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Sunshine Metals Gold Hit Confirms Liontown Feeder Zone

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THE DRILL SERGEANT: Sunshine Metals (ASX: SHN) reported on recent drilling activity at the Liontown prospect within the company’s Ravenswood Consolidated project in North Queensland.

Sunshine Metals announced it has intersected multiple high-grade gold zones in the first of 12 RC holes at the Liontown prospect, which it has interpreted to be gold and copper rich feeder zones to the project’s overlying 2.3 million tonne zinc-gold-copper VMS Resource.

The company declared the assays from the first hole into this zone as ‘exceptional’, adding they validate the new Main Feeder concept:

23LTRC002
2 metres at 8.99 grams per tonne gold from 20m
1m at 4.54g/t gold from 42m, and
17m at 22.14g/t gold from 67m, Including 6m at 58.74g/t gold from 68m.

“The stunning intercepts at Liontown are a great reward for the solid geological work completed by the team,” Sunshine Metals managing director Dr Damien Keys said in the company’s ASX announcement.

“The decision was made to target the gold-copper rich footwall and feeder zones to the Liontown Resource with a high impact, shallow RC program.

“The feeder zones have not been recognised by past explorers and are often difficult to target.

“We have also completed a shallow diamond hole into the feeder target, approx. 30 metres west of the intercept in 23LTRC002.

“The diamond hole will yield critical structural orientation data, which will be used to target the feeder to the north of the current Liontown Resource.

“The identification of the likely feeder zone has given us confidence in our novel approach.

“It also suggests that there are possibly two further feeder zones that are poorly drill tested.

“One coincides with the historic Carrington gold workings and the second is potentially located in the under drilled Gap Zone between Liontown and Liontown East.

“The find presents a new opportunity to rapidly grow the gold and copper inventories at the Liontown Resource and validates a means of hunting these feeder zones at other VMS prospects nearby including Waterloo and Orient.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Sunshine Gold Drills Large-Scale Gold Confirmation at Triumph Project

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THE DRILL SERGEANT: Sunshine Gold (ASX: SHN) results from RC drilling at the company’s 100 per cent-owned Triumph Project near Gladstone in Queensland.

Sunshine Gold explained the drilling tested a new target 600 metres south of the Southern Corridor within the project that hosts over 90 per cent of the current Resource of 118,000 ounces at 2.03 grams per tonne gold.

This 90 per cent is, in turn, hosted in 20 per cent of three kilometres within 6km of delineated structure of the Southern Corridor, shallower than 100m.

Two 80m spaced holes intersected gold and pathfinder elements within a 1km long geochemical and geophysical anomaly, returning results including:

23TRRC036
4 metres at 1.92 grams per tonne gold, 151g/t silver, 1.62 per cent zinc, 1.25 per cent lead from 48m; and

23TRRC035
3m at 1.23g/t gold from 38m.

Further extensional drilling was also undertaken, from which the company expects to extend the immediate Southern Corridor Resource.

Other drilling conducted over 400m of the Northern Corridor was also deemed successful by the company from a Resource growth perspective.

“Encouraging intersections in big step out drilling has reaffirmed that Triumph is a large-scale gold system,” Sunshine Gold managing director Dr Damien Keys said in the company’s ASX announcement.

“We have previously drilled about 20 per cent of the Southern Corridor down to 100 metres to deliver our current Resource.

“The recent program has tested extensions to the Southern Corridor, new zones in the Northern Corridor and a new untested, target structure 600 metres south of the existing Resource – Far South.

“The Far South drilling intersected encouraging gold and very high silver grades with two holes, 80m apart.

“The soil and geophysical anomaly persist for over one kilometre and now presents as an exciting new area for significant Resource growth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Sunshine Gold Consolidates High-Grade Gold Prospects at Ravenswood

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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

 

 

Sunshine Gold Continues Broad Copper Zone Growth at Ravenswood

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THE DRILL SERGEANT: Sunshine Gold (ASX: SHN) received assay results from drilling recently undertaken on the Bank and Titov East prospects that are part of a 15 kilometres long mineralised corridor at the company’s Ravenswood West project in Queensland.

Sunshine Gold reported assay results have been returned for a five-hole reconnaissance RC drilling program at the Bank copper-gold-silver-molybdenum target, from which two holes, 22BKRC004 and 22BKRC005 contained increasing copper grades toward the end of hole, which the company interpreted to be suggesting a strengthening copper trend to the south of current drilling.

