Sun Silver spots high-grade silver outside current resource in Nevada

Sun Silver assays highlight growth potential beyond its current 195.7Mt resource at Maverick Springs.

The Maverick Springs project has also returned 615.73ppm antimony. Pic: via Getty Images

• Sun Silver reports up to 70g/t silver equivalent at Maverick Springs project

• Assays highlight mineralisation outside the existing resource area

• Results will be added to an updated resource estimate early next year

 

Special Report: Sun Silver has spotted a 70g/t silver equivalent assay outside of the current resource from inaugural drilling at its Maverick Springs project in Nevada, USA, highlighting potential for a future extension.

In particular, drill hole MR24-198 returned a thick intercept of 50m of silver and gold mineralisation grading 70g/t silver equivalent (43.9g/t silver, 0.311g/t gold), including a high-grade zone of 3.05m at 423g/t silver equivalent (398g/t silver, 0.293 g/t gold).

Notably, this step-out drill hole is around 220m from historical drilling, which confirms that mineralisation continues outside the existing mineral resource of 195.7Mt grading 40.25g/t silver and 0.32g/t gold for 253.3Moz of contained silver and 2.0Moz of contained gold.

Plus, antimony was intercepted, with hole MR24-198 returning up to 615.73ppm from 294.13m, with SS1 continuing to assess the project’s antimony potential.

Resource update coming early next year

The company is confident that, with recent spot prices for gold at US$2,650 and silver at US$31.20, both elements referenced in the silver and gold equivalent calculations have a reasonable potential of being recovered and sold.

The next step, once all results are in, is to update the resource estimate early next year to include these assays from the north-western sector of the project.

“Our lab results continue to deliver consistently higher-grade and thicker intercepts than the current mineral resource average in the north-west zone,” Sun Silver (ASX:SS1) executive director Gerard O’Donovan said.

“This bodes well for future drilling and is expected to make a significant contribution towards a revised mineral resource estimate in the near future.”

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.

Originally published as Sun Silver spots high-grade silver outside current resource in Nevada