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Highlights:
Sunshine Metals anticipates an upgrade to the Liontown deposit’s mineral resource estimate in early December 2024.
Recent diamond drilling at the Gap Zone has identified significant high-grade gold and new resource growth areas.
The company is advancing electromagnetic surveys to enhance drill targeting for potential copper-gold mineralisation.
Sunshine Metals (ASX:SHN) is poised to upgrade the mineral resource estimate (MRE) for its Liontown deposit after receiving final assays from its latest diamond drilling program. This upgrade, expected in early December 2024, follows successful exploration activities at the Gap Zone, which lies between the Liontown and Liontown East resources, located within the Ravenswood Consolidated Project in Queensland.
The Gap Zone drilling program covered 77 holes, totaling 14,764 meters, and highlighted a high-grade gold panel within an under-drilled footwall zone. Notably, the drilling resulted in 20 significant intercepts over an area of 160 meters long and 200 meters deep, enhancing the company’s understanding of the resource potential. Among the key findings, the gold-rich zone returned notable results such as 17 meters at 22.1g/t gold and 20 meters at 18.21g/t gold, validating the concept of "hot zones" for future exploration.
Sunshine Metals has also made progress with its electromagnetic surveys. A fixed-loop survey revealed a modern conductor 100 meters west of the current Liontown resource at a depth of 50 meters. This is seen as a potential area for copper-gold rich mineralisation, which could further expand the company’s exploration footprint.
Furthermore, two key zones have been identified for further exploration, coinciding with the historical Carrington workings and the newly identified gold-rich panel. A third inferred zone on the western edge of Liontown is also being targeted, coinciding with an electromagnetic anomaly, making it an exciting prospect for future drilling.
The company's Ravenswood Consolidated Project, located in a district with over 20 million ounces of gold production and significant volcanic massive sulphides ore, remains a focus for Sunshine Metals’ exploration and development efforts.