Further assay results were received from broad step off drilling at the Titov Main copper-gold-silver-molybdenum target that extended the length of mineralised zone to over 500 metres.

Titov Main is now defined to depths of 350m with an average intercept thickness of 81m.

Sunshine said assay results from hole 22TVRC012 had also confirmed continuity of a high-grade footwall zone the company had identified in previous drilling campaigns.

“The five RC hole reconnaissance program at the Bank has given us a solid vector to another porphyry copper-gold-silver-molybdenum system,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“The 70 metres thick intercept of copper mineralisation at the end of 22BKRC005 is a fantastic result from limited drill metres and will allow us to effectively test the Bank in our September drilling campaign.

“The results from the eastern end of Titov Main have returned more solid copper and molybdenum mineralisation.

“Titov is a significant mineral system, now delineated over 500 metres of strike, to depths of 350 metres with an average intercept thickness of 81 metres.

“The next round of pending results will incorporate those drilled into a strong IP conductor at Titov Main.

“We eagerly await the outstanding assay results and have already commenced follow up drill planning at the Bank, and our first drilling at Gagarin copper-gold-silver-molybdenum and Wilburs Hill gold.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au

 

Resources Roadhouse Steak Sandwich Showdown

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THE CONFERENCE CALLER: If it’s Monday in Kalgoorlie for the annual Diggers & Dealers Gabfest then the smart money moves to The Resources Roadhouse Steak Sandwich Showdown.

Rapidly emerging as a ‘must attend’ event at the annual forum, The Resources Roadhouse showcases junior exploration plays at the Showdown that are unable to elbow their way into the jam-packed three-day program.

While attendees masticate on their steak sandwiches this year, they will hear from the companies featured below.

 

Austral Resources (ASX: AR1)

 

Austral Resources recently achieved the production of the first copper cathode at the company’s Anthill copper mine, within the Lady Annie copper project in Queensland.

The production of copper cathode from Anthill completes a phase of intensive mine development and plant commissioning since the company listed on the ASX in November 2021.

Austral is confident this paves the way for it to meet its stated objective of producing copper cathode at a rate of 10,000 tonnes per annum from mid-2022.

Leading up to the cathode announcement, Austral inked reciprocal non-binding exploration earn-in agreements with MIM, a subsidiary of one of the world’s largest mining companies, Glencore.

The deal will be a boon for the company’s upcoming exploration efforts that are being scaled up to discover and deliver new copper ore, including oxide exploration drilling at several prospects.

 

Cannon Resources (ASX: CNR)

 

Cannon Resources is working up two nickel projects in the northern Goldfields region of Western Australia, approximately 200 kilometres north-east of Leonora.

The Fisher East project hosts four high-grade nickel sulphide deposits: Musket, Camelwood, Cannonball, and Sabre, all located very close to each other with a combined JORC 2012 Mineral Resource containing 116,300 tonnes of nickel.

Recent assays achieved at the Sabre deposit confirmed the high-grade nickel content of the massive sulphide mineralisation developed on the northern margin of the Sabre channel.

The high-grade nickel mineralisation has over 250 metres of plunge extent and remains open across strike and up and down plunge.

The Collurabbie project contains a JORC 2012 Inferred Mineral Resource of 573,000 tonnes at 1.63 per cent nickel, 1.19 per cent copper, 0.082 per cent cobalt, 1.49 grams per tonne palladium, 0.85g/t platinum at the Olympia deposit.

 

Caspin Resources (ASX: CPN)

 

Caspin Resources has made healthy inroads at the company’s Yarawindah Brook and Mount Squires projects in recent times.

At Yarawindah Brook, Caspin has demonstrated evidence of edging closer to a major discovery at the Serradella prospect, where early drilling results encouraged the company to quickly commence planning a follow-up program.

Meanwhile, Caspin has opened a second exploration front at Mount Squires with drilling of the Duchess prospect, which has been on the drawing board for well over 12 months.

Caspin believes this soil anomaly holds unique characteristics unlike anything else in the region and importantly, potentially substantial scale.

Although at a very early stage, Caspin considers the high-risk exploration worth the effort as the potential large rewards could make it all worthwhile.

