The Sun Silver (ASX:SS1) JORC resource estimate now stands at 480 million ounces of silver equivalent at 68.29g/t AgEq after a 57Moz uplift.
The silver-only resource was notably increased in ounces and grade to stand at 296.5Moz at 42.20g/t.
And with the resource open in all directions and at-surface and near-surface mineralisation shown by historic drilling to lie above the southern portion of its zone, the company sees plenty of room to keep building its collection.
Sun Silver managing director Andrew Dornan said the increase had reinforced Maverick Springs as the largest pre-production primary silver deposit on the Australian exchange.
“Our drilling continues to deliver exceptional value, with each new ounce from the 2024 drilling campaign delivered at a cost of just $0.058,” Dornan said.
“Crucially, new resource modelling has also highlighted the potential for extensive mineralisation at- or near-surface in the southern part of the deposit, opening up significant new development opportunities and enhancing future production potential.”
Sun Silver is set to begin infill drilling next month with the objective of systematically upgrading its resource to the higher confidence indicated category.
The company also expects to get some extensional work done on high-priority step-out targets which could further expand its resource base.
And while silver’s precious metal partner has been taking the shine with record prices, not all that glitters is gold, and IG chief market analyst Chris Beauchamp said silver has outpaced many other commodities and was attracting increased attention.
Renewable energy technology, electronics manufacturing and the medical industry have all added demand beyond silver’s usual safe-haven status.
But there’s gold in the resource too, and the company is also taking a look at its critical antimony potential after last year’s drilling returned assays exceeding the detection limit.
