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Sunstone Metals (ASX:STM) - Managing Director, Malcolm Norris
Managing Director, Malcolm Norris
Source: Boardroom Media [YouTube]
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  • Sunstone Metals (STM) is about to begin drilling at the highly prospective El Palmar copper-gold porphyry target in Ecuador
  • Work will begin with 2000 metres of drilling targeting the upper 400 metres of a significant circular magnetic anomaly
  • If mineralisation and alteration are encountered in the upper portions of the hole, drilling will continue beyond 400 metres
  • Furthermore, a soil sampling program currently underway has defined copper and gold anomalism consistent with a porphyry signature
  • Shares in Sunstone are up 8.33 per cent and are trading at two cents at 12:16 pm AEST

Sunstone Metals (STM) is about to begin drilling at the highly prospective El Palmar copper-gold porphyry target in Ecuador.

Work will begin with phase one drilling with 2000 metres planned to target the upper 400 metres of a significant circular magnetic anomaly.

If mineralisation and alteration are encountered in the upper portions of the hole, drilling will continue beyond 400 metres.

Prior drilling in 2012 confirmed the presence of a gold and copper porphyry system with detailed analysis confirming chalcopyrite and bornite.

Furthermore, a soil sampling program has been underway at the El Palmar target for several weeks.

Sunstone has sampled the area of a main magnetic targets and results define copper and gold anomalism consistent with a porphyry signature.

Managing Director Malcolm Norris is excited to begin drilling and is optimistic about the results.

“The drill target is robust based on coincident independent data sets. The coincident natured of the detailed magnetics data and soil sampling gives us optimism that we are about to drill a significant porphyry system,” Mr Norris said.

“It is very exciting times for Sunstone as we continue exploration and drilling on two porphyry targets in Ecuador. As we have been saying for the past few months, we have an increasing number of reasons to be optimistic regarding our planned drilling at El Palmar.”

Shares in Sunstone were up 8.33 per cent and were trading at two cents at 12:16 pm AEST.

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