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Sandspring Infill Drill Results From the Toroparu Gold-Copper Deposit Includes 114m of 1.93g/t Gold and 0.07% Copper in Hole 136
Published : March 16, 2011
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TORONTO, ONTARIO--(Marketwire - March 16, 2011) - SANDSPRING RESOURCES LTD. (News - Market indicators) ("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.

On September 15, 2010, Sandspring announced an updated NI 43-101 compliant single optimized open pit shell resource independently modeled by P&E Mining Consultants, Toronto, featuring an Indicated mineral resource of 2.64 million oz. gold and 262 million pounds copper at a grade of 0.83g/t gold and 0.12% copper and an additional Inferred mineral resource of 3.42 million oz. gold and 216 million pounds copper at a grade of 0.76g/t gold and 0.07% copper based on a total drill hole database of 41,659m in 93 holes. The full Technical Report, filed on October 13th, 2010 can be found on www.sedar.com.

New assay results from holes TPD129 – TPD142 comprise an additional 7156m of drilling mainly designed to optimize grade and tonnage parameters and define geologic features within the known NI 43-101 compliant Toroparu gold-copper resource (Table 1). Assay results from a total of 70,770m 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 and including the newly modelled 350m extension to the Toroparu deposit may be viewed in Figure 1.

Abraham Drost, P.Geo., President of Sandspring states… "Infill drilling to Feasibility-ready Measured and/or Indicated resource quality status continues at this time. The current round of infill drill results, particularly bracketed between Holes 131, 134, 136 and 139 confirms the higher quality grade characteristics of a possible "Starter Pit" area identified in previous disclosure (June 3, 2010).

An NI 43-01 compliant mineral resource update and Preliminary Economic Assessment showing the preliminary mine plan and pro-forma discounted cash flow model is expected on schedule by the end of Q1, 2011.

The Toroparu Deposit remains open along strike and to depth. The Company continues step-out drilling of Toroparu and regional exploration of its Upper Puruni concessions.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/sspfig10316.pdf

Table 1: Weighted Average Composite Grade Intervals, Holes TPD129-138
Hole ID From(m) To(m) Length(m) Gold(g/t) Cu (%) Comment
             
TPD-129 100.50 103.50 3.00 1.05 0.01 Infill
  124.50 127.50 3.00 1.17 0.00  
  145.50 148.50 3.00 0.86 0.01  
  226.50 228.00 1.50 1.40 0.16  
  234.00 235.50 1.50 1.37 0.00  
  258.00 259.50 1.50 1.05 0.00  
  280.50 283.50 3.00 0.83 0.01  
  286.50 295.50 9.00 0.70 0.00  
  340.50 346.50 6.00 1.38 0.02  
  354.00 355.50 1.50 1.72 0.00  
  393.00 415.50 22.50 0.58 0.00  
  426.00 435.00 9.00 0.73 0.00  
  459.00 462.00 3.00 0.70 0.00  
  484.50 486.00 1.50 11.70 0.01  
             
TPD-130 32.50 35.50 3.00 1.40 0.01 Infill
  89.00 95.00 6.00 0.64 0.02  
  152.00 155.00 3.00 0.56 0.05  
  162.50 176.00 13.50 1.72 0.07  
incl. 165.50 167.00 1.50 29.5* 0.06  
  207.50 212.00 4.50 0.92 0.02  
  231.50 234.50 3.00 0.49 0.01  
  237.50 242.00 4.50 0.56 0.01  
  252.50 261.50 9.00 1.21 0.01  
  273.50 278.00 4.50 1.83 0.04  
  308.00 317.00 9.00 0.52 0.08  
  417.50 419.00 1.50 2.32 0.01  
             
TPD-131 309.00 316.50 7.50 0.97 0.22 Infill
  325.50 331.50 6.00 0.51 0.04  
  340.50 379.50 39.00 0.72 0.15  
  394.50 442.50 48.00 0.93 0.03  
incl. 402.00 403.50 1.50 29.1* 0.04  
  447.00 469.50 22.50 1.18 0.04  
  510.00 513.00 3.00 0.69 0.07  
             
TPD-132 2.50 7.00 4.50 0.59 0.01 Infill
  198.00 202.50 4.50 0.62 0.06  
  255.00 256.50 1.50 1.86 0.01  
  273.00 277.50 4.50 1.02 0.07  
  289.50 294.00 4.50 0.62 0.02  
  298.50 301.50 3.00 0.51 0.04  
  310.50 313.50 3.00 0.60 0.07  
  330.00 331.50 1.50 1.76 0.05  
  414.00 415.50 1.50 4.05 0.05  
  430.50 444.00 13.50 0.70 0.08  
  447.00 450.00 3.00 0.54 0.07  
             
