deposit resource in depth, laterally and along strike. A total of 106,506 m of diamond core drill results have now been reported from the Toroparu Gold-Copper Deposit area.
The Company maintains a flexible, results-driven infill and step-out drill program within the Toroparu Gold-Copper Deposit area. The objective of this program is to optimize the existing measured and indicated resource grade and explore the open extent of the resource in preparation for Pre-Feasibility and Definitive Feasibility engineering of the Toroparu Gold-Copper project.
http://www.marketwire.com/press-rel....x-venture-ssp-1553723.htm
Tradingdepot-Wert Sandspring Resources (T.SSP)
Weiterhin auf BUY(/HOLD), die letzten Ergebnisse vom Flaggschiff-Projekt waren hervorragend
Sandspring Resources Ltd. Extends Resource Envelope by 500 Metres Along Strike and Reports
Drilling Results That Include 117 m of 1.49 g/t Gold and 0.10% Copper in TPD 216
http://www.finanznachrichten.de/nachrichten-2011-08/21174679-sandspring-resources-ltd-extends-resource-envelope-by-500-metres-along-strike-and-reports-drilling-results-that-include-117-m-of-1-49-g-t-gold-and-0-256.htm
"..Abraham Drost, P. Geo., President of Sandspring states... Additional infill drilling appears to confirm
that higher grade gold mineralization is preferentially concentrated along broad corridors within the
Toroparu Gold-Copper Deposit. This has positive implications for ongoing pre-feasibility resource
optimization and mine planning and more rapid payback of pre-production capital at the Toroparu
Gold-Copper project. In addition, indications of a significant deposit extension to the northwest
continue to add to the future development pipeline within the Toroparu Gold-Copper mineralized
system.."
Story ist voll auf Kurs, Sandspring kann exzellente long term fundamentals vorweisen!
Etliche catalysts die nächsten Wochen/Monate anstehend, die saisonal heiße Phase startet erst:
# SSP @ Rodman & Renshaw Annual Global Investment Conference - September 11-13, 2011
http://www.rodm.com/conferences?id=164
# Large-scale Production Potential at Toroparu
(Feb 2011 Preliminary Assessment valuation: $854 M pre-tax NPV5% )
# Environmental authorization pending –Q3 2011
# Recruitment of mine development team in progress
# Pre-feasibility level engineering in progress
# Diamond rigs drilling up to 10,000 meters per month (step-out & Infill holes) --> newsflow
# 4 regional soil sampling crews conducting regional ICP geochemical surveys of prospective areas
Big Picture:
12-Months Chart:
Weiterhin auf BUY(/HOLD), die letzten Ergebnisse vom Flaggschiff-Projekt waren hervorragend
Sandspring Resources Ltd. Extends Resource Envelope by 500 Metres Along Strike and Reports
Drilling Results That Include 117 m of 1.49 g/t Gold and 0.10% Copper in TPD 216
http://www.finanznachrichten.de/nachrichten-2011-08/21174679-sandspring-resources-ltd-extends-resource-envelope-by-500-metres-along-strike-and-reports-drilling-results-that-include-117-m-of-1-49-g-t-gold-and-0-256.htm
"..Abraham Drost, P. Geo., President of Sandspring states... Additional infill drilling appears to confirm
that higher grade gold mineralization is preferentially concentrated along broad corridors within the
Toroparu Gold-Copper Deposit. This has positive implications for ongoing pre-feasibility resource
optimization and mine planning and more rapid payback of pre-production capital at the Toroparu
Gold-Copper project. In addition, indications of a significant deposit extension to the northwest
continue to add to the future development pipeline within the Toroparu Gold-Copper mineralized
system.."
Story ist voll auf Kurs, Sandspring kann exzellente long term fundamentals vorweisen!
Etliche catalysts die nächsten Wochen/Monate anstehend, die saisonal heiße Phase startet erst:
# SSP @ Rodman & Renshaw Annual Global Investment Conference - September 11-13, 2011
http://www.rodm.com/conferences?id=164
# Large-scale Production Potential at Toroparu
(Feb 2011 Preliminary Assessment valuation: $854 M pre-tax NPV5% )
# Environmental authorization pending –Q3 2011
# Recruitment of mine development team in progress
# Pre-feasibility level engineering in progress
# Diamond rigs drilling up to 10,000 meters per month (step-out & Infill holes) --> newsflow
# 4 regional soil sampling crews conducting regional ICP geochemical surveys of prospective areas
Big Picture:
12-Months Chart:
T.SSP @ The Gold Report - Expert Analysis
Barry Allan, Mackie Research (8/26/11) "Increasing resource confidence and size: Sandspring
Resources Ltd. released results for 39 new drill holes (TPD 184-223), 13 of which were in-fill holes
(drilled within the established resource outline), 7 of which extended the envelope of mineralization
an additional 500m to the northwest and 3 tested a separate area of mineralization to the
southeast. . .of the drill holes recently released, ~13 holes were drilled within an area where there
is the potential for a higher grade core that might serve as mill-feed in the early years of a mine
plan. . .the company remains undervalued, continuing to trade at 0.24x on a P/NAVPS basis versus
a peer group average of 0.54x, and at $23/oz. on a market cap to in-situ ounce basis versus an
average of $68/oz. from the same development peer group.."
