Sunshine Gold (ASX:SHN) - Managing Director, Damien Keys
Managing Director, Damien Keys
Source: Damien Keys/LinkedIn
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  • Sunshine Gold (SHN) encounters elevated rare earth elements (REEs) from recent soil sampling at the Elphinstone Creek prospect in Queensland
  • A total of 11 samples returned more than 1000 parts per million (ppm) total rare earth oxides (TREO) with a peak value of 1327ppm TREO
  • The soil sampling confirmed 15 historical stream sediment samples with strong neodymium and praseodymium levels as well as high-grade gold
  • Overall, grades peaked at 0.37 per cent neodymium oxide, 0.11 per cent praseodymium oxide and 6.28 grams per tonne (g/t) gold
  • Sunshine is down 4.55 per cent on the market with shares trading at 4.2 cents

Sunshine Gold (SHN) has encountered elevated rare earth elements (REEs) from recent soil sampling at the Elphinstone Creek prospect.

The Elphinstone Creek prospect is part of Sunshine’s Ravenswood West Project which lies 100 kilometres south of Townsville in Queensland.

A total of 11 samples returned more than 1000 parts per million (ppm) total rare earth oxides (TREO) with a peak value of 1327ppm TREO.

The soil sampling confirmed 15 historical stream sediment samples with strong neodymium and praseodymium levels as well as high-grade gold.

Overall, grades peaked at 0.37 per cent neodymium oxide, 0.11 per cent praseodymium oxide and 6.28 grams per tonne (g/t) gold.

Stream sampling was also undertaken on tributaries from Barrabas Creek with results including 1.63 per cent TREO, including 0.26 per cent neodymium oxide and 0.08 per cent praseodymium oxide.

A total of 309 samples were collected with results confirming that the Barrabas Adamellite is rich in REEs.

The soil sampling will be extended to the south throughout the year to better define targets for preliminary drill testing.

“This sampling produced exceptional REEs and gold results from Elphinstone Creek and its tributaries. Importantly, the REEs are high in neodymium and praseodymium which constitute an estimated 90 per cent of global REE value,” Managing Director Damien Keys said.

“Our recent soil sampling campaign has confirmed that the Barrabas Adamellite is a REE-enriched intrusion.”

Sunshine was down 4.55 per cent on the market with shares trading at 4.2 cents at 2:21 pm AEDT.

SHN by the numbers
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