Sunstone Metals Ltd (ASX:STM) has struck gold results described as "outstanding" at the Limon gold-silver discovery, part of the company’s broader Bramaderos Project in southern Ecuador.
The results of up to 269 metres at 1.05 g/t gold equivalent including high grades of up to 66 g/t, not only extend the Limon discovery but also double the known true width of the Central Shoot to 125 metres.
Large, shallow, growing discovery
Managing director Malcolm Norris said the latest results showed Limon was a large, shallow discovery which was continuing to grow. “This latest intersection significantly expands the dimensions of Limon, which now has key scale similarities with many open pit gold operations.
“We have numerous wide intersections of more than 1 g/t gold equivalent (AuEq) with zones of high-grade mineralisation. These zones are returning very high peak gold and silver assays which show Limon is a multi-ounce per tonne system in some areas.”
Drill hole LMDD040, drilled at right angles to prior holes, significantly impacts the scale of the high-grade Limon gold-silver mineralisation.
Peak assays in this hole graded 66 g/t gold and 898 g/t silver at 283 to 284 metres.
Results from LMDD040 are:
- 269 metres at 1.05 g/t AuEq (0.82 g/t gold and 18.5 g/t silver) from 74 metres, including;
- 124 metres at 1.93 g/t AuEq (1.54 g/t gold and 31.8 g/t silver) from 190 metres, including;
- 11 metres at 14.15 g/t AuEq (12.33 g/t gold and 149.3 g/t silver) from 280 metres.
Large extent of Central Shoot
Meanwhile, the Central Shoot at Limon now has a lateral scale exceeding 100 metres and a vertical extent of at least 250 metres.
It is surrounded by additional multiple mineralised structures, with significant grade, over an extent of 800 metres by 300 metres and open.
Intersections in the Central Shoot to date include:
- 176.7 metres at 1.09 g/t AuEq from 6.8 metres;
- 185 metres at 2.85 g/t AuEq from 90 metres; and
- 31 metres at 12.93 g/t AuEq from 146 metres.
Surrounding this shoot are multiple mineralised structures with noteworthy grades, covering an area of at least 800 metres by 300 metres.
These findings further establish Limon's broader potential within the 1.7-kilometre by 700-metre alteration zone, indicating the presence of additional mineralised bodies.
The company’s hypothesis is that the Limon discovery holds the potential to either stand as a significant independent operation or serve as a starter pit for the Bramaderos porphyry development.
Notably, Limon is not included in the December 2022 mineral resource estimate of 2.7 million ounces AuEq or the exploration target of between 3.3 and 8.6 million ounces AuEq at Bramaderos.
The drilling program at Limon is now complete, and drilling rigs are on standby awaiting all assay results, due in November.
The Limon target is strategically located 2.7 kilometres northeast of the Brama-Alba-Melonal gold-copper deposits, adding further value to the already significant Bramaderos project.
Favourable infrastructure
The project is favourably situated near the Pan American highway and proximal to hydroelectric power sources, bolstering its economic feasibility.
With Ecuador sourcing 93% of its power from renewables, the project is well-positioned to capitalise on the burgeoning demand for clean energy-sourced metals.
The project enjoys strong community support and benefits from the proximity to commercial airports and significant urban centres like Loja, with a population of 200,000.
It is covered by three valid concessions, and plans are underway to explore multiple gold-silver and gold-copper-silver porphyry opportunities.
“These results will help underpin the Limon Exploration Target (NYSE:TGT) planned for later this quarter," Norris said.
“We believe this will demonstrate the potential for a substantial open pit development at Limon, which will in turn pave the way for a very large gold-copper-silver development across the wider Bramaderos project which houses the Limon, Brama, Alba and Melonal mineralised systems.”