Sunshine Metals (ASX:SHN) has returned a gold-to-silver ratio of 50:1, with “exceptional gold equivalent grades” at the Liontown prospect within the Ravenswood Consolidated Project in North Queensland, says Managing Director Damien Keys.
“You do not see results like this every day and our grade control drilling is often outperforming the underlying resource model in terms of thickness and grade,” Keys says.
Highlights from a recent shallow reverse circulation drilling campaign at Liontown include 30m @ 6.68 grams per tonne gold and 396g/t silver from 17m, including 3m @ 52.12g/t gold and 2,932g/t silver, 24m @ 7.08g/t gold and 305g/t silver from 14m, including 3m @ 44.18g/t gold and 1,946g/t silver, and 20m @ 5.62g/t gold and 310g/t silver from 8m, including 5m @ 14.79g/t gold and 1,164g/t silver.
Sunshine has completed drilling at 82 holes across 3,216m of the greater 121 hole campaign for 5,223m. The company has received assays from 68 holes to date, with the remaining results expected to be returned next month.
As reported by Mining.com.au, Sunshine elected to extend drilling at the Liontown prospect to include an additional 37 drillholes across 1,890m, after returning the “highest silver grades” record to date at the prospect.
The company is conducting a mining study at the prospect that considers a resource estimate of 108,000 ounces gold @ 4.37g/t gold and 803,000 ounces silver @ 31.6g/t silver.
Sunshine intends to deliver the Liontown Mining Study in February 2026, which will be updated and upgraded, along with the current resource, following the results for this grade control drilling campaign. This is expected to be updated in March 2026.
“These results occur near the intersection of two projected mineralised horizons,” Keys adds.
“Whilst the two mineralised positions were mined historically, the intersection of structures is unmined and will be a zone of significant resource upside in future models.
“Being shallow and high grade, these results will also have a strong impact on the initial mining study when it is also subsequently updated.”
The Liontown Mining Study is solely focused on considering gold and gold-dominant mineralisation at the area, which represents around 13% of the total Liontown resource tonnage.
Sunshine Metals is a gold and copper explorer focused on developing its assets in Queensland, Australia, including the Ravenswood Consolidated Project.
The Ravenswood Consolidated Project lies in a district that has historically produced more than 20 million ounces of gold and 14 million tonnes of volcanic massive sulphides ore.
Write to Maddison Elliott at Mining.com.au
Images: Sunshine Metals
