Sun Silver Limited Unveils Promising Silver Intersections at Maverick Springs Project
SS1 (SS1) Share Update September 2024 Monday 30th
Sun Silver Limited Reports Exceptional Silver Intersections at Maverick Springs
Sun Silver Limited (ASX: SS1) has revealed outstanding results from its inaugural drilling campaign at the Maverick Springs Silver-Gold Project in Nevada, USA. The company reported thick zones of silver mineralization, including a remarkable 106-meter interval with silver grades up to 440 grams per tonne (g/t).
Instant Summary:
- 106 meters at 54g/t silver (Ag) in drill hole MR24-197 from 196.6 meters.
- 1.52 meters at 440g/t Ag from 297.18 meters in the same hole.
- Anomalous antimony (Sb) readings up to 2,168 parts per million (ppm) in MR24-197.
- Ongoing inaugural drilling campaign at Maverick Springs.
Drilling Success at Maverick Springs
Sun Silver Limited has reported exceptional results from its ongoing drilling campaign at the Maverick Springs Silver-Gold Project. The company intersected thick zones of silver mineralization, with one drill hole, MR24-197, revealing a 106-meter interval at an average grade of 54g/t Ag from a depth of 196.6 meters. This interval includes a high-grade section of 1.52 meters at 440g/t Ag from 297.18 meters.
In addition to silver, the pXRF (portable X-ray fluorescence) analysis also detected significant antimony (Sb) mineralization. Hole MR24-197 recorded antimony readings up to 2,168ppm over a 4.57-meter interval from 198.12 meters.
Ongoing Exploration Efforts
Sun Silver's Executive Director, Gerard O'Donovan, expressed his enthusiasm for the results, stating, 'We are pleased that our inaugural drilling campaign has continued to intersect thick zones of silver mineralization, further reinforcing the scale, endowment, and growth potential of the deposit. With multiple targets yet to be drilled, we are enthusiastic about the prospectivity of the north-west section of the property and look forward to future drilling results.'
Technical Details
The drilling campaign employs hand-held pXRF technology to analyze drill samples in real time, allowing immediate on-site decisions to adjust drilling strategies. While pXRF readings provide useful indications of mineral content, they are not a substitute for laboratory-derived assay grades. All drill intercepts will be sent to an independent laboratory for accurate analysis.
The Maverick Springs Project is located 85 kilometers from Elko, Nevada, and is surrounded by several world-class gold and silver mining operations. The project hosts a JORC Inferred Mineral Resource of 195.7 million tonnes grading 40.25g/t Ag and 0.32g/t Au, containing 253.3 million ounces of silver and 2.0 million ounces of gold.
The announcement of high-grade silver intersections is likely to have a positive impact on Sun Silver Limited's stock price. The significant mineralization results reinforce the potential of the Maverick Springs Project, which could attract investor interest and boost market confidence in the company's exploration efforts.
Investor Reaction:
Analysts are likely to react positively to the news, given the high-grade nature of the silver intersections and the potential for further discoveries at Maverick Springs. The ongoing drilling campaign and the company's strategic focus on this promising project may bolster investor sentiment.
Conclusion:
Investors should keep an eye on Sun Silver Limited's future drilling results and the potential expansion of the Maverick Springs Project. The company's ability to continue delivering high-grade mineralization will be crucial in maintaining and growing investor confidence.