Sunshine Metals Says 82 Drill Holes Completed As Part of Queensland Project Grade Control Drilling Program, Shares Reach Three-Year Peak

MT Newswires Live

Jan 28

Sunshine Metals (ASX:SHN) said a total of 82 holes for 3,216 meters of the extended 121-hole reverse circulation grade control drilling program have been completed on the shallow gold resource at Liontown, part of the Ravenswood consolidated project in Queensland, according to a Wednesday Australian bourse filing.

It encountered intercepts of 30 meters at 6.68 grams per tonne grade of gold and 396 g/t grade of silver from 17 meters, as well as 24 meters at 7.08 g/t grade of gold and 305 g/t grade of silver from 14 meters.

The Liontown mining study expects a resource of 108,000 ounces of gold at 4.37 g/t grade of gold and 803,000 ounces of silver at 31.6 g/t grade of silver, on track for delivery in February.

The firm's shares jumped over 27% in recent trading on Wednesday, reaching the highest point in over three years.

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