Sun Silver’s Maverick Springs Drilling Raises Stakes Amid Resource Expansion Hopes
Sun Silver Limited has initiated a focused drilling campaign at its flagship Maverick Springs Project in Nevada to upgrade its substantial 480Moz silver-gold resource and explore expansion opportunities.
- Drilling underway at Maverick Springs to upgrade 480Moz JORC Inferred Mineral Resource
- Program includes metallurgical sampling, in-fill drilling, and testing of northwest extensions
- Drilling conducted by Alford Drilling using Reverse Circulation and diamond core methods
- Project strategically located near Barrick’s Carlin Mine in a top-ranked mining jurisdiction
- Sun Silver well funded to advance resource development and metallurgical studies
Drilling Commences at Maverick Springs
Sun Silver Limited (ASX: SS1) has officially commenced a new drilling program at its Maverick Springs Silver-Gold Project, located near Elko, Nevada. This initiative aims to upgrade the existing JORC Inferred Mineral Resource, which currently stands at an impressive 480 million ounces silver equivalent (AgEq) grading 68.29g/t. The program is designed to methodically collect metallurgical samples, conduct in-fill drilling to enhance geological confidence, and test for potential resource extensions to the northwest.
Strategic Location and Operational Setup
The Maverick Springs Project benefits from its proximity to world-class mining operations, including Barrick’s Carlin Mine, situated just 85 kilometers away. Nevada’s status as a premier mining jurisdiction, ranked number one by the Fraser Institute in 2022, further underscores the project's strategic value. Drilling operations are being executed by Alford Drilling, a reputable contractor based in Elko, employing a mix of Reverse Circulation (RC) and diamond core drilling techniques to maximize data quality and resource definition.
Technical Objectives and Resource Potential
The current drilling campaign is multifaceted. It aims to obtain high-quality metallurgical samples critical for ongoing development and processing studies, while in-fill drilling will tighten the resource model, potentially upgrading the confidence level of the existing resource. Additionally, the program will explore resource extensions beyond the current boundaries, particularly to the northwest, where geological indications suggest further mineralisation may exist. This approach aligns with Sun Silver’s strategy to both advance near-term development and pursue long-term growth opportunities.
Financial and Operational Readiness
Sun Silver has confirmed it is well funded to execute this drilling program and subsequent development activities. Managing Director Andrew Dornan highlighted the company’s commitment to a technically driven campaign, emphasizing efficient mobilization and targeted sampling. The company plans to keep the market updated as drilling progresses over the coming months, signaling confidence in the project’s potential to deliver value.
Outlook and Market Context
The Maverick Springs Project’s substantial resource base, combined with its high-grade silver and gold content, positions Sun Silver as a notable player in the silver-gold exploration sector on the ASX. The ongoing drilling program represents a critical step in advancing the project towards development, with metallurgical results and resource upgrades likely to be key catalysts for investor interest. Given the project's location within a prolific mining district and the company’s methodical approach, the market will be watching closely for assay results and any indications of resource expansion.
Bottom Line?
Sun Silver’s drilling push at Maverick Springs could redefine its resource profile and unlock significant value in a premier mining jurisdiction.
Questions in the middle?
- When can investors expect initial assay and metallurgical results from the current drilling program?
- How might potential resource extensions to the northwest impact the overall resource size and grade?
- What are the next development milestones following the completion of this drilling campaign?
