- Sunstone Metals (STM) has released outstanding copper results from four diamond drill holes at the Viscaria Copper Project in northern Sweden
- Viscaria is owned by Copperstone Resources AB, which Sunstone holds a 25 per cent interest in
- The results show significant copper intersections both inside and outside the mineral resource
- Further drilling will commence in the upcoming quarter and is aimed at upgrading the mineral resource
- Additionally, Sunstone has resumed exploration at its majority-owned Bramaderos Project in Ecuador
- Company shares are trading 7.69 per cent higher at 0.7 cents each
Sunstone Metals (STM) has announced further outstanding results from four diamond drill holes at the Viscaria Copper Project in northern Sweden.
The Viscaria Project is owned by Nasdaq Stockholm-listed Copperstone Resources AB. Sunstone holds a 25 per cent interest in Copperstone, which is valued at around $16.8 million. However, there is potential for a further deferred consideration of about $7.9 million.
Copperstone has completed an 8000-metre drilling program at Viscaria and has reported multiple high-grade copper intersections from the D Zone orebody.
Results include; 18.9 metres at 1.3 per cent copper from 468.1 metres, 7.1 metres at 3.8 per cent copper from 615.2 metres, including 0.6 metres at 20.1 per cent copper from 617.6 metres and 9.3 metres at one per cent copper from 689.5 metres.
The results show significant intersections of copper inside as well as outside the Mineral Resource boundary.
This drilling is part of a planned 22,000-metre pre-mine drilling program which will resume in the September quarter.
Copperstone will now commence work on upgrading the Mineral Resource inventory and scaling up its project plans.
The project currently contains a Mineral Resource of 52 million tonnes with 1.2 per cent copper.
Exploration has now resumed at Sunstone’s 87.5 per cent-owned Bramaderos Gold Project in Ecuador where some COVID-19 restrictions have eased.
The Bramaderos Gold-Copper Project is located in the Loja province, southern Ecuador, and is considered to be highly prospective for large porphyry gold-copper systems and high-grade epithermal gold systems
Targets are currently being refined through trenching, detailed mapping, rock chip sampling, and detailed soil sampling.
Drilling is expected to start at Bramaderos in September.
Company shares are trading 7.69 per cent higher at 0.7 cents each at 10:56 am AEST.