Sunstone Metals Ltd (ASX: STM) has intersected more visible gold at the Limon target within the Bramaderos project in southern Ecuador.
Hole LMDD020 intersected the visible gold within an intermediate sulphidation epithermal system at a down-hole depth of 665.2m. The vein containing the gold and base metals was close to parallel to the core axis and was measured over a distance of approximately 1.0m. Scattered elevated base metal intervals from visual logs and confirmed by pXRF were intersected in several intervals of LMDD020. This included 0 – 85m, 140 – 150m, 174 – 195m, 450 – 540m, 663 – 666m. These intervals will be prioritised for assay.
The Limon target area is located 2.7km north-east of the Brama-Alba gold-copper deposit, which hosts a porphyry gold-copper-silver Mineral Resource of 2.7Moz AuEq.
“Limon is emerging as a major gold discovery. We now have two rigs there. One is completing hole LMDD020, which has intersected this very exciting epithermal gold system, and is targeting a porphyry gold-copper system at depth,” Managing Director. Malcolm Norris, said.
“The second rig will test the phenomenal results from LMDD017 that intersected 177m grading 1.1g/t AuEq.
“The Limon epithermal system could be large in its own right. We are seeing geologically similar styles of mineralisation over a vertical distance of at least 600m, and it is open laterally. This greatly expands our area of exploration and increases our confidence that we are onto something significant at Limon.
“This could have very significant ramifications for the total resource, the overall grade and the upfront development options at Bramaderos. We stand by our objective of discovering a 10Moz gold district with multiple deposits within four km of one another.
“We are preparing samples from LMDD020 for submittal to the assay laboratory and we will fast track selected intervals”.
A 2,200m drilling programme was planned as follow-up to LMDD017 results. This programme has commenced and will now be expanded to drill targets developed as a consequence of the presence of visible gold in LMDD020 at 665m down hole.
Assay results have also been received for holes LMDD018 and 019, which were drilled prior to the receipt of assays from LMDD017. Both holes have intersected zones of gold mineralisation and demonstrate that the epithermal domain remains open to the north, east and west, and at depth.
The Bramaderos project straddles the Pan American highway, and is close to available hydroelectric power, supporting the economics of potential development opportunities. Ecuador sources 88% of its power from hydroelectricity and is ideally placed to participate in the global demand for clean energy sourced metals. The project is also supported by nearby commercial airports and significant cities (Loja, population 200,000) and has strong community support.