Sunshine Metals (ASX:SHN) is targeting extraction of up to 95,000 ounces of gold and 652,000 ounces of silver at the Ravenswood Consolidated Project in North Queensland.
The Liontown Gold Study will cover four resources for a combined 712,000 tonnes @ 4.15 grams per tonne gold and 28.5 grams per tonne silver, expected to be completed in January 2026.
In anticipation of metallurgical test work next month, Sunshine expects to upgrade the inferred resource of 16,400 ounces gold @ 2.04g/t gold and 29.2g/t silver at the Shallow Gold prospect to an indicated resource.
The prospect recently underwent a 29 hold reverse circulation drilling program spanning 1,834m, which allowed the company to tighten drill spacing to 25m by 25m.
Historical work has been incorporated into updated void and geology models, with previous intersections indicating voids to host between 1m to 2m in true width thickness.
Other prospects include Carrington Fresh, which has an indicated resource of 22,100 ounces gold and 335,000 ounces silver containing 223,000 tonnes @ 3.09g/t gold and 46.8g/t silver, and the Gold Panel.
The Gold Panel prospect hosts a resource of 56,500 ounces of gold and 82,000 ounces of silver, containing an indicated 144,000 tonnes @ 8.14g/t gold and 9g/t silver with 38,000 ounces gold and 42,000 ounces silver.
The inferred resource comprises 96,000 tonnes @ 6.07g/t gold and 13.6g/t silver with 19,000 ounces of gold and 42,000 ounces of silver.
Managing Director Damien Keys says the aim of the Scoping Study is to incorporate more “high-grade” gold sources from Liontown.
“The extra mineralisation comes from both the Carrington Fresh and the gold-panel that generated some stellar gold intersections,” Keys says.
“Importantly both fresh sources are close to the shallow mineralisation which formed the basis for the gold commercialisation strategy.”
The study will cover around 12% of the total resource tonnes and about 35% of the contained gold.
Sunshine Metals will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Sunshine Metals
