Sunshine Metals (ASX:SHN) has identified gold at surface ahead of an upcoming drilling program to begin at the Tigertown prospect, part of the broader Ravenswood Consolidated Project in Queensland.
In January 2025, the company completed mapping and sampling which confirmed Tigertown mineralisation continues to surface, with rock chip samples grading up to 3.24 grams per tonne gold and 91g/t gold collected from a 3m wide barite vein.
Sunshine Metals, which has a market capitalisation of $12.7 million, is waiting to begin a reverse circulation drilling program at Tigertown comprising seven holes for 620m.
The program will build on limited historic and wide spaced drilling.
Managing Director Damien Keys says Tigertown has been on the company’s radar since the Greater Liontown Project was acquired in September 2023, due to encouraging near-surface gold and silver intercepts.
“Our drilling will test immediately along strike from historic intercepts with an aim to define a shallow gold resource, close to our existing Liontown Resource,” Keys says.
“Significant step-off potential also remains, with silver intersections including 3m @ 796g/t silver located 680m along strike of Tigertown to the southeast.”
In conjunction with drilling, field reconnaissance mapping programs will be carried out at the Lynx, Cougartown, and Cougartown West prospects.
Meanwhile, Sunshine Metals has relocated its head office and warehouse facilities following its lease expiring. The new warehouse and yard lies in Charters Town, closer to the project area which saves costs and time.
The new head office is a compact workspace situated within walking distance of the Townsville CBD and the Department of Resources head office. Sunshine Metals expects the move to deliver 25% annual savings in rent as well as improve productivity at site.
Sunshine Metals is a gold and copper-focused explorer with a portfolio of assets in Queensland.
Write to Aaliyah Rogan at Mining.com.au
Images: Sunshine Metals
