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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.
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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.
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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.
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