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| Sunshine Metals |
Gold Confirmed at Surface Before Key Drilling Program
Sunshine Metals (ASX:SHN) has identified gold at surface at its Tigertown prospect in Queensland ahead of a reverse circulation (RC) drilling program set to begin soon. This prospect is part of the Ravenswood Consolidated Project and follows recent mapping and sampling that confirmed mineralization at surface, including rock chip samples grading up to 3.24 g/t gold and 91 g/t silver from a 3m-wide barite vein.
Drilling and Exploration Plans
The upcoming drilling program will include seven holes totaling 620m, targeting shallow gold resources and building on limited historic and wide-spaced drilling. Managing Director Damien Keys emphasized that the company aims to test near-surface gold and silver intercepts identified since the Greater Liontown Project acquisition in September 2023.
Key drilling targets:
Along strike of historic intercepts to define a shallow gold resource near the Liontown Resource
Potential silver mineralization step-offs, including 3m @ 796 g/t silver, located 680m southeast of Tigertown
Additionally, field reconnaissance mapping will be conducted at Lynx, Cougartown, and Cougartown West prospects.
Operational Relocation for Cost Savings
Sunshine Metals has relocated its head office and warehouse facilities to improve efficiency and cost-effectiveness. The new warehouse and yard in Charters Towers are closer to the project area, reducing logistics costs and time. The new head office is now in Townsville, near the Department of Resources, with an expected 25% annual rent savings and increased on-site productivity.
