The Ecuador Ministry of Environment has issued an environment licence to the Bramaderos gold and copper project, paving the way for diamond drilling to get under way in the next two to three weeks.
TSX-V-listed Cornerstone Capital Resources owns the Bramaderos project and ASX-listed Sunstone Metals has the right to earn 51% by spending $3.4-million over three years on a Phase 1 drill programme.
With the environmental impact assessment in hand, Cornerstone said that a drill rig would be mobilised to the site. The first assay results were expected in late May or in early June.
Drilling will start at the Limon target where surface trenching has delivered 97.6 m at 0.71 g/t gold and 0.23% copper over a poorly outcropping porphyry system. The initial drill programme is anticipated to be about 5 000 m and will also include holes at Bramaderos Main to follow up on historical drilling that intersected 248 m at 0.56 g/t gold and 0.14% copper and recent surface trenching that delivered 615 m at 0.52 g/t gold and 0.11% copper and at West zone where surface trenching has delivered 15.6 m at 6.1 g/t gold
Sunstone could eventually increase its shareholding in Bramaderos to 70% by funding a bankable feasibility study, and to 80% by financing 100% of the cost of construction of a mine and mill.Creamer Media Senior Researcher and Deputy Editor Online