VANCOUVER, BC, Dec. 4, 2024
/CNW/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties",
"Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to
provide exploration advancements on certain assets from its
diversified stream and royalty portfolio (dollar figures in USD
unless otherwise indicated).
Additional High-Grade Intercepts at Fruta del Norte
Lundin Gold Inc. ("Lundin Gold") announced additional high-grade
results from its 2024 near-mine and conversion drilling programs at
the Fruta del Norte ("FDN") gold mine in Ecuador. The near-mine exploration at FDN
South ("FDNS") has confirmed the continuity and high-grade nature
of the mineralized system extending south of the main deposit. The
exploration strategy aims to extend the mine's life by expanding
Mineral Resources at FDN through the exploration and delineation of
new discoveries near the existing operation. As of November 4th, Lundin Gold reported a total of 45,325 metres
has been drilled across 120 holes from both surface and underground
as part of the near-mine program. Since the second quarter of 2024,
the program has concentrated on FDNS.
FDNS drilling highlights include (not true widths):
- UGE-S-24-145: 22.67 grams per tonne ("g/t") gold over 41.6
metres from 26.4 metres, including:
- 68.81 g/t gold over 4.7 metres from 40.7 metres; and
- 53.08 g/t gold over 10.8 metres from 57.2 metres.
- UGE-S-24-175: 15.26 g/t over 38.0 metres from 19.4 metres,
including:
- 22.02 g/t gold over 4.3 metres from 27.9 metres; and
- 65.01 g/t gold over 5.4 metres from 44.5 metres.
- UGE-S-24-174: 9.02 g/t gold over 26.2 metres from 4.6 metres,
including:
- 16.20 g/t gold over 12.1 metres.
The conversion drilling program, aimed at upgrading Inferred
Mineral Resources to Indicated, continued to return high-grade
results as well, confirming mineralization adjacent to mine
workings. A total of 13,755 metres of underground drilling from 110
drill holes has been executed in 2024, and drilling for the year is
now complete. An updated Resource estimate is planned to be issued
in the first quarter of 2025.
Conversion drilling highlights include (not true widths):
- FDN-C24-140: 8.28 g/t gold over 80.9
metres from 143.5 metres, including:
- 31.29 g/t gold over 9.25 metres from 167.8 metres.
- FDN-C24-157: 7.00 g/t gold over 46.5
metres from 5.0 metres, including:
- 20.17 g/t gold over 10.4 metres from 31.9
metres.
- FDN-C24-153: 18.75 g/t gold over 10.9
metres from 18.5 metres, including:
- 30.32 g/t gold over 6.4 metres from 21.5 metres.
For more information, including the complete drilling results,
visit www.lundingold.com and refer to the press release dated
November 4, 2024. Sandstorm holds a
0.9% net smelter returns ("NSR") royalty on the precious metals
produced at FDN.
Allied Gold Focuses on Resource Upgrade at Bonikro Gold
Mine
Allied Gold Corporation ("Allied Gold") reported exploration and
resource drilling at the Bonikro mine in Côte d'Ivoire during the
third quarter 2024, focused on advancing both the Hire mining
license and the Oume exploration license. At Hire, 231 holes
totaling 12,696 metres of drilling were completed. Fresh rock gold
intersections suggest the presence of a linking mineralized
structure between the Akissi-So and Agbalé deposits. Additional
infill drilling is planned to further test this area as Allied Gold
aims to connect these mineralized zones and expand the resource.
On the Oume Exploration License, 66 holes totaling 10,283 metres
of drilling were completed primarily at the Dougbafla West and
North deposits, with a focus on upgrading Inferred Resources.
Drilling at Dougbafla West focused on advancing the oxide portion
of the resource, while activities at Dougbafla North included core
drilling and structural geological analysis, which improved the
understanding of mineralization geometry and supported resource
estimation wireframing. Target generation across the broader Hire
mining license progressed, with field teams actively conducting
exploration at the Ditula prospect.
