Sandspring Resources Limited has announced that it has received a positive Preliminary Economic Assessment (PEA) for development of its 100% owned Toroparu gold-copper Project in Guyana.
Toroparu is in the Cuyuni-Mazaruni region in western Guyana.
A Marketwire release says the Preliminary Economic Assessment prepared by P&E Mining Consultants Inc. of Brampton, Ontario (P&E) sees a phased open pit mine plan, a ,000 tonnes per day mill and associated infrastructure with life of mine production of 3.83 million ounces gold and 308 million pounds of copper. The assessment said that annual production over the first four years of operation is expected to average 310,000 ounces gold and 29 million pounds of copper.
Based on the favourable economics, the release said that P&E is recommending that the Company advances the Toroparu Project to the Definitive Feasibility (DFS) stage. All currency amounts in this press release are denominated in United States Dollars ($).