Sunstone Metals Ltd (ASX:STM) has announced further high-grade gold-silver assays from the Limon epithermal discovery at the Bramaderos Project in southern Ecuador, significantly expanding the known epithermal mineralisation and identifying a new area of mineralisation.
The known epithermal mineralisation now occurs over a strike length of about 800 metres and is open in all directions. With this, Sunstone expects to be in a position to publish an exploration target later this quarter demonstrating the potential for a substantial near-surface mineral resource.
High-grade gold-silver mineralisation
These results continue to show the presence of structurally controlled high-grade gold-silver mineralisation extending from surface to greater than 300 metres deep.
The Bramaderos project currently hosts a porphyry mineral resource estimate of 2.7 million ounces at Brama-Alba, and an exploration target of between 3.3 million ounces and 8.6 million ounces gold equivalent with 255 to 360 million tonnes at a grade of 0.40 grams per tonne to 0.74 grams per tonne gold equivalent.
The company makes note that the Limon epithermal gold and silver deposit is not included in the 2.7 million ounce gold equivalent mineral resource estimate or exploration target at the Bramaderos project.
Sunstone managing director Malcolm Norris said, “Limon is a significant discovery and it continues to grow with every round of drilling and assays. There is now abundant evidence to demonstrate that the orebody has every potential to support a starter pit opportunity for the large-tonnage Bramaderos porphyry development.
“We intend to release an exploration target on the Limon epithermal system in this quarter and demonstrate potential for Bramaderos to deliver a global Tier 2 gold-copper-silver opportunity”.
Drilling results
Results from hole LMDD038 continue to define and expand the high-grade zone central shoot.
Sunstone said the results from drillhole LMDD039 are particularly important as they define multiple mineralised structures well to the southeast of the main drilling area and open this domain for further drilling and discovery of extensions of mineralised structures.
The current drill program has been completed and the rigs are now on stand-by while all assays are received, compiled, and interpreted. The company anticipates that additional assays will be received during November.