Sunshine Metals Limited: Coronation Drilling Finished, Liontown Drilling Ongoing

Sunshine Metals Limited (ASX: SHN) has successfully concluded its initial RC drilling campaign at the Coronation Au-Cu target, which involved eight holes covering a distance of 1,220 meters. These boreholes aimed to explore six gravity anomalies, with rock chip samples registering impressive values of up to 13.8 grams per ton of gold. The presence of a substantial quartz barite vein system in the drilling results provides optimism for a potentially gold-rich geological structure. Assay results are eagerly anticipated and anticipated to be disclosed in November.

Simultaneously, drilling has commenced at the Liontown Project, focusing on the Cu-Au-rich Carrington Lode. This phase encompasses an initial 11 holes, spanning a total of 1,135 meters. In December 2023, these drilling efforts will factor into a Resource update, which will also encompass an additional 96 holes that were previously excluded from the existing 4.94 million tons at 12.0% ZnEq Resource. Following Liontown, Sunshine Metals Limited will persist with drilling at unexplored gold targets, including the northeastern sector of the Plateau breccia pipe with a 50,000-ounce gold Resource, as well as shear zones at Cardigan Dam. These endeavors are part of a broader exploration initiative at the Ravenswood Consolidated Project (100%) in North Queensland.

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