Sunshine Metals (ASX:SHN) is set to expand its exploration efforts at the Ravenswood Consolidated Project in Queensland, with a focus on upgrading the inferred resource at the Liontown prospect. A reverse circulation drilling program, scheduled for this month, will aim to elevate the resource to the indicated category and gather samples for metallurgical testwork. Liontown currently holds a resource of 21,000 ounces of gold at 1.8 grams per tonne and 307,000 ounces of silver at 26g/t.
This initiative follows the company’s discovery of broad zones of gold-silver mineralization at the Tigertown prospect, also within the Ravenswood project. Recent drilling at Tigertown yielded assays including 30 meters at 0.58g/t gold and 57g/t silver from 34 meters, with a high-grade section of 4 meters at 2.01g/t gold, 201g/t silver, 4.14% zinc, and 1.93% lead. Managing Director Damien Keys highlights the potential for a larger oxide system at Tigertown, noting that further drilling, planned for early 2025, will target additional shallow prospects, including Liontown West, Coronation, and Plateau.
Sunshine Metals is prioritizing the identification of shallow oxide gold resources suitable for processing at nearby toll treating mills. The company aims to rapidly assess the commercial viability of its Ravenswood prospects. Plateau, another advanced target, has an inferred resource of 49,000 ounces of gold at 2g/t, requiring further drilling and metallurgical testing, expected to commence in May 2025, to advance its resource classification. The Ravenswood Consolidated Project is situated in the Charters Towers-Ravenswood district, a region historically rich in gold and base metal production.
