2742 St. Joseph Blvd., Unit 200
Canada, K1C 1G5
Sunstone Metals (ASX code: STM)
- Target: Gold/Copper Porphyry and Epithermal styles of mineralization
- Located in Loja province in Southwestern Ecuador
- Early stage exploration has identified several areas with high potential for Au/Cu discoveries
- Permitting for initial round of drilling is progressing
- Most targets never have been drilled
- See News Releases:
Measuring 4,949 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital. The project is easily accessible via the Pan American Highway which crosses the property.
An extensive, 5 km by 1-2 km, gold and copper (+/- molybdenum) in-soil anomaly located in the central part of the property has been partially tested by trenching and diamond drilling with several anomalies still untested. Data integration and modeling indicate that historic drilling was carried out on the edges of the outcropping porphyry systems. Soil sampling is progressing over the entire concession and has identified new targets, with infill in selected areas is coinciding with continued geological mapping and rock chip sampling. Heli-magnetics and radio-metrics have been completed along with 2-D processing, and 3-D processing in progress.
All work required for the drilling EIA is completed and drilling will commence as soon as we receive a drill permit. The EIA process is well advanced and engagement with the Department of Environment is ongoing. The exploration program is fully supported by the local authorities and communities.
The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. ("PLAMIN"), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).