The Gold Report Interview with Charles Oliver (8/22/11) "Sandspring has about 6 Moz. in a
resource and did a PEA this past May with a potential 5.4 Moz. resource, so it's starting to get fairly
big and fairly significant. Sandspring's market cap is a fraction of the value of most gold companies
of its size. If someone comes in and takes out Guyana Gold, which I do believe will happen,
Sandspring probably will get a bump in its valuation and lift in its share price, as will most gold
companies operating in Guyana.."
Laurence Curtis, Clarus Securities (8/4/11) "We are initiating coverage on Sandspring Resources
Ltd. with a Speculative Buy recommendation and a CAD$5 target price; the company's long history
in Guyana has a positive impact on its political standing and while financing of the project is the
greatest risk, prudent strategies have been proposed and should prove successful. We see plenty
of upside at Toroparu, with an extensive 1,000-sq.-km. land package in a prolific region and a
robust ore body that has consistently converted inferred resources with no impact on cut-off
grades. . .since September 2010, management has tripled Toroparu resource estimates, refined
metallurgy and completed a preliminary economic assessment.."
David West, Salman Partners (7/8/11) "The Toroparu project currently has a total resource
estimate of slightly more than 8.4 Moz. gold and 565 Mlb. copper; the results from more than
2,500m of drilling from 5 infill holes included several significant intersections of gold-copper
mineralization consistent with previously reported results. To date, results from over 22,000m of
infill drilling have been reported at Toroparu, confirming the continuity of mineralization. .
.additional results suggest potential extensions of gold-copper mineralization to the south and
southeast of the deposit, [and] the company noted it plans to expand its ongoing exploration-drilling
program through the addition of an RC drill, expected to begin shortly."
Catherine Gignac, Northland Capital Partners (5/30/11) "Sandspring released results from
a recently completed infill-drill program at its Toroparu project. Highlighted intercepts are 181.5m
at 1.17 g/t Au and 0.15% Cu, including 78m at 1.48 g/t Au and 0.20% Cu; 65m at 1.34 g/t Au and
0.26% Cu and 69m at 1.18 g/t Au and 0.03% Cu. The results comprise the final 6,150m of the
19,572m infill program designed to better define the geological controls, optimize grade and
upgrade inferred resources contained within the potentially mineable portion of the resource
outlined in the March 2011 PEA; an additional 60,000m of drilling is planned for the remainder
of 2011 for exploration purposes and the preparation of a feasibility study."
Barry Allan, Mackie Research (8/26/11) "Increasing resource confidence and size: Sandspring
Resources Ltd. released results for 39 new drill holes (TPD 184-223), 13 of which were in-fill holes
(drilled within the established resource outline), 7 of which extended the envelope of mineralization
an additional 500m to the northwest and 3 tested a separate area of mineralization to the
southeast. . .of the drill holes recently released, ~13 holes were drilled within an area where there
is the potential for a higher grade core that might serve as mill-feed in the early years of a mine
plan. . .the company remains undervalued, continuing to trade at 0.24x on a P/NAVPS basis versus
a peer group average of 0.54x, and at $23/oz. on a market cap to in-situ ounce basis versus an
average of $68/oz. from the same development peer group.."
The Gold Report Interview with Charles Oliver (8/22/11) "Sandspring has about 6 Moz. in a
resource and did a PEA this past May with a potential 5.4 Moz. resource, so it's starting to get fairly
big and fairly significant. Sandspring's market cap is a fraction of the value of most gold companies
of its size. If someone comes in and takes out Guyana Gold, which I do believe will happen,
Sandspring probably will get a bump in its valuation and lift in its share price, as will most gold
companies operating in Guyana.."
