Sunshine Metals Hits 4m at 11.11g/t Gold at Sybil, Near Its Mt Moss Plant
Key Takeaways
- Sunshine Metals returned 4m @ 11.11g/t Au from 62m at Sybil, including 2m @ 20.22g/t, from a 66-hole, 4,357m RC program.
- Drilling found a new mineralised shoot on the Main Vein and confirmed mineralisation of roughly 250m on the A Vein, 150m on the C and D Veins and 200m on the Main Vein.
- Francis Creek East's first-ever drilling hit gold, but results were narrow or low-grade, and Blue Range's best intercept was just 1m @ 0.49g/t Au.
- A 2,600m RC program starts mid-October 2026, with first drilling at Burdekin Veins and Cisco and deeper holes testing the boiling zone.
- Sybil's proximity to the Mt Moss plant, targeting first gold next year, links discovery success to a potential resource growth path, with financing and construction updates due Oct-Nov 2026.
Sybil gold project drilling extends footprint with 4m @ 11.11g/t Au
Sunshine Metals (ASX:SHN) has received assays from a 66-hole, 4,357m reverse circulation (RC) program at the Sybil gold project in North Queensland. The best result was 4m @ 11.11g/t Au from 62m (26FCRC031), including 2m @ 20.22g/t Au from 62m.
RC drilling tested three targets: Francis Creek, Francis Creek East and Blue Range. The company said drilling identified a new mineralised shoot on the Main Vein structure and intercepted shallow mineralisation at Francis Creek East.
Why does this matter to you? Sybil is located close to the Mt Moss processing facility, which is currently under refurbishment to achieve first gold production next year. According to management, any discovery success at Sybil has the potential to further grow the resource base.
Dr Damien Keys, Managing Director
“High-grade results from the latest Sybil RC drilling program continue to expand the gold system, reinforcing the project’s potential to emerge as a significant gold discovery.”
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Francis Creek and Francis Creek East results
A Vein, C and D Veins and Main Vein
The Francis Creek program completed 39 holes for 2,734m, including two holes abandoned before reaching target depth. It built on a 14-hole diamond program completed in 2025.
Drilling confirmed mineralisation extending for ~250m on the A Vein, ~150m on the C and D Veins and ~200m on the Main Vein. The A Vein north of the Main Vein remains underexplored.
On the A Vein, drill spacing tightened to 15m-20m to support future resource classification. Tighter spacing gives a clearer picture of how continuous the gold is, which is a prerequisite for any later resource estimate.
| Hole | From | Interval and grade | Vein |
|---|---|---|---|
| 26FCRC031 | **62m** | **4m @ 11.11g/t Au** (incl. 2m @ 20.22g/t Au) | A Vein |
| 26FCRC001 | **20m** | **6m @ 3.76g/t Au** | A Vein |
| 26FCRC018 | **25m** | **5m @ 3.52g/t Au** | A Vein |
| 26FCRC017 | **52m** | **4m @ 2.84g/t Au** | A Vein |
| 26FCRC021 | **25m** | **8m @ 1.82g/t Au** | Main Vein |
The Main Vein result came from very shallow drilling north-west of the A Vein intersection. The company described the Main Vein as fertile in this area.
Francis Creek East, the first-ever drilling
Francis Creek East sits about 1.7km east of Francis Creek. The company described the drilling as the first test of this prospect area, with 20 shallow RC holes for 1,255m.
Results showed narrow, high-grade mineralisation in the west and broader, low-grade mineralisation further east. Key intercepts:
- 3m @ 2.36g/t Au from 15m (26FCERC006)
- 2m @ 2.20g/t Au from 36m (26FCERC001)
- 1m @ 5.08g/t Au from 44m (26FCERC003)
The release lists the 1m intercept as 26FCERC005 in its highlights, but the body text and Appendix B place it on 26FCERC003, which is used here.
At Blue Range, seven holes for 368m intersected veining, but gold mineralisation was limited, with a best intercept of 1m @ 0.49g/t Au from 31m.
How do epithermal gold systems and the “boiling zone” work?
Sybil is a low-sulphidation epithermal gold system. These are gold-bearing quartz vein systems formed near the surface, and the company’s drilling targets them.
The release describes a “Boiling Zone” as the prospective precious metal window within these systems (Figure 5). Elevated antimony is an indication of being “above” that target window.
That is relevant here because the eastern end of Francis Creek East shows elevated antimony relative to the west. The company says this presents a target for deeper drilling, planned for October 2026.
The company also says Sybil is analogous to the nearby Pajingo epithermal system (~4Moz Au produced). For you as an investor, that comparison frames the exploration thesis, though it is not a guarantee of similar results.
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What comes next: drilling and survey extension?
Follow-up drilling is anticipated to start in mid-October 2026. Cultural heritage surveying and design are complete for a 2,600m RC program that will target:
- A Vein west at Francis Creek, with three RC holes
- Deeper holes at Francis Creek East to test the interpreted “Boiling Zone” horizon
- First drilling at Burdekin Veins, with six holes in the North vein and nine in the South vein
- First drilling at the Cisco target, with four RC holes
The company also reported results from the airborne radiometric survey, which maps areas where veining depletes potassium. Rock chips returned 21.6g/t Au at the Pancho Vein and 9.48g/t Au at Cisco.
Follow-up mapping 300m north of Francis Creek East identified a previously unmapped vein that returned 3.11g/t Au (FCE26_006). An extension to the airborne magnetic survey is scheduled to be flown in November 2026.
| Date | Milestone |
|---|---|
| **13-15 Oct 2026** | Australian Gold Conference, Sydney |
| **October 2026** | 2,600m RC drilling at Sybil targets including Burdekin Veins |
| **October 2026** | Mt Moss financing update |
| **Oct-Nov 2026** | Commencement of Mt Moss construction |
| **Oct-Nov 2026** | Commencement of Liontown Base Metal Mining Study |
| **November 2026** | Extension of Sybil magnetic survey |
The company describes a busy period ahead. Drilling, financing, construction and study milestones are all scheduled within roughly the next two months.
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