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Message: Sandstorm Gold Announces 13.4 g/t Over 9.5 Metres at Bachelor Lake
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Sandstorm Gold Announces 13.4 g/t Over 9.5 Metres at Bachelor Lake
VANCOUVER, Jan. 16, 2014 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm") (nyse mkt:SAND) is pleased to announce drilling results from the ongoing underground drilling program at the Bachelor Lake Mine ("Bachelor"), owned and operated by Metanor Resources Inc. ("Metanor") . Metanor is completing underground exploration drilling to extend the known mineralized zones and increase the mineral resources at Bachelor. Significant intersections from the drilling program are summarized in the table below:
| Hole | From (m) | To (m) | Width (m) | Au Grade (g/t) | Zone |
| 10-07 | 24.0 | 27.9 | 3.9 | 10.0 | H |
| 10-09 | 17.2 | 19.1 | 1.9 | 14.5 | H |
| 10-10 | 26.0 | 30.5 | 4.5 | 15.0 | H |
| 10-11 | 22.6 | 26.5 | 3.9 | 4.3 | H |
| 10-12 | 38.2 | 47.7 | 9.5 | 13.4 | H |
| 12-205 | 77.4 | 81.9 | 4.5 | 9.4 | 06 |
| 13-104 | 12.2 | 17.8 | 5.6 | 18.7 | E |
| 13-105 | 19.9 | 26.2 | 6.3 | 6.0 | E |
| 13-106 | 5.1 | 13.2 | 8.1 | 5.8 | E |
| 13-108 | 7.1 | 18.3 | 11.3 | 6.0 | 06 |
| 13-109 | 13.3 | 22.7 | 9.4 | 5.2 | 06 |
| 13-110 | 19.9 | 22.0 | 2.1 | 4.1 | 06 |
| 13-118 | 16.0 | 18.0 | 2.0 | 8.5 | 06 |
| 13-119 | 8.2 | 16.1 | 7.9 | 5.4 | 06 |
| 13-120 | 9.9 | 18.7 | 8.8 | 7.2 | 06 |
| 13-121 | 14.4 | 21.4 | 7.0 | 6.8 | 06 |
| 14-39 | 130.0 | 136.5 | 6.5 | 10.0 | E |
| 14-40 | 135.0 | 138.9 | 3.9 | 13.0 | E |
| 14-41 | 141.8 | 143.6 | 1.8 | 5.1 | E |
| 14-45 | 151.2 | 162.2 | 10.9 | 6.7 | E |
| 14-47 | 180.6 | 181.8 | 1.3 | 4.1 | E |
| 14-52 | 188.5 | 190.9 | 2.4 | 6.1 | E |
| 14-53 | 193.0 | 195.9 | 2.8 | 4.9 | E |
Recent drilling has focused on the Main vein in the Hewfran sector, identified as H in the table above, which is the lateral extension immediately west of the Main vein at Bachelor. The 06 zone corresponds to a new sector of the mine, west of the known sector on levels 13 and 14. Other drill holes from level 13 targeted the upper extension of the E zone where a drift on level 13 exposed a gold structure (see Metanor press release dated August 22, 2013). The drilling activity has confirmed the continuity of this gold mineralization, both downward and upward.
Sandstorm's President & CEO, Nolan Watson commented, "The positive drill results and continued ramp up of gold production at Bachelor Lake is encouraging for Sandstorm shareholders."
Sandstorm has a gold stream agreement to purchase 20% of the life of mine gold produced at Bachelor, at a per ounce price of US$500 per ounce.
Pascal Hamelin, P.Eng, Vice-president of Operations at Metanor, is the Qualified Person under NI 43-101 responsible for reviewing and approving the technical information contained in this news release.
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