Some statements from todays announcement:"The result is a series...

Some statements from todays announcement:

"The result is a series of compelling drill targets that are of similar size and nature to those that lead to the discovery of the nearby Highway-Reward Cu-Au massive sulphide pipes. Highway-Reward (2.7km south of Coronation) produced 3.9Mt @ 5.4% Cu and 1.1g/t Au: a deposit style worth pursuing!"

"Coronation is a clear analogue for Highway-Reward which produced 3.9Mt @ 5.4% Cu, 1.1g/t Au"

3.9 million tonnes of ore produced doesn't sound like much but this equates to 210,000 tonnes of copper and 138,000 ounces of gold. Which at current prices gives:

210,000 x $12,700 = $2,667,000,000 or $2.6 billion of copper metal produced
138,000 x $2900 = $400,000,000 or $400 million of gold metal produced

Given the high grade the profit levels must have been very high at Highway-Reward.

The oxide gold and supergene ore cap at Highway-Reward led to finding the deeper sulphides ore bodies at depths from 100-300m.

If Sunshine can show the Coronation prospect is of a similar grade and tonnage to Highway-Reward then we are going to have a major share price rise.

I think all 5 make good targets but I like CorG3 because of the gravity anomaly and the copper soil anomaly. The copper soil anomaly is just to the north of the gravity anomaly and it would be great to drill enough holes to check it out properly. Three holes per prospect x 200m average depth = 3000m of drilling. Similar amount at Cougertown and Tigertown giving a programme of 6,000m? Plus whatever is required at Liontown to expand the JORC Resource.

The existing JORC Resource at Liontown of 4.94 million tonnes at 12% zinc equivalent (AUD$3700/t Zn) is equal to $2.19 billion contained metal.
NOTE: not mineable reserve number which is lower because you don't get 100% of the ore or 100% of the metal in the ore you do mine - also this does not mean that you will make a profit because it does not consider costs.

Liontown JORC contained metal is worth $444/t of ore
Highway-Reward mined figure is now worth $686/t for copper and $67/t for gold = $752/t of ore mined!

These figures give pause for reflection that Sunshine Metals are pursuing potentially company making deposits here.

I still think the Ravenswood area has a few company makers in it too and exploration is still early phase at most prospects except Titov. Triumph has over $200 million in contained gold already, a tenth of the Liontown figure!

DYOR. Not investment advice.