Announcement Date: 2021-11-29
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Sunstone Metals Ltd.
Project name: El Palmar
Location: Ecuador
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: Drilling results incl. 259.56m @ 0.41g/t Au, 0.14% Cu, 1.77ppm Mo, 0.8g/t Ag from 10.44m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Sunstone Metals Ltd (ASX: STM) is hereby lodging an amended version of the ASX announcement dated 25 November 2021, with the references to gold equivalents removed at the request of ASX to satisfy the requirements of the JORC Code, Clause 50, which states “Reporting on the basis of metal equivalents is not appropriate if metallurgical recovery information is not available or able to be estimated with reasonable confidence.” Sunstone Metals Ltd (ASX: STM) is pleased to announce more outstanding assays which confirm that the El Palmar deposit in northern Ecuador (Figure 4) is a significant gold-copper porphyry discovery. Sunstone is acquiring a 100% interest in the El Palmar Project and currently holds 51% under the Staged Acquisition Agreement signed on 12 August 2020 (see ASX announcement dated 12 August 2020). The project is located in northern Ecuador in the vicinity of the 1.0Bt Llurimagua copper-molybdenum porphyry deposit, and in the same regional structural belt that hosts the 2.6Bt Alpala copper-gold deposit within the Cascabel project (Figures 1 & 2). The El Palmar results reported in this release comprise all assays from drill hole EPDD003 and the previously unreported assays from portions of EPDD002. Drill holes EPDD004, 5 and 6 have now been completed (assays pending), and hole EPDD007 is in progress (Table 2). All holes are mineralised from shallow depths.
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