Sun Silver (ASX:SS1) is conducting further investigations at the Maverick Springs Silver-Gold Project in Nevada, US, after portable x-ray fluorescence (pXRF) readings recorded up to 13,199 parts per million (ppm) antimony.
The ongoing investigations aim to determine the extent of antimony mineralisation throughout the mineralised body and whether there is potential for shallow mineralisation like that observed in drill core MR1, which recorded a shallow average of 1,356ppm antimony.
Sun Silver, which has a market capitalisation of $74.36 million, reports pXRF readings have returned consistent anomalous antimony readings within five of the historical drill holes analysed at the Maverick Springs Project.
Initial anomalous antimony results recorded within Maverick Springs are up to 1.3km apart.
Executive Director Gerard O’Donovan says the data from the historical drilholes will be leveraged to further substantiate the potential of Maverick Springs to host antimony alongside its extensive silver and gold endowment.
“In response to the urgent US demand for antimony due to upcoming Chinese export restrictions, we are actively working with Holland & Knight to explore funding opportunities with the US Department of Defense,” O’Donovan says.
“This initiative positions us to advance the Maverick Springs Project and address the need within the US for this critical mineral.”
Antimony is a critical mineral used in the defence, technology, and energy sectors.
As this news service previously reported, China announced restrictions on the export of antimony. China and its allies Russia and Tajikistan account for 90% of the world’s antimony production.
US-based Perpetua Resources Corp (TSX:PPTA) intends to provide the only locally mined source of antimony, through its Stibnite Gold Project. The company’s current production plan will only meet 35% of the antimony demand in the US.
Sun Silver notes that its urgency to explore potential funding avenues with Holland & Knight is driven by impending restrictions on antimony exports from China, which will disrupt supply chains crucial for national security and defence applications.
The Maverick Springs Project lies 85km from Elko in Nevada and hosts an inferred mineral resource of 195.7 million tonnes at 40.25 grams per tonne (g/t) silver and 0.32g/t gold for 253.3 million ounces of contained silver and 2 million ounces of contained gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Sun Silver
