Sunshine Metals roars on demonstrating potential for larger Tigertown oxide gold system

Sunshine Minerals’ drilling has demonstrated the potential for its Tigertown prospect to host a larger oxide gold system.

• Sunshine Metals’ first-pass drilling has intersected gold mineralisation at Tigertown

• Results demonstrate the potential for a larger oxide system

• Next phase of drilling to test extensions to gold-silver mineralisation

Special Report: First-pass reverse circulation drilling to identify shallow oxide gold at Sunshine Metals’ Tigertown prospect within its Ravenswood Consolidated project in Queensland has intersected broad mineralised zones.

The seven hole program totalling 641m returned 17 significant intersections topping out at 30m grading 0.58g/t gold and 57g/t silver from 34m including 4m at 2.01g/t gold, 201g/t silver, 4.14% zinc and 1.93% lead (25TTRC004).

Most of this mineralisation was intersected more than 30m below surface and Sunshine Metals (ASX:SHN) noted the thickness and grade of gold mineralisation appeared to be stronger at shallow depths and within the oxidised profile.

It pointed out that this probable supergene enrichment was evident in hole 25TTRC004 and historical drilling that returned results such as 17m at 3.05g/t gold and 40g/t silver from 22m and 33m at 1.95g/t gold and 30g/t silver from 12m.

“The gold-silver intersections demonstrate the potential for a larger oxide system at Tigertown,” managing director Dr Damien Keys said.

“Our best result is our shallowest significant intersection. The drilling has now refined our geological model and will allow us to target the near-surface gold-silver more effectively.”

Cross section showing projected Tigertown mineralisation. Pic: Sunshine Metals

Ravenswood Consolidated project

The Ravenswood Consolidated project in Queensland hosts a resource of 6.99Mt at 4g/t gold equivalent, or 904,000oz of contained gold equivalent.

It includes the promising Liontown, Coronation, Tigertown and Plateau prospects, which are the current targets of exploration to evaluate the commercial potential.

SHN’s strategy is focused on identifying shallow gold oxide resources for potential processing at nearby toll-treating mills.

Its next phase of drilling at Tigertown will target near-surface extensions to defined gold-silver mineralisation and assess updip extensions of strong silver intersections ~680m southeast and along strike of Tigertown.

Watch: Sunshine doubles Ravenswood Consolidated gold

Planning is also underway for drilling at Plateau, which has an inferred resource of 49,000oz at 2g/t gold.

The company plans to start shallow RC drilling at Liontown in April to recover samples for metallurgical testwork and provide enough data to upgrade the inferred resource of 21,000oz gold at 1.8g/t and 307,000oz silver at 26g/t to the higher confidence indicated category.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Sunshine Metals roars on demonstrating potential for larger Tigertown oxide gold system