Sunstone Metals Ltd (ASX:STM) has intersected a large porphyry copper system during drilling at the T2 target within its El Palmar porphyry gold-copper project in northern Ecuador.
Drill hole EPDD026 intersected the extensive magnetic complex measuring at least 1,000 metres vertically with a large lateral extent.
The discovery has been confirmed by visible chalcopyrite distribution and is supported by portable X-ray fluorescence (pXRF) results.
Assays from EPDD026, which are expected to come in batches over the next four to six weeks, are expected to confirm this initial assessment.
Drill core from EPDD026 showing strong stockwork veining.
A deeper look
The intersection is in the area where targets T2 and T3 merge, strengthening as the hole extends, which suggests T3 hosts the most prospective part of the system and has a more extensive lateral footprint than the T1 target.
More importantly, the T3 target is centred on the regionally-significant Toachi Fault zone, and is similar in structure and geology to the 3 billion-tonne Alpala copper-gold porphyry deposit within SolGold’s Cascabel project, about 65 kilometres to the northeast.
Northwest-southeast section showing the T1 system, which is mineralised from surface, and the trend of EPDD026 through the T2 geophysical anomaly, and into the T3 magnetic anomalies.
Exciting time
Sunstone managing director Malcolm Norris said: “Drill hole EPDD026 has tested three targets, firstly the upper gold anomalous zone at T1-T2 drilled in holes EPDD022, 23 and 24, secondly the large MT geophysical anomaly in the southern part of the T2 target at an intermediate depth, and thirdly, at depth on the northwest margin of the large cluster of magnetic bodies that make up the T3 target.
“It is in this third environment on the margin of the T3 magnetic complex that an extensive porphyry system is now being intersected.
“While it is early days, it is very exciting to have identified a mineralised porphyry copper system at T3 and to have identified a very large domain of potential mineralisation extending towards surface defined by magnetic bodies.”
El Palmar is in northern Ecuador in the same regional structural belt that hosts the Alpala copper-gold deposit grading 0.25 g/t gold and 0.37% copper, and in the vicinity of the 1 billion-tonne Llurimagua copper-molybdenum porphyry deposit grading 0.89% copper and 0.04% molybdenum.
El Palmar project showing porphyry cluster capturing targets T1, T2, T3, T4 and T5.