- Sunshine Gold (SHN) wraps up its first of three diamond drill holes at Wilbur’s Hill within its Ravenswood West project near Townsville
- Sunshine reported the first diamond hole returned “abundant” sulphide over 400 metres in strongly altered and locally brecciated host rocks
- The company has now progressed onto the deepest of the planned drill holes, which is expected to take around two weeks to drill
- Meanwhile, aircore drilling has also been completed at the Elphinstone Creek rare earths prospect to assess the nature of highly anomalous rare-earth mineralisation
- SHN shares have ended the day up 2.17 per cent to trade at 2.4 cents
Sunshine Gold (SHN) has wrapped up its first of three diamond drill holes at Wilbur’s Hill within its Ravenswood West project near Townsville.
The holes are being drilled to test a breccia pipe gold target, which have been deemed similar to nearby major gold mines.
Sunshine reported the first diamond hole returned “abundant” sulphide stretching over 400 metres in strongly altered and locally brecciated host rocks.
The company has now progressed onto the deepest of the planned drill holes, which is expected to take around two weeks to complete.
Meanwhile, aircore drilling has also taken place at the Elphinstone Creek rare earths prospect, positioned 25 kilometres southeast of Wilbur’s Hill.
This was drilled to assess the nature of highly anomalous rare-earth mineralisation identified in soil and stream sediment sampling.
The company told investors assays have been dispatched to a laboratory in Townsville, with results expected in December.
“The exploration team have had a big week,” Sunshine Gold Managing Director Dr Damien Keys said.
“The two drill programs are the first ever drilled at both projects and have vastly different target mineralisation styles and program aims.”
Sunshine expects to report another drilling update in two weeks’ time.
SHN shares were up 2.17 per cent, trading at 2.4 cents at market close.