Sun Silver Limited Strikes High-Grade Silver and Antimony at Maverick Springs
SS1 (SS1) Share Update December 2024 Monday 2nd
Sun Silver Limited Announces High-Grade Silver and Antimony Findings
Sun Silver Limited (ASX: SS1) has announced exceptional assay results from its Maverick Springs Silver-Gold Project in Nevada, USA, highlighting high-grade silver and antimony mineralization.
Instant Summary:
- MR24-205 intersected 16.76m at 494g/t AgEq, ending in mineralization.
- 4.57m of 1,249g/t AgEq from 193.55m, including 1,222g/t Ag and 0.313g/t Au.
- Antimony assays above 10,000ppm Sb over 3.24m from 195.07m.
Drill Results Overview
Sun Silver Limited's latest drilling at the Maverick Springs Project has yielded significant results, with hole MR24-205 returning an impressive 16.76 meters at 494 grams per tonne silver equivalent (AgEq) from 193.55 meters down-hole. The drill hole ended in mineralization, suggesting further potential at depth.
Within this interval, a standout section of 4.57 meters was recorded at 1,249 grams per tonne AgEq, comprising 1,222 grams per tonne silver and 0.313 grams per tonne gold. These results underscore the project's potential for high-grade silver and gold resources.
Antimony Potential
In addition to silver and gold, the assays revealed significant antimony (Sb) concentrations, with grades exceeding 10,000 parts per million over a 3.24-meter interval from 195.07 meters. This exceeds the current detection limits, prompting re-assaying to determine the full extent of mineralization.
Executive Director Gerard O'Donovan highlighted the strategic importance of these findings, particularly in light of recent export restrictions on antimony by China. The Maverick Springs Project could play a crucial role in supporting the U.S. Department of Defense's goals for a secure domestic supply of this critical mineral.
Ongoing Exploration
Sun Silver plans to continue leveraging both recent and historical drilling data to further validate the potential of antimony within the Maverick Springs deposit. Additional assay results from other drill holes in the program are expected in the coming weeks, which could provide further insights into the project's mineral potential.
The announcement of high-grade silver and antimony assays is likely to positively impact Sun Silver's stock price as investors recognize the strategic importance of these minerals, especially given the geopolitical context surrounding antimony supply. The potential for Maverick Springs to contribute to domestic antimony production could attract significant investor interest.
Investor Reaction:
Analysts are likely to react positively to the news, noting the high-grade nature of the findings and the project's potential to support U.S. strategic mineral supply. However, the full market reaction will depend on further assay results and the company's ability to advance the project efficiently.
Conclusion:
Investors should keep a close eye on Sun Silver's upcoming assay results and strategic plans for Maverick Springs. The project's potential to deliver critical minerals could significantly enhance its value proposition in the current market environment.