In particular, drill hole MR24-198 returned a thick intercept of 50m of silver and gold mineralisation grading 70g/t silver equivalent (43.9g/t silver, 0.311g/t gold), including a high-grade zone of 3.05m at 423g/t silver equivalent (398g/t silver, 0.293 g/t gold).
Notably, this step-out drill hole is around 220m from historical drilling, which confirms that mineralisation continues outside the existing mineral resource of 195.7Mt grading 40.25g/t silver and 0.32g/t gold for 253.3Moz of contained silver and 2.0Moz of contained gold.
Plus, antimony was intercepted, with hole MR24-198 returning up to 615.73ppm from 294.13m, with SS1 continuing to assess the project’s antimony potential.
The company is confident that, with recent spot prices for gold at US$2,650 and silver at US$31.20, both elements referenced in the silver and gold equivalent calculations have a reasonable potential of being recovered and sold.
The next step, once all results are in, is to update the resource estimate early next year to include these assays from the north-western sector of the project.
“Our lab results continue to deliver consistently higher-grade and thicker intercepts than the current mineral resource average in the north-west zone,” Sun Silver (ASX:SS1) executive director Gerard O’Donovan said.
“This bodes well for future drilling and is expected to make a significant contribution towards a revised mineral resource estimate in the near future.”
