Sunshine Metals Says Grade Control Drilling at Proposed Open Pit at Queensland Project Returns Shallow, High-Grade Results; Shares Jump 10%

MT Newswires Live

04/20

Sunshine Metals (ASX:SHN) said the grade control drilling program within the proposed Liontown open pit, part of its Ravenswood consolidated project in Queensland, returned shallow, high-grade results, according to a Monday Australian bourse filing.

The company encountered intercepts of 7 meters at 5.9 grams per tonne (g/t) grade of gold from surface and 3 meters at 25 g/t grade of gold from 14 meters.

It also hit an intercept of 14 meters at 12.4 g/t grade of gold from 79 meters during resource drilling at the Liontown Au Panel, a gold-dominant deposit to form part of the proposed underground mine within the recent mining study.

An updated Liontown resource is due in the June quarter, per the filing.

Sunshine Metals shares jumped 10% in recent trading on Monday.

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