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The latest update is out from Sunstone Metals Limited ( (AU:STM) ).
Sunstone Metals has reported a 462m trench intersection grading 0.55 g/t gold-equivalent at the Porotillo discovery within its Bramaderos gold-copper project in southern Ecuador, significantly expanding the known footprint of surface mineralisation. The trench, which includes long higher-grade intervals and remains open in all directions, reinforces the potential to materially grow the current 3.6Moz gold-equivalent resource and supports the company’s exploration target of 1.7 to 3.5Moz gold-equivalent at the Copete-Porotillo complex.
Drilling at Copete has already completed the first two holes, and a second rig is being mobilised to start drilling at Porotillo as Sunstone seeks to convert a substantial portion of the exploration target into a formal resource. Management expects the ongoing drilling campaign and an advancing scoping study to underpin strong news flow and highlight the potential economic strength of the expanding cluster of gold-copper porphyry systems at Bramaderos, with implications for the project’s scale and future development options.
The most recent analyst rating on (AU:STM) stock is a Sell with a A$0.38 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 exploration company focused on gold-copper porphyry systems, with its flagship Bramaderos project located in southern Ecuador. The company targets large, outcropping porphyry deposits such as Brama-Alba, Melonal, Copete and Porotillo, aiming to expand its existing multi-million-ounce gold-equivalent resource in a highly prospective Andean mineral belt.
YTD Price Performance: -31.55%
Average Trading Volume: 482,932
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$92.92M
For an in-depth examination of STM stock, go to TipRanks’ Overview page.