Sunshine Metals’ Resource Surge Raises Expectations and Operational Stakes

Significant Resource Upgrade at Ravenswood

Sunshine Metals Ltd has announced a major milestone in its Queensland-based Ravenswood Consolidated Project with a 57% increase in contained gold and a 28% increase in total tonnes, lifting the recoverable gold equivalent resource to 904,000 ounces. This upgrade follows extensive drilling and geological reinterpretation since the acquisition of the Greater Liontown deposits in September 2023.

The Ravenswood district, historically prolific with over 20 million ounces of gold and 14 million tonnes of volcanic massive sulphide ore produced, remains a highly prospective region. Sunshine’s efforts have focused on expanding the high-grade Au-Cu zones, particularly at Liontown, where the resource now accounts for 64% of the total tonnes in the Ravenswood VMS resource.

Drilling Success and Metallurgical Advances

During the December quarter, Sunshine completed a six-hole diamond drilling program at the Gap Zone, returning encouraging assays including significant copper, gold, zinc, and lead intersections. These results have been incorporated into the updated resource estimate, confirming the presence of high-grade mineralisation beyond previous limits.

Complementing the drilling success, metallurgical test work demonstrated excellent recoveries: gold leaching achieved up to 97.4% recovery using conventional cyanide methods, while copper flotation from Gap Zone samples yielded 95.2% recovery. These outcomes suggest strong potential for efficient extraction and processing, enhancing the project’s economic viability.

Strategic Moves and Corporate Developments

Sunshine Metals also completed the sale of its Triumph Gold Project to Dart Mining NL for $2 million, receiving cash and shares that now make Sunshine a nearly 14% shareholder in Dart. This divestment allows Sunshine to concentrate resources on advancing Ravenswood.

In governance, the appointment of Joanne Bergamin as a Non-Executive Director brings seasoned expertise in communications and sustainability, critical for stakeholder engagement and progressing commercialisation efforts at Ravenswood.

Looking Ahead

With a solid cash position of approximately $1.5 million and a busy exploration calendar ahead, including geophysical survey results and drilling at Tigertown, Sunshine Metals is poised to build on its recent successes. The company’s focus on high-grade, shallow mineralisation amenable to both open pit and underground mining scenarios positions it well for future resource growth and value creation.