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- 17.00 m @ 4.42 g/t Au including 5.05 m @ 11.49 g/t Au and 6.00 m @ 17.25 g/t Au including 2.00 m @ 49.19 g/t Au in BRAZD271
- 44.00 m @ 1.20 g/t Au including 4.00 m @ 3.41 g/t Au and 4.00 m @ 3.88 g/t Au in BRAZD274
- 2.00 m @ 51.21 g/t Au and 55.00 m @ 1.31 g/t Au in BRAZD276
"We are very pleased to see these positive drill results from the Aurizona Project," said Nolan Watson, President and Chief Executive Officer of Sandstorm. "The depth of these holes is approximately twice that of the limit of drilling prior to this program and the results demonstrate that the mineralization significantly extends, and remains open, at depth."
Complete assay results have been received for seven deep exploration holes totaling approximately 2737 m drilled in the central portion of the Piaba deposit. All drill holes intersected gold mineralization and the deposit remains open at depth on all sections. Six holes contained visible gold. Significant mineralized intercepts are tabulated below.
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AU
SECTION HOLE ID AZI DIP DEPTH FROM TO INT (G/T)
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100E BRAZD276 168 75 346.70 251.00 253.00 2.00 51.21
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253.00 308.00 55.00 1.31
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INCLUDING 269.00 270.00 1.00 9.91
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INCLUDING 307.00 308.00 1.00 8.25
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100W BRAZD275 168 75 326.30 225.00 253.00 28.00 1.95
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INCLUDING 248.00 249.00 1.00 18.60
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300W BRAZD274 168 80 460.35 322.00 366.00 44.00 1.20
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INCLUDING 337.00 341.00 4.00 3.41
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INCLUDING 354.00 358.00 4.00 3.88
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500W BRAZD271 168 75 446.40 238.00 246.00 8.00 1.78
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270.00 287.00 17.00 4.42
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INCLUDING 281.00 286.05 5.05 11.49
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300.00 305.00 5.00 2.39
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312.00 318.00 6.00 17.25
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INCLUDING 316.00 318.00 2.00 49.19
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330.00 343.00 13.00 2.24
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700W BRAZD270 168 70 99.25 0.00 14.00 14.00 1.07
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BRAZD270A 168 70 447.00 203.00 218.00 15.00 1.71
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239.60 307.00 67.40 1.09
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INCLUDING 295.00 301.00 6.00 3.06
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349.00 350.00 1.00 6.94
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900W BRAZD272 168 75 333.95 234.50 242.00 7.50 1.39
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258.00 262.00 4.00 1.43
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1100W BRAZD273 168 75 372.25 165.00 166.00 1.00 15.00
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233.00 259.73 26.73 1.35
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Table 1. Mineralized drill intercepts from the 2009 Piaba deep drill
program. True widths to be established.
In accordance with Sandstorm's gold purchase agreement with Luna, Sandstorm is entitled to purchase 17% of the life of mine gold produced from the Aurizona Project at a per ounce price equal to the lesser of US$400 and the then prevailing market price.
ABOUT SANDSTORM RESOURCES
Sandstorm Resources Ltd. is a growth focused resource based company that seeks to complete transactions with companies that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm receives volumetric production payments (i.e. metal stream deals) on precious metals. Sandstorm helps other companies in the resource industry grow their businesses, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed volumetric production payments with Luna Gold Corp, SilverCrest Mines Inc. and Santa Fe Gold Corporation. For more information visit: www.sandstormresources.com
Regulatory Footnotes
Luna operates a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and sawn in half. One half of the HTW (71 mm diameter) core is maintained for future reference and one half of the core is sent for analysis. Samples are collected at approximately 2 meter intervals, which is reduced to 1 meter interval or less when a mineralized zone is encountered. All core and samples are stored in secure locked areas. Samples are transported from the Aurizona project to the ALS Chemex sample preparation facility in Belo Horizonte, Minas Gerais accompanied by Luna personnel. Samples are assayed at ALS Chemex Labs in Lima, Peru using a 50 gram fire assay with AAS finish. Each sample batch contains 10% of randomly inserted internal control samples consisting of certified analytical standards, blanks (barren rock) and duplicates. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample. Additional technical information about the Piaba Gold deposit is available in the technical report dated July 4, 2008, filed on SEDAR.
Titus Haggan Ph.D., EurGeol Certified Professional Geologist #746, Luna's Brazil Exploration Manager is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press release.
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by the Corporation as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; SilverCrest Mines Inc. not obtaining sufficient financing to build and operate the Santa Elena project; delays in the construction of the Summit mine; the absence of control over mining operations from which Sandstorm will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of minerals; industry conditions, including fluctuations in the price of metals, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; as well as those factors discussed in the section entitled "Risk Factors" in Sandstorm's short form prospectus dated October 6, 2009. Forward-looking information in this press release includes statements with respect to the Corporation's future outlook, corporate development and strategy. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the mining operations from which Sandstorm will purchase gold, no material adverse change in the market price of commodities, that the mining operations will operate in accordance with their public statements and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained herein, except in accordance with applicable securities laws. Sandstorm does not provide any representation as to its comparability with other companies in its industry including, but not limited to, International Royalty Corp., Gold Wheaton Gold Corp., Silver Wheaton Corp., Royal Gold Inc., and Franco-Nevada.
SOURCE: Sandstorm Resources Ltd.
Sandstorm Resources Ltd. Nolan Watson President and CEO (604) 689-0234 Sandstorm Resources Ltd. David Awram Investor Relations Contact (604) 689-0234 www.sandstormresources.com
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