The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Sunshine Gold (SHN) extends the scale of the Keans prospect within its Ravenswood West project in north Queensland
  • The company confirmed the large-scale system potential of the prospect after mapping high-grade copper-molybdenum-silver to an area southwest of previous drilling
  • Rock chip samples from the program included 7.5 per cent copper, 0.13 per cent molybdenum, 12.3 grams per tonne (g/t) silver and 0.14 g/t gold
  • Sunshine says these drill results will be incorporated into a regional geological model and used for drill-hole targeting
  • Sunshine Gold is up 2.94 per cent, trading at 1.8 cents at 1:52 pm AEDT

Sunshine Gold (SHN) has extended the scale of the Keans prospect within its Ravenswood West project in north Queensland.

The company confirmed the large-scale system potential of the prospect after mapping high-grade copper-molybdenum-silver to the southwest of 15 reverse circulation holes which were previously drilled in 2021.

The drilling intersected discrete veins with chlorite–sericite alteration haloes, which the company reported revealed veins containing “abundant” sulphide.

Rock chip samples from the drilling included 7.5 per cent copper, 0.13 per cent molybdenum, 12.3 grams per tonne (g/t) silver and 0.14 g/t gold.

Further results included 5.6 per cent copper, 0.24 per cent molybdenum 106 g/t silver, 0.62 per cent lead and 0.12 per cent antimony.

“Interestingly, one sample also returned anomalous lead and antimony with high-grade silver, which are all pathfinders to gold in the district,” Sunshine Gold Managing Director Damien Keys said.

These drill results will be incorporated into a regional geological model and used for drill-hole targeting.

Drilling at Keans will be incorporated into a broader program, which has been planned at various prospects across Ravenswood West during 2023.

Sunshine Gold shares were up 2.94 per cent and trading at 1.8 cents at 1:52 pm AEDT.

SHN by the numbers
More From The Market Online
The Market Online Video

Market Close: ASX200 falls, Woolworths slumps on CEO exit, Domino’s & WiseTech surge

The ASX200 closed down about three-quarters of a per cent. The staples sector took the biggest…
The Market Online Video

Market Update: Coles & Woolworths lead staples tumble as ASX200 slides

The ASX200 is down about point three-quarters of a per cent. The sectors are fairly split…

ASX uranium watch: 5 junior stocks with announcements out today

Anyone who reads my articles will know I've been predicting for a while we're going to…

Income Asset Management Group (ASX:IAM) awarded $160 million mandate for NFP bond holdings

Income Asset Management Group (ASX:IAM) has landed a mandate to provide execution services for $160 million…