# SHN: Drilling commences at Burdekin Veins, Sybil Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154393 Publisher: asx Original announcement: 2026-10-19T21:48:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-19T22:21:50.515Z Atlas analysis updated: 2026-10-19T22:21:50.515Z - Company: Sunshine Metals Limited - Ticker: SHN - Exchange: ASX - Region: North Queensland - Primary commodity: Gold - Secondary commodities: Antimony - Document categories: Other, Drill results - Extracted: 2026-10-19 22:21:51 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Sunshine Metals Limited has commenced a 28-hole, 2,680m reverse circulation drilling program at its Sybil Epithermal Gold Project in North Queensland. The program will conduct first-pass drilling at the Burdekin Veins and Cisco prospects, which have shown encouraging surface gold geochemistry, and will also follow up on deeper gold targets at Francis Creek East and extensions to the high-grade A Vein at Francis Creek. Results from this drilling are anticipated in November-December 2026. Reasoning: Sunshine Metals has commenced a 28-hole RC drilling program at its Sybil Epithermal Gold Project, targeting high-grade epithermal gold at new prospects \(Burdekin Veins, Cisco\) and extensions at Francis Creek. - Positive factor: drilling\_commenced - Positive factor: targeting\_high\_grade\_mineralization - Positive factor: testing\_new\_targets - Positive factor: following\_up\_encouraging\_results - Negative factor: no\_new\_drill\_results\_reported Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 21 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release states that QA/QC procedures involved Blanks, Field Duplicates and CRMs inserted at a rate of 1 in 10. Evidence · text > The QAQC procedures involved Blanks, Field Duplicates and CRMs inserted at a rate of 1 in 10 **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr Matt Price, a Competent Person and member of AIG and AusIMM, signed off on the exploration results. Evidence · text > Mr Matt Price, a Competent Person who is a Member of the Australian Institute of Geoscientists \(AIG\) and the Australian Institute of Mining and Metallurgy \(AusIMM\). **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The exploration results are reported in accordance with the 2012 Edition of the JORC Code. Evidence · text > defined in the 2012 Edition of the JORC Code **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The document explicitly states that all drilling intercept widths reported are downhole width only, with no true widths reported. Evidence · text > All drilling intercept widths reported herein are downhole width only, with no true widths reported. **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: The previous RC program identified anomalous antimony, which is a deleterious element. Evidence · text > anomalous antimony identified in the previous RC program **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling program targets extensions to the high-grade A Vein mineralisation at Francis Creek. Evidence · text > Francis Creek A-Vein West will be targeted to test extensions to the high-grade A Vein mineralisation **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The Sybil project is described as analogous to the nearby Pajingo epithermal system, a known gold producer. Evidence · text > Sybil is analogous to the nearby Pajingo epithermal system \(~4Moz Au produced\) **Exploration Drilling** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The announcement details the commencement of an RC drilling program targeting high-grade epithermal gold mineralisation at new and existing prospects. Evidence · text > Drilling commenced at Sybil, with a 28-hole, 2,680m reverse circulation \(RC\) drilling program targeting high-grade epithermal gold mineralisation ## Extracted facts Stored fact records: 5. Some facts used in scoring do not have a stored record. ## Drill Results (5) ### 26FCERC006 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d#fact-drill-facts-0) Sybil · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26FCERC006 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 2.36 - Grade Unit: g/t - Intercept: 3 m - From: 15 m - To: 18 m - Intercept Depth: 15 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: 26FCERC006:15-18 - Mining Method: underground #### Location - Location: Francis Creek East - Loc. Source: document #### QA/QC - Laboratory: ALS Townsville - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: antimony #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Historical shallow gold intercept from previous first-pass drilling at Francis Creek East. - Negative factor: apparent\_width\_only - Negative factor: stale\_data Evidence · text > 3m @ 2.36g/t Au from 15m \(26FCERC006\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 26FCERC003 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d#fact-drill-facts-1) Sybil · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26FCERC003 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 5.08 - Grade Unit: g/t - Intercept: 1 m - From: 44 m - To: 45 m - Intercept Depth: 44 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: 26FCERC003:44-45 - Mining Method: underground #### Location - Location: Francis Creek East - Loc. Source: document #### QA/QC - Laboratory: ALS Townsville - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: antimony #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Historical gold intercept from previous first-pass drilling at Francis Creek East. - Negative factor: apparent\_width\_only - Negative factor: stale\_data Evidence · text > 1m @ 5.08g/t Au from 44m \(26FCERC003\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 26FCERC001 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d#fact-drill-facts-2) Sybil · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26FCERC001 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 2.2 - Grade Unit: g/t - Intercept: 2 m - From: 36 m - To: 38 m - Intercept Depth: 36 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: 26FCERC001:36-38 - Mining Method: underground #### Location - Location: Francis Creek East - Loc. Source: document #### QA/QC - Laboratory: ALS Townsville - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: antimony #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Historical gold intercept from previous first-pass drilling at Francis Creek East. - Negative factor: apparent\_width\_only - Negative factor: stale\_data Evidence · text > 2m @ 2.20g/t Au from 36m \(26FCERC001\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 26FCRC031 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d#fact-drill-facts-3) Sybil · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26FCRC031 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 11.11 - Grade Unit: g/t - Intercept: 4 m - From: 62 m - To: 66 m - Intercept Depth: 62 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: 26FCRC031:62-66 - Mining Method: underground #### Location - Location: Francis Creek - Loc. Source: document #### QA/QC - Laboratory: ALS Townsville - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: antimony #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Historical high-grade gold intercept from a recently completed RC program at Francis Creek. - Negative factor: apparent\_width\_only - Negative factor: stale\_data Evidence · text > 4m @ 11.11g/t Au from 62m in 26FCRC031 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### 26FCRC031 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-drilling-commences-at-burdekin-veins-sybil--5f82b512-efa9-4715-b0ab-af89d667743d#fact-drill-facts-4) Sybil · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26FCRC031 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 20.22 - Grade Unit: g/t - Intercept: 2 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Mining Method: underground #### Location - Location: Francis Creek - Loc. Source: document #### QA/QC - Laboratory: ALS Townsville - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: antimony #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Historical bonanza-grade sub-interval from a recently completed RC program at Francis Creek. - Positive factor: bonanza\_intercept - Negative factor: apparent\_width\_only - Negative factor: stale\_data Evidence · text > including 2m @ 20.22g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.