Sunshine Gold Limited (ASX:SHN) has signed a binding Farm-In and Joint Venture agreement with Rockfire regarding Lighthouse, a high quality gold project, in the prolific Ravenswood District (~ 20Moz Au produced) adjacent to Ravenswood West near Townsville in Queensland, Australia.
Sunshine Gold Managing Director, Dr Damien Keys, said the transaction is a win for both parties.
“We are very excited to be partnering with Rockfire at the Lighthouse Gold Project. The deal allows Rockfire to focus on their emerging Molaoi Zn-Pb-Ag-Ge deposit in Greece, while allowing us access to a number of high-quality, advanced prospects adjacent to Ravenswood West,” Dr Keys said.
“Lighthouse further consolidates Sunshine Gold’s holding in the prolific and highly prospective Ravenswood District.
“The initial 50koz Au Resource at Plateau gives Sunshine Gold a second Resource front (with Triumph 118 koz Au Resource) with potential for rapid growth.
“In addition to Plateau, Lighthouse contains a suite of advanced prospects with strong gold and base metals results from soils, rock chips and drilling.
“Field validation of drill targets at Plateau, Double Event- Lighthouse, Cardigan Dam and Horse Creek will commence in January 2023 ahead of first drilling planned for March 2023.
We will build on the solid foundation built by Rockfire at Lighthouse where there is plenty of opportunity to build on the existing Resource base as well as make multiple discoveries.”
Lighthouse adjoins Sunshine Gold’s 100% owned Ravenswood West Project. The consolidated Ravenswood West will comprise ~16% of the exposed Lolworth-Ravenswood Block (~20M oz Au produced).
For further information please visit: https://shngold.com.au/