Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sunstone Metals (STM) continues to expand the area of known mineralisation at the El Palmar copper-gold porphyry project in Ecuador
  • Up to 0.92g/t gold and 0.23 per cent copper was intersected, with the results indicating El Palmar has substantial scale and grade in line with high-profile porphyry deposits
  • Soil sampling is rapidly progressing and providing definition to further targets within the project in preparation for drill testing
  • Work is progressing to the north and covering areas of outcropping gold mineralisation including historical results which peaked at 6.47g/t gold and 0.78 per cent copper
  • Sunstone is down 2.44 per cent steady on the market with shares trading at four cents at 11:58 am AEST

Sunstone Metals (STM) is continuing to expand the area of known mineralisation at the El Palmar copper-gold porphyry project in Ecuador.

Results come from holes EPDD0012, 013, 014, 015 and 017 and primarily come from the upper 500 metres of El Palmar.

Results include 153.4 metres at 0.47g/t gold and 0.10 per cent copper from surface including 33 metres at 0.92g/t gold and 0.16 per cent copper from 88 metres, and 69 metres at 0.39g/t gold and 0.23 per cent copper from 29 metres.

The results indicate that El Palmar have substantial scale and grade which is in line with those seen in many of the world’s high-profile porphyry deposits.

Soil sampling is rapidly progressing and providing definition to further targets within the project in preparation for drill testing.

Work is also progressing to the north and covering areas of outcropping gold mineralisation including historical results which peaked at 6.47g/t gold, 225g/t silver and 0.78 per cent copper.

“We are expanding the size of El Palmar, and therefore its value, with virtually every hole,” Managing Director Malcolm Norris said.

“The combination of the scale and the grades we are generating at El Palmar shows that this is clearly becoming a very valuable project in a world which desperately needs more large discoveries.

“Sunstone has two such discoveries and I have no doubt that this will be increasingly recognised by the market, particularly as we move towards a maiden JORC mineral resource estimate at Bramaderos, and advancing our definition of the El Palmar orebody, over coming months.”

Sunstone was down 2.44 per cent steady on the market with shares trading at four cents at 11:58 am AEST.

STM by the numbers
More From The Market Herald
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…

" Future Metals (ASX:FME) to raise $5.5m for Panton

Future Metals (ASX:FME) has received firm commitments for a heavily oversubscribed $5 million placement.

" Firebird Metals (ASX:FRB) raises $3.5m to accelerate Oakover development

Firebird Metals (ASX:FRB) has received firm commitments to raise $3.5 million via a placement from sophisticated…