Laurence Curtis, Clarus Securities (8/4/11) "We are initiating coverage on Sandspring Resources
Ltd. with a Speculative Buy recommendation and a CAD$5 target price; the company's long history
in Guyana has a positive impact on its political standing and while financing of the project is the
greatest risk, prudent strategies have been proposed and should prove successful. We see plenty
of upside at Toroparu, with an extensive 1,000-sq.-km. land package in a prolific region and a
robust ore body that has consistently converted inferred resources with no impact on cut-off
grades. . .since September 2010, management has tripled Toroparu resource estimates, refined
metallurgy and completed a preliminary economic assessment.."
David West, Salman Partners (7/8/11) "The Toroparu project currently has a total resource
estimate of slightly more than 8.4 Moz. gold and 565 Mlb. copper; the results from more than
2,500m of drilling from 5 infill holes included several significant intersections of gold-copper
mineralization consistent with previously reported results. To date, results from over 22,000m of
infill drilling have been reported at Toroparu, confirming the continuity of mineralization. .
.additional results suggest potential extensions of gold-copper mineralization to the south and
southeast of the deposit, [and] the company noted it plans to expand its ongoing exploration-drilling
program through the addition of an RC drill, expected to begin shortly."
Catherine Gignac, Northland Capital Partners (5/30/11) "Sandspring released results from
a recently completed infill-drill program at its Toroparu project. Highlighted intercepts are 181.5m
at 1.17 g/t Au and 0.15% Cu, including 78m at 1.48 g/t Au and 0.20% Cu; 65m at 1.34 g/t Au and
0.26% Cu and 69m at 1.18 g/t Au and 0.03% Cu. The results comprise the final 6,150m of the
19,572m infill program designed to better define the geological controls, optimize grade and
upgrade inferred resources contained within the potentially mineable portion of the resource
outlined in the March 2011 PEA; an additional 60,000m of drilling is planned for the remainder
of 2011 for exploration purposes and the preparation of a feasibility study."
September 20, 2011 10:50 ET
Sandspring Resources Ltd. Reports Delineation of Higher Grade Gold-Copper Mineralization Corridor at Toroparu Andreports Drilling Results
TORONTO, ONTARIO--(Marketwire - Sept. 20, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further results from its 2011 expansion and infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America.
Sandspring reports the identification of distinct higher grade mineralized lenses with an east-west orientation and 45 degree plunge to the west within the main east domain of the Toroparu Gold - Copper Deposit. Drill results from drill holes TPD 237 and 237B confirm the presence and continuity of elevated gold and copper grades identified by recent infill drilling and improved geologic modeling of the Toroparu Resource that is being conducted in preparation for a pre-feasibility engineering study by SRK Consulting (US) Inc. in Q1, 2012. (Table 1).
Results from drill holes 237 and 237 B are the first results reported from a series of holes drilled both along strike and down plunge as well as holes drilled to cross-cut the mineralization, all specifically designed to confirm the extent and continuity of elevated grade of gold and copper along the orientation of these mineralized bodies (Table 1, Figures 1, 2, and 3).
Additionally, the Company is reporting results from exploration to the northwest of the currently defined resource area in holes TPD 224, 226, 228, 230, 233, 236, exploration to the southeast of the resource area in drill holes TPD 231,232, and 235, step-out drill holes in 225, 227, 229, and 234, and in-fill holes in the main east domain drill holes TPD 237, and 237 B.
http://www.marketwire.com/press-release/sandspring-resources-ltd-reports-delineation-higher-grade-gold-copper-mineralization-tsx-venture-ssp-1563369.htm
Sandspring Resources Ltd. Reports Delineation of Higher Grade Gold-Copper Mineralization Corridor at Toroparu Andreports Drilling Results
TORONTO, ONTARIO--(Marketwire - Sept. 20, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further results from its 2011 expansion and infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America.
Sandspring reports the identification of distinct higher grade mineralized lenses with an east-west orientation and 45 degree plunge to the west within the main east domain of the Toroparu Gold - Copper Deposit. Drill results from drill holes TPD 237 and 237B confirm the presence and continuity of elevated gold and copper grades identified by recent infill drilling and improved geologic modeling of the Toroparu Resource that is being conducted in preparation for a pre-feasibility engineering study by SRK Consulting (US) Inc. in Q1, 2012. (Table 1).
Results from drill holes 237 and 237 B are the first results reported from a series of holes drilled both along strike and down plunge as well as holes drilled to cross-cut the mineralization, all specifically designed to confirm the extent and continuity of elevated grade of gold and copper along the orientation of these mineralized bodies (Table 1, Figures 1, 2, and 3).
