Guyana , Argentina , Mexico and Chile
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Junior exploration, appointments roundup: Sandspring, Prospero, NGEx

Bnamericas Published: Thursday, February 04, 2016

Vancouver-based Sandspring Resources reported exploration results from its Toroparu gold project in Guyana.

Highlights of 3,691m in 35 diamond drill holes at the property's Sona Hill target included 5.9m of 23.4g/t gold, according to a statement.

The company, which has completed a 100km2 geochemical study at concessions on the northwest area of the property, plans further exploration work at the project.

***

Vancouver's Prospero Silver said it renegotiated exploration expenditures at the San Luis del Cordero silver project in Durango, Mexico.

Prospero was originally committed to making US$450,000 in cash payments to Exploraciones del Altiplano, US$1.65mn in exploration investment and a 392,000 share issuance. To date, Prospero has paid US$102,333, made US$1.08mn in exploration expenditures and issued 108,000 shares. Under the new terms it will issue 600,000 additional Prospero shares to Altiplano, the company said.

Prospero and US miner Golden Minerals last year signed a JV to develop Cordero's Santa Rosa vein, where Golden has begun sampling and metallurgical testing.

***

Vancouver-based NGEx Resources, which is developing copper-gold projects in Chile and Argentina, said it appointed Joyce Ngo as interim CFO.

Ngo, who replaces Chester See, is a graduate of Simon Fraser University and was formerly NGEx's corporate controller and a former accountant with KPMG, the company said in a statement.

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