 

Dreadnought Resources (ASX: DRE)

 

Dreadnought Resources’ project portfolio currently boasts three diverse West Australian projects covering a mix of geological terrains and target commodities.

The Tarraji-Yampi copper-silver-gold-cobalt project is located in the West Kimberley, the Mangaroon nickel-copper-PGE-REE-gold project is located in the Gascoyne, and the Central Yilgarn project speaks for itself.

Earlier this year Dreadnought was able to commence exploration activities earlier than anticipated at the Tarraji-Yampi prospect, in the form of a low impact auger sampling system that was specially designed for Taraji-Yampi allowing the company to commence exploration earlier in the season before road access had been re-established.

Of seven quality targets identified, two were noted to be associated with outcropping mineralisation with others (OR3 and OR4) both associated with untested Fixed Loop EM conductors.

More recently, Dreadnought declared confirmation of genuine REE scale potential following RC drilling at the Yin prospect within the Mangaroon project after drilling identified mineralised ironstones over three kilometres of strike remaining open in all directions and at depth.

The company has to date, completed 67 RC holes, which besides providing confirmation of the REE ironstones, also include further evidence of parallel lodes along strike.

 

Miramar Resources (ASX: M2R)

 

Miramar Resources holds projects in the Eastern Goldfields, the Murchison and Gascoyne regions of WA.

The company’s portfolio of exploration projects has potential for new gold discoveries within trucking distance of existing operations and for the discovery of nickel-copper-platinum group element (PGE) mineralisation.

Three projects in the Eastern Goldfields are considered to hold potential for new gold discoveries within proximity to existing mining and/or processing operations:

Gidji JV (80%): a strategic land position within the Boorara Shear Zone, 15km north of Kalgoorlie;
Glandore: an underexplored project with high-grade drill results 40km east of Kalgoorlie; and
Randalls: a folded BIF adjacent to Silver Lake Resources’ Mt Belches gold operations.

The company has been actively exploring the Gidji JV Project since listing on the ASX in October 2020, resulting in the identification of several new targets which it believes could host a major gold discovery.

 

Peak Minerals (ASX: PUA)

 

Peak Minerals’ diversified multi-commodity portfolio of quality, under-explored Australian copper and gold assets is centred around prospective known copper and gold producing regions.

A focus of late has been the company’s Green Rocks project near Meekatharra in WA, which incorporates the existing Copper Hills and Lady Alma prospects.

A recent Phase 2 air core drill program confirmed the presence of intrusions at other targets, including Tal Val, Target C and Target B.

At Target B, broad zones of highly encouraging nickel intercepts were identified below the regolith/fresh rock interface.

Follow up RC and diamond drilling is now underway with the RC component looking to intercept shallow targets between a depth of 300 – 375m, particularly at Target B.

The holes are also targeting prospective geology and geochemical anomalies found during air core drilling and EM surveys at Rixon and Lady Alma.

The holes will be surveyed using DHEM to further resolve conductors, particularly those picked up by Moving Loop Electromagnetics (MLEM).

 

Meeka Metals (ASX: MEK)

Meeka Metals has a dual focus across the company’s 100 per cent-owned portfolio of Western Australia-based assets where it is exploring for gold and rare earths.

Meeka’s number one asset is the Murchison gold project in the Murchison Gold Fields that hosts a large high-grade 1.1 million ounces of gold JORC Resource, which the company is actively growingas it progresses toward production.

Meeka also owns the Circle Valley project in the Albany-Fraser Mobile Belt (home to the Tropicana gold mine that historically produced 3 million ounces of gold), where it has identified gold in four separate locations presenting a potential growth opportunity.

The company’s second focus is its Cascade rare earths project, from which it recently announced a neew batch of high-grade rare earth assays that have continued to affirm widespread rare earth mineralisation while displaying very high proportions of the valuable magnet rare earths, which is an important determinant in the economics of these deposits.

 

Turaco Gold (ASX: TCG)

 

Turaco Gold has the Eburnea gold project in central Cote d’Ivoire and three advanced and highly prospective projects in northern Cote d’Ivoire.

Recent activity resulted in gold assay results from its first reconnaissance style drilling undertaken at the Bouake North prospect, within the Eburnea project.

Turaco Gold had previously identified a large 7km by 4km gold-in-soil anomaly at Bouake North via auger drilling across the entire anomaly defining six in-situ gold anomalies.

