- Sunstone Metals (STM) begins drilling at a porphyry copper-gold target within its El Palmar project in Northern Ecuador
- Two drill rigs are in operation at the project, with one testing the T2 target, where the company has noted trace levels of mineralisation
- The other rig is testing the Tituana epithermal target and has confirmed the presence of an epithermal gold-silver-base metal system
- Sunstone is also active at its southern Ecuador Bramaderos project, where drilling is underway at the Limon target
- STM shares last traded at 3.1 cents on March 15
Sunstone Metals (STM) has begun drilling at a porphyry copper-gold target within its El Palmar project in Northern Ecuador.
Two drill rigs are in operation at the project — one of which is at the T2 target, where drilling began earlier this month and has returned trace levels of mineralisation including chalcopyrite and molybdenite.
This target is part of a cluster of at least five porphyry systems that span 2.6 kilometres by one kilometre.
Sunstone has confirmed through drill testing that three of these systems are mineralised: T1, T2 and T5. In particular, drilling at the T5 target returned 60 metres at 0.25 grams per tonne (g/t) gold and 0.13 per cent copper.
The other targets, T3 and T4, are yet to be drilled.
The company has defined new targets at T1 through a 3D geological model following previous results that included 867 metres at 0.26 g/t gold and 0.1 per cent copper from surface.
STM said the definition of vertically-extensive mineralisation at T1 and the increased confidence in the geometry of higher-grade domains was “significant” for the next drill program at T1.
Meanwhile, the second drilling rig is testing the Tituana epithermal target, where the company’s Managing Director, Malcolm Norris, said “very encouraging” mineralisation had been intersected across multiple vein systems.
“At Tituana, assays have been received from the first three holes of an 11-hole program,” Mr Norris said.
“The results confirm the presence of an epithermal gold-silver-base metal system in multiple veins.
“Visual results from recently-completed holes suggest that mineralisation extends over 200 metres of strike but is open to the north and south.”
Sunstone expects to be in the main target zone at T2 within a fortnight.
STM shares last traded at 3.1 cents on March 15.