Additionally, the Company is reporting results from exploration to the northwest of the currently defined resource area in holes TPD 224, 226, 228, 230, 233, 236, exploration to the southeast of the resource area in drill holes TPD 231,232, and 235, step-out drill holes in 225, 227, 229, and 234, and in-fill holes in the main east domain drill holes TPD 237, and 237 B.
http://www.marketwire.com/press-release/sandspring-resources-ltd-reports-delineation-higher-grade-gold-copper-mineralization-tsx-venture-ssp-1563369.htm
September 29, 2011 07:43 ET
Sandspring Appoints New Directors and Grants Stock Options
TORONTO, ONTARIO--(Marketwire - Sept. 29, 2011) - Sandspring Resources Ltd. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce the addition of two new members to its Board of Directors: Mr. George Bee and Mr. Suresh Beharry.
Mr. Bee has an extensive career operating and developing world-class gold mining projects, most recently in Latin America. He currently serves as President, CEO and Director of Andina Minerals Inc. and serves on the Board of Directors of Peregrine Metals, which is in the final stages of being acquired by Stillwater Mining Company. Previously, he was Chief Operating Officer at Aurelian Resources, Inc. where he was primarily responsible for the development of the Fruta del Norte Project in Ecuador. Prior to that Mr. Bee was Director, Technical Projects for Barrick Gold Corporation. During his 16-year career at Barrick he was responsible for a number of operating and development projects. In 1998, he worked as Operations Manager to bring together the operating team and work to finalize the construction and commence operations at the Pierina gold mine in Peru culminating in his oversight of the first full year of production of over 800,000 oz AU. He left in 2000 for the Pascua Lama project in Chile before moving in 2002 to the Veladero mine where he was responsible for leading the team that took the Veladero mine from advanced exploration through feasibility, permitting and into production. Veladero was the first major mine investment to be made in Argentina's San Juan province and one of the first investments in Argentina after the financial crisis of 2001-2002. Mr. Bee is a graduate of the Camborne School of Mines in Cornwall, United Kingdom.
Mr. Beharry is Chairman of Edward B. Beharry & Company Ltd. (the "Beharry Group"), a business conglomerate active in a number of industry sectors throughout Guyana and the Caribbean. The Beharry Group engages in the insurance and finance sectors in Guyana through North American Life and Fire Insurance Co. Ltd., Guyana Bank for Trade and Industry, Beharry Stock Brokers, and Guyana Americas Merchant Bank, which started as a joint venture with the International Finance Corporation, a member of the World Bank Group. The Beharry Group operates a major food manufacturing and distribution business in Guyana and has a leading role in the automotive sector in Guyana through Beharry Automotive Ltd., the exclusive distributor of Toyota in Guyana. Mr. Beharry is a graduate of York University in Toronto, Ontario.
Rich Munson, CEO, comments:
"With the election of Mr. Bee to the Board, Sandspring adds a wealth of experience and expertise that will prove invaluable as Sandspring begins the process of building an in-house project development team.
Mr. Beharry, as Chairman of the Beharry Group, has many years of experience operating successful businesses in Guyana and the Caribbean and brings to Sandspring significant experience in developing large industrial projects in Guyana.
After successfully centralizing its exploration group in February of this year in its Georgetown, Guyana office under the direction of Mr. Werner Claessens, Vice President Exploration, and Mr. Pascal van Osta, Exploration Manager, Sandspring's Board of Directors and senior management are now focused on securing senior management personnel to lead the development of its Toroparu Project. We have retained HS International, an Executive search firm headquartered in Denver, Colorado, to assist us in building that team."
Concurrently with the new appointments to the Board, Mr. Abraham Drost and Mr. Mark Maier have resigned from the Board. Mr. Drost has also resigned as President of Sandspring.
Mr. Munson thanked both Mr. Maier, the original founder of Sandspring, and Mr. Drost, an initial director and President, for their service and significant contributions to the initial operations of Sandspring:
"Mark was instrumental in completing the Qualifying Transaction in which Sandspring acquired the Toroparu Gold-Copper Prospect. Subsequent to the closing, his extensive financial background and business expertise provided the Company with a valuable independent and objective perspective.
Abraham joined the Company in mid-2009 and brought the experience and expertise required to complete our move from a private group with a good property to a publicly traded company with a potential world-class asset. During his term as President, we have established a highly skilled exploration group and carried the planning for development of our Toroparu asset to an advanced stage. We congratulate him on a job well done and wish him all the best while he focuses on new opportunities in this exciting gold and commodities market.
Importantly for Sandspring, both Mr. Maier and Mr. Drost have agreed to continue to serve the Company in a consulting role to support our continuing exploration and development activities."