These exploration and development activities reflect Allied
Gold's concerted effort to expand and upgrade resources across the
Bonikro mine's key prospects. For more information, visit Allied
Gold's website at www.alliedgold.com and refer to the
press release dated November 7,
2024.
Sandstorm holds a gold stream on the Bonikro mine, which
includes both the Hire mining license and the Oume exploration
license within the stream's area of interest. Under the terms of
the stream agreement, Sandstorm is entitled to purchase 6% of gold
produced at the mine until 39,000 ounces of gold are delivered,
then 3.5% of gold produced until 61,750 cumulative ounces of gold
have been delivered, then 2% thereafter, subject to minimum annual
deliveries. Sandstorm will make ongoing cash payments of
$400 per ounce of gold delivered.
Gold Resources at Minyari Dome Grow by 33%; Updated Scoping
Study
Antipa Minerals Limited ("Antipa") has released the results of
an updated Scoping Study for its 100% owned Minyari Dome project in
Western Australia. The study
reaffirms the project's standalone development potential and
incorporates the recent update to the project's Mineral Resource
Estimate ("MRE"), with a 33% increase in the gold resource base
compared to the previous MRE dated May
2022, now estimated at 2.3 million ounces ("Moz") of gold.
Initial gold production of 1.3 Moz, at an average annual rate of
130 thousand ounces ("koz"), is expected for the first 10 years.
The study also identifies opportunities to further enhance project
economics, including resource expansion, by-product potential, and
optimization of mining strategies.
A Phase 2 drilling program comprising of up to 11,000 metres,
including up to 10,000 metres of reverse circulation drilling and
up to 1,000 metres of diamond core drilling, recently commenced at
Minyari Dome and will run through the fourth quarter of 2024, while
multiple growth-focused drilling programs are planned for 2025.
For more information, visit www.antipaminerals.com.au and
refer to the press releases dated September
17, October 15, and
October 24, 2024. Sandstorm holds a
1.0% NSR royalty on the North Telfer project, which encompasses the
Minyari Dome project.
Awalé Drills 59 Metres at 14.7 g/t Gold at Odienné
Project
Awalé Resources Limited ("Awalé") has reported further
assay results from the company's 2024 drill program at the Odienné
project in Côte d'Ivoire. Exploration activities have yielded
significant advancements at both the Charger and BBM Zones.
At the Charger Zone, drilling has confirmed robust high-grade
gold mineralization, highlighted by 14.7 g/t gold over 59 metres
including 22.4 g/t gold over 21 metres from 143 metres in hole
OEDD-100. The results of the drilling program confirmed both grade
and geological continuity within the breccia system. It has now
been established that the mineralization carrying breccia's true
width is over 30 metres within a 200-metre strike length.
Parallel zones and step-out drilling remain focus areas as Awalé
advances its understanding of the target's potential through
further exploration into late 2024 and early 2025. The Charger Zone
remains a key discovery with the potential to uncover additional
high-grade zones along and beyond the established corridor.
At the BBM Zone, Awalé recently concluded a 6,808 metre
follow-up drill program, reporting high-grade results such as 27
metres at 1.9 g/t gold including 12 metres at 2.86 g/t gold in hole
OEDD-98. Drill results to date have confirmed strong grade
continuity within the system while interpretation of the drill data
has introduced a fold model that suggests the potential for
parallel higher-grade shoots within a core zone of robust
mineralization now exceeding 600 metres in length. Awalé plans to
complement further step-out and infill drilling with induced
polarization surveys targeting both the core BBM Zone and nearby
satellite zones as part of a broader exploration campaign
stretching into 2025.
For more information, including complete drill results, visit
Awalé's website at www.awaleresources.ca and refer to the press
releases dated November 11 and 18,
2024. Sandstorm holds a 2.0% NSR royalty on the Odienné
project.
