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Sunshine Gold (ASX:SHN) - Managing Director, Damien Keys
Managing Director, Damien Keys
Source: Sunshine Gold
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  • Sunshine Gold (SHN) confirms a large-scale copper-molybdenum system at the Titov prospect at Ravenswood West
  • Eight reverse circulation holes across 1500 metres were drilled at the prospect, with assays from the first two holes returned
  • The company says the assay results confirm a large-scale vein and alteration system, with associated molybdenite and chalcopyrite logged in broad intervals
  • SHN says it will maintain its momentum at Titov with geophysical surveys, diamond drilling and soil sampling in November
  • Sunshine Gold closed 18 per cent down at 5 cents per share

Sunshine Gold (SHN) has confirmed a large-scale copper-molybdenum system at the Titov prospect at Ravenswood West.

The Titov prospect is the first of at least five prospects set to be tested by Sunshine Gold along a 15-kilometre prospective corridor.

Eight reverse circulation holes across 1500 metres were drilled at the prospect, with assays from the first two holes returned.

The program looked to assess the potential for gold-silver mineralisation within the copper-molybdenum mineralisation and define the dip of the mineralised envelope.

The first two holes returned assays including 121 metres at 0.35 per cent copper, 0.11 per cent molybdenum and 1.99 grams per tonne (g/t) silver from one metre.

The company said assays confirmed a large-scale vein and alteration system. Quartz veining, intense chlorite-sericite alteration and associated molybdenite and chalcopyrite were also logged in broad intervals in all eight drill holes.

“We are encouraged by the potential of Titov where we have confirmed the large-scale system potential, the southerly plunge to mineralisation and gathered a full geochemical suite,” Sunshine Gold’s Managing Director Damien Keys said.  

“We will maintain momentum at Titov with geophysical surveys, diamond drilling and soil sampling commencing in November 2021.”

Meanwhile, first pass reconnaissance drilling at the Keans Prospect saw fifteen holes across 1830 metres drill tested. The company said the program intersected significant mineralisation in the form of discrete quartz, chalcopyrite–molybdenite veins in several holes.

Sunshine Gold closed 18 per cent down at 5 cents per share.

SHN by the numbers
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