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- One year on from re-listing, Sunshine Gold (SHN) says it has completed 17,000 metres of reverse circulation drilling at its projects across Queensland
- The materials stock released a one-year update on Friday, noting it had completed drilling campaigns at the Triumph gold prospect and its Ravenswood West asset
- A further drill campaign has been launched at Ravenswood, while follow-up resource drilling got underway at Triumph last month
- Sunshine MD Damien Keys thanked shareholders for their support, stating a JORC compliant mineral resource for Triumph should be tabled by March
- SHN shares are down 2.22 per cent at 4.4 cents per share
One year on from re-listing, Sunshine Gold (SHN) has completed 17,000 metres of reverse circulation (RC) drilling at its projects across Queensland.
The materials stock commenced trading on the ASX again on December 11, 2020, completing a 5500 line kilometre airborne magnetic survey at the Hodgkinson Gold Project during the first month.
SHN then moved to its Triumph gold prospect, carrying out 7126 metres of RC drilling by March, returning best results of 27.12 grams of gold per tonne (g/t).
Shortly after finishing drilling at Triumph, Sunshine Gold bought its Ravenswood West gold-copper-silver-molybdenum and rear earth element (REE) project.
After completing soil and mapping test work at Ravenswood West, the company completed 6938 metres of RC drilling at the site in October – returning a best results of 6.2g/t gold.
Since then, SHN has begun diamond drilling at the site, with drilling to continue throughout the rest of the month.
Managing Director Damien Keys said drilling was also underway back at Triumph, as the company aims to establish a JORC compliant Mineral Resource by March 2022.
“It has been an amazing 12 months for Sunshine Gold. At the time of re-listing, the drill rig was already turning at Triumph and a plane was collecting magnetic data in Hodgkinson,” he said.
“We have not taken the foot off the pedal since, with a major project transaction,
over 17,000 metres of RC drilled, 3000 soil samples collected and field mapping/validation of a range of targets.”
“The result of all this activity is an emerging JORC Resource at Triumph.”
Following today’s update, Sunshine Gold shares were trading down 2.22 per cent at 4.4 cents per share at market close.
