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Highlights:
Sunshine Metals initiates a shallow drilling campaign at Liontown to assess metallurgical and physical recoveries.
Program aims to upgrade the current inferred resource status and support development of near-surface oxide gold.
The company is focused on advancing Queensland gold projects, with drilling at Plateau also scheduled to begin next month.
Sunshine Metals (ASX:SHN), listed on the ASX, is advancing exploration within the precious metals sector, concentrating on gold and copper resources in Queensland. The company has launched a shallow drilling campaign at the Liontown prospect, part of its broader Ravenswood Project. This initiative is designed to support the classification upgrade and technical assessment of existing mineral resources.
Metallurgical Testing and Resource Reclassification at Liontown
The ongoing work includes a reverse circulation drilling program comprising nearly thirty shallow holes. The goal is to provide samples for metallurgical analysis and better determine the physical and metallurgical recovery characteristics of the current gold-silver oxide resource. The company plans to use these results to elevate the classification from inferred to indicated status.
The existing mineral inventory at Liontown comprises gold and silver at moderate grades. This effort reflects Sunshine's broader strategy to unlock value from near-surface resources and advance development-readiness.
Broader Exploration Activity Across Ravenswood Prospects
In addition to Liontown, Sunshine is undertaking further exploration activities at several nearby prospects, including Coronation, Plateau, and Tigertown. At the Coronation deposit, the upcoming stage of geophysical investigation involves refining anomalies previously identified through induced polarisation with follow-up electromagnetic surveys.
Plateau, another key area in Sunshine’s exploration suite, currently holds a defined inferred gold resource. Plans are underway for additional drilling and metallurgical testing to further delineate the deposit and improve confidence in its resource classification. This work is scheduled to commence in the coming month and includes a combination of drilling metres and laboratory analysis.
Project Strategy and Development Outlook
Sunshine's approach focuses on identifying shallow oxide gold resources amenable to processing via nearby toll treatment mills. The company is prioritising projects that align with this model, which may enable expedited pathways to resource utilisation. The Liontown area currently represents the most advanced of Sunshine's assets, supported by existing resource estimates and ongoing metallurgical investigations.
Additionally, the company is progressing through the planning and permitting phases for work at Plateau. Future efforts there will focus on advancing the geological understanding and transitioning the project toward feasibility considerations.
Market Context and Upcoming Engagements
The company’s initiatives are being pursued within a broader backdrop of elevated gold prices, which have recently experienced upward movement. Sunshine Metals maintains a modest market capitalisation and continues to allocate capital toward exploration and technical studies that support near-term resource development.
As part of its investor and stakeholder outreach, the company will be present at the RIU Sydney Resources Round-up in early May, where it will provide updates on its exploration programs and progress across its Queensland tenements.
