Join our daily newsletter At The Bell to receive exclusive market insights
- Sunstone Metals (STM) has discovered a significant silver-gold-zinc-lead system at the Espiritu target within the Bramaderos Project in Ecuador
- Results from the recent program peaked at 1069g/t silver, 0.7g/t gold, 5.5 per cent zinc, and 1.6 per cent lead
- Drilling has only been completed to a depth of 145 metres and length of 180 metres, suggesting there is significant scope for a larger system
- Sunstone will now undertake drilling at the Brama porphyry gold-copper system with work scheduled to begin before the end of the year
- Company shares are down 7.14 per cent on the market and are trading at 1.3 cents
Sunstone Metals (STM) has discovered a significant silver-gold-zinc-lead system at the Espiritu target within the Bramaderos Project in Ecuador.
The 49-hectare Bramaderos Project lies in the Loja province, 130 kilometres from the provincial capital city of Loja.
It is considered highly prospective for the discovery of large porphyry gold-copper systems and high-grade epithermal systems.
Results have peaked at 1069g/t silver, 0.7g/t gold, 5.5 per cent zinc, and 1.6 per cent lead and they suggest that the mineralisation grade increases as drilling continues to the south.
Further, drilling has only been completed to 145 metres below surface and across 180 metres in strike, suggesting there is significant scope for a larger system.
“These assay results are extremely encouraging. They demonstrate that potentially economic precious metal and base metal grade occur within the Espiritu system across multiple lodes,” Managing Director Malcolm Norris commented.
“There is clearly immense potential at Espiritu, which has not seen any historical exploration, and in light of these results, we will accelerate our exploration program,” he said.
“This is the first discovery of a silver-gold-zinc- lead system in the Bramaderos district and as such justifies some optimism that this may develop into a large system with further exploration,” Malcolm added.
Sunstone will now undertake drilling at the Brama porphyry gold-copper system with work scheduled to begin before the end of the year.
Company shares are down 7.14 per cent and are trading at 1.3 cents at 1:17 pm AEDT.
