# SHN: NWR Lunch Investor Presentation Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03150080 Publisher: asx Original announcement: 2026-10-08T00:46:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T01:05:34.717Z Atlas analysis updated: 2026-10-08T01:05:34.717Z - Company: Sunshine Metals Ltd. - Ticker: SHN - Exchange: ASX - Region: North Queensland - Primary commodity: Gold - Secondary commodities: Silver, Copper, Zinc, Lead, Molybdenum - Document categories: Drill results, Other - Extracted: 2026-10-08 01:05:35 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Sunshine Metals presented an investor update highlighting recent high-grade gold RC drilling results at the Sybil epithermal project. The company also detailed the completion of a mining study for the Liontown project and progress on refurbishing the Mt Moss processing facility. Reasoning: The presentation highlights new October 2026 RC drilling results at Sybil alongside a summary of recent project progress and a completed mining study for Liontown. - Positive factor: New high-grade RC drilling results at Sybil - Positive factor: Continued high-grade gold intercepts at Sybil - Positive factor: Expansion of mineralisation footprint at Sybil - Negative factor: Some new intercepts are lower grade than previous historical high-grade hits Facts used in scoring: 6 ## Classification and evidence **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The presentation notes the expansion of the gold mineralisation footprint at Sybil. Evidence · text > Gold Mineralisation Footprint Extended at Sybil **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The presentation mentions upcoming RC drilling at Burdekin, Francis Creek East & Cisco. Evidence · text > Sybil RC drilling - Burdekin, Francis Creek East & Cisco ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### 26FCERC006 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-0) Sybil · gold #### 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 - Sample Type: drill - Group ID: 26FCERC006:15-18 #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: New intercept from Francis Creek East. Evidence · text > 3m @ 2.36g/t Au from 15m, 26FCERC006 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ### FSR070 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-1) Sybil · gold #### Identity - Hole ID: FSR070 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 0.38 - Grade Unit: g/t - Intercept: 68 m - From: 36 m - To: 104 m - Intercept Depth: 36 m #### Classification - Sample Type: drill - Group ID: FSR070:36-104 #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Wide but low-grade intercept at Quartz Ridge. - Positive factor: Significant width - Negative factor: Low grade Evidence · text > 68m @ 0.38g/t Au from 36m, FSR070 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ### FSR070 [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-2) Sybil · gold #### Identity - Hole ID: FSR070 - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 0.55 - Grade Unit: g/t - Intercept: 22 m - From: 0 m - To: 22 m - Intercept Depth: 0 m #### Classification - Sample Type: drill - Group ID: FSR070:0-22 #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Shallow intercept at Quartz Ridge. Evidence · text > 22m @ 0.55g/t Au from 0m, FSR035 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ### unknown [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-3) Sybil · gold Needs review: ungrounded #### Identity - Hole ID: unknown - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 11.11 - Grade Unit: g/t - Intercept: 4 m #### Classification - Sample Type: drill #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: ungrounded - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: New October 2026 RC drilling result. - Positive factor: High grade Evidence · text > 4.0m @ 11.11g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ### unknown [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-4) Sybil · gold Needs review: ungrounded #### Identity - Hole ID: unknown - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 3.76 - Grade Unit: g/t - Intercept: 6 m #### Classification - Sample Type: drill #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: ungrounded - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: New October 2026 RC drilling result. Evidence · text > 6.0m @ 3.76g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ### unknown [Link to this fact](https://atlas-staging.minestarters.com/news/shn-nwr-lunch-investor-presentation--ba67fa93-fd09-4acc-99b0-e0919189f8b1#fact-drill-facts-5) Sybil · gold Needs review: ungrounded #### Identity - Hole ID: unknown - Project: Sybil - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: SHN #### Geometry - Grade: 3.52 - Grade Unit: g/t - Intercept: 5 m #### Classification - Sample Type: drill #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: ungrounded - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: New October 2026 RC drilling result. Evidence · text > 5.0m @ 3.52g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 ## 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.