Sunshine Metals Limited (ASX:SHN) has announced a significant upgrade to its 100% owned Liontown deposit, part of the Ravenswood Consolidated Project in Queensland. The Liontown JORC 2012 mineral resource now stands at 2.94Mt @ 10.6% ZnEq, a 21% increase from the previous estimate. The resource also features a 116% increase in the indicated category, which now accounts for 63% of the total.
The upgraded resource reflects the successful drilling campaigns conducted since 2020, especially the first-pass drilling completed in late 2023 that targeted the gold and copper rich zones in the deposit. The Resource now contains 132Koz of gold (a 10% increase) and 29Kt of copper (a 60% increase), enhancing the value and potential of the Liontown deposit.
Sunshine Metals managing director, Dr Damien Keys, said “The extended and upgraded Liontown Resource is a substantial step forward for Liontown. The Resource is based on drilling since 2020 and includes the high-impact, first-pass drilling campaign completed in late 2023. The overall resource has increased 21% and features an impressive 116% increase in the indicated category, now comprising 63% of the Liontown Resource. All of this has been achieved with an increase in grade.”
The Ravenswood Consolidated Project’s total resource now stands at 5.45Mt @ 12.0% ZnEq, a 10% increase from the previous estimate, with the Indicated resource now at 47% of the total. The project comprises the Liontown, Liontown East, and Waterloo deposits, which host high-grade zinc, lead, silver, gold, and copper mineralization.
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