Sun Silver Ltd Fully Paid Ord. Shrs (ASX: SS1) (FRA: E7J) just hit unprecedented silver equivalent mineralization at its Maverick Springs project in the Silver State of Nevada.
Last week, the mining company released a core assay yielding 160 grams per tonne silver equivalent over 70.1 metres. This hole included 460 g/t AgEq throughout 22.4 metres and an exceptionally rich section with 10,548 g/t AgEq in a 0.76-metre interval.
The project currently holds 480 million ounces of silver equivalent, according to the most recent mineral resource estimate. Managing director Andrew Dornan says success with the 2025 drill campaign has reinforced his belief that the MRE number could be boosted. It was put together in 2004, but low metal prices made advancing the operation into production unfeasible at the time.
“Intercepting 10,548 g/t AgEq, the highest in project history, confirms the presence of exceptional high-grade mineralization beyond the current resource footprint and sets a strong tone for the 2025 program,” he stated in Sun Silver’s ASX announcement.
The news comes as the price of silver is sitting at a 13-year high at approximately US$36.93 an ounce. Precious metals have been gaining steam on the back of geopolitical tensions, central bank buying, high industrial demand, safe haven appeal and increasing demand in the solar sector.
Maverick Springs also holds substantial quantities of two other hot commodities: gold and antimony (Sb). The site is estimated to contain about 2.2 million ounces of the yellow metal and has been yielding favourable percentages of a critical mineral that has been pulling the spotlight.
Read more: NevGold’s latest Nevada drill results show exceptional gold mineralization
Sun Silver takes a closer look at the antimony footprint
On Jun. 25, Sun Silver announced that after looking through old records it discovered that a previous hole yielded 0.11 per cent Sb over 30.69 metres with 0.48 per cent in a 1.1-metre interval. Historic rock chip samples have held 0.22 per cent Sb, the junior miner specified.
Dornan pointed out that the historic result was of a higher grade than the reserve and resource grades at the Stibnite operation under development by Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA).
“With the current Maverick Springs mineral resource extending 2.4 kilometres in length and 1.4 kilometres in width, this result highlights the broader antimony potential of the project,” Dornan stated.
A comprehensive re-assay program is currently underway to enhance the company’s understanding of the site’s Sb potential.
Visible stibnite in Maverick Springs core. Credit: Sun Silver
Read more: NevGold’s latest Nevada drill results show exceptional gold mineralization
Bull market for precious metals and antimony brings optimism
Sun Silver’s asset is one of a few Nevada mine sites that have been becoming increasingly appealing for antimony as the U.S. scrambles to find reliable domestic sources. At the moment, there are none. The nation has lost its stream of imports from China, the world’s top supplier, and needs to fill a massive void for military and industrial purposes.
The American Antimony Project being developed by Xtra Energy Ord Shs (OTCMKTS: XTPT), NevGold Corp‘s (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) Limousine Butte project, and the Last Chance antimony-gold asset held by Military Metals Corp (CNSX: MILI) (OTCMKTS: MILIF) (FRA: QN90) are also worthy of note.
Sun Silver presents a long-term, high-risk, high reward variety of investment opportunity. Rich silver intercepts being pulled from Maverick Springs combined with bullish forecasts for the silver market and high commodity prices make it appealing, but the mine won’t enter production for years. Getting it to that stage will require substantial funding and regulatory clearances.
However, Sun Silver does have zero debt at the moment, according to its most recent presentation.
Maverick Springs is the largest pre-production silver asset held by an ASX-listed mining company. Sun Silver went public in May last year.
NevGold is a sponsor of Mugglehead news coverage
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