Sunshine Metals (ASX:SHN) has a busy period ahead including completing the Triumph divestment and updating the Liontown resource in December 2024, while expecting geophysical survey results from Coronation and Coronation South in January 2025.
The company expects to receive further supporting data to assist with drill targeting at the Coronation and Coronation South prospects in Queensland, via conducting geophysical surveys.
The surveys, alongside mapping, sampling, and induced polarisation (IP) geophysics, will be integrated with new soil geochemical data to refine drill ready gold-copper targets. which will be tested next year.
Sunshine Metals, which has a market capitalisation of $15.87 million, is planning to drill test the targets next year.
A soil sampling program is currently being conducted at Coronation South, and once completed, further mapping will be carried out across both prospects.
Managing Director Damien Keys says both prospects share many similarities with the Highway-Reward Mine, which contains 3.9 million tonnes at 5.3% copper and 1.1 grams per tonne gold.
“Coronation South has a more than 200m long exposed gossan and limited modern exploration,” Keys says.
“The IP should assist with refining this exciting target for follow-up drill testing in 2025.”
The Coronation target is located 2.7km north of the analogous Highway-Reward Mine, which was first discovered in 1987 and 1989.
Coronation South is located 2km northwest of Highway-Reward and 1km south-southwest of Coronation.
Meanwhile, Sunshine is on track to announce a resource update/upgrade in early December 2024 at Liontown, part of the Ravenswood Consolidated Project, after receiving more positive assays.
The Gap Zone, part of the Ravenswood Consolidated Project in Queensland, represents an area between the Liontown and Liontown East resources, which contains 2.94 million tonnes at 10.55% zinc-equivalent and 1.47Mt at 10.96% zinc-equivalent, respectively, as reported by Mining.com.au.
Sunshine Metals is a gold and copper explorer with assets in Queensland. The company is focused on developing its flagship Ravenswood Consolidated Project which lies within a district that has produced more than 20 million ounces of gold and 14 million tonnes of volcanic massive sulphides ore.
Write to Aaliyah Rogan at Mining.com.au
Images: Sunshine Metals
