{"id":1310,"date":"2023-11-13T01:23:47","date_gmt":"2023-11-13T01:23:47","guid":{"rendered":"https:\/\/economicherald.net\/?p=1310"},"modified":"2023-11-13T01:23:47","modified_gmt":"2023-11-13T01:23:47","slug":"elephant-hunter-sunshine-lights-up-after-drilling-into-thick-shallow-gold-at-coronation","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1310","title":{"rendered":"Elephant hunter Sunshine lights up after drilling into thick, shallow gold at Coronation"},"content":{"rendered":"<p>Sunshine Metals announces 8m at 1.29 g\/t gold from 10m, including 3m at 2.23 g\/t gold from 10m at Coronation project<br \/>\nDrilling at Coronation is part of a larger program at the Ravenswood Consolidated project<br \/>\nThe company will review historical geophysical programs to design a new geophysical survey early next year<br \/>\nDrilling is also wrapping up at Liontown, Cardigan Dam and Plateau projects<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Sunshine Metals has intersected shallow gold at the Coronation prospect, <\/strong><strong>part of a larger drill program at the wider Ravenswood Consolidated project \u2013 including the Liontown, Cardigan Dam and Plateau gold projects in Queensland.<\/strong><\/p>\n<p>The explorer is hunting for large mineral systems in a district which has produced over 20Moz gold and 14Mt of volcanic massive sulphide ore (copper-gold, zinc-lead).<\/p>\n<p>Notably, the Coronation prospect is a<strong>\u00a0<\/strong><a href=\"https:\/\/stockhead.com.au\/resources\/sunshine-is-about-to-drill-a-lookalike-of-the-historic-high-grade-highway-reward-copper-gold-mine\/\"><strong>\u201cgeological analogue\u201d<\/strong><\/a><strong>\u00a0<\/strong>for the nearby, historic high-grade Highway-Reward mine which produced 3.9Mt at 5.4% copper and 1.1 g\/t gold.<\/p>\n<p>The company has now completed eight RC holes testing six gravity anomalies at Coronation, where rock chip samples up to 13.8 g\/t Au have been recorded.<strong>\u00a0<\/strong><\/p>\n<p>These latest assays included 8m at 1.29 g\/t gold from 10m (23CORC004), including 3m at 2.23 g\/t gold from 10m (23CORC004) and 1m at 1.51 g\/t gold from 16m (23CORC004).<\/p>\n<p>\u00a0<\/p>\n<p>Cross section through 7750810mN showing the gold intersection in 23CORC004. Pic via SHN<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Significant gold target to follow up<\/strong><\/h2>\n<p>Hole 23CORC004 also intersected a 13m wide zone of oxidised quartz-barite veining beneath an outcropping barite vein hosting up to 5.33g\/t gold (CORX082).<\/p>\n<p>The outcropping vein is mapped over 100m of strike.<\/p>\n<p>\u201cWe are excited to see a significant gold intercept in the recent Coronation drilling,\u201d <a href=\"https:\/\/stockhead.com.au\/company\/sunshine-metals-shn\/\"><strong>Sunshine Metals (ASX:SHN)<\/strong><\/a> managing director Dr Damien Keys said.<\/p>\n<p>\u201cThe gold bearing, quartz-barite veining in 23CORC004 has been mapped at surface over 100m of strike before being obscured by thin cover.<\/p>\n<p>\u201cA broad shallow intersection gives a solid target for follow up in early 2024.\u201d<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Highway-Reward style base metals potential<\/strong><\/h2>\n<p>The analogue for Coronation is the Highway-Reward copper-gold mine where a zinc-lead halo surrounded the gold\/copper-gold zones.<\/p>\n<p>Elevated zinc and lead have also been intersected at Coronation with anomalous results including 2m at 1.79% zinc, 0.62% lead, 0.17 g\/t gold, 0.15% copper from 90m (23CORC003).<\/p>\n<p>\u201cAside from the obvious gold potential at Coronation, quartz-barite veining is accompanied by base metal anomalism (zinc to 2%, lead to 0.8%),\u201d Dr Keys said.<\/p>\n<p>\u201cThe Highway-Reward mine also contained low level lead and zinc in the halo to the mineralised massive sulphide pipes.<\/p>\n<p>\u201cThe program has demonstrated the potential for copper-gold massive sulphide style mineralisation.<\/p>\n<p>\u201cA review of historical geophysical programs will be undertaken during December 2023 to design a new geophysical survey in early 2024.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Ravenswood Consolidated Project with prospects in current drill program (green) and major nearby mines (yellow). Pic via SHN<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drilling ongoing at Liontown<\/strong><\/h2>\n<p>The plan going forward is for extensional drilling to test the potential of the gold mineralised zone.<\/p>\n<p>The potential for deeper Highway-Reward style copper-gold mineralisation will also be tested.<\/p>\n<p>\u201cThe rig has also recently completed programs at Liontown and Plateau before moving to Cardigan Dam, where drilling is nearing completion,\u201d Dr Keys said.<\/p>\n<p>\u201cOne final diamond hole is planned at Liontown to complete the broader drilling program.\u201d<\/p>\n<p>This final diamond hole will assess the potential for a gold-rich feeder to the <a href=\"https:\/\/stockhead.com.au\/resources\/assays-pending-sunshine-is-drilling-multiple-targets-in-a-20moz-gold-district\/\"><strong>zinc-copper-lead VMS system<\/strong><strong> at Liontown<\/strong><\/a>.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Sunshine Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/elephant-hunter-sunshine-lights-up-after-drilling-into-thick-shallow-gold-at-coronation\/\">Elephant hunter Sunshine lights up after drilling into thick, shallow gold at Coronation<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Sunshine Metals announces 8m at 1.29 g\/t gold from 10m, including 3m at 2.23 g\/t gold from 10m at Coronation project Drilling at Coronation is <a href=\"https:\/\/economicherald.net\/?p=1310\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1311,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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