Sun Silver (ASX:SS1) has executed a binding agreement to acquire the Bayan Springs North Project from Bayan Mining and Minerals (ASX:BMM) while staking 106 additional lode claims covering 8.86km2.
The transactions secure continuous ownership across the northwest mineralised trend extending from the existing 539-million-ounce silver equivalent Maverick Silver Deposit in Nevada, US.
This acquisition comprises 116 lode claims covering 9.70km2 and provides uninterrupted control of Sun Silver’s evolving geological model along the interpreted northwest structural corridor.
Managing Director Andrew Dornan says securing continuous ownership across the northwest extension of Maverick represents an ‘important strategic outcome’ for the company.
“The acquisition and additional claim staking provide Sun Silver with control of a highly prospective corridor that has emerged through our evolving geological understanding and remains largely untested,” Dornan says.
New exploration target emerges north of Maverick
Drilling and geological work completed between 2024 and early 2026 have refined the company’s understanding of mineralisation controls at Maverick.
The work identified ‘high-grade’ mineralisation focused within a northwest-trending antiformal hinge and associated structural corridor.
Exploration during 2025 successfully tested this interpretation, resulting in the northwest expansion of the mineral resource estimate.
This includes an intercept of 70.1m @ 160 grams per tonne silver equivalent (AgEq) from 255.1m, including 22.4m @ 460g/t AgEq.
Sun Silver has identified a ‘compelling’ new exploration corridor extending beyond the current Mineral Resource footprint through recent regional rock chip sampling.
Exploration has identified an anomalous trend associated with elevated antimony and arsenic assay results and coincident favourable alteration over a 2km strike approximately 4.5km north of the Maverick mineral resource area.
The Northern Target exhibits silica alteration, decalcification, and jasperoidal brecciation. These characteristics are hallmark features of Carlin-style mineralising systems.
The geochemical signature is similar to surface samples directly above the Maverick Silver Deposit, where 2025 rock chips showed elevated arsenic and antimony, along with sporadic anomalous silver and gold.
Following completion of the acquisition and claim staking, the Maverick Silver Project now controls approximately 15km of prospective strike — of which only approximately 2.5km has been drill tested.
The consideration for acquiring the Bayan Springs North Project includes $150,000 cash on completion.
A further $150,000 cash is payable 12 months following completion.
A contingent payment of $500,000 is also payable upon announcement within five years of a drill intersection of at least 20m grading 100g/t silver equivalent or greater.
The Maverick Silver Project hosts a JORC inferred mineral resource of 237 million tonnes grading 45.5g/t silver (Ag) and 0.30g/t gold (Au) for 347.2 million ounces of contained Ag and 2.25 million ounces of contained Au.
Write to JC Villarba at Mining.com.au
Images: Sun Silver
