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Sunshine Gold Ltd ( (AU:SHN) ) just unveiled an announcement.
Sunshine Metals has reported strong final assay results from a 30-hole resource definition drilling program at the Liontown Gold Panel within its Ravenswood project, including standout intercepts such as 22 metres at 20.25 grams per tonne gold. The program is designed to upgrade and extend the existing high-grade underground resource, which currently stands at 247,000 tonnes at 7.35 grams per tonne gold and 11 grams per tonne silver, and will feed into a revised resource estimate due in the June 2026 quarter.
These new results are expected to support an updated Liontown Mining Study starting in June 2026 and further underpin Sunshine’s plans to utilise the Mt Moss processing facility for anticipated gold production from 2027. To fund the Mt Moss acquisition and project advancement, the company is conducting a $22 million capital raising, including a Share Purchase Plan of up to $3 million open to eligible shareholders until 22 May 2026, signalling a key step toward transitioning from explorer to producer.
More about Sunshine Gold Ltd
Sunshine Metals Ltd is an Australian gold and base metals explorer and developer listed on the ASX, focused on the Ravenswood Consolidated Project in North Queensland. The company is advancing high-grade gold resources at the Liontown Gold Panel as part of a proposed underground mining operation, while also integrating the recently acquired Mt Moss processing facility to support future production.
Average Trading Volume: 6,979,578
Technical Sentiment Signal: Buy
Current Market Cap: A$96.85M
See more insights into SHN stock on TipRanks’ Stock Analysis page.