Sun Silver (ASX:SS1) has intersected up to 605 grams per tonne (g/t) silver outside of the resource at the Maverick Springs Silver-Gold Project in Nevada, US.
Through its inaugural drilling campaign, the company has continued strong progress as all extensional holes completed to date have intersected “high-grade” silver mineralisation outside the recently upgraded resource.
Sun Silver, which has a market capitalisation of $82.48 million, reports drillhole MR24-191 intersected 605g/t silver from 289.56m based on portable x-ray fluorescence (pXRF) readings.
The company has confirmed the mineralisation in the field by using hand-held pXRF technology to analyse drill samples in real time. This allows for immediate onsite decisions to be made to adjust drilling strategies.
Executive Director Gerard O’Donovan says these extensional holes complement the increase to the Maverick Springs resource, announced last week, further reinforcing the company’s confidence in the potential for additional resource growth.
“We are pleased to announce that our extensional drilling has continued to intersect high-grade mineralisation in all extensional holes outside the recently expanded resource boundary,” O’Donovan says.
“This significant result not only highlights the immediate success of our drilling program, but also bodes well for future resource expansion.”
The extensional hole drill samples have been sent to American Assay Labs in Reno for multi-element analysis.
The Maverick Springs Project lies 85km from the fully serviced mining town of Elko in Nevada and is surrounded by gold and silver mining operations.
Maverick Springs’ latest resource estimate totals 423 million ounces for 195.73 million tonnes at a cut-off grade of 30.86g/t silver-equivalent.
O’Donovan is today (3 September) presenting at the Resources Rising Stars conference in Queensland, in which Mining.com.au is also attending.
Write to Aaliyah Rogan at Mining.com.au
Images: Sun Silver
