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Sunshine Metals Limited (ASX:SHN)

ALERT: Price-sensitive ASX Announcement for SHN
Current share price for SHN : $0.027 -0.004 (-12.90%)+
Announcement
Release
16 Jun 2026 8:58AM
Price at Release
$0.031
Full Release
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Summary
Sunshine Metals Limited has commenced a significant 2,079 line-km airborne magnetic and radiometric survey at their Sybil Gold Project in Queensland, aiming to explore and define the geological and structural framework crucial for gold mineralisation. The survey will span various priority prospect areas including Francis Creek, Blue Range, and Quartz Ridge, supporting future exploration and drilling activities. Scheduled to complete data acquisition within days, the survey is part of Sunshine's comprehensive exploration efforts across its Queensland projects, buoyed by recent successful funding rounds totalling $26.6 million. This initiative aligns with ongoing cultural heritage surveys and drilling preparations, reinforcing Sunshine's strategic focus on maximizing resource potential from its project holdings.
Key Points
  • Sunshine Metals Limited commences a 2,079 line-km airborne magnetic and radiometric survey at Sybil Gold Project, Queensland.
  • The survey will cover all priority prospect areas including Francis Creek, Francis Creek East, Blue Range and Quartz Ridge.
  • The aim is to define Sybil’s stratigraphic and structural framework to understand gold mineralisation controls.
  • Drilling is planned to commence at Francis Creek, Francis Creek East and Blue Range in late June 2026.
  • Sunshine is well funded, having raised $19M from a recent Share Placement and $7.6M from a Share Purchase Plan.
  • Data acquisition from the survey is expected to be completed in 4-5 days with processing to follow.
  • Cultural heritage surveys and reconnaissance work at new prospects like Burdekin Veins and Douglas Creek are ongoing.
  • The survey is part of broader exploration activities across the Ravenswood Consolidated Project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.