Plateau Drilling Yields 8m at 3.17g/t Gold; Salla Shows Zinc Potential

Drilling Success at Plateau

Sunshine Metals Limited (ASX, SHN) has announced the completion of a targeted resource infill drilling program at its Plateau gold-silver prospect, part of the broader Ravenswood Consolidated Project in Queensland. The eight reverse circulation holes, totaling 599 metres, confirmed continuity of mineralisation with notable intercepts including 8 metres at 3.17 grams per tonne gold and 31 grams per tonne silver from 61 metres depth. These results align well with previous drilling, reinforcing confidence in the existing resource model.

Importantly, the drilling also provided select metallurgical samples, particularly from hole 25PLRC006, which will be critical for refining processing strategies. Sunshine plans to incorporate these results into an updated resource estimate scheduled for release later in 2025, a key milestone for advancing the project towards commercialisation.

Encouraging Early Signs at Salla

Alongside Plateau, Sunshine conducted first-pass reconnaissance drilling at the Salla prospect, targeting gold, copper, and zinc mineralisation. The three holes drilled over 592 metres intersected broad zones of pyrite and sphalerite mineralisation within a dacite host rock, indicative of potential base metal mineralisation. While the zinc grades were modest, the presence of disseminated zinc mineralisation in hole 25SARC002 is encouraging and suggests proximity to a mineralised system.

Follow-up soil sampling has been completed and will be integrated into the geological model to guide future exploration efforts. This early-stage work at Salla complements Sunshine’s strategy to build a pipeline of targets within the Ravenswood district.

Strategic Focus and Upcoming Milestones

Sunshine’s Managing Director, Dr Damien Keys, emphasised that while the company’s immediate priority remains the commercialisation of shallow gold resources at Liontown and Plateau, advancing exploration at Salla and the Sybil epithermal gold system is vital for long-term growth. The Sybil project, located approximately 135 kilometres west of Townsville, has shown promising epithermal gold mineralisation analogous to the nearby Pajingo mine.

The company has a busy schedule ahead, including updates on Liontown gold studies and metallurgy, further drilling at Sybil, and presentations at key industry conferences such as the Noosa Mining Conference and Resources Rising Stars Conference. These activities underscore Sunshine’s commitment to progressing its portfolio and engaging with the investment community.

Broader Project Context

The Ravenswood Consolidated Project is strategically positioned near established mining infrastructure in the Charters Towers region, an area with a rich history of gold and base metal production. Sunshine’s portfolio includes multiple prospects with varying styles of mineralisation, including volcanogenic massive sulphide deposits and epithermal gold systems, offering diverse opportunities for resource growth.

With a resource base that includes significant gold and zinc equivalent ounces, Sunshine is well placed to leverage its exploration successes into development and potential production. The company’s methodical approach to drilling, sampling, and metallurgical testing reflects a disciplined pathway towards unlocking value.