- Sunshine Gold (SHN) receives assay results from the first drilling program in almost three decades at the Western Dreghorn prospect in North Queensland
- A 34-hole reverse circulation drilling program was completed to identify which orientations of faulting were most likely to contain gold
- Of the one metre samples, the highest grade returned was 6.81 grams per tonne gold from seven metres downhole
- SHN says the combination of results will assist in refining future drill targeting
- Shares closed the trading day flat at 5 cents each
Sunshine Gold (SHN) has received assay results from the first drilling program in almost three decades at the Western Dreghorn prospect in North Queensland.
The prospect is located within the Ravenswood West project which covers 20-25 kilometres of strike along a major fault and contains numerous historic gold workings.
SHN completed a 34-hole reverse circulation drilling program at the prospect, the first since 1993, with the aim of identifying which orientations of faulting were most likely to contain gold.
Of the one metre samples, the highest grade returned was 6.81 grams per tonne gold from seven metres.
The company said overall, the results confirmed north-north-west oriented faulting as the preferred orientation for hosting mineralisation.
In undertaking the drilling program, SHN reprocessed existing magnetic surveys and a subsequent structural re-interpretation.
Mapping and rock chip sampling was also completed over key localities including historic shafts and costeans.
To date, 1,274 soil sampling assays have been received, with the samples assayed for 63 elements to better constrain lithological and structural models and define pathfinder anomalism. SHN said its had used the results to generate targets.
Sunshine Gold’s Managing Director Damien Keys said the results would assist in refining future drill targeting when combined with the nine kilometre by two kilometre gold in soil anomaly, comprehensive geochemical dataset collected and high-grade rock chip results.
The initial targets for follow up field validation have been generated, reportedly from the strongest gold pathfinders being anomalous lead and zinc.
At the Eastern Dreghorn prospect, a significant gold anomaly has been identified which reportedly aligns with a series of historic shafts at the un-mined Kirkers.
The company also completed thirteen holes for 1,270 metres along a west-north-west striking fault north of Albion but didn’t intersect significant mineralisation.
Shares closed the trading day flat at 5 cents each.