Sunshine Metals (ASX:SHN) has increased its drilling campaign with an additional 37 holes for an area of 1,890m after returning assays from 30 reverse circulation drillholes at the Liontown prospect within the Ravenswood Consolidated project in North Queensland.
To date, the company has completed drilling at 68 holes from a total campaign of 84 holes across an area of 3,333m.
Intercepts from Liontown include 4m @ 17.65 grams per tonne gold and 402g/t silver from 25m, including 1m @ 23.2g/t gold from 27m of stope fill; 8m @ 6.16g/t gold and 37g/t silver from 3m; 4m @ 9.49g/t gold and 128g/t silver from 20m; as well as 5m @ 6.92g/t gold and 77g/t silver from 16m.
Sunshine is currently conducting a mining study at Liontown, considering 803,000 ounces silver @ 31.6g/t. The area actively holds a resource of 5.5 million ounces of silver @ 27.1g/t silver.
The company says this drilling campaign has returned the “highest silver grades recorded to date at Liontown”, with intercepts including 5m @ 0.86g/t gold and 1,870g/t silver from 33m, as well as 8m @ 7.31g/t gold and 1,321g/t silver from 10m, including 3m @ 6.78g/t gold and 2,410g/t silver from 13m.
Drilling began in November 2025, with remaining results expected to be received and reported in the coming weeks through January and February 2026.
Managing Director Damien Keys says Liontown has been consistent in demonstrating the “strength of its underlying mineral endowment, with recent drilling confirming that silver is emerging as a meaningful value driver alongside gold”.
“The scale, grade, and shallow nature of the gold-silver mineralisation provide Sunshine with a compelling development opportunity at a time when silver markets are increasingly focused on security of supply,” Keys says.
“Our gold mining study is progressing well and remains on schedule for delivery in January 2026.
“With the gold-to-silver ratio fluctuating between 60-80:1, we are also refining the study to incorporate the high-grade silver zones.”
Sunshine Metals is focused on the discovery and development of gold projects in Queensland, Australia.
Write to Maddison Elliott at Mining.com.au
Images: Sunshine Metals
