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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) has received encouraging results from its first hole at the Brama porphyry prospect in Ecuador
  • Drilling began in February to target a vertically extensive porphyry system identified via 3D processing of detailed magnetics
  • Visual inspection has observed copper mineralised diorite and intrusive breccia from 150 metres to 450 metres
  • Drilling is expected to continue throughout March with results expected in May
  • Sunstone has also updated the market regarding its ground magnetics survey at the El Palmar Copper Gold Project
  • This survey is aiming to aid in the definition of a magnetite-rich potassic-altered core and work will be completed later this month
  • Sunstone is up 7.14 per cent and shares are trading at 1.5 cents

Sunstone Metals (STM) has received encouraging results from its first hole at the Brama porphyry prospect.

The Brama prospect is part of the Bramaderos Project which lies in the Loja province, 130 kilometres from the provincial capital city of Loja in Ecuador.

It is considered highly prospective for porphyry gold-copper systems and high-grade epithermal systems.

Drilling began in February to target a vertically extensive porphyry system identified via 3D processing of detailed magnetics.

This hole is currently at a depth of 735 metres and it is about to reach the second target depth of 800 metres.

Visual inspection of this hole is highly encouraging with copper mineralised diorite and intrusive breccia observed from 150 metres to 450 metres.

Furthermore, the 3D magnetic model shows a sub-vertical magnetic high above the breccia which broadens at depth.

Drilling is expected to continue throughout March with detailed results expected in May.

“This is a strong start to our porphyry copper-gold search. The results to date from hole BMDD008 at Bramaderos are very encouraging,” Managing Director Malcolm Norris said.

“We know from previous drill holes that the intrusive breccia cap is well mineralised and we can see evidence of mineralisation in BMDD008 in this position,” he added.

Sunstone has also updated the market regarding its ground magnetics survey at the El Palmar Copper Gold Project.

This survey is aiming to aid in the definition of a magnetite-rich potassic-altered core.

This survey will be completed in March with 3D inversion modelling expected to be completed in April.

A drill rig is expected to arrive onsite in Q2 to enable drill hole targeting.

“At El Palmar, ground magnetic data collection is just about complete and modelling will commence very soon. We are very excited about the potential of El Palmar to host a significant porphyry copper gold system,” Malcolm concluded.

Sunstone is up 7.14 per cent and shares are trading at 1.5 cents at 1:04 pm AEDT.

STM by the numbers
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