Sunstone Metals talks significant Limon exploration target
November 13, 2023 at 12:46 am EST
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Sunstone Metals Ltd (ASX:STM) MD Malcolm Norris tells Proactive the company has defined a significant exploration target for the Limon gold-silver discovery within the Bramaderos Project in Ecuador, highlighting the scope for a substantial resource and a significant development. The initial exploration target — just 10 months after the discovery was made — comprises the Limon ‘Central Shoot’, the surrounding mineralised area measuring 800 metres by 300 metres, and three of the additional six satellite targets outlined to date. Limon's conceptual exploration target consists of 30 to 44 million tonnes at a grade of between 0.9 and 1.2 g/t gold equivalent, for between 900,000 and 1.7 million ounces gold equivalent (comprising gold and silver only).
Norris said: “This initial exploration target highlights the scope for a substantial resource and a significant development at Limon.
“The total inventory is growing at Bramaderos, and we are moving towards our stated goal of a 10-million-ounce gold district.
“And it must be emphasised that Limon, and other areas of mineralisation at Bramaderos, are ideally located for a mining development.
“There is existing grid power (93% renewable), the Pan American Highway is within 3 kilometres of the gold-silver-copper deposits, the area is between 900-1,100 metres above sea level, and Ecuador has a clearly defined process for moving from exploration to development”.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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Sunstone Metals Limited is an Australia-based mineral exploration company. The Companyâs principal activity is engaged in the mineral exploration and evaluation. The Company has gold and copper assets in Ecuador. The Companyâs assets are the Bramaderos Gold-Copper Project and El Palmar Copper-Gold Project. The Bramaderos Property is located in southern Ecuador and is centered approximately 69 kilometer west-southwest of the provincial capital city of Loja, over 213 kilometer south-southeast of the coastal city of Guayaquil and 460 kilometer south-southwest of Quito. The El Palmar Project is located in northern Ecuador and approximately 60 kilometers northwest of Quito, Ecuadorâs capital city. The Companyâs wholly owned subsidiaries include Avalon Minerals Adak AB, Scandian Metals Pty Ltd and Sunstone Metals Canada Limited.