Sunshine Metals (ASX:SHN) intends to upgrade the current inferred resource to the indicated category of the Liontown prospect, part of the Ravenswood Consolidated Project in Queensland.
This will be achieved through a shallow reverse circulation drilling program, which will be carried out this month. The program will also target samples for metallurgical testwork.
Liontown currently has a resource of 21,000 ounces of gold @ 1.8 grams per tonne gold and 26g/t silver for 307,000 ounces of silver.
This news comes after Sunshine intercepted broad zones of gold-silver mineralisation at the Tigertown prospect, which is also part of the Ravenswood Consolidated Project.
A first-pass reverse circulation drilling program, comprising seven holes for 641m, was completed.
Assays include 30m @ 0.58g/t gold and 57g/t silver from 34m, including 4m @ 2.01g/t gold, 201g/t silver, 4.14% zinc and 1.93% lead from 38m.
Managing Director Damien Keys says the intersections show the potential for a larger oxide system at Tigertown.
“Our best result is our shallowest significant intersection,” Keys says.
“The drilling has now refined our geological model and will allow us to target the near surface gold-silver more effectively.
“Tigertown is just one of the shallow targets that we will be testing in early 2025. Drilling will test other targets, Liontown, Liontown West, Coronation, and Plateau as we rapidly pursue our shallow oxide strategy.”
Sunshine is focused on identifying shallow oxide gold resources for processing at potential nearby toll treating mills. The company aims to rapidly evaluate the commercial potential of Ravenswood’s prospects.
Liontown is the most advanced of the shallow gold targets, while Plateau represents an advanced target with an inferred resource totalling 49,000 ounces of gold at 2g/t gold.
To advance Plateau’s resource classification, the company says 1,000m of drilling and metallurgical testing is required. This work is expected to begin in May 2025.
Sunshine Metals’ Ravenswood Consolidated Project lies within the Charters Towers-Ravenswood district which has produced over 20 million ounces of gold and 14 million tonnes of volcanic-massive sulphide zinc-copper-lead-gold ore.
Write to Aaliyah Rogan at Mining.com.au
Images: Sunshine Metals
