Republic of Guyana, South America.
Toroparu Gold-Copper Deposit - 4.3 M Ounces Gold, 353 MM lbs By-Product Copper
Message: Sandspring Drill Results From Holes TPD94-TPD104 Includes Deposit Grade Values
Sandspring Drill Results From Holes TPD94-TPD104 Includes Deposit Grade Values 350m Along Strike on Stepout From Toroparu Gold-Copper Deposit
Nov. 10, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 11/10/10 -- SANDSPRING RESOURCES LTD. (TSX VENTURE: SSP) ("Sandspring" or the "Company") is pleased to announce 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-096 with 59.5m of 0.92/t gold at the top of the hole
and 152m of 0.79g/t gold and .03% copper down hole and 350m along strike
from the Toroparu gold-copper deposit
-- Infill Hole TPD-103 with 231m of 0.58g/t gold and .04% copper
On September 15, 2010, Sandspring announced an updated NI 43-101 compliant Indicated Mineral Resource of 2.64 million ounces gold, 261 million pounds copper contained in 99 million tonnes and an updated Inferred mineral resource of 3.42 million ounces gold, 216 million pounds copper contained in 140 million tonnes.
Abraham Drost, P.Geo., President of Sandspring states: "Stepout Hole TPD-096 has intersected 59.5m of 0.92g/t gold in a possible new horizon at the top of the hole along with a lower intercept of 152m of 0.79g/t gold and .03% copper.
These intercepts are located 350m along strike from the westernmost boundary of the current NI 43-101 Toroparu gold-copper deposit model implying potential for a 23% increase in the current strike length of approximately 1500m.
Stepout exploration drilling and Infill drilling to feasibility-level Measured and Indicated resource quality continues."
Results from holes TPD094 - TPD104 comprise an additional 7,269m 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 (Table 1). Assay results from a total of 48,928m of diamond drilling have now been disclosed to date on the Toroparu Property. Drill collar locations and hole traces relative to the current NI 43-101 compliant optimized open pit resource model surface contour may be viewed in Figure 1.
Table 1: Weighted Average Composite Grade Intervals, Holes TPD 94 to 104
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Length
Hole ID From (m) To (m) (m)(ii) Gold (g/t) Cu (%) Comment
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TPD-094 349.50 447.00 97.50 0.57 0.02
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incl. 405.00 406.00 1.00 8.99 nil Infill
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incl. 413.00 414.00 1.00 14.76(i) 0.02
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571.50 573.00 1.50 11.50 nil
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TPD-095 252.00 284.00 32.00 1.24 0.05 Infill
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incl. 259.00 260.00 1.00 26.75(i) 0.03
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314.00 378.00 64.00 0.72 0.06
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incl. 359.00 378.00 19.00 1.11 0.07
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incl. 377.00 378.00 1.00 11.97 0.49
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465.00 501.50 36.50 1.07 0.02
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incl. 500.00 501.50 1.50 10.17 0.09
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TPD-096 37.50 97.00 59.50 0.92 nil Stepout
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incl. 37.50 39.00 1.50 25.96(i) 0.01 (350m)
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and 59.50 61.00 1.50 11.63 nil
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324.00 357.00 33.00 0.57 nil
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536.00 688.00 152.00 0.79 0.03
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incl. 536.00 537.00 1.00 28.75(i) 0.07
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incl. 660.00 665.00 5.00 4.52 0.07
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TPD-097 413.00 436.00 23.00 0.51 0.02 Stepout
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474.00 498.00 24.00 1.07 0.01 (150m)
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548.00 565.00 17.00 0.58 nil
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TPD-098 31.00 57.50 26.50 0.48 nil Stepout
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288.50 372.50 84.00 0.50 nil (300m)
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incl. 357.50 359.00 1.50 29.90(i) nil
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501.50 533.00 31.50 0.66 0.01
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562.00 627.50 65.50 1.30 0.01
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incl. 578.00 581.00 3.00 5.10 0.04
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and 615.50 617.00 1.50 11.71 nil
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TPD-099 174.00 214.50 40.50 0.41 0.06 Infill
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339.00 371.00 32.00 0.56 0.05
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439.50 462.00 22.50 0.55 0.05
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504.00 586.50 82.50 0.56 0.04
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incl. 558.00 585.00 27.00 0.82 0.03
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TPD-100 240.50 251.00 10.50 1.13 0.01 Infill
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341.00 356.00 15.00 0.57 0.05
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416.00 474.50 58.50 0.85 0.08
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incl. 444.50 468.50 24.00 1.44 0.03
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incl. 452.00 453.50 1.50 122.25(i) 0.10
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633.50 663.50 30.00 0.99 0.03
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incl. 662.00 663.50 1.50 15.33(i) 0.01
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TPD-101 174.50 176.00 1.50 9.21 0.02 Infill
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359.00 420.00 61.00 0.57 0.05
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incl. 359.00 360.00 1.00 8.13 0.02
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and 419.00 420.00 1.00 5.16 0.03
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441.50 488.00 46.50 0.85 0.04
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TPD-102 160.50 178.50 18.00 0.44 0.05 Infill
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247.50 316.50 69.00 0.85 0.08
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549.00 588.00 39.00 1.08 0.07
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incl. 562.50 564.00 1.50 15.55(i) 0.10
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TPD-103 47.00 59.00 12.00 0.37 0.05 Infill
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194.00 425.00 231.00 0.58 0.04
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incl. 271.00 272.00 1.00 10.28 0.01
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and 285.00 289.00 4.00 6.20 0.08
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and 403.00 416.00 13.00 1.96 0.09
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incl. 403.00 404.00 1.00 21.74(i) 0.04
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TPD-104 354.00 401.00 47.00 0.68 0.04 Infill
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incl. 361.00 363.00 2.00 8.62 0.02
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456.50 569.00 112.50 0.59 0.06
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incl. 456.50 458.00 1.50 12.54(i) 0.06
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(i)High gold assay intervals are top-cut to 12.0g/t consistent with NI-43-
101 resource model
(ii) True widths are estimated at approximately 70% of core length widths;
To view figure 1, please visit the following link:
http://media3.marketwire.com/docs/DrillCollar.pdf.
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., Exploration Manager for Sandspring and the Company's Qualified Person on the Toroparu site under NI 43-101, has reviewed and approved the technical content of this press release.
Additional information on Sandspring can be viewed on SEDAR under the Corporation's profile at www.sedar.com or on Sandspring's website at www.sandspringresources.com.
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