Mr. Drost and Mr. Maier congratulate Mr. Bee and Mr. Beharry on their joining the Board and Mr. Drost had the following comments: "George's experience in mine development and the operations arena marks a clear hand-off point so that Sandspring and the Toroparu asset move earnestly toward production. Suresh's knowledge and his ability to develop and operate large successful businesses is an exciting addition to Sandspring's team. These appointments provide a winning combination for Sandspring as it enters its next phase of growth and value generation."
Additionally, Sandspring announces that the Company has granted to certain directors a total of 500,000 stock options to purchase common shares of the Company. The stock options are exercisable at $1.53 per share and will expire on September 29, 2016. This stock option grant is subject to regulatory approval.
Sandspring Appoints New Directors and Grants Stock Options
TORONTO, ONTARIO--(Marketwire - Sept. 29, 2011) - Sandspring Resources Ltd. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce the addition of two new members to its Board of Directors: Mr. George Bee and Mr. Suresh Beharry.
Mr. Bee has an extensive career operating and developing world-class gold mining projects, most recently in Latin America. He currently serves as President, CEO and Director of Andina Minerals Inc. and serves on the Board of Directors of Peregrine Metals, which is in the final stages of being acquired by Stillwater Mining Company. Previously, he was Chief Operating Officer at Aurelian Resources, Inc. where he was primarily responsible for the development of the Fruta del Norte Project in Ecuador. Prior to that Mr. Bee was Director, Technical Projects for Barrick Gold Corporation. During his 16-year career at Barrick he was responsible for a number of operating and development projects. In 1998, he worked as Operations Manager to bring together the operating team and work to finalize the construction and commence operations at the Pierina gold mine in Peru culminating in his oversight of the first full year of production of over 800,000 oz AU. He left in 2000 for the Pascua Lama project in Chile before moving in 2002 to the Veladero mine where he was responsible for leading the team that took the Veladero mine from advanced exploration through feasibility, permitting and into production. Veladero was the first major mine investment to be made in Argentina's San Juan province and one of the first investments in Argentina after the financial crisis of 2001-2002. Mr. Bee is a graduate of the Camborne School of Mines in Cornwall, United Kingdom.
Mr. Beharry is Chairman of Edward B. Beharry & Company Ltd. (the "Beharry Group"), a business conglomerate active in a number of industry sectors throughout Guyana and the Caribbean. The Beharry Group engages in the insurance and finance sectors in Guyana through North American Life and Fire Insurance Co. Ltd., Guyana Bank for Trade and Industry, Beharry Stock Brokers, and Guyana Americas Merchant Bank, which started as a joint venture with the International Finance Corporation, a member of the World Bank Group. The Beharry Group operates a major food manufacturing and distribution business in Guyana and has a leading role in the automotive sector in Guyana through Beharry Automotive Ltd., the exclusive distributor of Toyota in Guyana. Mr. Beharry is a graduate of York University in Toronto, Ontario.
Rich Munson, CEO, comments:
"With the election of Mr. Bee to the Board, Sandspring adds a wealth of experience and expertise that will prove invaluable as Sandspring begins the process of building an in-house project development team.
Mr. Beharry, as Chairman of the Beharry Group, has many years of experience operating successful businesses in Guyana and the Caribbean and brings to Sandspring significant experience in developing large industrial projects in Guyana.
After successfully centralizing its exploration group in February of this year in its Georgetown, Guyana office under the direction of Mr. Werner Claessens, Vice President Exploration, and Mr. Pascal van Osta, Exploration Manager, Sandspring's Board of Directors and senior management are now focused on securing senior management personnel to lead the development of its Toroparu Project. We have retained HS International, an Executive search firm headquartered in Denver, Colorado, to assist us in building that team."
Concurrently with the new appointments to the Board, Mr. Abraham Drost and Mr. Mark Maier have resigned from the Board. Mr. Drost has also resigned as President of Sandspring.
Mr. Munson thanked both Mr. Maier, the original founder of Sandspring, and Mr. Drost, an initial director and President, for their service and significant contributions to the initial operations of Sandspring:
"Mark was instrumental in completing the Qualifying Transaction in which Sandspring acquired the Toroparu Gold-Copper Prospect. Subsequent to the closing, his extensive financial background and business expertise provided the Company with a valuable independent and objective perspective.
Abraham joined the Company in mid-2009 and brought the experience and expertise required to complete our move from a private group with a good property to a publicly traded company with a potential world-class asset. During his term as President, we have established a highly skilled exploration group and carried the planning for development of our Toroparu asset to an advanced stage. We congratulate him on a job well done and wish him all the best while he focuses on new opportunities in this exciting gold and commodities market.
