Sun Silver (ASX:SS1) has intersected more than 330 grams per tonne (g/t) silver-equivalent at the Maverick Springs Silver-Gold Project in the US, through its inaugural drilling program.
Extensional hole MR24-186 intersected 41.15m @ 126.75g/t silver-equivalent, including 13.42m @ 331.76g/t silver-equivalent (307.57g/t silver and 0.285g/t gold) from 246.89m.
Sun Silver, which has a market capitalisation of $59.98 million, says this intercept confirms its theory that high-grade mineralisation extends to the north-west beyond the existing mineral resource, as indicated by historical data review and geochemical fieldworks.
The company’s share price had increased 12.5% to $0.54, as of 2pm AEST today.
Executive Director Gerard O’Donovan says the intercept from hole MR24-186 highlights the “significant upside potential of this already globally significant project”.
“The discovery of anomalous antimony further enhances the prospectivity of the area, aligning with our strategy to unlock the full value of this asset,” O’Donovan says.
“These results reaffirm our confidence in the future growth and success of Maverick Springs.”
As a result of these initial investigations, Sun Silver plans to uncover historical core and reverse circulation chips for re-assaying and logging focusing on antimony and other minerals not previously assayed to investigate the extent of such minerals as the Maverick Springs Project.
The Mavericks Spring Project lies in northeast Nevada and has an inferred mineral resource of 125.41 million tonnes at 72.4g/t for 292 million ounces of silver-equivalent.
Write to Aaliyah Rogan at Mining.com.au
Images: Sun Silver
