Sunstone Metals (ASX:STM) found a "significant" gold-copper porphyry at its Bramaderos project in Ecuador, according to a Tuesday filing with the Australian bourse.
Trench sampling from the discovery, named Copete, confirmed surface porphyry gold-copper mineralization, yielding 113 meters at 0.64 grams per tonne of gold-equivalent, within 214 meters at 0.5 grams per tonne of gold-equivalent, the filing said.
The discovery expands the Bramaderos mineralized cluster, indicating potential for extensive open pit operations, according to the filing.
Sunstone's shares rallied 14% in afternoon trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.