• Diamond drilling commenced at Sybil with multiple classic epithermal veins intersected
• Liontown studies advancing with metallurgy underway and Resource update and mining studies progressing
• $5.0m placement with Lion Selection investing $1.0m, increasing their shareholding to 9.2%

Sunshine Metals Ltd has reported on its quarterly activities, with key highlights including the commencement of diamond drilling at the Sybil project, where multiple classic epithermal veins were intersected. At the Liontown project, studies are advancing, with metallurgy underway and Resource update and mining studies progressing to support shallow gold development options. The company also commenced a 650m diamond hole at Liontown North, funded by a Queensland Government Collaborative Exploration Incentive grant, to test a coincident induced polarisation and electromagnetic response. Drilling at the Plateau and Salla prospects also provided encouraging results. Financially, the company completed a $5.0 million placement, with Lion Selection Group Ltd investing $1.0 million and increasing their shareholding to 9.2%. The company also announced board changes, with the appointment of Fred White as a Non-Executive Director and the resignation of three Western Australian-based Non-Executive Directors, as the company transitions to a predominantly Queensland-based board.