Sunstone Metals (ASX:STM) was being watched by HotCopper users on Wednesday as the company continues to shape up its geological data ahead of a formal silver-gold MRE at Limon, Ecuador.
Located in the country’s south, Sunstone is intending to book a near-surface silver gold JORC compliant resource for the project, one where mineralisationn boundaries remain undefined.
Today the company highlighted a 50m intercept grading at 1.43g/t gold equivalent for 1g/t gold and 34g/t silver. “Very high” silver grades were found in a second intercept less than a metre in width under 145m of dirt.
A third hole hit silver and gold from 45m depth boasting similar grades to the first.
Ultimately, Sunstone interprets this data confirms a continuation of the Central Shoot target of interest. On Wednesday, the company said results shows gold and silver mineralisation continues “into new areas.”
“Sunstone is on track to calculate a near-surface resource at Limon as part of its two- phase goal to establish a development at the Limon gold-silver deposit,” the company wrote on Wednesday.
Managing Director Patrick Duffy was more to the point.
“Limon just keeps getting bigger with virtually every drillhole as we expand the known mineralisation and increase our understanding of the Limon system,” Duffy said.
“This is a large gold-silver system that comes to surface and the boundaries are still not defined. These results will help underpin a maiden resource estimate at Limon.”
STM last traded at 1cps.