Sandspring Resources Ltd. (TSX-Venture:SSP) came out Tuesday with positive results from a Preliminary Economic Assessment (PEA) of its Toroparu Gold Project in the Mazaruni-Cuyuni District of Guyana.
This PEA Report – which, it must be stressed, is preliminary in nature -- summarizes the results of the re-scoping at base case metal prices of $1,300 U.S. gold (Au), $16.00 silver (Ag), and $3.00 copper (Cu).
The includes inferred mineral resources thought too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and with no certainty that the PEA will be realized.
Still, key aspects of the report include: 4.5 Million ounces Au production, with 3.64 Million ozs produced in Au doré bars, over 24-year Life of Mine – up from 3.7 Million ozs from the 2013 PFS
Shares in SSM gained half a cent, or more than 3%, to 17 cents late Tuesday morning, on volume of 429,000 shares.
