Sun Silver Strikes High-Grade Silver-Gold and Expands Land at Maverick Springs

Inaugural Drilling Program Delivers Promising Results

Sun Silver Limited (ASX: SS1) has reported a landmark quarter marked by the completion of its inaugural drilling program at the Maverick Springs Silver-Gold Project in Nevada, USA. The 7,724-metre campaign yielded multiple thick and high-grade intercepts, including standout results such as 50 metres at 70g/t silver equivalent (AgEq) and 16.76 metres at 494g/t AgEq, some extending well beyond the current mineral resource boundaries.

Notably, drill hole MR24-199, located outside the existing resource, intercepted 102 metres at 111g/t AgEq, including a high-grade 7.62-metre section at 509g/t AgEq. These results underscore the potential for significant resource growth and highlight the deposit’s open-ended nature along strike and at depth.

Strategic Land Expansion Enhances Growth Prospects

In response to the encouraging drilling outcomes, Sun Silver has strategically expanded its landholding by staking an additional 80 lode claims at Maverick Springs North, increasing the project area by 34% to 6.7 square kilometres. This expansion not only secures prospective ground along the mineralised trend but also provides valuable space for future exploration and potential development infrastructure.

Antimony: A Critical Mineral Opportunity

Beyond silver and gold, the company continues to identify anomalous antimony (Sb) mineralisation, with assays returning grades exceeding 1%. Antimony is a critical mineral with strategic importance in defence, technology, and clean energy sectors. Given recent export restrictions from China, which dominates global antimony supply, Sun Silver’s findings could position Maverick Springs as a valuable domestic source in the United States.

Financial Position Supports Ongoing Exploration

Sun Silver reported cash reserves of approximately $13.6 million at the end of December 2024, bolstered by a $3.1 million tranche from a strategic cornerstone investment. Exploration and evaluation expenditures totaled $2.4 million during the quarter, reflecting the company’s commitment to advancing the project. With nearly five quarters of funding available at current burn rates, Sun Silver is well-positioned to sustain its aggressive exploration agenda into 2025.

Looking Ahead

Executive Director Gerard O’Donovan emphasised the company’s excitement about the drilling results and the potential for further resource expansion. As Sun Silver prepares to leverage these findings into a new phase of exploration, the market will be watching closely for updated resource estimates and the company’s strategy to unlock value from both precious metals and critical minerals at Maverick Springs.