Sunstone Metals (STM.AX) has released an exploration update on its Bramaderos project in Ecuador. All ten holes that have been assayed so far have returned long mineralized intersections, with the most recent holes encountering mineralization outside of the current resource (which hosts a total of 220 million tonnes of rock at 0.33 g/t gold, 0.10% copper and 1.20 g/t silver).
Hole PTDD004 encountered 116 meters of 0.36 g/t gold and 0.12% copper while hole PTDD005 encountered 99 meters containing 0.19 g/t gold and 0.08% copper. These two holes were drilled on the Porotillo target which is located directly south of the main resource, as the image on top of this article shows.
That main resource already hosts 3.6 million ounces of gold equivalent, and the two exploration targets offer potential for an additional 4.1-11.2 million ounces of gold-equivalent on top of that. As you’ll notice, the upper end of that range would push the Bramaderos project towards a 15 million ounce gold-equivalent resource.
The company has now completed 16 holes of the 28 hole drill program with all initial holes returning mineralization.
Disclosure: The author has no position in Sunstone Metals. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
