Sunstone Metals Ltd
Sunstone Metals (ASX:STM) is an ASX listed mineral exploration company with high quality gold and copper assets in Ecuador, Finland and Sweden. Sunstone’s assets are the:
- Bramaderos Gold-Copper Project
- Viscaria Copper Project
- Southern Finland Gold Project
The Bramaderos Gold-Copper project is located in southern Ecuador and is a joint venture between Sunstone and TSX:V listed Cornerstone Capital Resources. Sunstone can earn up to an 80% position in the project by funding activities through to a decision to mine. The project is considered to be highly prospective for the discovery of porphyry and epithermal gold-copper deposits. The team at Sunstone has been involved in significant discoveries of porphyry and epithermal copper-gold mineralisation at Tujuh Bukit in Indonesia and Cascabel in Ecuador, and is preparing to repeat that success at Bramaderos.
The Viscaria Copper Project is located 1,200km north of Stockholm next to the mining town of Kiruna. The Viscaria copper deposit was mined from 1985 – 1997, and Sunstone has subsequently delineated additional orebodies with significant mineral resources. The current mineral resource estimate is 52 million tonnes at 1.2% Cu, containing 608,900 tonnes of copper (see 2017 Annual Report). A Scoping Study has been completed and supports progressing to a Pre-Feasibility Study to assess a 2Mtpa operation producing in the order of 20,000-23,000t of copper in concentrate (see ASX announcement 5th April 2016). The Viscaria Project includes a large ‘near mine’ exploration portfolio with strong potential for discovery of additional copper deposits. Exploration drilling in 2017 has reinforced this potential and identified multiple new targets.
The Southern Finland Gold Project is located 100km north-west of Helsinki in southern Finland where the Company has commenced exploration at the Satulinmäki prospect, and identified significant gold mineralisation. Intersections of 23.5m at 3.3g/t gold (including 9.2m at 7.3g/t gold) were intersected in shallow drilling completed in 2016, and recent geophysical studies suggest a large gold system with limited drilling.
All projects are supported by established infrastructure, in close proximity to power, road and/or rail infrastructure and ports.
Sunstone Metals is in the business of maximising shareholder return through the discovery and development of safe, efficient and environmentally responsible mining projects in secure tenure jurisdictions that offer a clear, short-term path forward to development. Sunstone Metals will outperform our peers through ready access to existing infrastructure, low utility costs and recognised commodity exposure.