Gold

Sunshine Gold experimenting with novel geophys tech at Ravenswood

Wed 01 Jun 22, 1:41pm (AEST)
An image depicting copper-coloured mineralisation within a host rock
Source: iStock

Stocks in article

shn
MktCap:
-

Commodities in article

Share article

Key Points

  • Sunshine trialling novel geophysical imaging tech at the Wilburs target
  • Highly prospective Gagarin target being selected for traditional induced polarisation testing
  • Drilling to commence at Titov South

Sunshine Gold (ASX:SHN) has today commenced its latest geoimaging activities on-site at the Ravenswood gold-copper-rare earths project adjacent the Ravenswood Mining Centre, a prolific gold producing region in north QLD. 

Sunshine acquired the tenements in February last year from former owners Stavely; the latter retains a 1% net smelter royalty on the project. 

An induced polarisation (ground electrodes) study will be conducted on the Gagarin target prospective for copper, gold, silver and molybdenum.

(Source: Sunshine Gold) A map locating Sunshine's targets at Ravenswood West
(Source: Sunshine Gold) A map locating Sunshine's targets at Ravenswood West

Gagarin of foremost interest

The Gagarin target is located 8km southeast of the company's Titov target and first visited by Sunshine geos back in 2021. 

Copper stained rocks were discovered at surface grading up to over 12% copper, 2.11g/t gold and 2,284ppm molybdenum. 

The area has been subject to drilling since the 1960s with previous RC results returning thick intersections over 30m at 0.32% copper and 1,264ppm molybdenum. 

Sunshine notes drill testing remains largely unexplored at depth beyond approximately 45m. 

The IP survey will cover all mapped and sampled areas, as well as those subject to historical drilling. 

Meanwhile, the company is preparing to conduct geophys imaging at the previously untested Wilburs Hill target, 1.5km south of Titov and 7km east of the Mt Wright deposit which has produced over 1M oz of gold. 

Field mapping at Wilburs has identified volcanic host rocks similar to those at Mt Wright and rock chip samples have returned results of 0.56g/t gold. Historical soil samples have also offered preliminary evidence of mineralisation at Wilburs in the past. 

New tech being used at Wilburs 

For Wilburs, the company will conduct IP imaging tweaked by Quantec Geosciences and marketed as the latter's 'TITAN IP-MT' technique, ultimately allowing geophys imaging at deeper depths. 

Sunshine Gold was the recipient of grant funding from the Queensland government to utilise the TITAN tech on-site. 

Back north at the Titov target, the company is this month to commence drilling on-site chasing up anomalies discovered in the last round of geophys imaging.

The company notes that at Titov, a broad area is thought to present with sulphide mineralisation supported by results from drill hole 21TVDD001, which the company labels 'Titov South.' 

Assays from Titov South included 3m @ 1.69% copper and 0.22g/t gold, as well as 17.28g/t silver.  

Sunshine's three month charts show the company is trading at a discount to the materials index
Sunshine's three month charts show the company is trading at a discount to the materials index

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

Get the latest news and media direct to your inbox

Sign up FREE