ASX-listed Queensland based Sunshine Gold (ASX:SHN) reports it has started an aircore (AC) drilling program at its 100% owned Ravenswood West Project in North Queensland with a goal to assess rare earth element (REE) potential.
The 67 AC drillhole program will also test characteristics of the host intrusion identified from stream sediment and soil sampling, which returned REE enrichment up to 2.28% total rare earth oxides (TREO).
Drilling will focus along a fenceline track that extends for 4.5km, with drillholes being spaced 100m apart along the traverse and tightened to 50m spacing zones of soil sample delineated higher rare earth content.
The previous follow-up soil sampling campaigns also identified zones of coherent enrichment up to 1,000ppm TREO, with 20% of the rare earths identified comprising ‘high value’ minerals neodymium (Nd2O3) and praseodymium (Pr6O11).
It is also reported that this AC drilling program represents the first drill test for rare earths at the project’s hosted Elphinstone Creek prospect and will take about 1 week to complete.
Commenting on the drilling campaign, Sunshine Gold Managing Director, Dr Damien Keys said: “Elphinstone Creek is like no other prospect in North-East Queensland. The results to date from stream sediment and soil sampling are extremely encouraging.
“The aircore drilling traverse is expected to provide information on depth of the regolith and the nature of the basement intrusion…The results of the program will shape the style of future drilling campaigns”
The aircore drilling traverse is expected to provide information on depth of the regolith and the nature of the basement intrusion. The results of the program will shape the style of future drilling campaigns. Drilling will take about one week to complete and results are anticipated to be returned in December 2022.”
Sunshine Gold is this week attending the International Mining and Resources Conference (IMARC) in Sydney. The company also notes that the area in which the Elphinstone Creek prospect is hosted in (Barrabas Adamellite) is enriched in REE mineralisation, with 90% of the soil samples taken from this area grading about 400ppm TREO.
Despite the high overall TREO content of the soil samples over the Barrabas Adamellite, the presence of discrete zones of highly anomalous REE mineralisation upwards of 750ppm TREO are also observed.
In addition, the associated gold (Au) anomalism identified within Elphinstone Creek is believed to be related to drainage from the nearby Ravenswood Gold Mine, however further reconnaissance is required as soils up to 395ppb Au appear unrelated to drainage.
Sunshine Gold is a gold and copper explorer focused on discovery and development of its 4 wholly owned, high quality projects stationed in Queensland. The company’s Ravenswood West project is located about 100km south of the city of Townsville within the prolific Ravenswood – Charters Towers district and is considered ‘highly prospective’ for Au-Cu being only 5km from the Ravenswood Mining Centre, which has produced 4Moz Au with a further 4.3Moz Au in resource and 1.8Moz in ore reserves.
With the AC drilling program still ongoing, Sunshine Gold announces results are expected to be received in December of this year ahead of scheduled extensional drilling at its Triumph Gold Project.
Images: Sunshine Gold Ltd