Importantly for Sandspring, both Mr. Maier and Mr. Drost have agreed to continue to serve the Company in a consulting role to support our continuing exploration and development activities."
Mr. Drost and Mr. Maier congratulate Mr. Bee and Mr. Beharry on their joining the Board and Mr. Drost had the following comments: "George's experience in mine development and the operations arena marks a clear hand-off point so that Sandspring and the Toroparu asset move earnestly toward production. Suresh's knowledge and his ability to develop and operate large successful businesses is an exciting addition to Sandspring's team. These appointments provide a winning combination for Sandspring as it enters its next phase of growth and value generation."
Additionally, Sandspring announces that the Company has granted to certain directors a total of 500,000 stock options to purchase common shares of the Company. The stock options are exercisable at $1.53 per share and will expire on September 29, 2016. This stock option grant is subject to regulatory approval.
Valuation
Our 2012E NAV for Sandspring is $6.12/share using our gold price forecasts and discount rate
assumptions. We are increasing our 12-month target price from $4.50 to $5.00 per share, which is
based on the average of fair values generated using P/NAV and forward-looking P/CF multiples, as well
as AMC/oz and Takeover analysis. For Sandspring, we employ 1.0x NAV and 10x forward P/CF target
multiples, which are toward the middle of our target ranges for Emerging Golds (0.75-1.5x P/NAV and
7.5-15x P/CF), reflecting the execution risk to become a Tier III producer by 2015.
Our 2012E NAV for Sandspring is $6.12/share using our gold price forecasts and discount rate
assumptions. We are increasing our 12-month target price from $4.50 to $5.00 per share, which is
based on the average of fair values generated using P/NAV and forward-looking P/CF multiples, as well
as AMC/oz and Takeover analysis. For Sandspring, we employ 1.0x NAV and 10x forward P/CF target
multiples, which are toward the middle of our target ranges for Emerging Golds (0.75-1.5x P/NAV and
7.5-15x P/CF), reflecting the execution risk to become a Tier III producer by 2015.
T.SSP - Insider Transactions
Oct 12/11 Oct 12/11 Grandey, Gerald Wayne Direct Ownership Common Shares 11 - Acquisition carried out privately 222,841 $1.795
http://canadianinsider.com/coReport/allTransactions.php?ticker=SSP
Oct 12/11 Oct 12/11 Grandey, Gerald Wayne Direct Ownership Common Shares 11 - Acquisition carried out privately 222,841 $1.795
http://canadianinsider.com/coReport/allTransactions.php?ticker=SSP
T.SSP - Institutional Holdings
Sentry Investments baut den stake an Sandspring weiter aus..
Sentry Investments baut den stake an Sandspring weiter aus..
http://www.playstocks.net/
Sandspring - their Toroparu project at 3.83 M oz M&I with about 9.8 M adding inferred and
Sandspring is what I want to focus on in this report, it has sold off like many and is currently way
under valued.
There is no way this project should be valued this cheaply in a mining friendly jurisdiction, although
low grade - it is a huge deposit, no metallurgy issues with good recoveries and economics.
No doubt the project will grow larger and more resources moved into M&I category.
In September 2010 when gold was only at only $1200 an ounce the market put a value on this of
$2.60 per share with a financing and much higher with a stock that went over $3.00. Since then the
amount of gold and quality of the project has gone up and the gold price has gone up, but the stock
price has gone down.
It makes no sense other than we know the market was in the mood to sell everything lately, like
throwing out the baby with the bath water.
And that's how we make such big returns in this newsletter in the long term by gobbling up
bargains the market pukes out for us when it becomes too ill to keep its senses.!!!!
Sandspring - their Toroparu project at 3.83 M oz M&I with about 9.8 M adding inferred and
Sandspring is what I want to focus on in this report, it has sold off like many and is currently way
under valued.
There is no way this project should be valued this cheaply in a mining friendly jurisdiction, although
low grade - it is a huge deposit, no metallurgy issues with good recoveries and economics.
No doubt the project will grow larger and more resources moved into M&I category.
In September 2010 when gold was only at only $1200 an ounce the market put a value on this of
$2.60 per share with a financing and much higher with a stock that went over $3.00. Since then the
amount of gold and quality of the project has gone up and the gold price has gone up, but the stock
price has gone down.
It makes no sense other than we know the market was in the mood to sell everything lately, like
throwing out the baby with the bath water.
And that's how we make such big returns in this newsletter in the long term by gobbling up
bargains the market pukes out for us when it becomes too ill to keep its senses.!!!!
