Sun Silver spots a tasty 887.2g/t silver intercept in Nevada

SS1 flags intercept of up to 887.2g/t at the Maverick Springs silver-gold project
The project hosts 423Moz at 67.25g/t silver equivalent with room to grow
Company says assays highlight growth potential at the project

Special Report: Sun Silver’s inaugural drilling program at its Maverick Springs project in Nevada has delivered the goods, with assays returning up to 887.2g/t silver equivalent.

The company has been one of the most successful mining IPOs of 2024, recording a massive 212% gain on its listing price of 20c in May, hitting highs of $1.12 in October.

Sun Silver’s (ASX:SS1) advanced Maverick Springs asset in the US has a resource of 423Moz at 67.25g/t silver equivalent or 253Moz at 40.25g/t silver, making it the largest pre-production primary silver project on the ASX.

It’s also in Nevada, a globally recognised mining jurisdiction which was rated as the Number 1 mining jurisdiction in the world by the Fraser Institute in 2022 and held second place in 2023, and is surrounded by several world-class gold and silver mining operations including Barrick’s Carlin Mine.

Results include:

132.59m at 54.7g/t AgEq (37.4g/t Ag, 0.182g/t Au) from 181.36m (MR24-208), including 1.52m at 887.2g/t AgEq (869g/t Ag, 0.214g/t Au) from 249.94m
50.29m at 67.1g/t AgEq (42.6g/t Ag, 0.288g/t Au) from 155.45m (MR24-210); and
60.96m at 64.8g/t AgEq (34.7g/t Ag, 0.354g/t Au) from 188.98m (MR24-209).

Significant antimony assay results also continue to be returned, with hole MR24-209 returning grades of up to 4076.53ppm.

The critical mineral, used in defence, solar panels, batteries and flame retardants, has seen its price skyrocket in the past year after China moved to restrict exports to the United States, which is now scrambling to incentivise domestic and friendly supply sources for its military.

Plan map of 2024 drill-hole locations showing notable AgEq intercepts. Pic: SS1

Results reinforce growth potential

SS1’s most recent intercepts continue to exceed the average width of the current resource at the project, with hole MR24-208 returning an intercept around four times the current width.

The company says this highlights the potential for substantial growth at Maverick Springs.

“These impressive results continue to highlight the significant potential of the north-west project area, with intercepts consistently demonstrating exceptionally thick zones of mineralisation in this part of the deposit that well and truly exceed the average width of the current mineral resource,” Sun Silver executive director Gerard O’Donovan said.

“The continued identification of wide, high-grade zones reinforces the growth potential to the north at Maverick Springs and validates our exploration focus.”

The deposit remains open along strike and at depth, with multiple mineralised intercepts located outside of the current resource constrained model, priming SS1 to expand the resource in future drilling programs.

This article was developed in collaboration with Sun Silver, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.