High-grade silver exposure on the ASX may be few and far between, but one company standing out from the rest is Sun Silver (ASX:SS1) with an advanced 292Moz silver equivalent resource in the tier 1 jurisdiction of Nevada.
The company’s Maverick Springs project sits on the southeast end of the Carlin Trend belt, home to monster gold-silver deposits including Kinross’ 3.7Moz Bald Mountain gold mine.
Around 200 holes for 60,000m – 20% of the project landholding – have been drilled at the property to date, a sign there’s significant scope to increase current resources.
SS1 have mobilised to site and started to carry out initial reconnaissance work on the northern section of Maverick Springs, which has been identified as a high-priority area for exploration.
Prospective rock chip samples were taken and assessed via pXRF analysis, a real time sampling tool that is typically used to identify areas of promise.
Readings of up to 316 parts per million (ppm) arsenic were returned from locations outside of the pit resource shell, with the furthest sample being 1.2km from the resource shell boundary.
While pXRF is no replacement for laboratory assaying due to its limited scope, it is nonetheless valuable in helping with exploration decisions.
SS1 says current and future samples are being sent for laboratory analysis.
“The exploration team has made significant progress, leading to an exciting discovery beyond the current resource boundary at Maverick Springs,” SS1 exec director Gerard O’Donovan says.
“We plan to continue fieldwork to refine drill targeting and conduct further sampling across the property.
“Additionally, we eagerly anticipate the mobilisation of Zonge International in the coming weeks to carry out gravity surveys on the property.”
SS1 has awarded a geophysical gravity survey package to Zonge International who is now preparing to mobilise to site.
The survey will consist of ~546 gravity stations being captured on a 100m x 100m grid across the resource and extensional prospects to define geological structures in the region, structural context of the deposit specifically targeting the identification of feeder zones and post-mineralisation offsets.
All three tender submissions for the company’s maiden drill program have been received, and final reviews and assessments are well underway with a focus on expediting the program.
