Sunshine Metals expects to upgrade Liontown resources this quarter. Pic: Getty Images
Resource growth on the cards as Sunshine Metals’ copper and gold drilling closes Liontown Gap Zone
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- Diamond drilling confirms continuity of mineralisation at the under drilled Gap Zone
- Sunshine Metals notes that veining and sulphides were intersected in all six holes at the planned target horizons
- Further drilling will tighten drill spacing to better understand grade and thickness variability of the mineralisation
Special Report: Diamond drilling at the 400m-long, under-drilled Gap Zone at Sunshine Metals’ Liontown project has confirmed the continuity of mineralisation and returned encouraging copper hits at depth.
Importantly, veining and sulphides were intersected in all six holes at the planned target horizons at the Gap Zone, which is outside the current resource.
Notable assays from the first three holes, which sit ~80m from previous drilling that returned up to 16.2m grading 4.54g/t gold and 1.11% copper, include:
- 6m at 2.01% copper, 0.29g/t gold, 1.72% zinc and 0.7% lead from 343m including 2.2m at 4.48% copper, 0.45g/t gold, 2.98% zinc and 1.8% lead from 343.8m
- 1m at 1.34% copper, 18.95g/t gold
- 3m at 0.45% copper, 0.2g/t gold, 5.06% zinc and 1.5% lead
- 1m at 0.34% copper, 0.26g/t gold, 7.12% zinc and 3.22% lead
Sunshine Metals (ASX:SHN) expects to receive assays from the remaining three holes in early November.
The 400m Gap Zone sits between the Liontown and Liontown East deposits, which have resources totalling 4.4Mt at 10.7% zinc equivalent.
Liontown itself is part of the broader Ravenswood Consolidated project in a Queensland district that has produced over 20Moz gold and 14Mt of volcanogenic massive sulphide (VMS) ore (copper-gold, zinc-lead).
Progressing towards resource upgrade
“We are encouraged by the continuity of mineralisation in predictable locations within the Gap Zone, from what is early, broad-spaced step-off drilling. In particular, the strong copper results at depth are highly encouraging that our model for the formation of Liontown is stacking up and providing additional targets for follow-up drilling,” managing director Dr Damien Keys said.
“Gold-copper focussed metallurgical test work is also progressing well and will be reported in late October 2024. The drilling and metallurgical work will culminate in a resource update/upgrade in the December 2024 quarter.
“The Gap Zone remains lightly drilled with only eight Sunshine holes to date and the next phase of drilling in early 2025 will focus on tightening the drill spacing to better understand grade and thickness variability of the mineralisation. Further drilling will test a historic VTEM and geochemical anomaly on the western end of Liontown.”
Mapping mineral distributions to aid targeting
SHN adds that mapping the distribution and relative ratios of minerals that were precipitated out of a hot fluid during the formation of the Liontown mineral system has provided into its formation and importantly, vectors to new or coppergold rich mineralisation.
It has used the ratio of copper to zinc to map out interpreted “hot zones” to assist with drill targeting as the “hot zones” are interpreted to be most likely to host copper-gold rich mineralisation.
Notably, this has already resulted in the identification of two main “hot zones” that coincide with the historical Carrington workings and the gold-rich panel that has returned results including 17m at 22.1g/t gold from 67m and 20m at 18.21g/t gold from 114m.
A third “hot zone” is inferred on the western end of the Liontown resource. The target zone coincides with an untested, historical VTEM anomaly and is considered prospective for further copper and gold mineralisation.
Further “hot zones” are expected to be identified in fluid flow areas.
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.
