Sunshine Metals (ASX:SHN) has secured $393,795 in grants from the Queensland Government’s Collaborative Exploration Incentive program. The funding will support exploration activities within the Ravenswood Consolidated Project. Specifically, $162,157 will be allocated to drilling and surveying at the Liontown North prospect, testing an induced polarization and electromagnetic anomaly through a 650m drillhole. An additional $231,638 will fund an airborne electromagnetic survey at the Highway-Reward deposit within the Coronation region, aimed at detecting a copper and gold system. These projects are scheduled to commence between June and July 2025.
Managing Director Damien Keys expressed appreciation for the government’s support, highlighting the significance of Liontown in Queensland’s strategic mineral inventory. Sunshine Metals has already completed a drilling program across 29 drillholes spanning 1,834m at Liontown, with results expected this month. The current inferred oxide resource estimate stands at 360,000 tonnes at 1.8g/t gold and 26g/t silver, containing 21,000 ounces of gold and 307,000 ounces of silver. The company will also commence a reverse circulation drilling program at the Salla and Plateau targets next month, in conjunction with the grant-funded projects. Sunshine Metals focuses on developing its Queensland project portfolio within a district that has historically yielded over 20 million ounces of gold and 14 million tonnes of zinc-copper-lead ore.
