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Sunstone Metals (ASX:STM) receives high-grade gold and silver from Espiritu, Ecuador

Mining
ASX:STM      MCAP $42.00M
07 April 2020 14:00 (AEST)
Sunstone Metals (ASX:STM) - Managing Director & CEO, Malcolm Norris

Sourced: Morgans

Sunstone Metals (STM) has received high-grade gold and silver results from its Espiritu gold-silver target in Ecuador.

Espiritu is part of the company’s Bramaderos Project, which lies 460 kilometres south-southwest of Ecuador’s capital city, Quito, and covers an area of 4949 hectares.

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

Results returned from this most recent drill from Espiritu peaked at 11.6g/t gold and 2960g/t silver. High-grade lead, zinc and copper results were also returned.

“These are outstanding results which show Espiritu is a highly promising target,” Managing Director Malcolm Norris commented.

“Our view is supported by its close proximity to porphyry gold-copper targets and the fact that it is within the regional corridor that includes the two million-ounce Dynasty Goldfield Deposit to the southwest,” he added.

The data received and work completed so far has outlined an 800-metre strike extent of mineralisation that has the potential to double in length to 1600 metres.

These results came from the drilling program that was completed just before operations were temporarily suspended in Ecuador due to COVID-19.

Operations included surface rock chip sampling and geological mapping to test the outcropping mineralisation.

Even though Sunstone’s operations in Ecuador are on hold, the company’s desk work in Australia is ongoing, with data being interpreted to outline more targets to drill when operations resume.

Sunstone is up a steady 14.3 per cent and shares are trading for 0.8 cents each at 1:05 pm AEDT.

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