DENVER and VANCOUVER, British Columbia, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Sandspring Resources Ltd. (TSX-V: SSP, OTCQX: SSPXF) (“Sandspring” or the “Company”).
As press released on December 19, 2018, the Company is conducting a drilling program on its 100% owned Chicharrón silver-gold project located near Segovia, Antioquia, Colombia. The first phase of this drill program is designed to test extensions of mineralization around the historic former producer, the Guia Antigua Mine. To date, five drill holes have been completed and assay results are pending.
At Toroparu, our flagship gold project located in Guyana, work by SRK Consulting (USA) on the re-scoping study continues. The goal of the study work is to establish the basis to move Toroparu forward to development even if gold prices remain at current levels. Sandspring has commenced discussions with Wheaton Precious Metals regarding the re-scoping study and work done to date.
The Company has entered into an arm’s length investor relations agreement (the “IR Agreement”) with Future Money Trends, LLC and affiliates (“FMT”), a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA. FMT is headed by Kenneth Ameduri, a media investor relations specialist in the natural resources sector. To the knowledge of the Company, neither FMT nor its principals own any securities of Sandspring. The IR Agreement is for an initial term of 90 days at an aggregate cost of US$300,000 to provide financial publishing and digital marketing services to the Company. Pursuant to the IR Agreement, FMT will raise public awareness of the Company (including its social media presence) and will promote the Company’s business.
On behalf of the Board of Directors of Sandspring Resources Ltd.
“Richard A. Munson”
Director and Chief Executive Officer
About Sandspring Resources Ltd.
Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a feasibility study for the Toroparu Project in Guyana, South America with 7.4 million ounces of gold in the Measured and Indicated categories. A prefeasibility study completed in May 2013 (NI 43-101 Technical Report, Prefeasibility Study, Toroparu Gold Project, Upper Puruni River Area, Guyana, dated May 24, 2013 completed by SRK Consulting (U.S.), Inc., available on SEDAR (www.sedar.com)) outlined the design of an open-pit mine producing more than 200,000 ounces of gold annually over an initial 16-year mine life. Sandspring and Wheaton Precious Metals (formerly known as Silver Wheaton) entered into a gold and silver purchase agreement for the Toroparu Project in 2013 which remains in force and effect. Sandspring also holds a 100% interest in the Chicharrón Gold Project located in the Segovia-Remedios mining district, Antioquia, Colombia. Additional information is available at www.sandspringresources.com or by email at info@sandspringresources.com.
Contact Sandspring Resources Ltd.
Richard A. Munson
Chief Executive Officer
Tel: +1 (303)-991-5683 or email at info@sandspringresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “potential”, “suggesting”, “indicating”, “will”, “plans” and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions that Sandspring has used to develop such statements and/or information, but which may prove to be incorrect. Although Sandspring believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Sandspring can give no assurance that such expectations will prove to be correct. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: the speculative nature of mineral exploration and development; risks associated with the uncertainty of exploration results and estimates; results from drilling and exploration activities; the ability of Sandspring to complete the Transaction; Sandspring’s future plans; the availability of financing and/or cash flow to fund current and future plans and expenditures; the impact of increasing competition; fluctuating commodity prices; the general stability of applicable economic and political environments; the general continuance of current industry conditions; uncertainty regarding the market price for gold, silver and copper; uncertainty of conducting operations under a foreign regime; uncertainty of obtaining all applicable regulatory approvals and related timing matters; Sandspring’s dependence on management personnel; and/or certain other risks detailed from time-to-time in Sandspring’s public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
