• Sunshine Metals’ RC drilling returns 17m at 22.1g/t gold at Liontown prospect in Ravenswood Consolidated project in QLD
  • Results confirm ‘feeder zone’ to 2.3Mt zinc-gold-copper VMS resource
  • Feeder zones mean an opportunity to rapidly grow gold and copper inventories
  • Further drilling planned in 2024

 

Special Report: Sunshine Metals has intersected multiple high-grade gold zones in drilling of the Liontown prospect, which it interprets to be feeder zones to the overlying 2.3Mt zinc-gold-copper volcanogenic massive sulphide (VMS) resource.

 

 

The explorer is hunting for large mineral systems in a district which has produced over 20Moz gold and 14Mt of VMS ore (copper-gold, zinc-lead).

VMS deposits are commonly associated with high grades of copper, zinc, lead, gold and silver – and importantly, often form in clusters.

Historic mining of gold-copper lodes, together with high-grade results (like 5m at 13.56 g/t gold and 8m at 4.24 g/t gold) indicated the potential for gold mineralisation not associated with base metals in massive sulphides.

Notwithstanding this potential, gold has not previously been a prime focus for past explorers, but Sunshine Metals (ASX:SHN) saw an opportunity to use fresh thinking and modern techniques to tap into the gold.

Now, the company has intersected 17m at 22.1g/t gold during a high-impact, shallow RC program targeting the gold-copper rich footwall and feeder zones to the Liontown resource – validating its ‘Main Feeder’ zone concept.

 

Two more potential feeder zones spotted 

The 12 RC holes also returned intersections of:

  • 2m at 8.99 g/t gold from 20m (23LTRC002);
  • 1m at 4.54 g/t gold from 42m; and
  • 17m at 22.14 g/t gold from 67m, including 6m at 58.74 g/t gold from 68m.

Importantly, the new geological model has also identified two further potential feeder zones near the historic Carrington Main Shaft and in the under drilled Gap Zone.

 

Sunshine Metals ASX SHN
Drill core from 23LTRD001 showing chalcopyrite, sphalerite and barite at 109.3m (left) and chalcopyrite within a heavily silicified and brecciated volcanic at 116.4m (right). Pic via SHN

 

“The identification of the likely feeder zone has given us confidence in our novel approach,” Sunshine managing director Dr Damien Keys said.

“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.”

 

Sunshine Metals ASX SHN
Long section of footwall of the Liontown resource showing the position of the interpreted feeder zones. Dominant metal zonation as gold dominant (red), copper dominant (green) and zinc dominant (purple) domains. Source: SHN.

 

Further drilling of feeder zones planned

A new geological model for Liontown has been developed which has already identified three potential feeder zones:

  • The Main Feeder to the 2.3Mt zinc-gold-copper-lead-silver VMS; and
  • A potential feeder to the historic Carrington Main Shaft; and
  • Another potential feeder to the under drilled Gap Zone.

“We have also completed a shallow diamond hole into the feeder target, ~30m west of the intercept in 23LTRC002,” Dr Keys said.

“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.”

A further 10 RC holes have been drilled at Liontown testing feeder and footwall lodes, interpreted to be the copper-gold rich parts of the VMS system, with assays expected in December 2023.

A resource update is also due in December 2023 and will incorporate these exceptional gold results.

Further drilling is planned for early 2024 to assess the potential Gap Zone gold rich feeder target.

 

 

This article was developed in collaboration with Sunshine Metals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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