공고 • Aug 13
Sunshine Metals Limited Update at Lighthouse
Sunshine Metals Limited reported that the Lighthouse farm-in tenements, part of the Ravenswood Consolidated Project near Charters Towers in Queensland, have potential for a large, shallow gold system after rock chipping and soil sampling returned encouraging results and correlated well with ground magnetics data. An extension to the successful ground magnetic survey at Double Event will commence in September 2024. The survey is planned to incorporate the Lower Lighthouse and Bluff Creek prospects where, soil sampling and further mapping will refine targets before drilling commences in October 2024. Lighthouse is situated ~20kms SE of Charters Towers in North Queensland. Sunshine has the right to earn up to a 75% interest in Lighthouse by spending up to $2.2m over 3 years. Lighthouse is highly prospective for Charters Towers style gold mineralisation with limited historic production (pre-1910) of 1,889 tonnes for 1,744oz @ 28.72 g/t Au (Levingston, 1974). Double Event is located within the Ravenswood Granodiorite Complex. Gold is contained within laminated quartz veins containing elevated lead and silver, similar to mineralisation at the Charters Towers Gold Mine (7M oz Au produced). High-resolution ground magnetic surveys have identified a strong spatial association between mineralisation and linear zones of low magnetic response. The linear zones of low magnetic response likely reflect magnetite-destructive hydrothermal fluid flow during the gold mineralising event. Sunshine recently completed field mapping and sampling programs at Double Event, assessing the zones of low magnetic response. The program returned encouraging rock chip and soil sample results with 7 of 13 samples reporting high-grade Au/Ag results: 32.7 g/t Au, 31.2 g/t Ag, 1.18% Pb (DE24_001), 25.9 g/t Au, 35.7 g/t Ag, 2.32% Pb (DE24_011), 23.5 g/t Au, 28.1 g/t Ag (DE24_007), 22.5 g/t Au, 30.4 g/t Ag, 1.61% Pb (DE24_008), 15.95 g/t Au, 20.4 g/t Ag, 2.90% Pb (DE24_004), 6.32 g/t Au (DE24_006), 3.1 g/t Au (DE24_010). The sampling and mapping identified that: high-grade mineralisation remains open over >3.5km of strike length; veins show continuity beneath shallow cover; several veins remain untested by drilling; and
multiple, near-surface, high-grade veins are present within a 3.5km x 1km area at Double Event. Historic drilling at the Double Event is limited to shallow RC holes (53 holes, 2,502m, 47m avg. depth) testing only small portions of two individual quartz veins. The limited historic drilling has returned high- grade intervals, including: 2m @ 13.19g/t Au from 24m (LTR08), 6m @ 5.4 g/t Au from 27m (BDE023), 2m @ 3.98 g/t Au from 39m (BDE007), 5m @ 3.88 g/t Au from 31m (LTR024). Lower Lighthouse consists of four principal parallel, east-west trending, narrow quartz-sulphide vein sets cutting through the granodiorite. The veins are defined by a series of old workings which run over a strike length of 600-800m. A total of 17 reverse circulation holes have historically been drilled at Lower Lighthouse (663m, 39m avg. depth). Significant intercepts include: 2m @ 6.33g/t Au from 12m (PLR-1), 4m @ 1.42 g/t Au from 32m (PLR-9). Bluff Creek features a series of shallow pits along four east-west trending vein sets. Historical rock chip samples from quartz with pyrite collected from mullock heaps showed values between 12.7 g/t Au and 47 g/t Au. In outcrop, the veins form a complex cross-cutting system over a strike length of ~100m. A detailed magnetic survey is planned to map and extend the vein network further under shallow cover. A total of 10 reverse circulation holes have historically been drilled at Bluff Creek (402m, 40m avg. depth). Significant intercepts include: 4m @ 5.91 g/t Au from 16m (BCP005), 4m @ 3.92 g/t Au from 32m (BCP008), 4m @ 1.03 g/t Au from 16m (BCP007).