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Sunstone Metals (ASX:STM) - Managing Director, Malcolm Norris
Managing Director, Malcolm Norris
Source: Sunstone Metals
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  • Sunstone Metals (STM) says it has received “exceptional” assay results from its first hole drilled at the new Alba target within its Bramaderos Project in Southern Ecuador.
  • Assay results from the first hole drilled include 111 metres at 2.3 grams per tonne (g/t) gold, including 7.2 metres at 26.9g/t.
  • The company says it’s highly encouraging that mineralisation was intersected at a relatively shallow depth of around 65 metres from surface
  • The company plans to follow up its initial results with more drilling immediately
  • Sunstone Metals jumped 29 per cent, trading at 8.9 cents at 10:50 am AEDT

Sunstone Metals’ (STM) shares have soared after it announced “exceptional” assay results from its first hole drilled at the new Alba target within its Bramaderos Project in Southern Ecuador.

Sunstone owns an 87.5 per cent interest in the Bramaderos Gold-Copper Project, with Cornerstone Capital Resources holding the remaining 12.5 per cent. The project is considered highly prospective for large porphyry gold-copper systems and high-grade epithermal gold systems.

Assay results from the first hole drilled at the Alba target include 111 metres at 2.3 grams per tonne (g/t) gold, including 7.2 metres at 26.9g/t.

The company said it’s highly encouraging that mineralisation was intersected at a relatively shallow depth of around 65 metres from the surface, remaining open up and down dip, plus along strike.

“This has long been an area where we were keen to advance our exploration program and these results justify our systematic approach to testing multiple targets,” Sunstone Managing Director Malcolm Norris said.

 “The intersection at Alba is clearly an exceptional result which we will follow-up immediately.”

The Managing Director also noted the broader Alba target opens up a number of areas for drill testing.

The drill rig on site at Bramaderos is currently completing a hole at the Brama prospect and will then be moved to the Alba target next week. Follow-up drilling will initially involve testing the depth extent of an intersection, before later testing the lateral extent.

Sunstone Metals skyrocketed 29 per cent, trading at 8.9 cents at 10:50 am AEDT.  

STM by the numbers
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