High-Grade Gold Hit at Sybil Raises Questions on Resource Potential and Next Steps

• Record high-grade gold intersection of 4.4m @ 57.51g/t Au at Sybil
• First six holes of 14-hole diamond drilling program completed at Francis Creek
• Sybil’s geology closely parallels the nearby 4Moz Pajingo epithermal system
• Remaining drill assays anticipated in early November 2025
• Drilling provides critical structural and mineralisation insights for future targeting

Record-Breaking Gold Intersection at Sybil

Sunshine Metals Limited (ASX – SHN) has announced a landmark milestone in its ongoing exploration at the Sybil project in Queensland, reporting a record high-grade gold intersection of 4.4 metres at 57.51 grams per tonne. This standout result, from the Francis Creek prospect, is the best ever recorded at Sybil and underscores the significant potential of this largely underexplored epithermal gold system.

The initial phase of a 14-hole diamond drilling program has now delivered assays from six holes, revealing multiple zones of high-grade mineralisation including a remarkable 1.1 metres at 148 g/t gold within the broader intersection. These shallow intersections, starting from just 23.6 metres depth, are particularly encouraging for the prospect’s economic viability.

Geological Insights and Exploration Context

The drilling program, the first at Sybil in over two decades, is designed to refine the geological model by providing detailed information on vein orientation, thickness, and textures. Sunshine’s Managing Director, Dr Damien Keys, highlighted the striking similarities between Sybil and the nearby Pajingo epithermal system, which has produced approximately 4 million ounces of gold. The presence of classic epithermal vein textures such as colloform and crustiform quartz-adularia veins, along with mineral associations indicative of the boiling zone, supports the prospect’s high-grade potential.

Beyond the headline intersection, the program has identified a newly interpreted splay vein structure between the main veins, routinely intersected in drilling, which may represent additional mineralisation pathways. The ongoing drilling is expected to further delineate these structures and guide future targeting efforts.

Broader Project and Upcoming Catalysts

Sybil forms part of Sunshine Metals’ Ravenswood Consolidated Project, a portfolio rich in gold and base metals with a history of significant production. The company has rapidly advanced Sybil since acquisition, digitising extensive historical data and integrating it with new drilling results. Sunshine is also progressing other key initiatives, including a mining study at Liontown Au and resource upgrades, with several milestones slated for the coming months.

Final assay results from the remaining seven holes of the Sybil drilling program are expected in early November 2025. These will be critical in confirming the extent and continuity of mineralisation and may pave the way for resource estimation and development studies.

A Promising Chapter for Sunshine Metals

Sunshine Metals’ latest drilling success at Sybil not only validates the prospect’s potential but also reinforces the company’s strategic focus on high-grade, underexplored epithermal systems. As the market awaits the full suite of assay results, the company’s methodical approach to geological modelling and exploration bodes well for unlocking further value in this emerging gold district.

Bottom Line?

Sunshine Metals’ record intersection at Sybil sets the stage for a pivotal phase of exploration and potential resource growth.

Questions in the middle?

• Will the remaining drill holes confirm the continuity of high-grade mineralisation at Sybil?
• How might the new structural interpretations influence future drilling targets and resource estimates?
• What are the implications of Sybil’s similarities to Pajingo for Sunshine Metals’ development strategy?