Sunstone Metals (ASX:STM) has begun follow-up sampling and trenching at its Bramaderos Project in southern Ecuador in South America to follow-up on ‘high-grade’ gold and silver mineralisation.
The $45.34 million market capitalisation company has started the work following the discovery of ‘significant’ Bramaderos epithermal zones closer to the Brama and Porotillo porphyry targets.
Meanwhile, the company today (19 December 2023) announced it has expanded the Limon epithermal discovery through ‘exceptional and high-grade’ results.
The company notes results, generated from 3 surface trenches (LM04-05-06), indicate that Limon, which has already been established as a ‘significant’ discovery, could be a ‘very large’ gold-silver system by global standards.
The trenches sit 900m from the drilled Central Shoot but are still part of the defined Limon system, therefore greatly expanding the potential scale of the Limon gold-silver discovery.
According to Sunstone, several other trenches have been completed and sampled at Limon with assays pending.
Managing Director Malcolm Norris says these ‘positive’ results early in the exploration program provide confidence it is working on a ‘large’ system with widespread gold and silver from surface.
“We know from the Central Shoot drilling results that we have considerable vertical extent, so planned drilling here on this new western gold anomaly has the possibility of delivering rapid growth in contained ounces. We are confident of significantly increasing our recently released Exploration Target.”
“planned drilling here on this new western gold anomaly has the possibility of delivering rapid growth in contained ounces”
The company’s Bramaderos Project sits 2.7km northeast of the Brama-Alba-Melanol gold-copper porphyry deposits and has a porphyry gold-copper-silver Mineral Resource Estimate (MRE) of 2.7 million ounces (Moz) gold equivalent (AuEq) at Brama-Alba.
Sunstone Metals is a mineral explorer with a portfolio of ‘high quality’ gold and copper assets in Ecuador.
As of 30 September 2023, the company had $4.941 million cash and cash equivalents at hand, although earlier this month raised an additional $5 million to continue to grow its gold-copper-silver discoveries through a placement.
Write to Adam Drought at Mining.com.au
Images: Sunstone Metals