Ecuadorian gold and copper resource touted as major find

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Share price of exploration company Sunstone Metals rockets after stock exchange disclosure of discovery

Mining industry veteran Malcolm Norris says he has struck upon a gold-copper resource in northern Ecuador that may make the world’s resources giants sit up and take notice.

“The opportunity to deliver a large discovery is there — it just requires more drilling from us,” Norris said from the company’s base in Brisbane. “I would expect that if we make the discovery that we think we’ve got, it will be of interest to quite a few of the majors.” Sunstone’s find is located close to the Cascabel copper-gold prospect being developed by SolGold, which includes BHP and gold major Newcrest Mining among its major stakeholders. Norris was MD of SolGold when it made the Cascabel discovery and his confidence in El Palmar stems from it being part of the same geological belt.

Still, Norris sought to dispel any perception of Ecuador as politically unstable, saying such a view was outdated. President Guillermo Lasso, who came to power in May, is a former banker who supports mining.

Source: News Formal (newsformal.com)

 

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