Sunshine Metals Limited (ASX: SHN) has received assays for a further 3 diamond drill holes from Liontown at the Ravenswood consolidated project, North Queensland.
Sunshine managing director, Dr. Damien Keys, commented “The Liontown drilling continues to deliver fantastic results. Most encouraging are the high Au and Cu grades being returned from the under-drilled footwall lodes. The drilling results will support a resource upgrade expected in late 2023.
Modelling of the Liontown resource indicates the deposit is comprised of both Cu-Au rich and ZnPb rich lodes within a volcanogenic massive sulphide (VMS) system.
The hangingwall lodes, such as Main Lode and New Queen, trend towards more Zn-Pb dominant; whereas the footwall lodes, such as Carrington, Western Footwall, and the Gap, are principally more Cu-Au enriched.
Assays have been received for a further three holes and include numerous high-grade Cu-Au, and Pb-Zn intersections.
Highlights include:
- 7m @18.6% ZnEq comprising 2.50g/t Au, 0.4% Cu, 5.0% Pb, and 11.9% Zn
- 8m @5.99% ZnEq comprising 0.98g/t Au, 1.1% Cu, 0.6% Pb, and 1.13% Zn
- 1m @10.14% ZnEq comprising 0.22g/t Au, 0.8% Cu, 8.2% Zn
- 2m @6.36% ZnEq comprising 2.1% Cu
- 1.37m @7.46% ZnEq comprising 2.6% Cu
The company has stated that the results continue to show resource growth potential to both the east and west of the existing Liontown resource.
Additionally, the previous owners of Liontown completed 24 diamond holes prior to acquisition. Of these, 18 holes have now been announced by Sunshine, with six remaining holes either at the laboratory or in geological processing. Results for these remaining holes are expected throughout July and August 2023.
