Sunshine Gold Limited (ASX:SHN) has confirmed the large-scale system potential of the Keans Prospect at its Ravenswood West Project in north Queensland after mapping high- grade Cu-Mo-Ag around 350m west of drilled mineralization.
Highlights
• Mapping has extended the high-grade Cu-Mo-Au-Ag mineralization at the Keans prospect (SHN 100%). Vein-hosted and disseminated mineralization was mapped and sampled ~350m west of previous drilling. Rock chip results include:
o 7.50% Cu, 0.13% Mo, 12.3g/t Ag, 0.14g/t Au, (KN23_003)
o 5.60% Cu, 0.24% Mo, 106g/t Ag, 0.62% Pb, 0.12% Sb (KN23_002)
• The nearest drill holes to this mineralization (drilled 2021), also intercepted high-grade Cu-Mo-Au- Ag, including:
o 12m @1.43% Cu, 0.03% Mo, 33.07g/t Ag (from 81m, 21KNRC004)
Incl. 3m @4.11% Cu, 0.07% Mo, 120.27g/t Ag (from 89m, 21KNRC004)
o 4m @0.41% Mo, 5.56g/t Ag (from 21m, 21KNRC005)
o 6m @0.49 % Cu, 0.09 % Mo, 2.06g/t Au, 4.96g/t Ag (from 51m, 21KNRC006)
Incl. 2m @1.03% Cu, 0.20 % Mo, 6.02g/t Au, 12.59g/t Ag (from 55m, 21KNRC006)
o 1m @0.44% Cu, 0.10 % Mo, 2.29g/t Au, 5.63g/t Ag (from 41m, 21KNRC006)
o 1m @0.40% Cu, 0.04% Mo, 1.12g/t Au, 14.13g/t Ag (from 44m, 21KNRC006)
“Mapping has confirmed an extension of the mineralized vein network at Keans. High-grade Cu-Mo-Ag results have been returned from rock chips indicating that Keans has the potential to be a large-scale system,” Managing Director, Dr Damien Keys, said.
“Interestingly one sample also returned anomalous Pb and Sb with high-grade Ag, which are all pathfinders to gold in the district.”
Mapping and sampling has focussed to the south-west of reverse circulation (RC) holes drilled in 2021. Sporadic granodiorite outcrop is found throughout the mapped area, with quartz- sulphide veining common. Copper mineralization occurs as both vein hosted chalcopyrite- malachite (lesser azurite) and disseminated chalcopyrite amongst the granodiorite. Molybdenite, silver and gold are associated with quartz veining with associated chlorite-sericite alteration.
A 15-hole (1,830m) reconnaissance programme was completed at the Keans during October 2021. The program tested a suite of outcropping quartz–sulphide veins and geophysical targets. The drilling intersected discrete veins with chlorite–sericite alteration haloes. The veins contained abundant sulphide, particularly near the historic gold mines (Shaft A and Heuirs Shaft).
Porphyry drilling programme planned for June 2023 quarter
These latest results will be incorporated into the regional geological model and used for drill hole targeting. Drilling at Keans will be incorporated into a broader programme planned at various prospects at Ravenswood West during 2023.
For further information please visit: https://shngold.com.au/
