Sunstone Metals Ltd (ASX: STM) has discovered a significant polymetallic silver- gold-zinc-lead epithermal system at the Espiritu target within its Bramaderos project in southern Ecuador.
Assay results from the first five diamond drill holes at Espiritu contain bonanza silver grades within multiple silver-gold-zinc-lead vein and breccia intervals. Highlight intervals include 1.1m at 1069g/t silver, 0.2g/t gold, 5.5% zinc and 1.3% lead in one of multiple lodes.
The drill holes have tested the area below high-grade silver-gold-lead-zinc results recorded in trench and rock chip samples.
Drilling to date has only tested to a depth of 145m below surface and across a strike length of 180m, suggesting that there is significant scope for a larger system based on surface anomalies defined to date.
Managing Director, Malcolm Norris said, the early drilling results suggest the main mineralised systems may plunge. The structural geology is not well understood and will evolve with further drilling. Additional geophysics will be undertaken over the target area to help guide future drilling.
These assay results are extremely encouraging. They demonstrate that potentially economic precious metal and base metal grades, including some bonanza silver grades occur within the Espiritu system across multiple lodes,” Mr Norris said.
“There is clearly immense potential at Espiritu, which has not seen any historical exploration, and in light of these results, we will accelerate our exploration program. This is the first discovery of a silver-gold-zinc-lead system in the Bramaderos district and as such justifies some optimism that this may develop into a large system with further exploration.
“Globally, silver-polymetallic systems similar to Espiritu can be very significant development opportunities. Many examples occur in Central and South America where mines typically produce concentrates of lead-zinc- silver and gold.
“Other priority targets have been identified within the Bramaderos concession and these are being advanced during the current program. New areas of outcropping carbonate and barite alteration, typical of epithermal systems, with evidence of copper-lead-zinc mineralisation have been identified and will be scheduled for further exploration and drilling.”
Drilling of the Brama porphyry gold-copper system is scheduled to commence prior to the end of 2020, and an update on activities at the El Palmar porphyry copper-gold project will also be provided prior to the end of 2020.