Sun Silver Strikes Massive 132m High-Grade Silver-Gold Zone at Maverick Springs
Sun Silver Limited reports exceptional drilling results from its Maverick Springs Project in Nevada, revealing a standout 132.59m mineralised intercept with high silver-gold grades that surpass current resource averages, highlighting significant growth potential.
- 132.59m intercept at 54.7g/t AgEq including 1.52m at 887.2g/t AgEq
- Multiple thick mineralised zones exceeding current resource widths
- Significant antimony grades up to 4,076.53ppm Sb recorded
- Maverick Springs hosts 423Moz silver equivalent inferred resource
- Drilling focused on north-west area showing robust mineralisation
Exceptional Drilling Results at Maverick Springs
Sun Silver Limited (ASX: SS1) has announced highly promising assay results from its inaugural 2024 drilling campaign at the Maverick Springs Silver-Gold Project in Nevada, USA. The highlight is drill-hole MR24-208, which intersected an impressive 132.59 metres grading 54.7 grams per tonne silver equivalent (AgEq), including a remarkable 1.52 metres at 887.2g/t AgEq. These intercepts are approximately four times the width of the current Mineral Resource average, signalling potential for substantial resource expansion.
The company’s focus on the north-west sector of the project has yielded multiple thick mineralised zones, with holes MR24-209 and MR24-210 returning intercepts of 60.96m at 64.8g/t AgEq and 50.29m at 67.1g/t AgEq respectively. These results underscore the robust and consistent nature of mineralisation in this area, reinforcing Sun Silver’s exploration strategy.
Geological and Metallurgical Context
The Maverick Springs deposit is situated near the prolific Carlin Trend, a globally renowned mining district. Hosting an inferred JORC Mineral Resource of 195.7 million tonnes at 40.25g/t silver and 0.32g/t gold, the project contains approximately 253 million ounces of silver and 2 million ounces of gold, equating to 423 million ounces silver equivalent. The mineralisation is hosted in Permian sedimentary rocks with characteristics of low-sulphidation epithermal Au-Ag deposits, supported by pervasive alteration and sulphide mineral assemblages.
Preliminary metallurgical test work indicates high recoveries for both silver and gold, with up to 97.5% and 95.8% respectively, lending confidence to the economic viability of the resource. The silver-gold equivalency ratio used for reporting is based on conservative metal prices and metallurgical recoveries, ensuring realistic grade representation.
Strategic Implications and Next Steps
Executive Director Gerard O'Donovan highlighted that these thick, high-grade intercepts not only exceed the current resource model but also validate the company’s targeted exploration approach in the north-west area. The results open avenues for resource growth both along strike and at depth, with the deposit remaining open in multiple directions.
Sun Silver plans to continue systematic exploration including geological mapping, geochemical sampling, and further drilling to delineate extensions and refine the resource model. The company’s location in Nevada, rated the top mining jurisdiction globally by the Fraser Institute, adds geopolitical stability to the project’s prospects.
These results position Sun Silver as a compelling player in the silver-gold sector, with a cornerstone asset that could see significant value uplift as exploration advances.
Bottom Line?
Sun Silver’s thick, high-grade intercepts at Maverick Springs set the stage for a potential resource leap that investors will watch closely.
Questions in the middle?
- How will upcoming drilling campaigns further define the extent of mineralisation at Maverick Springs?
- What are the timelines and plans for upgrading the current inferred resource to higher confidence categories?
- How might fluctuating silver and gold prices impact the economic modelling of the Maverick Springs Project?
