VANCOUVER, July 2, 2015 /PRNewswire/ - Sandstorm Gold Ltd.
("Sandstorm" or the "Company") (NYSE MKT: SAND, TSX: SSL) is
pleased to provide an update at various projects underlying the
Company's streams and royalties.
LUNA GOLD ANNOUNCES CLOSING OF RESTRUCTURING AND
FINANCING
Luna Gold Corp. ("Luna") has closed the
previously announced $30 million
financing with Pacific Road Resources Funds, as part of which
Luna's gold steam and debt facility with Sandstorm were
restructured ("Luna Restructuring").
Concurrently with closing of the Luna Restructuring, Luna repaid
and settled its debt facility with Société Générale (Canada Branch) and Mizuho Corporate Bank. Luna
expects to use the remainder of the proceeds from the Luna
Restructuring to commence an infill drilling program, prepare
engineering studies and submit updated permits at its Aurizona
project in Brazil ("Aurizona") and
for general working capital and corporate purposes.
Sandstorm has a sliding scale net smelter returns royalty
("NSR") on Aurizona based on the price of gold. At gold prices less
than or equal to US$1,500 per ounce
the royalty is a 3% NSR. Sandstorm also holds a 2% NSR on Luna's
200,000 hectares of greenfields exploration ground.
For more information, visit the Luna website at
www.lunagold.com and see the press release dated
June 30, 2015.
METANOR RESOURCES ANNOUNCES POSITIVE DRILL
RESULTS
Metanor Resources Inc. ("Metanor") has released
positive drill results from its exploration activities at the
Bachelor Lake Mine in Quebec,
Canada ("Bachelor Lake"). A diamond drilling program has
been underway in the west sector of Bachelor Lake between
underground levels 6 and 8. The assay results have included 22.85
grams per tonne ("g/t") Au over 4.04 metres, 12.8 g/t Au over 10.8
metres as well as 6.82 g/t Au over 8.7 metres. In addition, Metanor
recently intersected mineralization in an unknown sector on level
12. The assay results returned 18 g/t Au over 1.5 metres.
Sandstorm has a gold stream agreement with Metanor to purchase
20% of the gold produced from Bachelor Lake at a per ounce price of
US$500 per ounce.
For more information, visit the Metanor website at
www.metanor.ca and see the press releases dated June 22, 2015, June 25,
2015, June 30, 2015 and
July 2, 2015.
CANADIAN ZINC DISCOVERS NEW VEIN SYSTEM DURING UNDERGROUND
DRILL PROGRAM
Canadian Zinc Corporation ("Canadian Zinc")
recently provided assay results from five diamond drill holes from
the ongoing underground exploration program at the Prairie Creek
Mine in the Northwest Territories,
Canada ("Prairie Creek"). Highlights included:
- Drill hole PCU-15-62 which intercepted a previously unknown
quartz vein fault structure 75 metres into the footwall of the Main
Quartz Vein (MQV) structure, and graded 8.3% Pb, 19.8% Zn and 150
g/t Ag across an estimated true width of 5.4 metres;
- PCU-15-65, drilled on the next section 50 metres north, 95
metres to the west of the MQV structure which graded 4.9% Pb, 22.7%
Zn and 164 g/t Ag across 1.2 metres of estimated true width, also
intercepted the second quartz vein structure and graded 4.6% Pb,
13.8% Zn, 92 g/t Ag across 2.9 metres of estimated true width;
- Diamond drilling of the lower portion of the MQV structure in
hole PCU-15-64 intersected two veins side by side (separated by
approximately 8 metres but both interpreted to be the MQV) grading
22.7% Pb, 9.7% Zn, 226 g/t Ag across 8.4 metres estimated true
width and 14.0% Pb, 3.5% Zn 194 g/t Ag across 5.1 metres estimated
true width, respectively;
- Multiple intercepts of stockwork mineralization were also
returned in all stockwork targeted holes including hole PCU-15-65
which graded 24.7% Pb, 32.7% Zn, and 311 g/t Ag across an estimated
true width of 2.4 metres and further down the hole 9.5% Pb, 38.1%
Zn, 381 g/t Ag across an estimated true width of 1.5 metres.
Canadian Zinc has completed over 5,000 metres of exploration
drilling since the beginning of 2015 from three drill stations. The
drilling program was completed at the end of June and the
geological data is being incorporated into a newly interpreted
geological block model. This data will be further interpreted,
modelled and incorporated into the future resource and reserve
calculations and a revised mine plan.
Sandstorm holds a 1.2% NSR royalty on the Prairie Creek
project.
For more information, visit the Canadian Zinc website at
www.canadianzinc.com and see the press release dated
June 23, 2015.
QUALIFIED PERSONS
Pascal
Hamelin, P. Eng., is Metanor's Vice President of Operations
and a Qualified Person as defined by NI 43-101. Mr. Hamelin has
reviewed and approved the technical information related to Bachelor
Lake in this press release.
Alan Taylor, P. Geo., is Canadian
Zinc's Chief Operating Officer & Vice President Exploration and
is a Qualified Person as defined by NI 43-101. Mr. Taylor has
reviewed and approved the technical information related to Prairie
Creek in this press release.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a gold streaming and royalty company.
Sandstorm provides upfront financing to gold mining companies that
are looking for capital and in return, receives the right to a
percentage of the gold produced from a mine, for the life of the
mine. Sandstorm has acquired a portfolio of 72 streams and
royalties, of which 14 of the underlying mines are producing.
Sandstorm plans to grow and diversify its low cost production
profile through the acquisition of additional gold streams and
royalties.
For more information visit: www.sandstormgold.com
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 applicable Canadian securities legislation, concerning
the business, operations and financial performance and condition of
Sandstorm Gold Ltd. ("Sandstorm"). Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold, 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
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 will operate in the future,
including the price of gold 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, gold 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 Sandstorm 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
Sandstorm 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 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, risks in the
marketability of minerals, fluctuations in the price of gold,
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 Sandstorm's annual report
for the financial year ended December 31,
2014 available at www.sedar.com. Although Sandstorm 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. Sandstorm does
not undertake to update any forward looking statements that are
contained or incorporated by reference, except in accordance with
applicable securities laws.
SOURCE Sandstorm Gold Ltd.