Sunstone Metals Ltd (ASX:STM) CEO and former managing director Malcolm Norris has made the step up to non-executive chair for the company’s board, following the resignation of Graham Ascough, effective September 16, 2024.
STM managing director and in-coming CEO Patrick Duffy now holds the sole executive position, with Stephen Stroud and Neal O’Connor filling non-executive director roles.
Norris will continue to oversee the company’s exploration strategy, particularly the development of its gold-copper and gold-silver projects in Ecuador, which hold a mineral resource estimate of 156 million tonnes at 0.53 g/t gold for 2.7 million ounces of gold equivalent.
Read: Sunstone Metals hits high-grade gold-silver at Limon as it eyes maiden resource estimate
Major resource announcements incoming
“I have absolutely no doubt that there is immense value to be unlocked from Sunstone’s exploration projects,” Norris said.
“We are fully committed to achieving greater recognition of this value, which is the key objective of our two-pronged plan comprising project partnership discussions and preparations for major resource announcements.
“I will continue to be actively involved in the ongoing exploration strategy, including at our Limon gold-silver discovery, where I believe we are on track to establish a substantial near-surface resource.
“On behalf of the board, I would like to thank Graham for his strong service and enormous contribution to Sunstone over a long period.
“Graham played an important role in establishing the company’s asset base in Ecuador and in creating the corporate and financial environment, which resulted in the company making three major discoveries in a relatively short space of time.”
Limon’s conceptual exploration target offers a prediction of between 30 and 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 of gold.