Sun Silver Limited reports breakthrough high-grade silver-gold intercepts at Maverick Springs alongside a $30 million capital raise to accelerate exploration and development.
- Record 70.1m at 160g/t silver equivalent in new drill hole MR25-211
- Significant antimony mineralisation confirmed with assays up to 1.74%
- Large-scale re-assay program reveals 25% uplift in historic silver grades
- Phase 1 metallurgical test work underway to optimise recovery
- Transformational $30 million placement led by major institutional investors
Maverick Springs Drill Program Delivers Exceptional Grades
Sun Silver Limited has made a compelling advance at its flagship Maverick Springs Project in Nevada, USA, with the first extensional drill hole of the 2025 program returning the highest-grade silver equivalent intercept in the project’s history. Hole MR25-211 delivered an impressive 70.1 metres grading 160 grams per tonne silver equivalent, including a standout 22.4 metres at 460 grams per tonne silver equivalent. This intercept not only extends mineralisation over 100 metres beyond the current resource boundary but also highlights the potential for significant resource growth.
The drill hole also recorded an extraordinary peak interval of 10,548 grams per tonne silver equivalent, underscoring the high-grade nature of the deposit. Alongside silver and gold, notable antimony grades up to 8,895 parts per million were detected, adding a new dimension to the project’s multi-commodity potential.
Re-Assay Program and Metallurgical Advances
Complementing the drilling success, Sun Silver’s ongoing re-assay program of historical drill core has revealed a consistent uplift in silver grades by approximately 25%, suggesting previous resource estimates may have been conservative. This re-evaluation employs advanced four-acid digest methods, providing a more accurate reflection of silver content across grade ranges.
In parallel, the company has initiated Phase 1 metallurgical test work with Independent Metallurgical Operations to refine processing techniques. Historical data indicates silver recoveries of up to 97.5% and gold recoveries near 95%, with current efforts focused on optimising cyanide leach parameters and flotation processes to enhance overall recovery and economic viability.
Strategic Funding and Development Outlook
To underpin this aggressive exploration and development push, Sun Silver secured a transformational $30 million placement led by leading domestic and international institutional investors, including major shareholder Nokomis Capital. The capital injection will fund ongoing drilling, resource upgrades, metallurgical studies, and early-stage development activities, positioning the company to accelerate its path toward resource classification upgrades and project permitting.
Regulatory approval for an additional 90 drill pads further supports the expanded drilling campaign, enabling systematic in-fill and extensional drilling through 2026. The project’s location in Nevada, a top-ranked mining jurisdiction, and proximity to world-class operations like Barrick’s Carlin Mine add strategic value and operational confidence.
Emerging Antimony Potential and Defense Sector Engagement
Sun Silver is also advancing its understanding of antimony mineralisation, a critical mineral with strategic importance to the U.S. Department of Defence. Recent assays have confirmed significant antimony intervals, and the company has submitted a white paper to the DoD outlining Maverick Springs’ potential as a secure domestic source. This engagement could unlock non-dilutive funding or government-backed offtake agreements, adding a valuable dimension to the project’s development strategy.
Financially, the company ended the quarter with $10.79 million in cash and reported $1.41 million in exploration expenditure, reflecting disciplined capital management as it scales up operations.
Bottom Line?
Sun Silver’s record drill results and substantial capital raise set the stage for a pivotal year of resource growth and strategic development at Maverick Springs.
Questions in the middle?
- How will ongoing metallurgical test results impact the economic feasibility of the Maverick Springs Project?
- What is the potential scale and continuity of antimony mineralisation within the project area?
- How might U.S. Department of Defence engagement influence funding and project timelines?