Sunshine Gold Limited (ASX:SHN) has identified a number of drill targets at its wholly- owned Ravenswood West Project in central Queensland after refining the geology model for the large-scale copper porphyry system at the Bank prospect.
Ravenswood West sits adjacent to Queensland’s largest gold mine and is host to a pipeline of intrusion related gold systems as well as a number of polymetallic targets along a 15km long Cu- Au-Ag-Mo mineralized porphyry corridor which includes the Bank prospect.
Sunshine Gold Managing Director, Dr Damien Keys, said refining the geology model at the Bank interpreted the mineralized margin of the porphyry to be around 180m thick.
“Proximity to the margin and the porphyry contact is a key control on copper mineralization, and based on the refined model, several margin/porphyry contact targets will be drilled in the June 2023 quarter,” Dr Keys said.
Bank Porphyry (100%)
The Bank is a large-scale, copper porphyry system extending for >three km in circumference with copper anomalism (>700ppm Cu in soil sampling) strongest around the mapped porphyry of the holes intersected thick, higher-grade mineralization and elevated gold (to 0.18g/t Au) on the contact between the margin and the porphyry. Best results:
o 102m @0.34% Cu, 150ppm Mo from surface (BANP3) o 50m @0.36% Cu, 49ppm Mo from 62m (BANP4)
Two further historic holes plus a Sunshine Gold hole (22BKRC005), were drilled further from the porphyry contact in the “buffer zone” with encouraging results including:
o 58m @0.30% Cu from 28m (BANP8) and 12m @0.32% Cu from 124m (BANP8) and 12m @0.27% Cu from 190m to end of hole (BANP8)
o 14m @0.47% Cu, 123ppm Mo from 62m (BANP2)
o 71m @0.21% Cu, 140ppm Mo from 101m to end of hole (22BKRC005)
Based on all available data, the geology model has been refined with a number of drill targets identified at the porphyry contact.
Observations from the conceptual model for the porphyry mineralization include:
o mapped quartz porphyry in the core of the target area;
o best Cu-Au-Ag mineralisation intersected on the margins of the porphyry;
o highest soil sampling Cu grades immediately surrounding mapped porphyry; and
o strong potassic alteration in the core of the mapped porphyry, with strong sericite alteration in the mineralized buffer zone.
For further information please visit: https://shngold.com.au/
