Sunshine Gold Limited (ASX:SHN) has identified a significant new target with recent rare earth element (REE) soil sampling and the integration with historic stream sediment sampling at the Elphinstone Creek REE-Au prospect, Ravenswood West (Sunshine Gold 100%) in Queensland, Australia.
Highlights:
- Elevated REE from recent soil sampling at Elphinstone Creek including 11 results >1,000ppm total rare earth oxides (TREO) with a peak value of 1,327ppm. Discrete zones of REE enrichment are located near the pluton margins of the Barrabas Adamellite – a regionally “unique” alkali intrusion and the likely source of the REE.
- The soil sampling results confirm 15 historic stream sediment samples with strong Neodymium and Praseodymium oxides (NdPr) levels. The historic stream sampling also returned high-grade gold results.
- Best samples include: 2.28% TREO including 0.37% Nd2O3, 0.11 % Pr6O11 (SRS10163); 1.63% TREO including 0.26 % Nd2O3, 0.08 % Pr6O11 (SRS10149); 1.56% TREO including 0.25 % Nd2O3, 0.08 % Pr6O11 (SRS10160); 1.12% TREO including 0.19 % Nd2O3, 0.05 % Pr6O11 (SRS10164); 0.94% TREO including 0.15 % Nd2O3, 0.05 % Pr6O11 (SRS13008); 6.28 g/t Au & 0.83% TREO including 0.12% Nd2O3, 0.05 % Pr6O11 (SRS13012); and 1.11 g/t Au & 0.29% TREO including 0.04% Nd2O3, 0.01 % Pr6O11 (SRS10165)
- Historic rock chip sample taken 1.8km west of the Barrabas Adamellite contact returned 49.07% Cu, 0.24 g/t Au, 1,793 g/t Ag and 0.21% Mo (BKR-060). No follow up work has occurred in the vicinity of the rock chip sample.
Managing Director, Damien Keys, said integrated soil sampling and magnetic interpretation confirm that the stratigraphic and structural architecture of the greater Elphinstone area is analogous to that found at the nearby Ravenswood Gold Mine.
“Stream sediment sampling in 1995 and 2018 provided the first indications of REE potential associated with a regionally “unique” alkali intrusion – the ~27 sq. km Barrabas Adamellite,” Mr Keys said.
“This sampling produced exceptional REE and gold results from Elphinstone Creek and its tributaries. Importantly, the REE are high in Neodymium and Praseodymium which constitute an estimated 90% of global REE value.
“Our recent soil sampling campaign has confirmed that the Barrabas Adamellite is a REE-enriched intrusion. Furthermore, diamond drilling at the Bank Breccia prospect was never assayed for REE despite being hosted in the Barrabas Adamellite and containing 22.8m @ 0.6% Cu (SRD002).
“This core is now being prepared for REE assaying. This is part of a 15km long corridor and we are genuinely excited about the prospectivity, both REE and Au-Cu, of the Barrabas Adamellite and immediate surrounds. We have only sampled 14% of the Barrabas Adamellite and will continue to cover the remainder of the area.”
For further information please visit: https://shngold.com.au/
