Sunshine Metals Limited (ASX:SHN) Defines New Au-Cu Target at Coronation
Exploration Results
Sunshine Metals Limited has defined a compelling Au-Cu target at the Coronation gold-copper prospect, part of the Ravenswood Consolidated Project. A strong chargeable and conductive geophysical anomaly coincides with significant geochemical anomalies, indicating a Highway-Reward style Au-Cu target approximately 2.7km north of the historic Highway-Reward Mine.
Geophysical and Geochemical Findings
An induced polarisation (IP) survey returned the strongest chargeable response to date at the Ravenswood Consolidated Project. Soil sampling delineated a 1km long anomaly with over 30ppb Au on the contact between rhyolite and andesitic volcanics, coinciding with the geophysical anomaly. Surface mapping identified a barite vein network with rock chip samples grading up to 6.70g/t Au.
Drilling Initiatives
Sunshine completed initial reverse circulation (RC) drilling with eight holes totaling 1,220m at Coronation. Hole 23CORC004 intersected 8m @ 1.29g/t Au from 10m. A nine-hole, approximately 600m RC drill program is planned to test a 400m section of the shallow Au-bearing barite vein network and to guide deeper massive sulphide exploration.
Planned Activities
Key upcoming activities include:
– Completion of drilling at Tigertown by March 2025
– Mapping update for Liontown Dome in March 2025
– Participation in the Gold Coast Gold Conference on 13-14 March 2025
– Drilling results announcement from Tigertown in March 2025
– Commencement of Coronation drilling between March and April 2025
Executive Comments
Managing Director Dr Damien Keys stated, “The range of survey work completed has generated an excellent drill target at Coronation. Importantly, the target has geological context, multiple overlapping layers of anomalism and shares many similarities with the nearby Highway-Reward Mine. Our upcoming drilling at Coronation will provide critical information for refining deeper massive sulphide targets while looking for shallow gold.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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