Breaking News: Has Sunshine Metals Struck Gold? High-Grade Intersections Confirm Liontown Feeder Zone

Exciting Discovery Unveils Potential Gold-Rich Feeder Zone at Liontown Prospect by Sunshine Metals Limited

Multiple High-Grade Intersections Validate Conceptual Target

Ravenswood Consolidated Project, North Queensland - In a groundbreaking development, Sunshine Metals Limited (ASX:SHN) has recently intersected multiple high-grade gold zones at their Liontown prospect. These zones are believed to be gold and copper-rich feeder zones underlying the substantial zinc-gold-copper Volcanogenic Massive Sulphide (VMS) Resource. This discovery comes as a result of a new geological model for Liontown, which has identified a potential gold-rich feeder zone known as the Main Feeder.

Exceptional Assay Results Validate the Main Feeder Concept

The first hole drilled into the Main Feeder zone, labeled 23LTRC002, yielded exceptional assay results, providing unequivocal validation for the new concept. Notable results from this hole include:

2m @ 8. 99 g/t Au from 20m (23LTRC002)
1m @ 4. 54 g/t Au from 42m
17m @ 22.

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14 g/t Au from 67m
(Including 6m @ 58. 74 g/t Au from 68m)

These extraordinary intersections indicate the presence of significant gold mineralization and further support the existence of the Main Feeder zone.

Promising Second Hole with Rushed Assays

A second hole, 23LTRD001, was drilled 30m west of 23LTRC002, contributing to the exploration efforts at Liontown. The core from this hole exhibits strong foliation and contains ample barite veining, as well as disseminated pyrite, chalcopyrite, and sphalerite. This section, spanning from 60. 0m to 129. 2m, will be rapidly analyzed for assays, providing crucial insights into the potential mineralization of this area.

Expanding the Exploration Efforts

Building upon the initial success at Liontown, Sunshine Metals has initiated the drilling of an additional ten Reverse Circulation (RC) holes. This extensive drilling program will focus on testing both the feeder and footwall lodes, projected to contain copper-gold rich segments of the VMS system. Assay results from these holes are expected to be available in December 2023.

Identification of Additional Feeder Zones

In a significant development, the new geological model utilized by Sunshine Metals has successfully identified two more potential feeder zones. These feeder zones are situated near the historic Carrington Main Shaft and the under-drilled Gap Zone. A detailed exploration effort will be undertaken to fully assess the resource potential of these newly discovered areas.

Sunshine Metals' Managing Director Praises Geological Team

Sunshine Metals' Managing Director, Dr Damien Keys, expressed his satisfaction with the recent breakthrough at Liontown. He commended the geological team for their meticulous work, stating, "The stunning intercepts at Liontown are a great reward for the solid geological work completed by the team. The decision was made to target the gold-copper rich footwall and feeder zones to the Liontown Resource with a high-impact, shallow RC program. The feeder zones have not been recognized by past explorers and are often difficult to target. "

This remarkable discovery has elevated the Liontown prospect to new heights, and investors are eagerly anticipating the upcoming assay results. With a potential gold-rich feeder zone confirmed, Sunshine Metals Limited continues to lead the charge in uncovering North Queensland's hidden mineral treasures.

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