Sun Silver Ltd (ASX:SS1) Extensional Drill Holes Return High-Grade Silver Up To 417 g/t

18 December 2024

Price Sensitive Announcement $

Company: Sun Silver Ltd
ASX Code: SS1
Market Cap: $61.7m (C.O.B 17 September 2024)
Cash: 13.5m (30 Sept 2024)

Highlights:

 Assay results from MR24-203 (extensional drill hole), located 250m outside the current Mineral Resource boundary:
– 35.05m at 89.7g/t AgEq (74.8g/t Ag, 0.176g/t Au) from 315.47m down-hole, including:
– 6.10m at 329.46g/t AgEq (304.75g/t Ag, 0.291g/t Au) from 333.76m

 Assay results from MR24-200 (extensional drill hole):
– 42.67m at 76.8g/t AgEq (59g/t Ag, 0.210g/t Au) from 245.36m down-hole, including:
– 4.57m at 417.08g/t AgEq (393g/t Ag, 0.279g/t Au) from 266.7m

 Anomalous Antimony (Sb) assay results continue to be returned in holes 200, 201 & 203, with grades of up to 5,157ppm Sb.

 The 2024 Maverick Springs drilling campaign is now complete, with all remaining drill hole
samples currently in the laboratory for assaying.

Overview:

Sun Silver Limited has advised that the inaugural drill program at its 100%-owned Maverick Springs Silver-Gold Project in Nevada, USA (“Maverick Springs Project” or “the Project”) continues to deliver high-grade silver assay results up to 250m beyond the current Resource boundary with hole MR24-203 returning grades up to 329.46g/t AgEq.

Antimony results also continue to be recorded with assay results returning grades up to 5,157ppm Sb in MR24-203.

MR24-203, which is located 250m outside the current Resource boundary, returned impressive assay results including 35.05m at 89.7g/t AgEq (74.8g/t Ag, 0.176g/t Au) from 315.47m down-hole, including 4.57m at 329.46g/t AgEq (305g/t Ag, 0.291 g/t Au) from 333.76m.

MR24-200, another extensional hole, returned impressive assay results with 42.67m at 76.8g/t AgEq (59g/t Ag, 0.210g/t Au) from 245.36m down-hole, including 4.57m at 417g/t AgEq (393g/t Ag, 0.279 g/t Au) from 266.7m.

Antimony results continue to be returned with all three holes returning results greater than 500ppm Sb.

With the inaugural drilling campaign now complete, outstanding assay results for the remaining drill holes are expected to be progressively received within the next 4-6 weeks.

Company Notes:

Sun Silver Executive Director, Gerard O’Donovan, said:
“Step-out drilling continues to deliver strong results, with hole MR24-203, located 250 metres outside the Resource boundary, returning a thick, high-grade intercept with grades up to 329.46 g/t AgEq. The drilling completed in the second half of 2024 has reinforced our confidence in the exceptional growth potential of what is already a globally significant silver project.”

Full ASX Announcement: Sun Silver – SS1 Announcement