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Highlights
- Sunstone Metals Ltd (ASX:STM) shared that drilling at the Limon target has intersected a gold-copper porphyry system.
- The Limon target is within the Bramaderos Project.
- With further drilling, Limon is likely to contribute to the conversion of a proportion of this exploration target to Mineral Resources.
Materials firm Sunstone Metals Ltd (ASX:STM), on 18 January 2023, shared that discovery from drilling undertaken in December 2022 at the Limon target has met with a gold-copper porphyry system. The Limon target is situated within the Bramaderos project in southern Ecuador. The Company has an advanced portfolio of exploration projects in Ecuador.
Key takeaways from Limon gold-copper porphyry discovery
- Sunstone announced today that it had discovered a well-mineralised gold-copper porphyry system at the Limon target. Limon target is located within the boundaries of the Bramaderos project in southern Ecuador, measuring 1.5km x 1km based on surface alteration and anomalous metal distribution.
- Significant results include 79m at 0.90g/t AuEq (0.52g/t gold, 0.19% copper, 9.4g/t silver), from 90m in LMDD010, including 34.7m at 1.26g/t AuEq (0.77g/t gold, 0.24% copper, 14.1g/t silver), from 94m. [The gold equivalent calculation formula is AuEq(g/t) = Au(ppm) + (Ag (ppm) x 0.0082) + (Cu (%) x 1.5862)].
- Sunstone's discovery strengthens the likelihood of more gold-copper porphyry systems within the 50kmsq Bramaderos concession. It also underlines the possibility of more such findings.
Data source- Company update, Image source- © 2023 Krish Capital Pty. Ltd
What’s in store?
With further drilling, Limon is expected to contribute to conversion of a proportion of the Bramaderos project Exploration Target to Mineral Resources. Exploration drilling is ongoing at Limon. Over the coming months, several other targets are likely to be drilled in the Bramaderos concession.
Recent share price performance
Shares of the company were spotted trading 4.5% lower at AU$0.042 on 18 January 2023, at noon. They have gained 5% on the ASX in the last one month of trading. In the last six months of trading, the shares of the company have shed 16%. In the last one year, the shares have tumbled by 61.82% while on a year-to-date basis, the company has moved up by 5% (as of 2:30 PM AEDT, 18 January 2023).
