ASX-listed company Sunshine Gold (ASX:SHN) reports the presence of a broad sulphide zone over an area of 250m following completion of a second diamond drillhole at the Wilbur’s Hill prospect, as part of its 100% owned Ravenswood West Project in Queensland.
The broad sulphide zone is reported to be hosted in strongly altered and locally brecciated host rocks and was intersected by the second drillhole (22WHDD002) of an ongoing diamond drilling (DD) program, with assays expected later this month.
This second drillhole was collared 100m to the south of initial diamond drillhole 22WHDD001 and targeted coincident strong IP chargeability, low IP resistivity and low magnetotelluric resistivity responses from a recent Titan IP-MT survey.
The current drilling campaign commenced with a goal of testing a breccia pipe gold (Au) target analogous to nearby major Au mines at Mt Leyshon and Mt Wright.
Addressing the results, Sunshine Gold Managing Director, Dr Damien Keys says: “The two diamond holes both contain abundant sulphide within a chlorite-biotite-magnetite altered domain that is around 250m thick.
“The two diamond holes both contain abundant sulphide within a chlorite-biotite-magnetite altered domain that is around 250m thick”
The zone also contains rhyolite, both brecciated and flow banded, showing similarities to Mt Wright and Mt Leyshon. The sulphide-rich zone overlaps with the IP geophysical anomalism. We will complete our structural/geological logging and also await assays to optimise the third planned diamond hole.
We have also been busy identifying ten other targets that look similar to Wilbur’s Hill.”
Sunshine Gold also notes that the most pronounced “pipe-like” geophysical response coincides with a zone of rhyolite intrusions that are locally veined and brecciated.
In addition, it is reported that the company has decided to await the return of assays before moving forward with drilling of the third drillhole.
The decision was made following the success of the first 2 holes in explaining the geophysical survey information and also allows the company to complete detailed structural logging to better inform drillhole targeting.
All of the information generated from the detailed logging, in conjunction with assay data from the first 2 holes, are expected to lay the foundations of the third drillhole.
Sunshine Gold is an ASX-listed company focused on discovery and development at its high-quality gold and copper projects in Queensland, comprising a 100% interest in the Triumph, Hodgkinson, Investigator and Ravenswood West projects. The company’s Ravenswood West project is located about 100km south of the township of Townsville within the prolific Ravenswood – Charters Towers district, which has produced about 20 million ounces of minerals.
The project is considered prospective for intrusion-related mineral systems hosting gold-copper-molybdenite and rare earth metals.
With drilling still ongoing, Sunshine Gold announces it will move forward with field validation and baseline geochemical surveys on the further high ranking targets at Ravenswood West in early 2023.
Images: Sunshine Gold Ltd
