Sun Silver Extends Maverick Project Landholding to 15 Kilometres with Bayan Springs North Acquisition

Strategic Land Consolidation Strengthens Maverick Silver Project

Sun Silver Limited (ASX:SS1) has executed a binding agreement to acquire the 100% owned Bayan Springs North Project from Bayan Mining and Minerals Ltd (ASX:BMM), while simultaneously staking an additional 106 lode mining claims in Nevada, USA. These moves expand the Maverick Silver Project’s landholding by nearly 18.6 square kilometres, consolidating uninterrupted ownership across a highly prospective 15-kilometre northwest structural corridor that remains largely untested, with only about 2.5 kilometres drill tested to date.

The acquisition and claim staking secure continuous control over the northwest extension of the Maverick Silver mineralised trend, a zone that recent geological work has identified as hosting high-grade silver-gold mineralisation within a northwest-trending antiformal hinge and structural corridor. This strategic consolidation underpins Sun Silver’s evolving geological model and positions the company to explore the broader scale potential of its cornerstone asset.

Emerging Northern Target Highlights Exploration Upside

Surface exploration has uncovered a compelling new target approximately 4.5 kilometres north of the existing resource area. This Northern Target is defined by a 2-kilometre arsenic-antimony anomaly exhibiting hallmark Carlin-style pathfinder geochemical signatures, including silica alteration, decalcification, and jasperoidal brecciation. These features closely resemble those observed directly above the existing 539Moz silver equivalent Maverick Silver Deposit, suggesting the anomaly could be part of the same mineralising system.

The presence of elevated antimony and arsenic, along with coincident favourable alteration, marks this corridor as a high priority for further exploration. While the anomaly’s true extent and mineralisation remain to be confirmed by drilling, the discovery adds a promising greenfields target to Sun Silver’s portfolio.

Acquisition Terms and Project Overview

The Bayan Springs North Project comprises 116 unpatented lode claims covering approximately 9.7 square kilometres. Sun Silver’s consideration for the acquisition includes A$150,000 cash on completion, a further A$150,000 payable 12 months later, a contingent payment of A$500,000 triggered by a future drill intersection of at least 20 metres grading 100g/t AgEq or greater, and a 1.0% Net Smelter Return (NSR) royalty with a repurchase option for half the royalty at A$2 million.

Located 85 kilometres from Elko, Nevada, the Maverick Silver Project is surrounded by world-class mining operations, including Barrick’s Carlin Mine. Nevada’s status as the world’s top mining jurisdiction adds to the project’s appeal. The deposit hosts a JORC Inferred Mineral Resource of 237 million tonnes grading 45.5g/t silver and 0.3g/t gold, equating to 347.2 million ounces of silver and 2.25 million ounces of gold, or 539 million ounces silver equivalent. The resource remains open along strike and at depth, with recent drilling intercepts confirming high-grade zones within the northwest structural corridor.

Ongoing Drilling and Development Pathway

Sun Silver’s 2026 drilling program is underway, with assay results expected shortly. The company aims to build on recent successes, including significant resource growth from drilling along the northwest extension and metallurgical test work supporting a low-cost heap leach development route. The expanded landholding and new exploration targets create multiple avenues for resource expansion ahead of a planned Scoping Study in late 2026.

Sun Silver’s Managing Director, Andrew Dornan, emphasised the strategic importance of securing continuous ownership across the northwest extension, noting that the largely untested corridor presents significant upside potential as the company advances its geological understanding and exploration activities.