Large silver deposit found in Guyana – amounts to 6.3 million ounces

THE Canada-based mining Company, Sandspring Resources Ltd., announced last week that it had discovered a large deposit of silver at Toroparu in Region 7 (Cuyuni/Mazaruni) and that it intends to exploit this resource commercially.

Chief Executive Officer, Rich Munson, disclosed that the silver resource amounts to 6.3 million ounces and added that it lay within the boundaries of the company’s Main Pit and South-east Pit areas.

Its presence was identified by metallurgical testing and the completion of additional in-fill silver analyses on existing core drilling, during the period of May through August of 2014, when silver analyses of core/pulps were completed for approximately 12,000 samples.

He said the declaration of the silver deposit was significant for Sandspring because of the current high level of volatility in the mining sector.

Metallurgical testing, Munson said, had demonstrated recoverability of this silver in both of the proposed mineral processing streams of flotation and Carbon-in-pulp, and as such Sandspring has initiated discussions to utilise this silver resource to secure additional financial support for development of its gold-mining Project at Toroparu.

Sandspring Resources Ltd. is a Canadian junior mining company currently in advanced exploration and in the process of finalising a feasibility study for the multi-million ounce Toroparu Gold Project.
Silver, the white metal, has an illustrious reputation for its use in jewellery, coins and silverware, but its primary use is industrial.
In 2014, Mexico was the largest producer of silver worldwide.