Sun Silver’s (ASX:SS1) maiden Scoping Study and preliminary economic assessment will be accelerated at its Maverick Springs Silver Project in Nevada, US.
Sun Silver has awarded the lead engineering consulting contract to Ausenco (ASX:AAX), which will fast-track project development studies. Consultants will carry out concept and internal scoping engineering studies about developing the maiden Scoping Study and preliminary economic assessment during the second half of calendar 2026.
Studies will evaluate heap leach development pathways through process design, site layouts, site infrastructure, and cost estimates. Silver spot prices have reached about US$77 ($108) an ounce, and the company predicts that values will “remain strong”.
“This work is being undertaken in a strong silver price environment, with prices currently at US$77/oz, which continues to materially enhance project economics and reinforces the timing of advancing the Maverick Silver Project,” Managing Director Andrew Dornan says.
As Mining.com.au previously reported, silver spot prices have fallen by 16.9%. However, prices are still up by 144.34% compared to the same time in 2025, according to Trading Economics.
Investment demand is a key driver of silver’s momentum in the first quarter of 2026. Physical investment demand for silver is on track to soar by 20% before Christmas, with bar and coin purchases climbing to 227 million ounces as Western buyers re-enter the market alongside sustained Indian appetite, according to Endeavour Silver (NYSE:EXK).
Global exchange-traded products (ETP) holdings reached an estimated 1.31 billion ounces, while lease rates in London climbed to all-time highs as physical tightness intensified.
Industrial consumption also plays a key role in silver’s market, accounting for roughly 60% of total demand, excluding exchange traded fund flows, according to JP Morgan.
The Silver Institute reports that the underlying drivers that supported silver throughout much of 2025 have remained firmly in place so far in 2026. These include tight physical supply in London, a volatile geopolitical backdrop, US policy uncertainty, and concerns over the Federal Reserve’s independence.
Looking ahead, JP Morgan Global Research forecasts silver to average US$81 ($113.85) an ounce in 2026, following an eventful year that saw the precious metal’s price increase by 130%.
Silver’s industrial demand remains anchored near 650 million ounces, with pullbacks in solar panel consumption partially offset by surging requirements from artificial intelligence data centres and the automotive sector.
Ausenco is a global engineering, consulting, and project delivery firm that provides end-to-end engineering, construction, procurement, commissioning, operational support, and optimisation. It also prepares concept, trade-off, scoping, prefeasibility, and feasibility studies.
Sun Silver is a silver exploration company with assets in Elko County, Nevada.
Write to Richard Szabo at Mining.com.au
Images: Sun Silver
