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Sunstone Metals Ltd.
Summary
| Project: | Viscaria | |
|---|---|---|
| Deposit: | Viscaria | |
| Location: | Sweden | |
| Commodities: | Copper-Gold | |
| Date: | 3/24/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-3-2020: Sunstone Metals Ltd. announces an Exploration/Drilling Update report for its Viscaria deposit at the Viscaria project. Drilling results incl. 88.1m @ 1.1% Cu from 620m. Sunstone Metals (ASX: STM) is pleased to announce outstanding drilling resu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dr Bruce Rohrlach (Internal) | |
| ABSTRACT: | Sunstone Metals (ASX: STM) is pleased to announce outstanding drilling results from the Viscaria Copper Project in northern Sweden. Viscaria is owned by NASDAQ Stockholm-listed Copperstone Resources AB, in which Sunstone has a ~27 per cent stake. Sunstone is actively involved in Copperstone through board representation and participation in the Copperstone Technical Committee. Copperstone has a market capitalisation of ~A$37.2 million. Sunstone’s interest in Copperstone is valued today at ~A$10 million, compared to Sunstone’s market capitalisation at close on March 23 2020 of A$4.2 million. Sunstone sold the Viscaria Copper Project to Copperstone in 2019 under a two-tranche cash and shares transaction that closed on 9 March 2019 (see ASX announcement dated 9 March 2019). Tranche 1 cash and shares have been received and the Tranche 2 payment is due upon approval of an Environmental Permit for the Viscaria development. Six diamond drill holes have been completed on the D Zone North shoot in the past six months and the results to date strongly reinforce the interpreted geometry of thicker and higher-grade steep shoots extending to depth. | |
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