Subsequent reconnaissance style drilling has to date tested just two of these targets and has returned high-grade, shallow gold.

Elsewhere within the portfolio, gold assay results were achieved from diamond core and AC drilling at the Nyangboue prospect, within the 89 per cent-owned Boundiali project in northern Côte d’Ivoire.

These assay results confirmed extensions to previously drilled mineralisation at the Nyangboue prospect, along with a new parallel zone of mineralisation at surface over 400 metres in strike.

Mineralisation remains open in all directions at Nyangboue.

 

ON THE BENCH

In these wild and wacky days of COVID, The Roadhouse likes to have reserves on hand should anything untoward happen to our presenting guests. Below are a couple of contenders who may get a run as medical subs, should the need arise.

 

Sunshine Gold (ASX: SHN)

 

Sunshine Gold has a portfolio of quality gold and copper projects in Queensland comprising a 100 per cent interest in the Ravenswood West gold-copper-rare earth project, the Triumph gold project, the Hodgkinson gold copper project, and the Investigator copper project.

Recent activity involved RC drilling at the Bank copper-gold-silver-molybdenum prospect at Ravenswood West.

This was the first drilling to be carried out for over 50 years at the Bank prospect, from which Sunshine Gold took great encouragement since all five reconnaissance RC holes intersected broad zones of disseminated and vein-hosted sulphides within intensely altered host granodiorite.

As is the usual stories with such excitement these days, assays are expected July-August 2022.

Not to be perturbed, Sunshine Gold has already outlined follow up drilling will be designed to test the porphyry contact and the zone between the soil and IP anomalism and will review the assay data, when it arrives, to refine further targets.

 

QEM Limited (ASX: QEM)

QEM Limited is exploring, with the view to development of, the company’s Julia Creek vanadium / oil shale project in North Western Queensland.

QEM describes the Julia Creek vanadium / oil shale project as being a unique world class resource with the potential to deliver innovative energy solutions, through the production of energy fuels and vanadium pentoxide.

The project’s JORC 2012-compliant Mineral Resource of 2,850 million tonnes at 0.31 per cent vanadium pentoxide, including 310 million tonnes in the Indicated category, is one of the single largest ASX listed vanadium resources that QEM views as a great opportunity for development.

 

 

 

Sunshine Gold Rare Earths Target Grows at Elphinstone Creek

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THE DRILL SERGEANT: Sunshine Gold (ASX: SHN) reported results from recent rare earth element (REE) soil sampling carried out at the Elphinstone Creek REE-gold prospect within the company’s 100 per cent-owned Ravenswood West project in Queensland.

Sunshine Gold received assay results from a further 171 soils samples at Elphinstone Creek, which it said continue to demonstrate the highly anomalous rare earth nature of the ‘regionally unique’ Barrabas Adamellite alkali intrusion.

Elevated REE from recent soil sampling at Elphinstone Creek include 17 results greater than 1,000ppm total rare earth oxides (TREO) with a peak value of 1,327ppm.

“Elphinstone Creek shapes as a significant rare earth system,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“It is located within a regionally ‘unique’ alkali intrusion that is importantly high in the permanent magnet metals being neodymium and praseodymium (which constitute an estimated 90% of global rare earth values).

“We have engaged rare earth specialists from the Australian National University to expedite our understanding of the mineralogy and nature of the rare earth mineralisation.

“Soil sampling continues at Elphinstone Creek and is anticipated to have covered the whole of the highly prospective Barrabas Adamellite in July 2022.

“Furthermore, Elphinstone Creek is located on the southern end of a 15 kilometres long corridor of copper-gold-silver-molybdenum and rare earth targets, where drilling is set to recommence once the current rain events subside in late May 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au

 

Sunshine Gold Completes Maiden Resource Estimate at Triumph Gold Project

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THE DRILL SERGEANT: Sunshine Gold (ASX: SHN) announced the maiden JORC 2012-compliant Mineral Resource Estimate for the company’s 100 per cent-owned Triumph gold project near Gladstone in Queensland.

The MRE has come in totalling 1.8 million tonnes at 2 grams per tonne gold for 118,000 ounces contained gold and was delivered just 16 months since Sunshine Gold commenced drilling in December 2020 at a discovery cost of $20.83 per ponce, plus acquisition cost of $3.39 per ounce.

