Sun Silver Elevates Maverick Springs Resource to 480Moz AgEq, Unveils New Leadership
Sun Silver Limited has announced a substantial upgrade to its Maverick Springs Project resource, now totalling nearly 480 million ounces silver equivalent, alongside key leadership appointments and the launch of its 2025 drilling campaign.
- JORC 2012 Inferred Mineral Resource increased to 479.8Moz silver equivalent
- Notable drill intercepts include 102.11m at 111g/t AgEq with high-grade zones
- New Managing Director Andrew Dornan and Non-Executive Chair Shaun Hardcastle appointed
- 2025 drilling program underway targeting resource upgrade and expansion
- Environmental baseline surveys commenced to support regulatory approvals
Resource Upgrade Highlights Maverick Springs Potential
Sun Silver Limited (ASX: SS1) has delivered a significant milestone with the release of final assay results from its 2024 drilling program at the Maverick Springs Project in Nevada. The updated JORC 2012 Inferred Mineral Resource now stands at an impressive 479.8 million ounces silver equivalent (AgEq), comprising 296.5 million ounces of silver and 2.16 million ounces of gold at a 30g/t AgEq cut-off. This upgrade not only increases the resource size but also improves the average grade, reinforcing Maverick Springs as one of the largest primary silver assets on the ASX.
The 2024 drilling campaign, spanning approximately 7,500 metres across 23 reverse circulation holes, yielded several standout intercepts. Among these, drillhole MR24-199 returned 102.11 metres at 111g/t AgEq, including a high-grade 7.62 metres at 508.7g/t AgEq. These results extend mineralisation beyond the current resource boundaries, with the deposit remaining open in all directions, suggesting further upside potential.
Strategic Leadership Appointments Strengthen Corporate and Technical Teams
In parallel with its exploration progress, Sun Silver has bolstered its leadership team. Andrew Dornan, a co-founder and major shareholder with over 20 years of experience in exploration and mining, has been appointed Managing Director. Dornan’s track record includes senior roles at major mining companies and leading the development of significant projects in Nevada. Shaun Hardcastle, a seasoned corporate lawyer with extensive governance expertise, joins as Non-Executive Chair, bringing valuable oversight during this critical growth phase.
Further technical strength comes with the appointment of Keith Wood as Exploration Manager. Wood brings 25 years of experience in discovery and development of world-class gold and silver deposits in Nevada, including leadership roles at Barrick and Nevada Gold Mines. His expertise is expected to accelerate resource category upgrades and guide metallurgical testing programs.
2025 Drilling Program and Environmental Progress
Sun Silver has commenced its 2025 drilling program with clear objectives: upgrading the resource to the Indicated category through infill drilling, testing high-priority extensional targets to the northwest, advancing metallurgical studies, and supporting strategic project development. The company has retained its 2024 drilling partner, Alford Drilling, and established a core processing facility in Elko, Nevada, to support efficient operations.
Environmental baseline surveys are underway under the National Environmental Policy Act (NEPA), aiming to expedite permitting and mitigate risks. Early data collection demonstrates Sun Silver’s commitment to responsible development and stakeholder engagement, which will be critical as the project advances toward potential production.
Antimony Adds Strategic Dimension
Adding a new layer of strategic value, Sun Silver confirmed widespread antimony mineralisation within the Maverick Springs deposit. Antimony is classified as a critical mineral with growing importance in energy, defense, and semiconductor applications, particularly amid supply chain concerns. The company is actively integrating antimony assessment into its exploration and resource modelling, positioning Maverick Springs as a potential multi-commodity asset with enhanced market relevance.
Financial Position and Outlook
Sun Silver ended the quarter with approximately A$12.5 million in cash reserves, having spent in line with its prospectus allocations on exploration and corporate activities. No mining production occurred during the period, consistent with the project’s exploration and pre-development status. The company’s disciplined capital management and strategic hires set the stage for continued advancement of Maverick Springs.
As Sun Silver moves forward, the market will be watching closely for further drilling results, resource category upgrades, environmental milestones, and the company’s ability to leverage its strengthened leadership and technical team to unlock value from this significant silver-gold asset.
Bottom Line?
With a near 480Moz silver equivalent resource and fresh leadership, Sun Silver is poised to turn exploration success into development momentum.
Questions in the middle?
- How quickly can Sun Silver upgrade the resource from Inferred to Indicated and Measured categories?
- What impact will the widespread antimony mineralisation have on project economics and strategic partnerships?
- How will the environmental permitting process progress, and what timelines are expected for regulatory approvals?
