(NewsDirect)
Sunstone Metals Ltd (ASX:STM) managing director Patrick Duffy joinsElisha Newell in the Proactive studio soon after completing a sitevisit at the company’s gold and copper prospects in Ecuador.Theprecious and base metal explorer is progressing towards a sizeablemaiden resource at its El Palmar T1 porphyry discovery, where recentassays from trenching revealed substantial surfacemineralisation.Notable results include 40.4 metres at 0.86 g/t goldand 524 ppm copper in trench P6-7d and 21 metres at 0.34 g/t gold and714 ppm copper in trench P6-7c, with both trenches open on allsides.Commenting on the gold and copper findings, Duffy highlightedthe extent and shallow nature of the El Palmar mineralisation —characteristics which are certain to guide the explorer’s futuredrilling programs.Beyond the next phase of work, Sunstone plans toincorporate the trenching assays into a maiden resource, assess thepotential for mineralisation beyond the original T1 target and testtargets T1, T2, and T5.The news comes soon after the company announcedit was raising up to $6.3 million from new and existing institutional,professional and sophisticated investors to support its Ecuadorianexploration programs.An oversubscribed placement in early May broughtin a $2 million war chest, while a non-renounceable rights issue couldraise up to $4.3 million before costs.Proceeds will help Sunstoneresume drilling operations at the Limon epithermal discovery andsustain exploration across the El Palmar and Verde Chicosites.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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