Sunshine Metals (ASX:SHN) has a busy period ahead to year-end including this month starting drilling at Greater Liontown within the Ravenswood Consolidated Project area, with work to start at the Lighthouse farm-in in October 2023.
In March this year, Sunshine completed the farm-in and joint venture agreements for the Lighthouse tenements, which were part of the consolidated Ravenswood West Project.
Ahead of starting works at Lighthouse, the $19 million market capitalisation company is preparing for upcoming RC drilling at the Coronation copper-gold target at the 100% owned Ravenswood Consolidated Project in North Queensland.
Addressing the works, Sunshine Managing Director Dr Damien Keys says: “Completion of the Greater Liontown acquisition has now paved the way for a 9-hole drill program to commence at Coronation.
The program is particularly exciting as it will be the first test of 6 strong gravity anomalies, possibly caused by massive sulphide pipes. The presence of gold in quartz-barite veins has been confirmed by recent first pass mapping, further likening Coronation to the 3.9Mt @ 5.4% Cu and 1.1g/t Au Highway-Reward Cu-Au Mine (2.7km south).
“Completion of the Greater Liontown acquisition has now paved the way for a 9-hole drill program to commence at Coronation“
Furthermore, first field reconnaissance at several targets within the VMS prospective Mt Windsor Volcanics has been completed. Anomalous rock chip results and mapping will be used to refine future drill targets, with a best result grading 13.9% Cu and 173g/t Ag at Bowerbird.”
Sunshine says Coronation is an ‘outstanding’ target located 2.7km north of Highway-Reward Cu-Au Mine (3.9Mt @ 5.4% Cu and 1.1 g/t Au mined) and 32km, by sealed road, south of the mining centre of Charters Towers.
The RC program will test 6 strong gravity anomalies with 9 holes averaging 200m depth. The gravity anomalies are potentially related to sulphide-rich pipes and analogous to Highway-Reward.
Reconnaissance activities have commenced within the VMS prospective Mt Windsor Volcanics. The Bowerbird target is located 5km west of the Magpie Cu-Pb-Zn-Ag deposit.
Sunshine notes Bowerbird is an under-drilled, stratiform VMS-style target which exhibits coherent Pb anomalism in soil (Esso, 1982) and gossanous beds on surface. Check soil samples have validated the location and tenor of the Esso Pb soil anomaly and rock chips have identified up to 13.9% Cu and 173 g/t Ag (BB23_004) 500m east of the main Pb soil anomaly. Further field work will be planned for Bowerbird in 2024.
Further VMS targets have been mapped and sampled at Teepee, Rollston River, Scrubby Dam and Wedgetail with assays pending.
Write to Adam Orlando at Mining.com.au
Images: Sunshine Metals