Sandstorm Gold Provides Project Updates

Sandstorm Gold (NYSE:SAND; TSX:SSL) has provided an update at a variety of its projects underlying its streams and royalties.
As quoted in the press release:

The Cerro Moro project is a high grade gold and silver deposit in the Santa Cruz province of Argentina, currently in the development stage with first production planned for 2018. Yamana Gold Inc. (“Yamana”) has been carrying out a 2016 work program at Cerro Moro including the ramp-up of site construction activities, the continuation of detailed engineering, as well as the advancement of underground mining in order to gain a better understanding of in-situ mining conditions. Yamana’s planned expenditures for 2016 are expected to be approximately US$53 million, leaving US$224 million in total for 2017 and 2018, with the majority of the capital being spent in 2017. This development approach allows for further exploration drilling in order to increase the size of the Cerro Moro mineral resources, and to improve the current mineral resource categorization. The 2016 exploration program at Cerro Moro is expected to complete a total of approximately 16,000 metres of drilling and is focused on discovering a new high grade structure and expanding the current Indicated mineral resources.
Development progress at Cerro Moro is outlined below:

• 325 metres of underground development (of the 617 metres planned for 2016) were completed as of the end of the second quarter 2016;
• the ramp-up of site construction is continuing with bulk earthworks completed during Q2 2016 and the concrete contractor having mobilized to site;
• detailed engineering is 73% complete and is advancing to a planned 85% completion by the end of the 2016 year; and
• procurement progress is tracking well, the upgrade of an existing mine truck facility is advanced, and the phase 2 construction camp installation as well as the tailings dam design have concluded.

Click here to read the full press release.