Sunshine Gold Consolidates High-Grade Gold Prospects at Ravenswood

THE BOURSE WHISPERER: Sunshine Gold (ASX: SHN) has signed a binding Farm-In and Joint Venture agreement with London-listed Rockfire Resources to earn up to 75 per cent of the Lighthouse gold project Queensland.

The Lighthouse adjoins Sunshine Gold’s 100 per cent-owned Ravenswood West project and, subject to completion and earn-in, will expand that project by approx. 16 per cent to 1,091 square kilometres.

Lighthouse contains a JORC 2012 Inferred Resource of 961,000 tonnes at 1.66 grams per tonne gold totalling 50,000 ounces at the Plateau Breccia Prospect as well as strong pipeline of advanced gold prospects with known, high-grade mineralisation.

“The deal allows Rockfire to focus on their emerging Molaoi zinc-lead-silver-germanium deposit in Greece, while allowing us access to a number of high-quality, advanced prospects adjacent to Ravenswood West,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“Lighthouse further consolidates Sunshine Gold’s holding in the prolific and highly prospective Ravenswood District.

“The initial 50,000 ounces gold Resource at Plateau gives Sunshine Gold a second Resource front (with Triumph 118,000 ounces gold Resource) with potential for rapid growth.

“In addition to Plateau, Lighthouse contains a suite of advanced prospects with strong gold and base metals results from soils, rock chips and drilling.

“Field validation of drill targets at Plateau, Double Event- Lighthouse, Cardigan Dam and Horse Creek will commence in January 2023 ahead of first drilling planned for March 2023.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE