Introduction to Sunstone Metals' latest announcement

Sunstone Metals (ASX:STM) has announced a maiden Mineral Resource Estimate for its El Palmar Gold-Copper Project located in Northern Ecuador. The initial estimate reveals 1.2 million ounces of gold equivalent based on the T1 deposit, presenting significant potential for a large-scale open pit mining operation. The project holds an exploration target between 15Moz and 45Moz gold equivalent.

Summary of Sunstone Metals' El Palmar announcement

Sunstone Metals has announced an initial Mineral Resource Estimate for the El Palmar project, indicating a resource of 1.2 million ounces of gold equivalent from the T1 deposit. This project, located in a mineral-rich belt in Northern Ecuador, presents substantial exploration potential, with targets ranging from 15Moz to 45Moz gold equivalent. The company is engaged in talks with potential strategic partners to explore development opportunities, aiming to enhance both the resource and exploration target through further drilling. Early metallurgical studies show promising recovery rates, and further testing will seek to improve these figures. Sunstone Metals is positioning El Palmar as a potential Tier 1 asset, leveraging its strategic location near other major deposits.

Executive commentary on El Palmar project

The maiden Mineral Resource Estimate for El Palmar is a significant milestone for Sunstone Metals. We believe this project has the potential to become a Tier 1 asset in a world-class mineral belt. The exploration target and ongoing discussions with strategic partners highlight the opportunity for future growth and development. Our early-stage metallurgical test work is encouraging, and we are optimistic about optimizing recovery rates further.