Sun Silver's (ASX: SS1) inaugural drill programme at the globally significant Maverick Springs Silver-Gold Project in Nevada, USA has intersected high-grade silver mineralisation of up to 296g/t Ag over 1.5m based on pXRF readings in its first extensional hole MR24-186.
The Maverick Springs Project, which is located proximal to the prolific Carlin Trend known for low-cost mining and processing, hosts a JORC Inferred Mineral Resource of 125.4Mt grading 43.5g/t Ag and 0.34g/t Au for 175.7Moz of contained silver and 1.37Moz of contained gold (292Moz of contained silver equivalent).
The company’s management said the intercept from the first extensional hole of the programme is significant, as it confirms Sun Silvers theory that high-grade mineralisation extends to the northwest beyond the existing Resource, as indicated by historical data review and geochemical field works.
Along with the success of this extensional drilling, Sun Silver has also confirmed the presence of thick mineralisation in the northern section of the current Resource through a 56.4m intercept in MR24–188.
This intercept in hole MR24-188, which is located within the recently defined high-grade target zone in the north- western section of the current Resource area, confirms the presence of a wide mineralised zone and provides geological confidence in historical works for the purposes of Resource classification upgrades. The 7,500m inaugural drilling program at Maverick Springs is ongoing.
Mineralisation guidance has been confirmed in the field with Sun Silver geologists testing drill material in real time utilising handheld pXRF technology. This enables the field team to make immediate decisions on the ground to help inform drilling strategies. The portable XRF readings are indicative of grade and mineralisation, but do not represent quantitative laboratory derived assay grades.
These are the first mineralised zones intersected in the 2024 drill campaign and lithological interpretation by the on-site geologist remains ongoing. Initial observations describe the intersections as highly fractured, oxidised and silicified sedimentary unit likely from the Rib Hill formation.
Silver or gold mineralisation is not visible to the naked eye, but intermittent oxidised sulphides have been observed in drill chips. At this stage their relationship to grade is not known. The portable XRF analysis is used to define the mineralised zone by silver, arsenic and antimony levels which appear anomalous compared to the rest of the hole. The portable XRF analysis of silver has not yet been quantified by assay results and calibration will be ongoing with the receival of assay results. The results do however highlight the mineralised zone and indicate silver mineralisation grades.