In The Field: Sandspring Has Exciting Gold Toroparu Deposit in Guyana (review)
http://www.youtube.com/watch?v=bAkF5qDv0Ho
http://www.youtube.com/watch?v=bAkF5qDv0Ho
http://www.marketwire.com/press-rel...anese-gold-sector-tsx-venture-ssp-1585093.htm
November 10, 2011 07:30 ET
Sandspring Resources Announces First Comprehensive Mineral Agreement in Guyanese Gold Sector Since 1991
GEORGETOWN, GUYANA--(Marketwire - Nov. 10, 2011) - Sandspring Resources Ltd (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce that it has signed a mineral agreement (the "Mineral Agreement") with the government of Guyana during ceremonies at the Office of the President on November 9, 2011 in Georgetown, Guyana. This is the first comprehensive Mineral Agreement in the gold sector in Guyana since the Omai Agreement in 1991.
The Mineral Agreement details all fiscal, property, import-export procedures, taxation provisions and other related conditions for the continued exploration, mine development and operation of the open pit mine at Sandspring's Toroparu Gold Project ("Toroparu").
The key fiscal terms are:
•a newly implemented two-tiered gold royalty structure of 5% of gold sales at gold prices up to US$1,000/oz. and 8% of gold sales at gold prices above US$1,000/oz.;
•a royalty of 1.5% on sales of copper and other valuable minerals;
•a corporate income tax rate of 30% and no withholding tax on interest payments to lenders; and
•duty and value added tax exemptions on all imports of equipment and materials for all continuing operations at Toroparu, including the construction and operation of a planned port facility, road and power improvements and the construction and operation of the mine at Toroparu.
Under the Mineral Agreement, there are two pre-conditions to the issuance of a mining license for Toroparu: (i) issuance of an Environmental Authorization by the Guyana Environmental Protection Agency and (ii) delivery of a feasibility study to the government of Guyana. Sandspring is in the final stages of securing the Environmental Authorization for mining operations at Toroparu, pre-feasibility work has commenced, and subject to a positive pre-feasibility study the Company intends to proceed thereafter through to feasibility.
Rich Munson, CEO, stated: "We are very pleased to have completed negotiations with the Guyanese government of a complete Mineral Agreement, bypassing the MOU process. The Guyanese government, along with Sandspring and its advisers, spent significant amounts of time not only on the key fiscal terms but also on procedures for land acquisition rights and other operational features necessary for successful development, construction and operation of a large scale gold mine. While the government secured its desired increased royalty on gold sales in excess of US$1,000/oz., it agreed to maintain its historic royalty rate on the copper component at Toroparu and also agreed to reduce the corporate income tax rate to 30%. We compliment the government and its team working on the Mineral Agreement for their willingness to create a complete regulatory plan for Toroparu and the related off-site facilities to be developed in conjunction with this gold mine. This marks a major milestone for Sandspring in its history of operations in Guyana and sets the stage for construction and operation of a major mining operation in Guyana."
November 10, 2011 07:30 ET
Sandspring Resources Announces First Comprehensive Mineral Agreement in Guyanese Gold Sector Since 1991
GEORGETOWN, GUYANA--(Marketwire - Nov. 10, 2011) - Sandspring Resources Ltd (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce that it has signed a mineral agreement (the "Mineral Agreement") with the government of Guyana during ceremonies at the Office of the President on November 9, 2011 in Georgetown, Guyana. This is the first comprehensive Mineral Agreement in the gold sector in Guyana since the Omai Agreement in 1991.
The Mineral Agreement details all fiscal, property, import-export procedures, taxation provisions and other related conditions for the continued exploration, mine development and operation of the open pit mine at Sandspring's Toroparu Gold Project ("Toroparu").
The key fiscal terms are:
•a newly implemented two-tiered gold royalty structure of 5% of gold sales at gold prices up to US$1,000/oz. and 8% of gold sales at gold prices above US$1,000/oz.;
•a royalty of 1.5% on sales of copper and other valuable minerals;
•a corporate income tax rate of 30% and no withholding tax on interest payments to lenders; and
•duty and value added tax exemptions on all imports of equipment and materials for all continuing operations at Toroparu, including the construction and operation of a planned port facility, road and power improvements and the construction and operation of the mine at Toroparu.
Under the Mineral Agreement, there are two pre-conditions to the issuance of a mining license for Toroparu: (i) issuance of an Environmental Authorization by the Guyana Environmental Protection Agency and (ii) delivery of a feasibility study to the government of Guyana. Sandspring is in the final stages of securing the Environmental Authorization for mining operations at Toroparu, pre-feasibility work has commenced, and subject to a positive pre-feasibility study the Company intends to proceed thereafter through to feasibility.
