Sunshine Gold Confirms Titov’s Cu-Au-Ag-Mo System

Sunshine Gold (SHN) reports that assay results from the Titov property confirm the presence of a Cu-Au-Ag-Mo system. The discovery was made after receiving results from the final six reverse circulation (RC) holes of the eight-hole drilling program at Titov, which is part of the Ravenswood West project in Queensland.

SHN said the best results included 10 meters of 1.32% copper at 2.11 g/t silver from 115 meters, including 2 meters of 5.93% copper, 0.13 g/t gold and 6.87 g/t silver from 123 meters; and 18 meters of 0.5% copper, 0.12% molybdenum and 2.89 g/t silver from 38 meters.

Other higher grade molybdenum results include 0.42% copper, 3.02% molybdenum and 3.94 g/t silver from 70 meters. General Manager Damien Keys said the RC drilling program has provided valuable information on the Titov prospect.

We are particularly excited of the confirmation of Cu-Au-Ag-Mo system, and about the areas of high grade copper (up to 5.93%) and molybdenum (up to 3.02%) within the broader mineralized envelope," he said. “In particular, copper grades appear to be increasing to the east and depth of the drill area."

Sunshine Gold has now begun diamond drilling at the Titov prospect, marking the first diamond drilling at the property in over 50 years. One hole is currently at 270 meters, intersecting potassic alteration containing disseminated chalcopyrite and quartz veins containing chalcopyrite and pyromorphite. The hole is planned to be drilled to 500 meters and is expected to intersect the target zone at a depth of 350 meters. At 1:36 p.m. AEDT, SHN shares were up 7.5% and trading at 4.3 cents.

Sunshine Gold Limited is focused on developing high quality gold and copper projects in Queensland. The Company controls 618 square kilometers of highly prospective tenements in three main project areas: the Triumph Gold Project (138 square kilometers, 2 EPMs), the Hodgkinson Gold Project (365 square kilometers, 5 approved EPMs, 1 pending EPM) and the Investigator Copper Project (115 square kilometers, 2 EPMs). The Triumph and Hodgkinson projects contain a suite of prospects ranging from advanced exploration stage to early stage targets.