{"id":8236,"date":"2024-04-11T01:59:15","date_gmt":"2024-04-11T01:59:15","guid":{"rendered":"https:\/\/economicherald.net\/?p=8236"},"modified":"2024-04-11T01:59:15","modified_gmt":"2024-04-11T01:59:15","slug":"sunshine-metals-sends-in-reinforcements-to-drill-gold-rich-gap-zone-at-liontown","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8236","title":{"rendered":"Sunshine Metals sends in reinforcements to drill gold-rich Gap Zone at Liontown"},"content":{"rendered":"<p>A second drill rig is kicking off an RC drill program to test historic shafts at Liontown\u2019s Gap Zone<br \/>\nThe nine-hole program across 600m has potential to extend the gold-rich oxide zone in north Queensland<br \/>\nDiamond drilling continues at the Gap Zone, downhole EM surveys to follow<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: Sunshine Metals has mobilised a second drill rig to accelerate exploration at its Liontown project to test extensions to high-grade gold mineralisation delineated in the footwall of the resource.<\/strong><\/p>\n<p>It\u2019s a great time to get into gold, with prices going gangbusters above $3,500\/oz and expected to rise even further.<\/p>\n<p>Any whiff of decent grades are sending explorers digging for the shiny stuff and <a href=\"https:\/\/stockhead.com.au\/company\/sunshine-metals-shn\/\"><strong>Sunshine Metals (ASX:SHN)<\/strong><\/a> is no exception, using <a href=\"https:\/\/stockhead.com.au\/resources\/sunshine-metals-is-roaring-after-inking-4m-placement-to-begin-gold-copper-focused-drilling-at-liontown\/\">$4m of recently raised capital<\/a> to accelerate drilling programs at Liontown, where it has intersected up to 16.42g\/t gold at the Gap Zone.<\/p>\n<p>Liontown, near Charters Towers in QLD, is part of SHN\u2019s broader Ravenswood Consolidated project, in a district where +20Moz gold and 14Mt of VMS copper-gold and zinc-lead ore has been produced.<\/p>\n<p>\u00a0<\/p>\n<p>A map of Ravenswood consolidated. Pic via SHN<\/p>\n<p>\u00a0<\/p>\n<h2><strong>RC drilling to kick off at Liontown<\/strong><\/h2>\n<p>A nine-hole RC drill program across ~600m will test for oxide mineralisation around four historic shafts sunk into the gold and copper rich Main Feeder Zone within Liontown\u2019s Gap Zone footwall.<\/p>\n<p>\u201cThe shafts are estimated to be at least 20m deep and spoil from around the shafts suggests gold and copper were mined,\u201d SHN managing director Dr Damien Keys says.<\/p>\n<p>\u201cThe drilling has the potential to extend the gold-rich zone to a potential oxide zone at surface which would bring dimensions of the zone to ~300m x 140m.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Trace gold and malachite in a sample collected from a spoil adjacent to the under drilled historic Sapindinus shaft. Pic via SHN<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Ongoing diamond drilling<\/strong><\/h2>\n<p>Meanwhile, Liontown diamond drilling continues, targeting extensions of high-grade gold and copper mineralisation around an interpreted feeder to the mineralisation recently defined.<\/p>\n<p>SHN is targeting high-grade footwall extensions of the pumice breccia horizon east of the Main Feeder Zone and into the ~400m long Gap Zone, where only two gold-focused holes had been historically drilled into the footwall.<\/p>\n<p>\u201cDrilling in the Gap Zone is currently testing ~100m from a historic intersection that assayed 1.75m at 16.42g\/t gold and 6.27% copper,\u201d Keys says.<\/p>\n<p>\u00a0<\/p>\n<p>Gold and copper distribution across 1.6km at the Liontown project. Pic via SHN<\/p>\n<p>\u00a0<\/p>\n<p>To date, three holes within the Gap Zone program have been completed.<\/p>\n<p>Assay results are expected to flow during April and May and downhole EM surveys will follow, guiding future Gap Zone drilling.<\/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>\u00a0<\/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\/sunshine-metals-keys-sends-in-reinforcements-to-drill-gold-rich-gap-zone-at-liontown\/\">Sunshine Metals sends in reinforcements to drill gold-rich Gap Zone at Liontown<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>A second drill rig is kicking off an RC drill program to test historic shafts at Liontown\u2019s Gap Zone The nine-hole program across 600m has <a href=\"https:\/\/economicherald.net\/?p=8236\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8237,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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