Sun Silver Limited Reports Further Assays from Maverick Springs Silver-Gold Project

Strategic Insights -

Sun Silver Limited has reported further positive assay results from its ongoing exploration program at the Maverick Springs Silver-Gold Project in Nevada, USA. The results from drill hole MR25-212 highlight the strength and consistency of the mineralisation at the Project, extending the system to the north and demonstrating the quality of the deposit. The intercepts, including 54.1m at 137g/t AgEq and 6.25m at over 500g/t AgEq, demonstrate the potential for significant resource growth.

Key Takeaways:

  • Drill hole MR25-212 returned multiple mineralised zones on the north-western edge of the Maverick Springs Mineral Resource.
  • The mineralisation was encountered at a shallower depth than anticipated, with a highly fractured and silicified breccia with quartz veining and acanthite (silver) mineralisation observed around 250m down-hole.
  • The results demonstrate the consistency and strength of the mineralisation at the Project, with intercepts including 54.1m at 137g/t AgEq and 6.25m at over 500g/t AgEq.
  • The deposit remains open along strike and at depth, with multiple mineralised intercepts located outside of the current Resource constrained model.
  • Sun Silver's Managing Director, Andrew Dornan, stated that the results reinforce the potential for significant resource growth at the Maverick Springs Project.
  • The Project is located 85km from the fully serviced mining town of Elko in Nevada, surrounded by several world-class gold and silver mining operations.

Statistics:

  • Drill hole MR25-212 was collared to a depth of 244m with Reverse Circulation ("RC") drilling and completed with a HQ diamond tail to 357.5m.
  • Metallurgical recoveries of 85% have been assumed for both silver and gold, based on the average monthly metal pricing from Jan 2024 to Jan 2025.
  • The Company's view is that both elements referenced in the silver and gold equivalent calculations have a reasonable potential of being recovered and sold.
  • The Maverick Springs Project hosts a JORC Inferred Mineral Resource of 218Mt grading 42.2g/t Ag and 0.31g/t Au for 296.5Moz of contained silver and 2.2Moz of contained gold (480Moz of contained silver equivalent).

Sources:

  • Sun Silver Limited (ASX Code: "SS1")
  • Maverick Springs Silver-Gold Project (Nevada, USA)
  • January 2024 to January 2025 average monthly metal pricing.
  • Maverick Springs Project Prospectus dated 17 April 2024.
  • Fraser Institute (2022) - Mining Jurisdiction Index.
  • Sun Silver Limited news release, dated [current date].