Sunshine Gold (ASX:SHN) reports that it has confirmed a large Cu-Au-Ag-Mo system at the Titov prospect within its Ravenswood West project in Queensland.
Latest assays from six holes of an eight-hole RC drilling program have returned highlight intercepts including:
- Hole 21TVRC006: 10m @ 1.32 % Cu, 2.11g/t Ag, from 115m; including
- 2m @ 5.93% Cu, 0.13g/t Au, 6.87g/t Ag, from 123m
- Hole 21TVRC007: 158m @ 0.37% Cu, 0.07% Mo, 2.25g/t Ag, from surface; including
- 18m @ 0.50% Cu, 0.12% Mo, 2.89g/t Ag, from 38m; and
- 17m @ 0.65% Cu, 0.15% Mo, 4.00g/t Ag, from 128m
- Hole 21TVRC008: 112m @ 0.44% Cu, 0.08% Mo, 2.48g/t Ag, from surface; including
- 15m @ 0.62% Cu, 0.02% Mo, 2.38g/t Ag, from surface
- 17m @ 0.58% Cu, 0.21% Mo, 3.34g/t Ag, from 50m
- Hole 21TVRC004: 66m @ 0.38% Cu, 0.42% Mo, 2.22g/t Ag, from 26m; including
- 6m @ 0.42% Cu, 3.02% Mo, 3.94 g/t Ag from 70m
Following these results, the company has announced that it has begun drilling the first diamond hole at Titov in over 50 years. The 500m hole, which has already reached 270m, will aim to intersect a target at ~350m.
“We are especially enthused by the zones of high-grade copper (to 5.93%) and molybdenum (to 3.02%) within the broader mineralised envelope”
Commenting on the news, Sunshine Gold Managing Director Damien Keys said: “The RC drilling has provided valuable geological and geochemical information at Titov. We are especially enthused by the zones of high-grade copper (to 5.93%) and molybdenum (to 3.02%) within the broader mineralised envelope. In particular, copper appears to be increasing in grade to the east of the drilled area and at depth (21TVRC006).
The diamond hole is testing changes in metal zonation, extensions to high-grade zones and an IP chargeability conductor at depth. The core is already looking encouraging with zones of pervasive potassic alteration with disseminated chalcopyrite and quartz veins containing both chalcopyrite and molybdenite. We are still 80m from the anticipated target zone and looking forward to seeing the next 230m of core.”
The RC program, completed in September, gathered a range of data including geological and geochemical information over 200m of strike.
The highest-grade copper intersection of 10m @ 1.32% Cu, 0.02% Mo and 2.11g/t Ag was encountered in the deepest hole of the program, and mineralisation is set to be tested 230m down-dip by the above-mentioned diamond hole.
The Titov prospect is described by Sunshine Gold as a “swarm” of molybdenum-bearing quartz veins hosted within a malachite stained granodiorite. It contains several shallow workings across a 300m x 120m surface anomaly, and is reported to be devoid of trees due to the elevated copper levels in the soil.
Images: Sunshine Gold Limited
