Sunshine Metals (ASX:SHN) strike a golden feeder at LiontownNovember 24, 2023
Sunshine Metals has returned multiple, high-grade gold intercepts and proven the concept of a gold-rich feeder zone leading into a large established VMS resource at the Liontown Prospect, part of its greater Ravenswood Consolidated Project in northern Queensland.
Exceptional results up to 17m @ 22.1g/t gold from a first hole into the new zone validated a Main Feeder concept, and a new geological model has spotted up two more potential feeders into the overlying 2.3Mt Zn-Au-Cu-Pb-Ag resource.
Sunshine Managing Director Dr Damien Keys said the stunning intercepts are a great reward for solid geological work done by the team.
“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,” Dr Keys said.
Dr Keys added that the company has also completed a shallow diamond hole into a feeder target 30 metres westward of the star intercept which will yield critical structural orientation data to target the northern feeder.
“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,” he said.
“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.”
Sunshine expects more assays soon from another ten RC holes into testing feeder and footwall lodes interpreted to be copper-gold rich parts of the Liontown VMS System.
Surrounded by historic and operating production, the Ravenswood Consolidated project is considered prospective for multiple commodities, systems, and deposits and is already host to several high-grade resources remaining open at depth and along strike.
More drilling is planned for late this year and early into 2024, with a Resource update due in before the end of the year set to include these eye-opening results.
- 2m @ 8.99 g/t Au from 20m
- 1m @ 4.54 g/t Au from 42m, and
- 17m @ 22.14 g/t Au from 67m,
– Including 6m @ 58.74 g/t Au from 68m
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