Sunshine Gold (ASX:SHN) has uncovered a new mineralisation zone at the Cardigan Dam prospect, located within the company’s Ravenswood West Project located in Queensland.
The Cardigan Dam comprises a 300m long, sub-cropping zone of brecciated and sheared granodiorites and is reported as a ‘strong’ rock chip gold-cobalt anomalism.
Sunshine Gold reports the new zone of mineralisation was discovered about 500m south of the gossanous ridge, with a rock chip returning results from CD23_004 with 9.58g/t gold (Au) and 9.9g/t silver (Ag).
Additionally, a rock chip returned elevated cobalt (Co) and copper (Cu) over a ‘strong’ magnetic anomaly, 250m northeast of the gossanous ridge. This result includes CD23_035 with 0.62% Co, 0.48% Cu, 0.92% barium (Ba), and 185 parts per million (ppm) nickel (Ni).
Commenting on the new discovery, Sunshine Gold Managing Director, Damien Keys says: “We have taken the time to define, solid, drill-ready targets ahead of a busy mid year campaign. Cardigan Dam mapping has identified a new gold target zone south of the Main Gossan and a zone of copper-cobalt enrichment in a previously unsampled zone to the north.
The detailed mapping and comprehensive multi-element sampling is identifying exciting critical mineral associations with the known gold targets. This early-stage fieldwork has provided an excellent platform for follow-up drilling programs in 2023.”
In addition to this, Sunshine Gold reports a sampling of a shear zone immediately adjacent to the Wilbur Hill prospect, breccia gold target has returned ‘high-grade’ Au and Ag results, including ‘highly’ anomalous critical minerals bismuth (Bi) and indium (In).
The ‘high-grade’ results include WH23_004 with 7.30g/t Au, 691g/t Ag, 1.42% Pb, 0.21% Bi, 10.1ppm In; and WH23_005 with 1.28g/t Au, 35g/t Ag, 0.48% Pb. In addition, these results will support a drill target generated in January 2023.
Sunshine Gold reports reverse circulation (RC) drilling is ongoing at its Triumph Gold Project and is expected to be completed in mid-April 2023. In addition, drilling will be planned to begin at Ravenswood West in May 2023, which will test a suite of gold targets including the Wilbur Hill and Cardigan Dam prospects.
Sunshine Gold is an exploration company focused on the discovery and development of its ‘high-quality’ gold and copper projects in Queensland. The company is developing 4 projects, highly prospective for gold, copper, molybdenum, and rare earth elements. Its portfolio includes the Triumph, Ravenswood West, Investigator, and Hodgkinson projects.
Images: Sunshine Gold Ltd
