Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sunstone Metals (STM) has extended the Brama-Alba porphyry discovery to 1.1 kilometres long by 400 metres wide
  • This follows the receipt of new drill results which returned wide intervals of gold and copper
  • MD Malcolm Norris says the results “strengthen the potential and increase the scale of the Brama porphyry system” and plans to continue drilling at the Bramaderos project in Ecuador
  • Drilling will target a few deposits, with a specific focus on Brama and Alba to deliver a maiden MRE later this year
  • STM shares are down 1.75 per cent and trading at 5.6 cents at 11:17 am AEST

Sunstone Metals (STM) has received assay results from five drill holes completed at the Brama and Alba deposits in southern Ecuador.

These deposits are part of the broader Bramaderos project where ongoing drilling is planned for the remainder of 2022.

Highlighted results include 221.6 metres at 0.43 grams per tonne (g/t) gold and 0.11 per cent copper from surface in BMDD0014, and 93.3 metres at 0.55 g/t gold and 0.08 per cent copper from surface including 24 metres at 0.86 g/t gold and 0.1 per cent copper from surface in 015.

The above two holes were drilled to test higher grade intrusive breccias previously drilled in holes BMDD008 and 008W1.

Hole 017 was drilled at the eastern end of the Brama porphyry system and returned 84 metres at 0.5 g/t gold and 0.16 per cent copper from surface.

The company considers this drill hole to be well-mineralised and plans to re-enter it to test the possible extension of the deep mineralised zone.

BMDD018 was drilled to test an interpreted zone of higher-grade mineralised porphyry near surface. It intersected 57 metres at 0.74 g/t gold and 0.23 per cent copper from 30 metres.

Positively, these results have extended the Brama-Alba porphyry discovery to 1.1 kilometres long by 400 metres wide and it remains open to the east and west.

Managing Director Malcolm Norris said he was pleased with the latest round of assays.

“These strengthen the potential and increase the scale of the Brama porphyry system. As we have seen in previous assay results from Brama we continue to see very good gold-copper grades from surface,” Mr Norris said.

Sunstone Metals is continuing to drill the Brama and Alba areas in hopes of extending the mineralised system to the Melonal and Playas targets.

The company plans to incorporate the drill results into a maiden mineral resource estimate for the Brama-Alba deposits in late 2022.

STM shares were down 1.75 per cent to trade at 5.6 cents at 11:17 am AEST.

STM by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…