Feb 4 2011
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.
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.
New assay results from holes TPD117 – TPD128 comprise an additional 6328m of drilling mainly 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. Holes 122, 124 and 126, the first-ever exploration drill holes into an extensive geophysical anomaly at the off-trend Timmermans historical alluvial mining area 7km to the northeast, hit widespread alteration and encouraging initial gold assay results. Along with results for Holes TPD105 – TPD116 reported on December 15, 2010, assay results from a total of 63,614m of diamond drilling have now been disclosed to date on the Toroparu Property.
Abraham Drost, P.Geo., President of Sandspring states, "A new wireframe model of the deposit shows a 350m extension to the northwest which has exciting implications for future resource growth. Evaluation of step-out drilling to the northwest has also identified two additional mineralized lenses to the Toroparu deposit in the extension area (the "Southern" and "Northern" lenses). The latest assay results from drilling at Toroparu sets the stage for completion of a new resource update and the Preliminary Economic Assessment. Review of additional target areas and Infill drilling to Feasibility-ready Measured and/or Indicated resource quality status continues at this time."
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. Brian Ray, P.Geo. Senior Resource Geologist with Sandspring and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this press release.
Source:
SANDSPRING RESOURCES LTD.