Troilus Gold Advances Project Financing
Troilus Gold Corp. ("Troilus Gold") has advanced its project
financing efforts, securing Letters of Intent ("LOI") from Export
Development Canada ("EDC") and three major European export credit
agencies for a combined total of up to $1.3
billion to support the development of the Troilus
copper-gold project in Quebec,
Canada. Troilus Gold recently announced a LOI from EDC for
up to $300 million, complementing
previously announced LOIs including $300
million from the official Export Credit Agency of
Finland, approximately
$200 million from the Swedish Export
Credit Agency, and a $500 million LOI
from Germany's Euler Hermes. The
LOIs are contingent on various factors. The in-principle support
from these LOIs represent a substantial portion of the estimated
capital expenditures for the Troilus project, and Troilus Gold
remains focused on finalizing its financing strategy and advancing
the project toward development.
For more information, visit www.troilusgold.com and refer
to the press releases dated November
13, 19, and 21, 2024. Sandstorm holds a 1.0% NSR royalty on
the Troilus project.
Qualified Person
Imola Götz (M.Sc., P.Eng, F.E.C.), Sandstorm's Vice President,
Mining & Engineering is a Qualified Person as defined by
Canadian National Instrument 43-101. Ms. Götz has reviewed and
approved the scientific and technical information in this news
release.
Contact Information
For more information about Sandstorm Gold Royalties, please
visit our website at www.sandstormgold.com or email us at
info@sandstormgold.com.
ABOUT SANDSTORM GOLD ROYALTIES
Sandstorm is a precious metals-focused royalty company that
provides upfront financing to mining companies and receives the
right to a percentage of production from a mine, for the life of
the mine. Sandstorm holds a portfolio of over 230 royalties, of
which 41 of the underlying mines are producing. Sandstorm plans to
grow and diversify its low-cost production profile through the
acquisition of additional gold royalties. For more information
visit: www.sandstormgold.com.
CAUTIONARY STATEMENTS TO U.S. SECURITYHOLDERS
The financial information included or incorporated by reference
in this press release or the documents referenced herein has been
prepared in accordance with International Financial Reporting
Standards as issued by the International Accounting Standards
Board, which differs from US generally accepted accounting
principles ("US GAAP") in certain material respects, and thus are
not directly comparable to financial statements prepared in
accordance with US GAAP.
This press release and the documents incorporated by reference
herein, as applicable, have been prepared in accordance with
Canadian standards for the reporting of mineral resource and
mineral reserve estimates, which differ from the previous and
current standards of the United
States securities laws. In particular, and without limiting
the generality of the foregoing, the terms "mineral reserve",
"proven mineral reserve", "probable mineral reserve", "inferred
mineral resources,", "indicated mineral resources," "measured
mineral resources" and "mineral resources" used or referenced
herein and the documents incorporated by reference herein, as
applicable, are Canadian mineral disclosure terms as defined in
accordance with Canadian National Instrument 43-101 — Standards of
Disclosure for Mineral Projects ("NI 43-101") and the Canadian
Institute of Mining, Metallurgy and Petroleum (the "CIM") — CIM
Definition Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council, as amended (the "CIM Definition
Standards").
For United States reporting
purposes, the United States Securities and Exchange Commission (the
"SEC") has adopted amendments to its disclosure rules (the "SEC
Modernization Rules") to modernize the mining property disclosure
requirements for issuers whose securities are registered with the
SEC under the Exchange Act, which became effective February 25, 2019. The SEC Modernization Rules
more closely align the SEC's disclosure requirements and policies
for mining properties with current industry and global regulatory
practices and standards, including NI 43-101, and replace the
historical property disclosure requirements for mining registrants
that were included in SEC Industry Guide 7. Issuers were required
to comply with the SEC Modernization Rules in their first fiscal
year beginning on or after January 1,
2021. As a foreign private issuer that is eligible to file
reports with the SEC pursuant to the multi-jurisdictional
disclosure system, the Corporation is not required to provide
disclosure on its mineral properties under the SEC Modernization
Rules and will continue to provide disclosure under NI 43-101 and
the CIM Definition Standards. Accordingly, mineral reserve and
mineral resource information contained or incorporated by reference
herein may not be comparable to similar information disclosed by
United States companies subject to
the United States federal
securities laws and the rules and regulations thereunder.
