Sunshine Gold to acquire new mine project in Western Australia. Credit: Red ivory/Shutterstock.com.

Australian mining company Sunshine Gold has agreed to acquire 100% of Greater Liontown, located in Western Australia, for A$3.25m ($2.19m).

The company has also agreed to pay an additional $2m ($1.35m) up on reaching production milestones at the mine.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

With the acquisition, Sunshine Gold will now control Greater Liontown along with Ravenswood West project under the new name Ravenswood Consolidated and covers 1,760km² of area.

Located 35kms from Charter Towers and 135km from the company’s Townsville headoffice, the Greater Liontown project is claimed to possess zinc-copper-lead and gold with 4.94 metric tonnes at 12.0% ZnEq.

The Greater Liontown project covers nearly 684km² of area and has 16 tenements. Gold at the location was first discovered back in 1905 at 205m of depth and over a strike length of 280m. It is estimated to have 13,000oz of gold at 10.5g/t.

Sunshine will now control 80% of the highly prospective Mt Windsor Volcanogenic Massive Sulphide (VMS) horizon and ~1,760kms2 of highly prospective gold-copper- gold ground.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Sunshine Gold managing director Damien Keys said: “This is a transformational acquisition for Sunshine. The acquisition consolidates our foothold in the Charters TowersRavenswood district which has produced over 20Moz Au and 14mt of VMS ore (Zn-Cu-Pb-Au). We now control ~80% of the prospective Mt Windsor VMS horizon and 1,760 sq kms of highly prospective Au/Cu-Au ground.

“Previous owners focussed on the VMS base metals potential at Greater Liontown which already comprises a high-grade 4.94mt @ 12.0% ZnEq Resource (32% Indicated). Zinc is a critical mineral and we have plenty of it with strong growth potential in 25 untested Zn-Cu-Pb-Au IP survey targets. The 1.47mt @ 11.0% ZnEq Liontown East Resource was discovered from drilling just 1 of the 30 targets from the IPsurvey.

“Forgotten or overlooked is the Au/Cu-Au potential. The Cu-Au rich Carrington Lode sits in the footwall of the Liontown VMS deposits and presents an under-drilled, immediate Resource extension target. Previous drilling into the Carrington Lode intersected high-grade gold including 3m @ 46.2 g/t Au from 20m and 2m @ 68.6 g/t Au from 24m.”