Sunshine Metals (ASX:SHN) is shifting its focus to advance the Ravenswood Consolidated Project in North Queensland, with specific attention to the Liontown prospect. The company plans to initiate metallurgical studies, a resource update, and mining studies aimed at potentially upgrading Liontown’s resource category. Recent reverse circulation drilling has provided metallurgical samples, essential for elevating the resource from inferred to indicated status. The mining study is slated to commence next month, following the completion of resource and metallurgical updates.
Recent drilling at Liontown has revealed further shallow gold mineralization, with assays showing promising results such as 3m @ 3.05 grams per tonne gold at surface, 5m @ 481g/t gold from 6m, and 3m @ 22.82g/t gold, 351g/t gold from 13m. Managing Director Damien Keys highlighted the “fantastic” gold grades near the surface. Liontown currently holds a resource of 360,000 tonnes @ 1.8g/t gold and 26g/t silver, totaling 21,000 ounces of gold and 307,000 ounces of silver. Furthermore, drilling has been completed at the Salla and Plateau targets, with assays expected in early July. These efforts align with Sunshine’s strategy to identify shallow oxide gold resources for rapid commercial evaluation, underscoring its commitment to its Queensland gold and copper portfolio.
