Gold is trading at around US$3337/oz and silver at US$33/oz, with renewable energy technology, electronics manufacturing and the medical industry all adding demand beyond silver’s usual safe-haven status.
Last month SS1 upgraded the project’s resource estimate to 480 million ounces of silver equivalent at 68.29g/t AgEq – a 57Moz uplift.
Plus, the silver-only resource was notably increased in ounces and grade to stand at 296.5Moz at 42.20g/t, making Maverick Springs the largest pre-production primary silver asset on the ASX and within the USA.
Sun Silver (ASX:SS1) is looking to build it out further with this drilling designed to collect metallurgical samples, methodically infill the existing resource and further test resource extensions to the northwest.
The drilling comprises a mix of diamond core and reverse circulation (RC) drilling.
The project is surrounded by several world-class gold and silver mining operations including Barrick’s Carlin mine.
Not to mention, Nevada is a globally recognised mining jurisdiction rated as the Number 1 mining jurisdiction in the world by the Fraser Institute in 2022.
The company said it was well-funded to execute this drilling program and aimed to methodically progress infill drilling through the various areas of the resource as access was opened.
“With drilling underway, we’re pleased to be executing a technically driven program that supports both near-term development and long-term growth,” SS1 managing director Andrew Dornan said.
“Alford Drilling has mobilised efficiently and we’re encouraged by the early progress as we target key areas for metallurgical sampling, infill and extensional potential.”
