Sunshine Gold (ASX:SHN) Gets Best Gold Interception Ever at Triumph – The Market Herald
- Drilling at Sunshine Gold’s (SHN) Triumph Project in Queensland yields the company’s best gold intersection to date
- Infill and step-out drilling is underway on the southern corridor portion of the project, with final assays from 44 other drill holes.
- In addition to 16 meters at 8.44 g/t gold, the remarkable intersection also contained several zones of mineralization which SHN says reinforces the stacked nature of the veins.
- Assays are pending for the remaining 13 holes and once received all results will be included in the first JORC resource to be published later this month.
- At the end of the trade, SHN shares were up 6.7% to 4.8 cents
Drilling at Sunshine Gold’s (SHN) Triumph Project in Queensland has yielded the company’s best gold intersection to date.
Infill and step-out drilling is underway in the southern corridor portion of the project to bring the individual targets up to sufficient drilling density for use in an early JORC resource.
The latest assays come from 44 other drill holes completed following the company’s first drilling campaign undertaken in March last year, with initial high-grade results released last month.
The new results pick was 16 meters at 8.44 grams of gold per tonne (g/t) from 38 meters downhole, which General Manager Damien Keys says is the “best intercept drilled by Sunshine Gold to Triumph to date”.
In total assays have now been returned for 67 reverse circulation drill holes which together have outlined a stacked series of parallel veins.
Additionally, Keys said the most recent drill hole also contained nine meters at 13.06 g/t gold from 43 meters, nine meters at 2.97 g/t gold from from surface and two meters at 10.82 g/t gold from 105 meters, reinforcing the stacked nature of the veins.
Four diamond holes were also drilled and confirmed that the southern corridor is open in all directions. This area is expected to remain at the center of JORC Resource’s growth in drilling planned for the middle of this year.
Assays are pending for the remaining 13 infill drill holes which are expected to be received by mid-March.
Sunshine Gold has scheduled the release of the first JORC resource later this month.
At the end of the trade, SHN shares were up 6.7% to 4.8 cents.