Sunshine Metals (ASX:SHN) said it intercepted broad zones of silver-gold mineralization at the Tigertown target within the Ravenswood consolidated project in Queensland after a first-pass reverse circulation drilling campaign, according to a Friday ASX filing.
Significant intercepts from the campaign included 30 meters at 0.58 grams per tonne grade of gold, 57 g/t grade of silver from 34 meters, as well as eight meters at 0.87 g/t grade of gold and 63 g/t grade of silver from 72 meters. The next phase of drilling will target these near-surface extensions to define silver-gold mineralization.
Drilling will also test the Liontown, Liontown West, Coronation, and Plateau targets.
Its shares fell 13% in recent trading on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.