TPD-133 23.50 25.00 1.50 1.31 0.04 Infill
  108.50 128.00 19.50 0.84 0.19  
  132.50 140.00 7.50 0.60 0.23  
  183.50 186.50 3.00 0.57 0.18  
  195.50 201.50 6.00 0.69 0.18  
  215.00 221.00 6.00 1.29 0.02  
  231.50 239.00 7.50 0.61 0.21  
  267.50 272.00 4.50 0.69 0.16  
  314.00 315.50 1.50 1.68 0.24  
  527.00 528.50 1.50 0.81 0.58  
             
TPD-134 356.00 359.00 3.00 0.64 0.06 Infill
  365.00 369.50 4.50 0.65 0.10  
  372.50 375.50 3.00 1.40 0.11  
  386.00 387.50 1.50 1.48 0.01  
  410.00 431.00 21.00 0.92 0.03  
  435.50 446.00 10.50 1.21 0.03  
  450.50 464.00 13.50 4.19 0.02  
incl. 450.50 456.50 6.00 7.40 0.02  
and 452.00 453.50 1.50 18.7* 0.01  
  468.50 489.50 21.00 1.22 0.06  
  513.50 515.00 1.50 2.24 0.02  
  521.00 524.00 3.00 0.54 0.02  
  536.00 542.00 6.00 0.88 0.05  
  549.50 582.50 33.00 1.23 0.04  
  590.00 603.50 13.50 0.85 0.02  
             
TPD-135 128.00 137.00 9.00 1.92 0.05 Infill
  149.00 152.00 3.00 1.08 0.06  
  254.00 258.50 4.50 0.71 0.02  
  281.00 287.00 6.00 1.55 0.08  
  296.00 303.50 7.50 0.80 0.04  
  336.50 347.00 10.50 1.00 0.07  
  356.00 366.50 10.50 0.61 0.10  
  369.50 378.50 9.00 1.17 0.10  
  389.00 392.00 3.00 0.82 0.05  
  423.50 425.00 1.50 1.12 0.06  
             
TPD-136 315.00 429.00 114.00 1.93 0.07 Infill
incl. 349.50 355.50 6.00 6.91 0.14  
and 354.00 355.50 1.50 28.5* 0.17  
and 387.00 388.50 1.50 44.4* 0.18  
and 390.00 391.50 1.50 8.04 0.01  
and 394.50 396.00 1.50 7.47 0.08  
and 414.00 415.50 1.50 15.00* 0.03  
  532.50 534.00 1.50 3.76 0.00  
             
TPD-137 125.00 128.00 3.00 1.08 0.61  
  312.50 315.50 3.00 0.61 0.11 Infill
  320.00 323.00 3.00 1.51 0.16  
  332.00 336.50 4.50 1.63 0.13  
  350.00 353.00 3.00 0.75 0.06  
  362.00 384.50 22.50 0.68 0.07  
  398.00 408.50 10.50 0.91 0.06  
  420.50 446.00 25.50 0.71 0.04  
  455.00 477.50 13.50 0.89 0.03  
  482.00 486.50 4.50 2.84 0.01  
             
TPD138 55.50 63.00 7.50 0.76 0.19 Infill
  178.50 180.00 1.50 6.21 0.12  
  405.00 406.50 1.50 2.58 0.83  
  418.50 420.00 1.50 1.64 0.06  
             
TPD139 308.00 317.00 9.00 0.57 0.35 Infill
  327.50 345.50 18.00 1.42 0.39  
  351.50 426.50 75.00 1.63 0.28  
incl. 386.00 387.50 1.50 5.51 0.54  
  449.00 485.00 36.00 0.84 0.17  
  501.50 507.50 6.00 0.68 0.09  
  501.50 507.50 7.50 0.92 0.06  
  522.50 551.00 28.50 1.15 0.08  
  569.00 581.00 12.00 0.67 0.02  
  596.00 602.00 6.00 0.63 0.03  
             
TPD140 180.00 183.00 3.00 0.52 0.04 Infill
  184.50 187.50 3.00 0.99 0.19  
  328.50 334.50 6.00 0.91 0.38  
  342.00 349.50 7.50 0.43 0.16  
  352.50 369.00 16.50 0.66 0.17  
  372.00 394.50 22.50 0.70 0.15  
  411.00 417.00 6.00 0.76 0.08  
  432.00 433.50 1.50 0.43 0.07  
  445.50 459.00 13.50 0.70 0.04  
  465.00 480.00 15.00 0.70 0.07  
  487.50 499.50 12.00 0.79 0.01  
             
