LIONTOWN DRILLING EXPANDED ON HIGH-GRADE GOLD AND SILVER HITS

New results deliver record silver grades as Sunshine ramps up drilling at Liontown

Sunshine Metals Limited (ASX:SHN) has announced a major expansion of its drilling program at the Liontown Project in North Queensland following a string of high-grade gold and silver intercepts from recent RC drilling.

The new results come from 30 additional holes targeting the eastern end of the shallow oxide gold resource, part of the broader Ravenswood Consolidated Project. Highlights include:

4m @ 17.65g/t Au & 402g/t Ag from 25m (25LTRC035), including 1m @ 23.2g/t Au from 27m
8m @ 6.16g/t Au & 37g/t Ag from 3m (25LTRC033)
4m @ 9.49g/t Au & 128g/t Ag from 20m (25LTRC032)
2m @ 16.75g/t Au & 52g/t Ag from 17m (25LTRC034), including 1m @ 23.2g/t Au
5m @ 6.92g/t Au & 77g/t Ag from 16m (25LTRC037)

These results form part of a completed 84-hole (3,333m) RC grade control drilling program, with total drilling to date now covering 68 holes (2,657m). Drilling is continuing, with an additional 37 holes (~1,890m) planned to test extensions to the east.

Sunshine also reported the highest silver grades ever recorded at Liontown:

5m @ 0.86g/t Au & 1,870g/t Ag from 33m (25LTRC058)
8m @ 7.31g/t Au & 1,321g/t Ag from 10m (25LTRC052), including 3m @ 6.78g/t Au & 2,410g/t Ag from 13m
2m @ 7.65g/t Au & 1,198g/t Ag from 39m (25LTRC057)

The company says the Liontown Resource currently contains 5.5 Moz of silver at 27.1g/t Ag, with its Gold Mining Study considering 803koz of gold at 31.6g/t Ag.

Sunshine Managing Director Dr Damien Keys
Liontown continues to demonstrate the strength of its underlying mineral endowment, with recent drilling confirming that silver is emerging as a meaningful value driver alongside gold. The scale, grade and shallow nature of the gold-silver mineralisation provide Sunshine with a compelling development opportunity at a time when silver markets are increasingly focused on security of supply.