Sunshine Gold Limited (ASX:SHN) has reported abundant sulphide intersections over 250m following the completion of a second diamond drill hole at the Wilbur’s Hill Prospect, within its 100% owned Ravenswood West Project near Townsville, Queensland, Australia.
The drill holes are testing a breccia pipe gold target analogous to nearby major gold mines at Mt Leyshon (3.5 Moz Au) and Mt Wright (1.0 Moz Au).
Sunshine Gold Managing Director, Damien Keys, said the diamond drilling served to explain Wilbur’s Hill’s geophysical anomalism, identified by a recent induced polarisation-magneto- telluric (IP-MT) survey .
“The two diamond holes both contain abundant sulphide within a chlorite-biotite-magnetite altered domain that is around 250m thick,” Dr Keys said.
“The zone also contains rhyolite, both brecciated and flow banded, showing similarities to Mt Wright and Mt Leyshon. The sulphide-rich zone overlaps with the IP geophysical anomalism. We will complete our structural/geological logging and also await assays to optimise the third planned diamond hole.
“We have also been busy identifying ten other targets that look similar to Wilbur’s Hill.” he said.
Second diamond drill hole intersects broad sulphide zone at Wilbur’s Hill
A second diamond drill hole (22WHDD002) has been completed to a depth of 807.5m depth at Wilbur’s Hill. The was collared 100m to the south of the initial diamond drill hole (22WHDD001).
The second hole targeted coincident strong IP chargeability, low IP resistivity and low magnetotelluric resistivity responses from a recent Titan IP-MT survey. Strong chargeability responses from IP are typically indicative of high sulphide contents. Ore at the Mt Wright and Mt Leyshon gold mines contained abundant sulphides (pyrite ± marcasite).
Drill hole 22WHDD002 intersected abundant pyrite (1 – 10%) within granodiorite and rhyolite from ~400m to 655m. Alteration was strong throughout the hole, grading from carbonate- chlorite-epidote-hematite to sericite dominated and biotite alteration. Magnetite is also seen accompanying pyrite as disseminations and veins (up to 4cm) from 480m. The hole also intersected several intrusive units up to 12m wide, including locally flow banded and brecciated rhyolites, felsic porphyries and mafic dykes.
Drill hole 22WHDD001 (510.5m) intersected rhyolites (up to 9.0m thickness), within a biotite- chlorite-magnetite alteration assemblage. The hole also displayed pyrite as the dominant sulphide over a broad interval. The sulphide was coincident with a strong IP chargeable response in geophysical survey data. The lithologies, alteration assemblages and sulphide zones correlate well between the drilled holes.
Third hole will be targeted using all assay data and structural/geological logging information.
A third hole was initially designed to be drilled with the current diamond program. The success of the first two diamond holes in explaining the geophysical survey information has led to a decision to await assays before drilling the third hole. This will also allow time to complete detailed structural logging to better inform drill hole targeting.
Further breccia pipe gold targets to be assessed.
Based on the prospectivity of Wilbur’s Hill, a further 10 targets with similar geophysical and geochemical signatures have been identified at Ravenswood West. Field validation and baseline geochemical surveys will commence on highest ranking targets in early 2023.
Planned activities
• Dec 2022: Assay results for Elphinstone Creek rare-earth element drill program, Ravenswood West.
• Dec 2022: Assay results for Wilbur’s Hill drill program, Ravenswood West
• Jan – Feb 2023: Extensional drilling Triumph Au
• Jan 2023: Quarterly Report
• Feb 2023: Completion of third diamond hole at Wilbur’s Hill, Ravenswood West
For further information please visit: https://shngold.com.au/
