Sunshine Metals reported significant progress in north Queensland with high-grade gold intersections at Liontown and Sybil, alongside a $1.225 million acquisition and government grants to accelerate exploration.
- High-grade gold intersections at Liontown with assays up to 121.5g/t Au
- Acquisition of Sybil epithermal gold tenements for $1.225M cash and scrip
- Queensland Government grants totaling $393,795 awarded for exploration
- Broad mineralisation zones intersected at Tigertown and strong rock chip results at Mt Pleasant
- Ongoing metallurgical studies and resource upgrade initiatives at Liontown
Strong Quarter for Sunshine Metals in North Queensland
Sunshine Metals Ltd has delivered a robust quarterly update for the period ending 30 June 2025, highlighting significant exploration and development milestones across its portfolio of gold and base metals projects in north Queensland. The company’s focus on shallow, high-grade gold mineralisation is bearing fruit, particularly at the Liontown and Sybil projects, underpinning its strategy to rapidly advance resources towards potential production.
At Liontown, drilling results confirmed shallow, high-grade gold intersections with assays reaching an impressive 121.5 grams per tonne over 2 metres. The 29-hole reverse circulation program not only provided valuable metallurgical samples but also tightened drill spacing to upgrade resource confidence. This has set the stage for an advanced scoping study targeting 95,000 ounces of gold and 652,000 ounces of silver within oxide and transitional zones less than 50 metres from surface.
Strategic Acquisition and Exploration at Sybil
Sunshine Metals expanded its footprint with the acquisition of the Sybil epithermal gold tenements for $1.225 million, paid partly in cash and partly in shares contingent on milestones. Sybil, located approximately 135 kilometres west of Townsville, is an underexplored high-grade gold system analogous to the nearby Pajingo mine, which has produced around 4 million ounces of gold. Early fieldwork at Sybil’s Francis Creek prospect has confirmed high-grade gold mineralisation extending over 400 metres, with rock chip samples up to 907 grams per tonne. A planned drilling campaign in August aims to further delineate this promising system.
Government Support and Broader Exploration Success
The Queensland Government has awarded Sunshine Metals nearly $400,000 in grants to support innovative exploration at Liontown North and the Coronation region. These funds will facilitate targeted drilling and geophysical surveys, including a detailed helicopter-borne VTEM Max survey to identify new mineralisation zones. Meanwhile, first-pass drilling at Tigertown intersected multiple mineralised horizons with gold and silver grades that warrant follow-up, and rock chip sampling at Mt Pleasant returned assays as high as 64.5 grams per tonne, validating historical high-grade results.
Financial Position and Outlook
Sunshine Metals ended the quarter with a cash balance of approximately $1.9 million, positioning the company to fund its active exploration and development programs. The company’s resource base remains substantial, with a 7.0 million tonne resource at Ravenswood averaging 4.0 grams per tonne gold equivalent. Upcoming milestones include ongoing metallurgical testing and resource upgrades at Liontown, further drilling at Sybil, and continued exploration at Mt Pleasant and Tigertown.
With a clear strategy focused on shallow, high-grade gold targets and supported by government incentives, Sunshine Metals is advancing its projects towards unlocking value in a prolific Queensland mining district.
Bottom Line?
Sunshine Metals’ latest results and strategic moves position it well for resource upgrades and potential production, but upcoming drill campaigns will be critical to sustaining momentum.
Questions in the middle?
- Will the August drilling at Sybil confirm a resource upgrade and support development plans?
- How will metallurgical test results from Liontown influence processing strategies and project economics?
- What potential discoveries could the upcoming VTEM Max survey reveal in the Coronation and Liontown North areas?