TPD141 17.50 19.00 1.50 1.37 0.01 Infill
  193.50 195.00 1.50 1.21 0.04  
  351.00 358.50 7.50 0.79 0.08  
  360.00 364.50 4.50 0.49 0.03  
  366.00 375.00 9.00 0.55 0.03  
  442.50 457.50 15.00 0.83 0.06  
  462.00 465.00 3.00 0.75 0.04  
  474.00 477.00 3.00 1.24 0.03  
  480.00 489.00 9.00 0.39 0.03  
  493.50 504.00 10.50 0.64 0.03  
  508.50 520.50 12.00 0.61 0.04  
             
TPD142 113.00 122.00 9.00 0.67 0.10 Infill
  126.50 149.00 22.50 1.10 0.03  
incl. 132.50 134.00 1.50 6.39 0.02  
and 147.50 149.00 1.50 5.44 0.05  
  171.50 177.50 6.00 1.32 0.09  
  191.00 197.00 6.00 0.59 0.11  
  209.00 228.50 19.50 0.68 0.06  
  248.00 249.50 1.50 7.65 0.01  
  258.50 260.00 1.50 1.14 0.02  
  263.00 266.00 3.00 9.12 0.02  
incl. 264.50 266.00 1.50 18.1* 0.03  

* High gold assay intervals are top-cut to 12.0g/t consistent with NI-43-101 geostatistical resource model

** True widths are estimated at approximately 70% of core length widths

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. Senior Resource Geologist with Sandspring and a Qualified Person 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.

This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the Company's successful advancement of the Toroparu deposit toward feasibility and obtaining positive results from ongoing evaluation and testing of multiple gold targets located elsewhere in the Company's landholdings, among other risks as described in more detail in our recent securities filings available at www.sedar.com.. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Sandspring Resources Ltd. has an ongoing obligation to disclose material information, as it becomes available.

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.

Sandspring Resources Ltd.
Mr. Abraham Drost, M.Sc., P.Geo.
President
(807) 252-7800
www.sandspringresources.com

Sandspring Resources Ltd.

EXPLORATEUR
CODE : SSP.V
ISIN : CA8001101085
CUSIP : 800110 10 8
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Sandspring Res. est une société d’exploration minière d'or et de cuivre basée au Canada.

Son principal projet en exploration est TOROPARU en Guyana.

Sandspring Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 29,1 millions CA$ (21,9 millions US$, 19,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2010 à 3,75 CA$, et son plus bas niveau récent le 26 décembre 2014 à 0,09 CA$.

Sandspring Res. possède 114 140 000 actions en circulation.

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Nominations de Sandspring Resources Ltd.
20/06/2011Announces Appointment of IR Firm
Projets de Sandspring Resources Ltd.
09/04/2013(Toroparu)Positive Pre-Feasibility Study for Toroparu Demonstrates 2.6...
11/05/2011Provides Update on Receipt of NI 43-101 Technical Report
22/03/2011(Toroparu)Announces Positive Preliminary Economic Assessment for Torop...
Communiqués de Presse de Sandspring Resources Ltd.
15/10/2015Sandspring Commences New Exploration Program at Toroparu Gol...
15/09/2015Sandspring Resources Ltd. Acquires Securities of PNO Resourc...
15/09/2015Sandspring Acquires Securities of PNO Resources
14/09/2015Sandspring and PNO Announce Closing of Business Combination
14/07/2015PNO Resources Ltd. Increases Private Placement offering to t...
06/07/2015IIROC Trading Resumption - SSP; PNO.H
03/07/2015IIROC Trading Halt - SSP
26/06/2015Sandspring Receives Second 2015 Installment under its Stream...
23/04/2015Sandspring adds Silver By-Product Stream to Silver Wheaton A...
23/02/2015Sandspring Announces Information on Silver Resource at Torop...
16/02/2015Sandspring Announces Feasibility Study Update, Management Ch...
01/12/2014Sandspring Appoints New CFO
06/06/2014Sandspring Shareholders Approve All Matters at Annual and Sp...
29/04/2014Sandspring Retains Investor Relations Consultant
08/05/2013Adopts Advance Notice By-Law
19/04/2013Signs Memorandum of Understanding With the Government of Guy...
19/02/2013Correction From Source: Sandspring Grants Annual Stock Optio...
18/02/2013Grants Annual Stock Options to Officers and Directors
24/09/2012Reports More Encouraging Results from Its In-Fill Drill Prog...
07/09/2012Appoints President & Chief Operating Officer and Grants Opti...
07/07/2011(Toroparu)Announces Infill Drill Results From Its Toroparu Gold-Copper...
24/05/2011(Toroparu)Infill Drill Results from the Toroparu Gold-Copper Deposit I...
14/04/2011(Toroparu)Infill Drill Results From the Toroparu Gold-Copper Deposit I...
21/03/2011NI 43-101 Compliant Mineral Resource Update for the Toroparu...
16/03/2011Infill Drill Results From the Toroparu Gold-Copper Deposit I...
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