Sun Silver (ASX:SS1) has received additional drilling results further proving its theory that thick, ‘high-grade’ mineralisation extends to the north-west of the Maverick Springs Project’s resource area in Nevada, US.
The inaugural drilling program, comprising extensional hole MR24-191, has intersected thick mineralisation of 88.39m @ 79.6 grams per tonne (g/t) silver-equivalent from 211.84m.
Sun Silver, which has a market capitalisation of $78.10 million, reports further drilling results from MR24-191 include 13.72m @ 166.65g/t silver-equivalent and 1.52m @ 521.52g/t silver-equivalent.
MR24-191 has been terminated in mineralisation and remains open at depth.
Executive Director Gerard O’Donovan says drilling has confirmed the continuation of high-grade mineralisation as the company steps out from the recently upgraded resource area.
“This has proven our theory that wide, high-grade mineralisation extends to the north-west of the current resource area, providing strong momentum for the remainder of our extensional drilling program,” O’Donovan says.
“We look forward to receiving additional assays from the ongoing program, which will feed into future mineral resource updates for the Maverick Springs Project.”
Gold’s spot price is currently sitting at $3,769.88 per ounce, while silver is sitting at $43.23 per ounce, as reported by the ABC Bullion.
In addition to silver and gold, anomalous antimony readings up to 238.78 parts per million antimony were returned as part of lab assays in hole MR24-191.
Assays are pending for drillholes MR24-189A and MR24-192, which also intersected mineralisation outside of the existing resource.
Drilling is ongoing at the project, which comprises 7,500m of drilling focused on the north-west area of the property beyond the mineral resource boundary.
Maverick Springs’ resource estimate totals 423 million ounces at 67.25g/t silver-equivalent. The project lies 85km from the fully serviced mining town of Elko in Nevada.
Write to Aaliyah Rogan at Mining.com.au
Images: Sun Silver
