- Sunshine Gold (SHN) receives ‘positive’ assays from historical soil and rock chip sampling at the Ellen Boss and Bank targets within the Ravenswood West project in WA
- The historical Bank target contains anomalous copper and molybdenum anomalies with values of up to 700ppm copper and 20ppm molybdenum
- MD Damien Keys says SHN is “particularly excited” about the potential for another large-scale system at the Bank and drilling is expected to begin at Bank in two weeks
- The Ellen Boss target also returned strongly anomalous values of up to 3.58g/t gold, 10.05g/t silver, 6.81 per cent copper and 2.87 per cent lead
- SHN shares are up 3.45 per cent, trading at 3 cents as of 2:32 pm AEST
Sunshine Gold (SHN) have received assays from soil survey and rock chip sampling at the Ellen Boss and Bank targets, within the Ravenswood West project in Western Australia.
The Bank is a historical target located on the southern end of a 15-kilometre-long copper-gold-silver-molybdenum corridor which hasn’t been explored since 1971.
A review of historical data outlined Bank as a high-priority target which contains an anomalous copper soil anomaly with values up to 700 parts per million (ppm) and a molybdenum soil anomaly of up to 20ppm.
Historical rock chip sampling returned a peak assay of 49.07 per cent copper, 1793 g/t silver, 2077ppm molybdenum and 0.24g/t gold.
The company is also currently undertaking its own rock chip sampling program at the main Bank area. However recent samples taken from Bank South have returned assays of up to 5.8 per cent copper, 0.18g/t gold, 25.8g/t silver and 783ppm molybdenum.
Managing Director Damien Keys said Sunshine Gold is “particularly excited” about the potential for another large-scale system at the Bank.
“The Bank will be the first target drilled in the upcoming reverse circulation (RC) program that will also test extensions to Titov and test geophysical targets at Titov North and Titov South,” Mr Keys said.
Drilling is anticipated to commence in two weeks at the Bank before moving to the Titov prospect.
The Ellen Boss target, located in the south of the Dreghorn trend, returned strong assay results from soil sampling and mapping, and exhibited ‘strongly anomalous’ gold, copper and silver.
Sunshine Gold collected 379 soil samples which returned assays up to 0.67g/t gold. The company also collected 13 rock chip samples which returned elevated values of up to 3.58g/t gold, 10.05g/t silver, 6.81 per cent copper and 2.87 per cent lead.
Mr Keys confirmed that further work will be undertaken to assess the gold and base metal potential of the Southern Dreghorn target.
SHN shares were up 3.45 per cent, trading at 3 cents as of 2:32 pm AEST.