SS1 assays 65 metres of antimony on US silver project

Our 2024 Small Cap Pick of the Year Sun Silver (ASX: SS1) just assayed 65m of antimony mineralisation inside its giant 480M ounce silver equivalent JORC resource.

SS1’s project is the biggest pre-production silver asset on the ASX and in the USA.

SS1’s current resource is built on over 200 historic drillholes.

SS1 is currently re-assaying those old holes to see if an antimony resource can also be defined on the project.

So far we have seen SS1 assay antimony across a 2.4km x 1.4km area over its resource.

Today, we saw another hole within that area come back with ~65m of mineralisation averaging ~0.1-0.11% antimony.

Today's assay results are again well above the average grades of the current biggest antimony resource in the USA - ~$2.9bn Perpetua Resources project which has average grades of ~0.06%-0.07% antimony.

SS1’s two sections average 0.1 and 0.11% antimony grades - as well as a small section where grades were as high as 7.8% antimony.

Antimony could unlock US government funding for SS1’s project

SS1 still has over 35 historical holes submitted for multi-element assaying.

SS1 expects to have more results out on the antimony front this quarter.

We are hoping the assays are strong enough to eventually lead to a maiden antimony resource estimate for SS1.

An antimony resource could land SS1 in the middle of what we think could be the TWO biggest macro thematic on the ASX over the coming years.

Precious metals (silver) AND US based critical metals critical metals (antimony).

We also think a maiden resource will be key to unlocking potential large government funding deals for SS1’s project.

Like the deals we have seen Perpetua Resources sign for its gold-antimony project in the US.

SS1 is working on government funding for its project right now:

(Source - SS1 announcement)

Update on our 6 key “Share price catalysts” for SS1

We have been talking about what might trigger a rally in SS1’s share price in 2025 since the start of this year.

Of the 6 catalysts that we have forecast for SS1, so far 4 of them have played out in SS1’s favour:

• ✅ Silver price runs - Silver hit 14 year highs in July above US$40 Per ounce.
• ✅ Exploration success - SS1 with the first hole of its 2025 drill program delivered its best ever drill result 70m of mineralisation outside of the current resource. An interval with grades as high as 10,548g/t silver.
• ✅ SS1 reaches a size where it gets added to index funds - SS1 was added to the Sprott Silver Miner and Physical Silver ETF and the ETF has been increasing its holding…
• ✅ SS1 delivers an antimony surprise - SS1 delivered the best antimony results from its project we have seen a few weeks ago… and then today’s results… SS1 is now working towards a “potential maiden antimony mineral resource”.
• 🔄 SS1 resource update - SS1 is drilling its project right now and is showing that this could be a much bigger catalyst than we expected…
• 🔄 SS1 met test work results - SS1 is working on this right now.