The inferred resource for the Nevada-based property now stands at 423.2 million silver equivalent ounces at 67.25 grams per tonne (g/t) silver equivalent with a cut-off grade of 30.86 g/t silver equivalent.
Maverick Springs’ silver-only resource now stands at 253 million ounces at 40.25 g/t silver.
According to Sun Silver, this makes the project “the largest pre-production primary silver asset on the ASX.”
The company credits the inferred resource increase to including the entire mineralised domain outlined in the project. It believes there are “reasonable prospects for eventual economic extraction” given metals prices now and in the future.
Sun Silver acquired Maverick Springs earlier this year, and it notes that the updated resource estimate incorporates a review of historical drill data. It does not include data from its initial drill program at the site.
“Our current drilling campaign has intercepted high-grade mineralisation beyond the existing resource, with mineralisation open in all directions,” said Gerard O’Donovan, executive director of Sun Silver.
Sun Silver said now it has established the extent of the mineralisation at Maverick Springs, it wants to expand known mineralisation and increase its confidence in the project’s resource model.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Leave a Reply