Sunshine Metals (ASX:SHN) has been awarded $393,795 from two Collaborative Exploration Incentive grants from the Queensland Government for its work within the Ravenswood Consolidated Project.
The first grant recognises the company’s drilling and surveying at the Liontown North prospect, offering $162,157 for testing of induced polarisation and an electromagnetic anomaly through a 650m drillhole north of the Liontown Dome.
Sunshine will also complete an airborne electromagnetic survey at the Highway-Reward deposit within the Coronation region, to detect a copper and gold system, following a grant worth $231,638.
Drilling and surveys are scheduled to begin between June-July 2025.
Managing Director Damien Keys says the company appreciates the government’s support of the industry.
“The competitive grants recognise both the importance of Liontown in Queensland’s strategic and critical mineral inventory and the quality of work completed by our team,” Keys says.
The company has completed its drilling program across 29 drillholes spanning 1,834m at Liontown, expecting results this month.
The current inferred oxide resource estimate stands at 360,000 tonnes @ 1.8g/t gold and 26g/t silver for 21,000 ounces gold and 307,000 ounces silver.
Areas near the historical drillings of this resource return intersections including 3m @ 46.2 grams per tonne gold from 20m and 2m @ 17g/t gold from 16m.
In conjunction with the company’s grant funded projects, Sunshine will also begin a reverse circulation drilling program at Salla and Plateau targets next month.
Sunshine Metals is an exploration company focused on the development of its portfolio of projects in Queensland, which lies within a district that has returned over 20 million ounces of gold and 14 million tonnes of zinc-copper-lead ore.
Write to Maddison Elliott at Mining.com.au
