Sunstone Metals Ltd (ASX:STM) has received strong soil sampling assays confirming that the El Palmar Project in northern Ecuador comprises a growing cluster of gold-copper mineralised porphyry deposits.
The El Palmar auger soil sampling program is covering several additional targets surrounding the main El Palmar target with the aim of advancing these to the drill testing stage.
A composite image showing copper and gold soil anomalism over magnetics with the SE and NE satellite targets highlighted. Also note the development of an additional Eastern Anomalous Zone, which expands the size of the El Palmar target areas.
Managing director Malcolm Norris said the latest results again highlighted the significant upside at El Palmar.
“We are clearly on to a big system with immense potential.
“We are already generating new drilling targets which we are confident will expand the mineralisation envelope.
“The presence of stockwork mineralisation at surface, together with copper and gold anomalies in soil associated with magnetic bodies which are comparable to the main El Palmar discovery is very encouraging."
Detailed geological mapping and rock chip sampling
Sunstone is acquiring a 100% interest in the El Palmar Project and currently holds 51% under the Staged Acquisition Agreement signed on August 12, 2020.
The project is in northern Ecuador in the vicinity of the 1 billion tonnes Llurimagua copper-molybdenum porphyry deposit and in the same regional structural belt that hosts the 2.6 billion tonnes Alpala copper-gold deposit within the Cascabel project.
Detailed geological mapping and rock chip sampling is being undertaken in parallel with the soil sampling and is continuing to identify multiple areas of interest within the El Palmar concession.
The southeast satellite target area comprises a bullseye magnetic anomaly with coincident surface soil copper, gold, and silver.
This area also has had some historical surface rock chip sampling (25 samples) which delivered 60 metres of 0.33g/t gold and 0.12% copper.
The target area has been expanded with recent mapping and sampling which identified additional areas of oxidised stockwork veined diorite visually similar to the host rocks of mineralisation at the main El Palmar drilling area.
Soil sampling grid showing the location of the satellite targets relative to the main El Palmar target and drilling status.
The northeast satellite target has been modelled as a deeper magnetic body, possibly linked to the main El Palmar magnetic body.
Notably, the surface geochemistry is anomalous in silver, lead and zinc and other typically ‘high level’ porphyry pathfinder elements interpreted to represent the upper alteration zone of a porphyry system.
This interpretation is shown clearly in the image below where the significance of the NE satellite target becomes obvious.
Magnetics image showing the main El Palmar anomaly, measuring ~700 metres diameter, and the SE and NE porphyry targets. Note the bullseye magnetic anomaly at the SE target which now corresponds to the area of anomalous gold and copper from the soil sampling program. Also shown are the locations of the current drill holes, EPDD008 – targeting the SW extent of drilled mineralisation in holes 1 and 3, and EPDD009 - targeting the deep magnetic anomaly.
The soil sampling has also identified a new Eastern Anomalous Zone, with coincident gold and copper and molybdenum (porphyry signature) results, which expands the size of the overall El Palmar target.
This area will be further investigated.
Drilling underway at El Palmar
Norris added: “Drilling of hole EPDD008 at the main El Palmar target is underway.
“The second drilling rig has arrived at the project and commenced hole EPDD009 which will test the deep magnetic targets.
“In 2022 we will turn our attention to drill testing the satellite targets.
“We have considerable upside to unlock at El Palmar.”
Bramaderos drilling
At the high-grade Alba gold target on the Bramaderos Project in southern Ecuador, drilling of the fourth hole is underway.
Drilling to date has intersected similar alteration to that seen in the first hole that delivered visible gold and 29.2 metres at 7.68 g/t gold within 111metres at 2.35 g/t gold.
Sunstone’s cash and equity investments remain strong at ~$18 million, allowing expanded exploration activities at both El Palmar and Bramaderos.