Sun Silver’s Maverick drilling reaches finish line with fresh silver grades of 417g/t

Sun Silver’s Maverick Springs delivers up to 417g/t silver equivalent during inaugural drilling
Extensional holes outside the resource boundary return impressive results
Assay results for the remaining drill holes will be progressively received within the next 4-6 weeks

Special report: Sun Silver’s 2024 Maverick Springs drilling campaign is now complete as more silver assay results up to 250m beyond the current resource boundary return thick, high-grade intercepts.

The latest batch of results from extensional drill hole MR24-203 has delivered a stand-out 35.05m at 89.7g/t silver equivalent from 315.47m as well as 6.10m at 329.46g/t from 333.76m.

Extensional drillhole MR24-200 returned 42.67m at 76.8g/t silver equivalent from 245.36m, including 4.57m at 417g/t silver equivalent from 266.7m.

Antimony results also continue to be recorded with assays returning grades up to 5157ppm in MR24-203.

With the inaugural drilling campaign now complete, outstanding assay results for the remaining drill holes are expected to be progressively received within the next 4-6 weeks.

Largest pre-production project on ASX

Shares in Sun Silver are up 50% year-to-date, touching a high of A$1.12 in October. It’s been one of the most successful mining IPOs of 2024, with a current market cap of $61.70m.

The pickings for quality silver exposure on the ASX are fairly slim, but SS1 brought some shine when it closed its IPO early in May after raising the maximum $13m in mere days before surging +170% in its first month on the bourse.

Sun’s advanced Maverick Springs asset in Nevada 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.

The deposit itself remains open along strike and at depth, with multiple mineralised intercepts located outside of the current resource constrained model.

Confidence in growth potential

“Step-out drilling continues to deliver strong results, with hole MR24-203, located 250 metres outside the resource boundary, returning a thick, high-grade intercept with grades up to 329.46 g/t silver equivalent,” SS1 executive director Gerard O’Donovan said.

“The drilling completed in the second half of 2024 has reinforced our confidence in the exceptional growth potential of what is already a globally significant silver project.”

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.