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Asia

Sunstone Metals Identifies Wide Gold-Copper Mineralization Zones at Ecuador Project

Sunstone Metals (ASX:STM) identified wide zones of gold-copper mineralization during a recent drilling at its Bramaderos Gold-Copper Project in southern Ecuador, according to a Thursday Australian bourse filing.The results were of up to 92 meters at 0.66 grams per tonne (g/t) gold equivalent (AuEq), including 0.42 g/t gold and 0.14% copper, with a higher-grade interval of 20 meters at 0.91 g/t AuEq from 0.66 g/t gold and 0.15% copper.The company said assays from holes at Porotillo reinforce the extensive mineralization encountered in five trenches and expand the area being defined by drilling, with 16 of a 28-hole program now completed and additional assays pending.The drill program aims to upgrade to resources a significant portion of the Copete-Porotillo exploration target of 135 to 180 million tonnes at 0.40 to 0.60 g/t AuEq for 1.7 to 3.5 million ounces AuEq, the filing added.

ASX:STM
Asia

Sunstone Metals' Drilling at Ecuador Project Intersects Wide Intervals of Gold, Copper Mineralization; Shares Jump 4%

Sunstone Metals (ASX:STM) intersected wide intervals of gold and copper mineralization in the second set of four holes of a drilling program across the Porotillo, Copete, and Melonal porphyry systems within the Bramaderos project in Ecuador, according to a Thursday Australian bourse filing.It intercepted 250.4 meters at 0.43 grams per tonne grade of gold-equivalent, including 0.25 g/t grade of gold and 0.11% copper from surface at Melonal.It also encountered intercepts of 200.5 meters at 0.42 g/t grade of gold-equivalent, including 0.25 g/t grade of gold and 0.10 % grade of copper, as well as 140.4 meters at 0.45 g/t grade of gold-equivalent, including 0.25 g/t grade of gold and 0.12 % grade of copper at Porotillo.Its shares rose 4% in recent trading on Thursday.

ASX:STM
Asia

Sunstone Metals Says Ecuador Gold Project Scoping Study Finds Initial 23-Year Mine Life

Sunstone Metals (ASX:STM) said a scoping study for its Bramaderos gold copper project in Ecuador has outlined an initial 23-year mine life producing 135,000 gold equivalent ounces per year for the first eight years, according to a Tuesday Australian bourse filing.The company said the study returned a post-tax net present value of $900 million at a gold price of $3,500 per ounce, with an all-in sustaining cost (AISC) averaging $1,499 per ounce after credits.Sunstone Metals said the operation is a conventional single open pit feeding a 10-million-tonne-per-year plant at a life-of-mine strip ratio of 1.4, with capital payback estimated at 34 months at $3,500 per ounce gold and 19 months at spot price.The company said potential for significant growth in inventory could underpin a possible stage 2 expansion.

ASX:STM
Asia

Sunstone Metals Says Drilling at Ecuador Project Intersects Wide Gold-Copper Mineralization, Shares Jump Over 16%

Sunstone Metals (ASX:STM) said its new diamond drilling program at the Copete porphyry system within the Bramaderos project in Ecuador intersected wide intervals of gold-copper mineralization within the first two drill holes, according to a Tuesday Australian bourse filing.It hit intercepts of 200 meters at 0.45 grams-per-tonne grade of gold-equivalent, including 0.33 g/t grade of gold and 0.07 % copper, as well as 162.2 meters at 0.32 g/t grade of gold-equivalent, including 0.20 g/t grade of gold and 0.07 % copper.Its shares jumped 16% in recent trading on Tuesday.

ASX:STM