Sunstone Metals Ltd Provides Wider Gold-Copper Intersections From El Palmar Drill In Ecuador


It is important to note that all the holes drilled so far are mineralized at shallow depths, confirming the theory that El Palmar is the host of a large discovery of gold-copper porphyry.

Sunstone Metals Ltd (ASX: STM) saw further success in its gold-copper discovery of El Palmar in northern Ecuador after the third hole in its drill program revealed intersections described as “Exceptional”.

The hole returned 259.56 meters at 0.41 g / t gold and 0.14% copper (0.63 g / t gold equivalent) from 10.4 meters and at the inside 105.09 meters at 0.75 g / t gold and 0.75% copper (1.07 g / t gold equivalent) from 32 meters.

Overall, recent assays indicate substantial grades and widths of gold and copper porphyry mineralization in five holes across a 300 meter mineralized zone, which remains open on the south side of the El Palmar Magnetic Complex.

Three more holes have since been completed on the gold-copper property, while a seventh is in progress.

It is important to note that all the holes drilled so far are mineralized at shallow depths, confirming the theory that El Palmar is the host of a large discovery of gold-copper porphyry.

“Large system with enormous potential”

Sunstone chief executive Malcolm Norris said it was clear the company had made a major discovery at El Palmar.

“These results are very good and continue to support our view that El Palmar is a substantial discovery.

“It’s a great system and it has enormous potential.

“This is only the beginning, but more importantly, every hole has been mineralized.

“We are improving our understanding of the geology and controls of mineralization, and we continue to provide good grades and widths with mineralization that begins at the surface.

“We are in the process of drilling hole seven. In early December, we plan to have a second drilling rig on the project that will drill the deep magnetic targets. “

All eyes on deep targets

Norris continued, “We are seeing evidence that the first seven holes define the upper parts of a large porphyry system with multiple mineralizing intrusions set up in the rock faces.

“In light of this, we are increasingly excited about the deep targets and the potential for the mineralization to have a vertical extent of over a kilometer. “

Norris went on to say that results from surface soil sampling of two of the highest priority porphyry satellite targets are expected before the end of this year.

Ultimately, these results could further increase the potential of the project.

About El Palmar

Sunstone is acquiring a 100% stake in the El Palmar project and currently owns 51% under a phased acquisition agreement it signed in August of this year.

The project is located in northern Ecuador, near the 1 billion tonne Llurimagua copper-molybdenum porphyry deposit.

It is also in the same regional structural belt that is home to the Alpala copper-gold deposit of 2.6 billion tonnes within the Cascabel project.

The company is also preparing to drill the high-grade Alba gold target in Bramaderos, southern Ecuador, with a five-hole 2,000-meter program starting this weekend.

Ultimately, Sunstone maintains that it is well funded to continue exploration on both properties, given its cash balance of approximately A $ 19 million.


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