Sunshine Metals Launches Airborne Survey Ahead of Sybil Drilling Campaign

Airborne Survey Targets Structural Blueprint of Sybil

Sunshine Metals (ASX:SHN) has commenced a 2,079 line-kilometre helicopter-borne magnetic and radiometric survey over its Sybil low-sulphidation epithermal gold project in northeast Queensland. This marks the first detailed airborne geophysical survey across the project area, covering all priority prospects including Francis Creek, Francis Creek East, Blue Range, and Quartz Ridge.

The survey utilises a caesium vapour magnetometer and gamma ray spectrometer flown at a low 35-metre terrain clearance to maximise data resolution. Sunshine aims to delineate the stratigraphic and structural framework controlling gold mineralisation, a critical step in refining drill targets and guiding future exploration.

Drilling Set to Test High-Grade Targets Including Untested Francis Creek East

Drilling at Sybil is scheduled to commence in late June 2026, with Sunshine preparing to test extensions along strike from its October 2025 program at Francis Creek, which delivered standout intercepts such as 4.4 metres at 57.51 grams per tonne gold from 23.6 metres.

Notably, Sunshine will undertake the first-ever drilling at the Francis Creek East prospect, located 1.7 kilometres east of Francis Creek. Surface quartz veins here have returned rock chip assays up to 23.4 grams per tonne gold. The Blue Range prospect, 6 kilometres north of Francis Creek, will also be drilled, having yielded rock chip samples up to 20.4 grams per tonne gold.

Exploration Momentum Backed by Recent Capital Raises

The airborne survey and upcoming drilling form part of Sunshine’s broader exploration push across its Ravenswood Consolidated Project, which includes the recently acquired Mt Moss processing facility. The company is well funded following a $19 million placement and a $7.6 million Share Purchase Plan, providing ample runway to accelerate activities.

Sunshine’s Managing Director Dr Damien Keys highlighted the importance of the heli-mag survey in understanding the epithermal system’s controls, stating it will enable better targeting of mineralisation extensions and identification of covered targets. The company has also made progress on cultural heritage surveys and reconnaissance at new prospects such as Burdekin Veins and Douglas Creek.

Historical Context and Project Potential

The Sybil Project sits within the Sybil Graben, a geological setting analogous to the nearby Pajingo epithermal system that has historically produced around 4 million ounces of gold. Exploration at Sybil has been sporadic over the past two decades, with Sunshine now stepping in to apply modern techniques and focused drilling to unlock its potential.

Historical drilling and rock chip sampling have returned impressive grades, including multiple high-grade intercepts at Francis Creek and rock chips exceeding 900 grams per tonne gold. These results underpin the rationale for the current exploration campaign and the first drilling at Francis Creek East.

Upcoming Milestones and Broader Project Activities

Alongside the Sybil survey and drilling, Sunshine plans a shallow gold resource upgrade and updated mining studies at its Liontown project in June. The Mt Moss camp is set to open imminently, supporting processing activities and further development. Engineering and construction works at Mt Moss are slated for completion between July and October 2026.

This flurry of activity reflects Sunshine’s strategy to advance multiple Queensland projects simultaneously, leveraging recent capital inflows to build scale and value.