Sunshine Gold Limited has identified a potential intrusion related gold system analogous to nearby major gold mines after receiving complete assays for its recent diamond drill hole program at its Ravenswood West Project in north Queensland. Elevated Au-Cu-Pb-Sn-Zn and W-Te-Mn-V zones provide vectors to potential high-grade gold mineralisation at the Wilbur's Hill Prospect, located 10km west of the 1-million-ounce Mt Wright Gold Mine, part of Queensland's largest gold mine at Ravenswood. The prospect is located on the Boori Lineament, a highly prospective gold corridor which extends from Mt Wright to the Mt Leyshon Gold Mine (3.5 Moz Au). Two diamond holes (22WHDD001 and 22WHDD002) were drilled at Wilbur's Hill (1,318m) in late
2022. The holes targeted an intrusion related gold system as seen at the nearby major gold mines at Mt Leyshon (3.5 Moz Au) and Mt Wright (1 Moz Au). Wilbur's Hill was targeted on coincident: strong Induced Polarisation (IP) chargeability anomaly; deep IP and MT resistivity low; mapped rhyolite volcanic complex; and elevated Au, Ag, Bi, Cu, Mo, Te, Pb and Zn in soils. Drilling intercepted: 1m @ 0.31 g/t Au, 13.7 g/t Ag and 0.77% Cu from 68m; and 1m @ 0.19 g/t Au, 4.1 g/t Ag and 0.33% Cu from 125m (22WHDD001); 480m interval of >3% pyrite, including 70m >5% pyrite (22WHDD001); and 67m interval of >2% pyrite and a 36m interval of >3% pyrite (22WHDD002); intense magnetite alteration (22WHDD002); multiple zones of rhyolite, locally brecciated or flow banded; and geochemical evidence for a strongly zoned intrusion related gold system. A key feature of a breccia pipe associated, intrusion related gold systems is the small size of the orebody relative to the overall host breccia pipe. At Mt Leyshon the orebody occupies 25% of the host while Mt Wright is 30%.