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Sunstone Metals Ltd.
Summary
| Project: | Viscaria | |
|---|---|---|
| Deposit: | Viscaria | |
| Location: | Sweden | |
| Commodities: | Copper | |
| Date: | 6/26/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-6-2020: Sunstone Metals Ltd. announces an Exploration/Drilling Update report for its Viscaria deposit at the Viscaria project. Drilling results incl. 7.1m @ 3.8% Cu form 615.2m. Sunstone’s interest in Copperstone is currently valued at ~A$16.8 million, | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report] Malcolm Norris (Internal) | |
| ABSTRACT: | Sunstone’s interest in Copperstone is currently valued at ~A$16.8 million, compared to Sunstone’s market capitalisation at close on June 25, 2020 of A$13.3million (at a share price of A$0.006). Sunstone’s unaudited cash position at 25 June 2020 was A$3.7 million. Sunstone has further exposure to success at Viscaria, with Copperstone to make a Stage 2 payment to Sunstone of 20 MSEK (~A$3.1 million) and issue Sunstone 46 million COPP B shares (valued at ~A$4.8 million) upon issuance of an Environmental Permit for the development of Viscaria. We are encouraged that Copperstone has recently appointed a highly credentialed Head of Environment and Sustainability and is focussed on advancing the work program towards delivery of an Environmental Permit. Eight diamond drill holes have now been completed on the Viscaria D Zone North shoot in the past eight months and the results to date strongly reinforce the interpreted geometry of thicker and higher-grade steep shoots extending to depth. It is expected that multiple shoots will be defined as drilling progresses. | |
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