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Sunstone Metals Limited ( (AU:STM) ) just unveiled an update.
Sunstone Metals has reported strong assay results from the third and fourth holes of its current drilling campaign at the Copete-Porotillo porphyry complex within the Bramaderos Gold-Copper Project in southern Ecuador. The holes returned broad mineralised intersections of 200m and 148.2m at 0.40 g/t gold-equivalent, extending known mineralisation laterally to the northeast and southwest and indicating that the system remains open at depth.
The 26-hole, 5,000m drill program is designed to convert a significant portion of the Copete-Porotillo exploration target, estimated at 135–180Mt for 1.7–3.5Moz gold-equivalent, into additional mineral resources beyond the existing 3.6Moz Bramaderos resource. Management says the ongoing expansion of resources at Copete-Porotillo could materially enhance mine life, production rates and cashflow, reinforcing Bramaderos’ positioning as one of the few gold-copper projects with genuine world-class scale and potentially improving the project’s attractiveness to investors and strategic partners.
The most recent analyst rating on (AU:STM) stock is a Buy with a A$0.95 price target. To see the full list of analyst forecasts on Sunstone Metals Limited stock, see the AU:STM Stock Forecast page.
More about Sunstone Metals Limited
Sunstone Metals Limited is an Australian-listed mineral exploration company focused on gold-copper projects, with its flagship Bramaderos Gold-Copper Project located in southern Ecuador. The company is advancing a cluster of porphyry systems at Bramaderos, targeting large-scale, long-life resources in a market that increasingly values world-class precious and base metal deposits.
YTD Price Performance: -36.56%
Average Trading Volume: 472,150
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$86.21M
Learn more about STM stock on TipRanks’ Stock Analysis page.