Sunshine Metals has launched an advanced scoping study targeting 95,000 ounces of gold and 652,000 ounces of silver at its Liontown project in North Queensland. The study aims to optimise extraction from multiple high-grade resource domains, with metallurgical test results expected in August 2025.
- Advanced scoping study underway for 95koz gold and 652koz silver at Liontown
- Study covers shallow inferred gold, Carrington Fresh indicated, and Au-Panel resources
- Metallurgical test work in progress to upgrade inferred resources to indicated
- Study completion targeted for January 2026
- Mining lease applications and environmental approvals pending
Liontown Au Study – A Strategic Step Forward
Sunshine Metals Limited (ASX – SHN) has initiated an advanced scoping study focused on optimising the extraction of a substantial gold and silver resource at its Liontown project, part of the broader Ravenswood Consolidated Project in North Queensland. The study, dubbed the "Au Study," targets approximately 95,000 ounces of gold and 652,000 ounces of silver contained within 712,000 tonnes of mineralised material averaging 4.15 grams per tonne gold and 28.5 grams per tonne silver.
This resource is distributed across several domains, including the shallow inferred gold zone, the Carrington Fresh indicated resource beneath it, and the Au-Panel, which includes both indicated and inferred categories. Notably, metallurgical test work currently underway is expected to upgrade the shallow inferred resource to an indicated classification by August 2025, enhancing confidence in the resource's commercial viability.
Resource Details and Geological Context
The shallow gold and Carrington Fresh domains lie within granted Mining Lease ML 10277, while the Au-Panel is situated on a mining lease application. Historical drilling has revealed impressive gold intersections within the Au-Panel, including intervals of 17 meters at 22.05 g/t Au and 20 meters at 18.21 g/t Au, underscoring the high-grade nature of the deposit.
Importantly, the Au Study resources represent only about 12% of the total polymetallic resource at Liontown but account for roughly 35% of the contained gold. Accessing these gold-rich zones is expected to facilitate future mining of the broader polymetallic resource, which includes copper, zinc, lead, and silver.
Commercialisation and Next Steps
Sunshine Metals' Managing Director, Dr Damien Keys, expressed enthusiasm about expanding the scope of the study to include additional high-grade gold sources. He highlighted the proximity of the fresh mineralisation zones to the shallow oxide gold, which forms the basis of the commercialisation strategy. The company has already dispatched metallurgical samples and is progressing mine design and approvals, aiming for a swift commercial outcome.
The Au Study is scheduled for completion in January 2026, with metallurgical results expected in August 2025. Concurrently, Sunshine Metals plans to advance fieldwork and drilling at other prospects within its portfolio, including the Sybil gold system and the Mt Pleasant target, signaling a busy period ahead.
Broader Project and Environmental Considerations
The Liontown project is part of Sunshine Metals' extensive Ravenswood Consolidated Project, which hosts significant polymetallic resources with strong potential for expansion. The company holds granted mining leases and applications covering the resource areas, with no known impediments to tenure security. Environmental approvals and rehabilitation plans are in progress, particularly concerning legacy mining infrastructure.
Sunshine Metals also acknowledges the traditional landowners, the Jangga People, and maintains commitments to responsible mining practices. The company’s methodical approach to resource estimation, metallurgical testing, and environmental management positions it well for advancing the Liontown project towards production.
Bottom Line?
With metallurgical results imminent and a clear path to commercialisation, Sunshine Metals’ Liontown Au Study could redefine the project’s value proposition in 2026.
Questions in the middle?
- Will the metallurgical test results confirm the upgrade of inferred resources to indicated status as expected?
- How will the company navigate environmental approvals and mining lease applications to maintain project momentum?
- What are the prospects for integrating additional gold zones like Plateau and Sybil into future studies?