Sunstone’s El Palmar gold-copper discovery keeps getting bigger and bigger
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Latest assays from El Palmar in northern Ecuador have further expanded the area of known mineralisation with compelling new targets also defined for drill testing in October.
Sunstone Metals (ASX:STM) managing director Malcolm Norris says exploration is ramping up again after drilling rigs focused on the Brama-Alba resource definition drilling program in recent months.
Strong assays from holes EPDD0018, 19, and 20 have returned mineralisation close to surface with hits such as 100m at 0.50g/t gold and 0.17% copper from 5.5m within an intersection of 277.6m at 0.32g/t gold and 0.12% copper from 5.5m.
Other hits include 116.8m at 0.33g/t gold and 0.11% copper from 12.2m and 57.6m at 0.30g/t gold and 0.12% copper from 22.9m.
“Drilling within the main El Palmar circular magnetic target continues to define a large mineralised system and we are now able to build a 3D geological model of the El Palmar mineralised system and use that to guide our exploration,” Norris says.
“With several new targets now defined at El Palmar, the broader potential of this area is also continuing to grow.”
The company is looking ahead to a very exciting and active Q4, Norris explains, with several of these targets – like T2 and the Tituana epithermal target, scheduled for drilling.
This will take place as drilling continues in the main mineralised area.
STM says target T2, located east of the El Palmar porphyry system, has emerged as a very compelling porphyry gold-copper target based on several independent datasets.
Two drill holes have been planned and access is currently being established.
Drilling will commence at T2 as a priority in October, with the goal to deliver another porphyry gold-copper discovery within the El Palmar concession.
Several epithermal gold targets have also been defined within the El Palmar concession, with the highest priority at this stage being the Tituana target.
The target is currently undergoing trenching and infill soil sampling in areas where rock chip sampling has yielded a >85m-long (and open) zone from which 101 surface samples averaged 1.2g/t gold, 25g/t silver and 0.16% copper, with peak values for these elements being 6.47g/t gold, 225g/t silver and 0.78% copper.
Importantly, STM’s cash and equity investments remain strong at ~$19 million, allowing expanded exploration activities at both El Palmar in northern Ecuador and Bramaderos in southern Ecuador.
This article was developed in collaboration with Sunstone Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.