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Sandstorm Gold Ltd T.SSL

Alternate Symbol(s):  SAND

Sandstorm Gold Ltd. is a Canada-based precious metals-focused streaming and royalty company. The Company is focused on acquiring royalties and gold and other metals. The Company holds a portfolio of over 230 royalties, of which 41 of the underlying mines are producing. Its segments include Antamina, Aurizona, Blyvoor, Bonikro, Caserones, Cerro Moro, Chapada, Fruta del Norte, Hounde, Mercedes, Vale Royalties, and others. Antamina open-pit copper mine located in the Andes Mountain range of Peru, approximately 270 kilometers (km) north of Lima. Aurizona mine is in Brazil. The Blyvoor gold mine is located on the Witwatersrand gold belt, South Africa. The Bonikro gold mine is located in Cote d’Ivoire. Caserones open pit mine is in the Atacama region of Chile. Chapada mine is located 270 km northwest of Brasilia in Goias State, Brazil. Mercedes gold-silver mine in Sonora, Mexico. Black Fox mine and Froome mine are located in Ontario, Canada.


TSX:SSL - Post by User

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Post by Einherjaron Feb 28, 2018 1:54pm
221 Views
Post# 27637853

New Joint Venture with IAMGOLD in Peru

New Joint Venture with IAMGOLD in Peru

Pucara Enters Option Joint Venture with IAMGOLD in Peru and Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - February 28, 2018) - Pucara Resources Corp ("Pucara" or the "Company") is pleased to announce the execution of a joint venture agreement with IAMGOLD Peru S.A., a wholly owned subsidiary of IAMGOLD Corporation, for the exploration of the Company's Santo Tomas Project (now known as the Los Tambos Gold Project), and to provide an update on Pucara's corporate activities and exploration programs.

Los Tambos Gold Project with IAMGOLD

Los Tambos, which encompasses Pucara's Santo Tomas property is located in the Ayacucho Region of southern Peru. Pucara geologists have identified a high sufidation, gold bearing system,which hosts a large alteration footprint coincident with an extensive resistivity (IP) anomaly in the northern part of the property supported by rock chip geochemistry up to 2.0 g/t gold. The IAMGOLD exploration team is assessing this and other targets on the property to finalize a drilling program expected to commence in 2018 -2109 once permits and approvals are granted. The Los Tambos property has recently been expanded and now covers 7,600 hectares. Pucara has established strong, positive community relations with the local communities.

Pursuant to the joint venture agreement IAMGOLD may earn a 60% interest in the property by spending US$4.0 million for project work and making US$500,000 in payments to Pucara over the next 4 years. Upon vesting, IAMGOLD has the option to earn an additional 10% interest over two years by producing a one million ounce gold equivalent resource as defined within NI 43-101, and to pay Pucara the equivalent of US$ 2.00 per ounce of gold equivalent for the total resource defined by the NI 43-101compliant resource estimate.

Corporate Activities and Financings

In late 2017 Pucara completed corporate financings totaling C$5.2 million. Private placements yielded C$4.2 million from sales of units priced at C$0.40. A unit is comprised of one common share plus a half warrant priced at C$0.60 for 36 months. Investors include Sandstorm Gold Ltd., which also purchased a 1.0% NSR royalty on each of seven exploration-stage properties held 100% by Pucara, for additional proceeds of C$1.0 million.

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