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The latest announcement is out from Sunshine Gold Ltd ( (AU:SHN) ).
Sunshine Metals has begun a 41-hole, 2,777-metre resource definition drilling program at the high-grade Liontown Gold Panel in Queensland. The gold-dominant horizon, sitting about 200 metres east of the proposed open pit, currently hosts a resource of 247,000 tonnes at 7.35 grams per tonne gold and 11 grams per tonne silver, for 58,200 ounces of gold and 87,000 ounces of silver.
The campaign aims to lift resource confidence within the upper two planned underground levels, generate additional metallurgical data ahead of potential mining and test for extensions to the orebody. Results from a recent shallow open-pit grade control program are due in March, with an upgraded shallow gold resource and updated mining study targeted for April, underscoring Sunshine’s push toward production at Liontown.
The most recent analyst rating on (AU:SHN) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Sunshine Gold Ltd stock, see the AU:SHN Stock Forecast page.
More about Sunshine Gold Ltd
Sunshine Metals Limited is an Australia-based mineral exploration and development company focused on gold and silver assets in Queensland. Its flagship activity includes advancing the Liontown deposit within the Ravenswood Consolidated Project, located near existing mines, infrastructure and the regional mining hub of Charters Towers.
Average Trading Volume: 9,323,741
Technical Sentiment Signal: Buy
Current Market Cap: A$100.5M
For an in-depth examination of SHN stock, go to TipRanks’ Overview page.