As a result of the adoption of the SEC Modernization Rules, the
SEC now recognizes estimates of "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources." In
addition, the SEC has amended its definitions of "proven mineral
reserves" and "probable mineral reserves" to be "substantially
similar" to the corresponding CIM Definition Standards that are
required under NI 43-101. While the SEC will now recognize
"measured mineral resources", "indicated mineral resources" and
"inferred mineral resources", U.S. investors should not assume that
all or any part of the mineralization in these categories will be
converted into a higher category of mineral resources or into
mineral reserves without further work and analysis. Mineralization
described using these terms has a greater amount of uncertainty as
to its existence and feasibility than mineralization that has been
characterized as reserves. Accordingly, U.S. investors are
cautioned not to assume that all or any measured mineral resources,
indicated mineral resources, or inferred mineral resources that the
Company reports are or will be economically or legally mineable
without further work and analysis. Further, "inferred mineral
resources" have a greater amount of uncertainty and as to whether
they can be mined legally or economically. Therefore, U.S.
investors are also cautioned not to assume that all or any part of
inferred mineral resources will be upgraded to a higher category
without further work and analysis. Under Canadian securities laws,
estimates of "inferred mineral resources" may not form the basis of
feasibility or pre-feasibility studies, except in rare cases. While
the above terms are "substantially similar" to CIM Definitions,
there are differences in the definitions under the SEC
Modernization Rules and the CIM Definition Standards. Accordingly,
there is no assurance any mineral reserves or mineral resources
that the Company may report as "proven mineral reserves", "probable
mineral reserves", "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under NI 43-101 would
be the same had the Company prepared the reserve or resource
estimates under the standards adopted under the SEC Modernization
Rules or under the prior standards of SEC Industry Guide 7.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements", within
the meaning of the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and "forward-looking information" within the meaning of
applicable Canadian securities legislation, concerning the
business, operations and financial performance and condition of
Sandstorm Gold Royalties. Forward-looking statements include the
future price of gold, silver, copper, iron ore and other metals,
the estimation of mineral reserves and resources, realization of
mineral reserve estimates, and the timing and amount of estimated
future production. Forward-looking statements can generally be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans", or similar terminology.
Forward-looking statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performances or achievements of Sandstorm
Gold Royalties to be materially different from future results,
performances or achievements expressed or implied by such
statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and
the environment in which Sandstorm Gold Royalties will operate in
the future, including the receipt of all required approvals, the
price of gold and copper and anticipated costs. Certain important
factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, amongst others, failure to receive necessary
approvals, changes in business plans and strategies, market
conditions, share price, best use of available cash, gold and other
commodity price volatility, discrepancies between actual and
estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks
relating to the parties which produce the gold or other commodity
the Company will purchase, regulatory restrictions, activities by
governmental authorities (including changes in taxation), currency
fluctuations, the global economic climate, dilution, share price
volatility and competition.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: the impact of general business and economic conditions,
the absence of control over mining operations from which the
Company will purchase gold, other commodities or receive royalties
from, 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, risks in the
marketability of minerals, fluctuations in the price of gold and
other commodities, fluctuation in foreign exchange rates and
interest rates, stock market volatility, as well as those factors
discussed in the section entitled "Risks to Sandstorm" in the
Company's annual report for the financial year ended December 31, 2023 and the section entitled "Risk
Factors" contained in the Company's annual information form dated
March 27, 2024 available at
www.sedarplus.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company does not
undertake to update any forward-looking statements that are
contained or incorporated by reference, except in accordance with
applicable securities laws.
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SOURCE Sandstorm Gold Ltd.