Sunshine Gold Confirms Copper-Molybdenum System at Titov

ASX-listed materials company Sunshine Gold (SHN) hosts a large-scale copper-molybdenum system at the Titov property in Ravenswood West. Eight reverse circulation holes were drilled on the property over a length of 1,500 metres, with assay results from the first two holes already available. The company says assay results confirm a massive vein and alteration system with associated pyroxene and chalcopyrite recorded over a wide interval.

SHN said it will maintain its momentum at Titov with geophysical surveys, diamond drilling and soil sampling in November. The project is designed to evaluate the potential for gold and silver mineralization within the copper-molybdenum mineralized zone.

A 15-hole (1,830 m) program of exploration was completed at Keans Cu-Mo-Au-Ag on October 17, 2021. Drilling tested a suite of outcropping quartz sulfide veins and geophysical targets. Drilling intersected discrete veins with chlorite-sericite-alteration halos. Some of the veins are rich in sulphides, particularly in holes drilled near historic gold mines.

Results from the first two holes include 121 meters at 0.35% copper, 0.11% molybdenum and one meter at 1.99 g/t silver. The company said the assay results confirm a large scale vein and alteration system. Quartz veins, intense chlorite-sericite-sericite-alteration and associated pyroxene and chalcopyrite were also recorded over a large area in all eight holes.

Damien Keys, Managing Director of Sunshine Gold, said, "We are encouraged by the potential of Titov, having identified the potential of a large-scale copper-molybdenum system, dipping the mineralized zone to the south and collecting a full suite of geochemical data.

"We will maintain momentum at Titov and commence geophysical surveys, diamond drilling and soil sampling in November 2021." Meanwhile, the first round of reconnaissance drilling at the Keans property saw 15 holes drilled over 1,830 meters. The company said the project has intersected significant mineralization in the form of discrete quartz, chalcopyrite-pyrite veins in several holes.

Mo is a silvery metal with the sixth highest melting point of all elements, it can withstand extremely high temperatures and is highly resistant to corrosion. Mo is an excellent alloy for the steel because of its strength and high melting point, which preserves and protects steel from corrosion, embrittlement and decay.

Molybdenum is used primarily as an alloying agent for stainless steel, but also in the manufacture of aircraft components and industrial motors. Molybdenum is typically present in porphyry or silica deposits in amounts of 0.01% to 0.25% and is usually associated with larger copper and tungsten deposits. China is the world's largest consumer of molybdenum.

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