SS1 continues to find antimony in historical drilling at Maverick Springs

Our 2024 Small Cap Pick of the Year Sun Silver (ASX: SS1) keeps finding antimony inside its giant silver deposit in Nevada, USA.

SS1 already has a 480M ounce silver equivalent JORC resource.

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

Earlier this morning the US Department Of Interior added silver to its critical minerals list…

(Source)

With silver now on the critical minerals list the likelihood of a silver project inside US borders (like SS1’s) is a lot higher…

(Source)

Now SS1’s project could attract some sort of government funding for two critical minerals - silver and antimony…

SS1’s 480m ounce silver equivalent resource is built on over 200 historic drillholes.

Before SS1 acquired the asset, those holes had never been assasyed for antimony.

SS1 has spent the last ~12 months re-assaying those holes and has found antimony mineralisation scattered throughout its resource.

Today, SS1 assayed antimony in the near surface sections of its project:

(Source)

Some of the best assays SS1 has had were ~59m at 0.1% antimony and 44m at 0.1% antimony.

Both big hits where grades are above the average grades that make up the current biggest antimony resource in the USA, the ~$4BN Perpetua Resources project.

Perpetua’s project has has average grades of ~0.06%-0.07% antimony.

(Source)

SS1 still has around 30 holes submitted with this re-assy program, so we should continue to see these come through toward the end of the year.

(Source)

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.

On top of this, JPMorgan recently invested US$75M into Perpetua Resources, the first investment from its $1.5TN (yes trillion with a T) security and resilience fund. (source)

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

(Source - SS1 announcement)

What’s next 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 is now in uncharted territory having recently spent time above US$50 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 is working towards a “potential maiden antimony mineral resource”.
• 🔄 SS1 resource update - SS1 is drilling its project right now.
• 🔄 SS1 met test work results - SS1 is also working on this right now.