Rich Munson, CEO, stated: "We are very pleased to have completed negotiations with the Guyanese government of a complete Mineral Agreement, bypassing the MOU process. The Guyanese government, along with Sandspring and its advisers, spent significant amounts of time not only on the key fiscal terms but also on procedures for land acquisition rights and other operational features necessary for successful development, construction and operation of a large scale gold mine. While the government secured its desired increased royalty on gold sales in excess of US$1,000/oz., it agreed to maintain its historic royalty rate on the copper component at Toroparu and also agreed to reduce the corporate income tax rate to 30%. We compliment the government and its team working on the Mineral Agreement for their willingness to create a complete regulatory plan for Toroparu and the related off-site facilities to be developed in conjunction with this gold mine. This marks a major milestone for Sandspring in its history of operations in Guyana and sets the stage for construction and operation of a major mining operation in Guyana."
http://www.marketwire.com/press-rel...copper-drill-hole-tsx-venture-ssp-1586102.htm
November 14, 2011 07:00 ET
Sandspring Resources Ltd. Reports 388.5 m Intercept of 2.01 g/t Gold and 0.30% Copper in Drill Hole TPD 242 in Expansion of Higher-Grade Mineralization at Toroparu
TORONTO, ONTARIO--(Marketwire - Nov. 14, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further results from its 2011 expansion and infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America ("Toroparu").
The Company will host a conference call today, Monday November 14th at 11:30 AM EST to address questions regarding the recently signed Mineral Agreement and other developments (call-in details provided at the end of this press release).
The current infill program is specifically designed to confirm the extent and continuity of elevated grade along the orientation of higher grade mineralized lenses. These features were identified over the course of 2011 by additional definition drilling and improved resource and geologic modeling (Figures 1, 2, and 3).
Intercepts from drill holes TPD 242 and 247, drilled along strike and plunge of these lenses, highlight the extent of higher-grade mineralization located in the central part of the East Main Zone (Table 1). These results confirm our expectations and demonstrate good elevated gold and copper grade continuity and distribution to drill depths of over 600 m.
Further analytical results from the other infill holes TPD 248, 248A, 248B, 249 and 250, provide a better understanding of the geological controls and improve the quality and accuracy of the resource modeling.
Additionally, the Company is reporting results that include exploration drilling to the northwest and south of the currently defined resource area in holes TPD 239, 240, 243 and 245, as well as step-out and exploration drilling to the southeast of the main resource area in drill holes TPD 238, 241, and 244. Several intercepts in this area, often mineralized over widths of 10 meters or more, indicate the potential to find significant extensions of gold and copper mineralization to the southeast of the currently defined resource area (Figure 1).
November 14, 2011 07:00 ET
Sandspring Resources Ltd. Reports 388.5 m Intercept of 2.01 g/t Gold and 0.30% Copper in Drill Hole TPD 242 in Expansion of Higher-Grade Mineralization at Toroparu
TORONTO, ONTARIO--(Marketwire - Nov. 14, 2011) - SANDSPRING RESOURCES LTD. (TSX VENTURE:SSP) ("Sandspring" or the "Company") is pleased to announce further results from its 2011 expansion and infill-drilling program at the Toroparu Gold-Copper Deposit in the Republic of Guyana, South America ("Toroparu").
The Company will host a conference call today, Monday November 14th at 11:30 AM EST to address questions regarding the recently signed Mineral Agreement and other developments (call-in details provided at the end of this press release).
The current infill program is specifically designed to confirm the extent and continuity of elevated grade along the orientation of higher grade mineralized lenses. These features were identified over the course of 2011 by additional definition drilling and improved resource and geologic modeling (Figures 1, 2, and 3).
Intercepts from drill holes TPD 242 and 247, drilled along strike and plunge of these lenses, highlight the extent of higher-grade mineralization located in the central part of the East Main Zone (Table 1). These results confirm our expectations and demonstrate good elevated gold and copper grade continuity and distribution to drill depths of over 600 m.
Further analytical results from the other infill holes TPD 248, 248A, 248B, 249 and 250, provide a better understanding of the geological controls and improve the quality and accuracy of the resource modeling.
Additionally, the Company is reporting results that include exploration drilling to the northwest and south of the currently defined resource area in holes TPD 239, 240, 243 and 245, as well as step-out and exploration drilling to the southeast of the main resource area in drill holes TPD 238, 241, and 244. Several intercepts in this area, often mineralized over widths of 10 meters or more, indicate the potential to find significant extensions of gold and copper mineralization to the southeast of the currently defined resource area (Figure 1).