Sandspring drills 52 metres of 1.92 g/t Au at Toroparu
2010-01-26 09:28 ET - News Release
Mr. Abraham Drost reports
SANDSPRING RESOURCES LTD. HITS 52M OF 1.92 G/T GOLD NEAR SURFACE 200M WEST OF TOROPARU GOLD-COPPER DEPOSIT ALONG TREND
Sandspring Resources Ltd. has received promising assay results from a series of step-out drill holes on the Toroparu gold-copper deposit in the Republic of Guyana, South America.
Step-out hole TPD046, drilled 50 metres northwest of the deposit along the Toroparu structure, intersected two successive discrete mineralized shoots with an average grade of 1.04 grams per tonne (g/t) gold over 102 metres and 1.27 g/t gold over 34.5 metres.
Step-out hole TPD047, drilled 100 metres northwest of the deposit along the Toroparu structure, intersected two successive discrete mineralized shoots with an average grade of 1.03 g/t gold over 39 metres and a second higher-grade mineralized horizon averaging 3.05 g/t gold over 15 metres concentrated within an interval of elevated gold values grading 1.53 g/t gold over 36 metres.
Step-out hole TPD048, drilled 200 metres northwest of the deposit along the Toroparu structure, intersected a high-grade mineralized horizon averaging 12.79 g/t gold over six metres concentrated within an elevated grade envelope averaging 1.92 g/t gold over 52 metres.
Results from holes TPD038 to TPD048 are outlined in the table and comprise an additional 4,841 metres of a 15,000-metre drill program designed to optimize grade and expand tonnage over the known National Instrument 43-101-compliant Toroparu gold-copper resource (8,977 metres reported to date; holes TPD030 to 037 reported in Stockwatch on Dec. 9, 2009).
The current Toroparu gold-copper deposit was independently modelled as a potentially open-pittable deposit with a National Instrument 43-101-compliant indicated mineral resource of 45,574,000 tonnes at 0.93 g/t gold and 0.164 per cent copper containing 1,369,400 ounces gold and 164 million pounds copper or 1,992,600 ounces gold equivalent(i) and additional inferred mineral resource of 36.8 million tonnes 0.82 g/t gold and 0.13 per cent copper containing 973,400 ounces gold and 105 million pounds copper or 1,372,500 ounces gold equivalent(i). The full National Instrument 43-101 technical report may be viewed on the SEDAR website as publicly disclosed by Sandspring on May 20, 2009, or on the company's website.
Abraham Drost, PGeo, president of Sandspring, states: "We continue to be encouraged by the results of the insight IP survey which outlines the deposit horizon and provides a superb visual target for step-out drilling activities along strike on the Toroparu shear zone. The Toroparu gold-copper deposit has been compared with the Las Brisas deposit in the famed Kilometre 88 trend in neighbouring Venezuela. The persistence of mineralization along trend and of increased grade along strike at Toroparu suggests that Sandspring may be onto an analogous deposit model in the continuum between Las Brisas and its higher-grade sister the Las Cristinas deposit. Grade and tonnage parameters will be recalculated at a later date once the limits and the full geometry of the mineralized trend are better understood."
Resolution of the Toroparu structure hosting the Toroparu gold-copper deposit has been enhanced by the completion of a ground gradient induced polarization (IP) survey. The deposit host and target horizon maps as a distinct chargeability low and appears to extend to both the east and the west of the current resource pit shell model. The company has selected additional drill targets along the deposit horizon to seek to extend the limits of the current resource area. A variety of other off-trend IP geophysical features were also tested with limited success.
SUMMARY OF 2009 DRILL HOLE COMPOSITE ASSAYS
SANDSPRING RESOURCES -- TOROPARU PROJECT
Hole From To Interval Au Cu
ID Zone Northing Easting (m) (m) (m) (g/T) (%) Comments
Off-
TPD- trend IP
038 target 826284 714103 87.00 90.00 3.00 2.52 0.31 Exploration
412.50 415.50 3.00 1.49 0.00
Off-
TPD- trend IP
039 target 826276 713839 No significant assays Exploration
Off-
TPD- trend IP
040 target 825673 714410 300.00 301.50 1.50 1.24 0.01 Exploration
Toroparu
TPD- resource
041 area 826198 714271 32.50 34.00 1.50 1.45 0.11 Infill
90.00 91.50 1.50 1.40 0.10
109.50 111.00 1.50 2.19 0.13
127.50 129.00 1.50 1.11 0.07
196.50 261.00 64.50 0.77 0.25
354.00 417.00 63.00 1.50 0.09
363.00 408.00 45.00 1.88 0.11 included
414.00 417.00 3.00 1.64 0.09
426.00 427.50 1.50 1.03 0.06
438.00 439.50 1.50 1.35 0.00
502.50 504.00 1.50 1.95 0.00
Off-
TPD- trend IP
042 target 827150 713117 No significant assays Exploration
Off-
TPD- trend IP
043 target 827238 712879 No significant assays Exploration
Off-
TPD- trend IP
044 target 827077 712661 99.00 100.50 1.50 3.87 n/d Exploration
Off-
TPD- trend IP
045 target 826978 712772 No significant assays Exploration
Toroparu
TPD- resource Step-out
046 area 825881 714417 1.00 4.00 3.00 1.33 0.00 50 metres W
10.00 11.50 1.50 1.60 0.00
22.50 25.50 3.00 0.92 0.00
141.00 144.00 3.00 3.58 0.14
201.00 303.00 102.00 1.04 0.05
201.00 273.00 72.00 1.16 0.06 included
282.00 283.50 1.50 1.00 0.07
289.50 303.00 13.50 1.31 0.06
339.00 348.00 9.00 1.89 0.32
369.00 390.00 21.00 0.90 0.15
427.50 429.00 1.50 2.88 0.02
457.50 459.00 1.50 1.11 0.03
465.00 499.50 34.50 1.27 0.06
Toroparu
TPD- resource Step-out
047 area 825843 714447 45.00 46.50 1.50 1.01 nr 100 metres W
226.50 231.00 4.50 3.76 nr
285.00 292.50 7.50 1.20 nr
397.50 436.50 39.00 1.03 nr
480.00 516.00 36.00 1.53 nr
501.00 516.00 15.00 3.05 nr included
Toroparu
TPD- resource Step-out
048 area 825774 714586 126.50 129.50 3.00 1.67 nr 200 metres W
168.50 221.00 52.50 1.92 nr
200.00 206.00 6.00 12.79 nr included
237.50 239.00 1.50 2.04 nr
264.50 266.00 1.50 1.37 nr
269.00 273.50 4.50 1.29 nr
293.00 305.00 12.00 1.32 nr
323.00 326.00 3.00 2.04 nr
386.00 387.50 1.50 1.10 nr
(i) nr: not reported at this time due to lab delays.
Analytical testing and reporting of quantitative assays was performed independently by Activation Laboratories Ltd. ActLabs is an ISO 17025 (Lab 266) and Nelap (lab E87979) 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 quality assurance/quality control tests performed by ActLabs.
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