The bulk of the Resource is located over approx. 1.25 kilometres of strike in the Triumph Southern Corridor, meaning the Resource comprises just some 25 per cent of the greater than 5km long Southern Corridor, providing potential for the company to grow along strike and at depth.

It is anticipated that further untested geophysical targets are likely to extend the Southern Corridor further.

“The maiden Resource at Triumph has initially focussed on small centres within the broader Southern Corridor – a mineralised network of coalescing faults and veins,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“There is certainly scope to extend the known mineralisation as the Resources remains open along strike and at depth.

“Mineralisation along the broader Southern Corridor, identified in previous drilling and IP geophysical data, is expected to further expand the Resource during 2022.

“Drilling will recommence at Triumph in June 2022, with a focus on extending the Resource in the Southern Corridor and delineating new Resources in the Northern Corridor near historic workings.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au

 

Sunshine Gold Encounters High Grade Gold Intercepts in Triumph Southern Corridor

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THE DRILL SERGEANT: Sunshine Gold (ASX: SHN) reported on recent drilling undertaken on the Southern Corridor within the company’s Triumph gold project in Queensland.

Sunshine Gold completed an 84-hole campaign, from which initial results have already delineated extensions to known mineralisation in the Southern Corridor.

Initial results from 23 holes of extensional drilling have been returned and include:

21SCRC004
4 metres at 11.71 grams per tonne gold from 16m;

22NCRC022
2m at 16.18g/t gold from 98m; and

21NCRC013
3m at 10.41g/t gold from 161m.

Sunshine indicated the results are to be included in the maiden JORC Resource, expected to be released in March 2022 at which time assays are expected for the remaining 61 holes of both infill and extensional drilling.

“The first results from the Southern Corridor drilling are encouraging,” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“The results received are for extensional drilling, of which some are likely to make it into the March 2022 JORC Resource.

“Intercepts from areas where extensional drilling needs to be infilled, will be drilled in mid-2022 and incorporated into subsequent Resource releases.

“As interpreted, veins of different orientations coalesce into one mineralised network.

“It is our interpretation that this is indicative of the entire Southern Corridor – a network of interconnected mineralised veins, that in due course have the potential to form a large system.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au

 

Sunshine Gold Intersects Titov Mineralised Zone

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THE DRILL SERGEANT: Sunshine Gold (ASX:SHN) reported on diamond drilling completed last year at the Titov copper-silver-molybdenum target within the company’s Ravenswood West gold-copper-rare earth project in Queensland.

Sunshine Gold completed drilling the 501.5 metres deep Titov diamond drill hole (21TVDD001) in late December 2021.

The hole was collared approximately 300m south-east of the surface outcrop, having targeted an Induced Polarisation (IP) anomaly, the company had interpreted to be an extension of the copper-silver-molybdenum mineralisation it had intersected in the RC drilling carried out in September 2021.

The company believes the sulphide abundance in the mineralised zone adequately explains the IP anomaly.

“The Titov core looks quite spectacular!” Sunshine Gold managing director Damien Keys said in the company’s ASX announcement.

“Coarse molybdenite is common in quartz veining and chalcopyrite is observed in veining and disseminated in the host porphyry.

“The hole provides context to observations made in weathered surface outcrop and RC drill chips.

“We can see lithological and alteration contacts, mineralisation styles and have been able to gather orientation data on small faults and veining.

“We have now defined the Titov copper-silver-molybdenum system over 300 metres of strike and 300 metres down dip from the outcrop.

“Titov is open at depth and to the east, where the highest copper grades have been intersected.

“There is also a gold in soil anomaly to the east of the drill defined system and exploration efforts will focus on extending the system in 2022.”

Sunshine will have the core cut and assayed, with results expected in late March 2022.

Once cut, select samples of core will be sent for petrology to better understand the timing of alteration events and mineralisation.

Historic diamond drill core from Titov drilling in 1967 has been located at the Queensland Exploration Data Centre, Brisbane.

Sunshine geologists will assess the condition of the historic core in February and relog and photograph all available drill core.

The company has submitted application to cut and sample the historic core.

Follow up RC is being planned to test the eastern extension to the Titov mineralised system at relatively shallow depths that is planned to commence in April.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@shngold.com.au

 

Web: www.shngold.com.au