Exploring Recent Discoveries and Drilling Highlights at Sandstorm

Recent Exploration and Drilling Milestones for Sandstorm Gold

Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) is excited to share the latest updates regarding drilling and exploration activities within its diverse portfolio. This report covers noteworthy developments from various companies in which Sandstorm holds royalty interests, highlighting significant discoveries and advancing projects.

Lundin Gold's Bonza Sur Discovery Progress

Expanding the Near-Mine Drilling Program

Lundin Gold Inc. has been making strides with its near-mine drilling program at the Fruta del Norte mine (FDN) where the newly discovered Bonza Sur gold deposit continues to show promise. This deposit, found just south of the main mine site, boasts a considerable mineralized envelope stretching 1.8 kilometers along strike, 100 meters in width, and depths reaching at least 500 meters. Over 50 drill holes have been completed, revealing a high-grade core characterized by hydrothermal alteration and quartz veins.

In response to the results, Lundin Gold has expanded its 2024 drilling program by 10,000 meters, increasing the total to 56,000 meters. By August, they had already completed around 26,056 meters, primarily focused on Bonza Sur. The project will see a combined estimated cost of $44 million, significantly driven by the enhancements to the drilling program.

Future Development Insights

A metallurgical study is slated for 2024, intending to refine the potential of Bonza Sur, alongside the anticipation of a maiden Mineral Resource Estimate by mid-2025. Lundin Gold's recent Investor Day further emphasized the potential of Bonza Sur becoming their second producing deposit within the La Zarza mining concession, along with a Preliminary Economic Assessment expected by late 2025.

Bonterra Resources' Phoenix Joint Venture Update

High-Grade Drill Results from Moss Target

Bonterra Resources has also released exciting results from its Phoenix JV project, where a definitive agreement is in place with Osisko Mining to develop a robust partnership. This collaboration entails a commitment for Osisko Mining to invest up to C$30 million over three years. As of now, 60,000 meters have been drilled, with a significant 37,000 meters on the Moss Target.

Impressive drill highlights include results revealing grades such as 38.33 g/t gold over 1.1 meters from deeper intervals of the exploration. Significant continued mineralization has been confirmed, creating optimistic prospects for further drilling as Bonterra prepares to resume exploration later this year.

Awalé Resources' Significant Discoveries in Côte d'Ivoire

High-Grade Intercepts at Odienné

Awalé Resources has reported promising results from its Odienné project, particularly at the Charger and BBM zones, following multiple high-grade intercepts earlier this year. In January, they announced a new discovery at the BBM Zone, with further drilling confirming significant shallow gold and copper potential. Notably, results from April showcased intercepts of 45.7 g/t gold over 32 meters.

This ongoing program aims for a total of 25,000 meters of drilling by the end of the year to explore the continuity and potential of these new mineralization zones, enhancing the future prospects for this exciting project.

Advancements at Antipa Minerals' Minyari Dome

Exploring Near-Surface Gold Mineralization

Antipa Minerals has recently completed an extensive Phase 1 drilling program at its Minyari Dome project, achieving encouraging intersections that reveal high-grade gold mineralization. The initial 71-hole plan expanded to 81 due to promising early results, particularly from the GEO-01 discovery site.

The project is strategically positioned near significant mining operations, including major players like Newmont Mining and Rio Tinto, broadening the exploration opportunities within Antipa’s domain.

Sandstorm Gold Royalties holds a 1.0% net smelter return royalty on the North Telfer project, which encompasses the Minyari Dome project, further solidifying its involvement in these positive developments.

Troilus Gold Corp.'s Feasibility Study and New Gold Zone

New Discovery Enhances Project Value

Troilus Gold has made significant advancements following its feasibility study. This outlines a potential mining operation alongside the discovery of a new gold zone, the West Rim Zone, enhancing the project's prospects as drilling continues in 2024. In particular, Troilus has reported high-grade drill results, notably 1.64 g/t gold over 20 meters, indicative of the area's rich mineral potential.

Sandstorm also benefits from its involvement, holding a 1.0% NSR royalty on the Troilus project, thereby positioning itself favorably as the project matures.

Conclusion

Overall, Sandstorm Gold Royalties continues to demonstrate its commitment to becoming a leading player in the precious metals sector through its strategic partnerships and expanding its royalty portfolio. Each of these developments from Lundin Gold, Bonterra, Awalé, Antipa, and Troilus not only adds value to Sandstorm's interests but also highlights the burgeoning potential within the mining sector.

Frequently Asked Questions

What is Sandstorm Gold Royalties known for?

Sandstorm Gold Royalties is a precious metals-focused royalty company that provides upfront financing to mining companies in exchange for a percentage of production.

What are some recent projects associated with Sandstorm Gold?

Recent projects include Lundin Gold's Bonza Sur, Bonterra's Phoenix JV, and Awalé's Odienné project, among others.

How does Sandstorm benefit from these projects?

Sandstorm benefits by holding net smelter return royalties on these projects, which provides them with a percentage of the minerals produced without the costs associated with mining operations.

What is the significance of Bonza Sur?

Bonza Sur is a newly discovered gold deposit with promising exploration results, indicating potential for significant gold production in the near future.

How does Sandstorm's portfolio impact its business model?

Having a diversified portfolio of royalties allows Sandstorm to reduce risk and capitalize on multiple revenue streams from various projects in different stages of development.

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