Join our daily newsletter At The Bell to receive exclusive market insights
Sunshine Metals (ASX:SHN) has identified large gold and silver mineralisation at shallow depths through recent drilling at Tigertown – one of several prospects under the Ravenswood Consolidated Project umbrella in Queensland.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Assays from a first pass reverse circulation drilling program picked up broad zones of mineralisation, including 30 metres at 0.58 grams per tonne (g/t) of gold (Au), 57g/t of silver (Ag) from 34m, including 4m at 2.01g/t Au, 201g/t Ag, 4.14% Zn, 1.93% Pb from 38m (25TTRC004); plus 8m at 0.87g/t Au, 63g/t Ag from 72m.
The program comprised seven holes for 641 metres, from which 17 significant intersections showing better than 0.5g/t of gold were returned.
Additionally, most mineralisation intersected less than 30 metres from surface.
“The gold-silver intersections demonstrate the potential for a larger oxide system at Tigertown,” managing director Dr Damien Keys declared, adding much more drilling would soon be progressed at the site.
“Our best result is our shallowest significant intersection. Drilling has now refined our geological model and will allow us to target the near-surface gold-silver more effectively.”
Sunshine is now planning to focus on these near-surface extensions to better delineate the gold and silver mineralisation there.
More market news
Kowtow: “Biggest day in financial history” on Trump’s tariffs retreat
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
He continued: “Tigertown is just one of the shallow targets we will be testing in early 2025. Drilling will test other targets Liontown (oxide extensions), Liontown West, Coronation, and Plateau as we rapidly pursue our shallow oxide strategy.”
Sunshine Metals last traded at 0.7cps today after a 12.5% fall in value.
Join the discussion: See what HotCopper users are saying about Sunshine Metals and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
