SS1 extends silver project area and price target increases to $4.15 per share

Published 19-JAN-2026 11:50 A.M.

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Our 2024 Small Cap Pick of the Year Sun Silver (ASX: SS1 | OTC: SSLVF) just expanded the acreage around its giant silver deposit.

SS1’s project is already 539M ounces at 71g/t silver equivalent. (source)

Today SS1 added ground to the north and south - locking up the directions SS1’s deposit could extend out into.

(source)

But also now has a lot more ground to work with when developing a development plan for the project.

Having such a large resource means the infrastructure requirements for the project to get into development will be fairly big.

Having a lot of free and accessible ground could mean SS1 can “relax” its infrastructure footprint meaning it can spread the infrastructure over a larger land area.

Just looking at the birds eye view shot of the resource, SS1 now has all of these areas to build roads, waste dumps, a processing plant etc etc..

(source)

Price target for SS1 increased to $4.15 per share…

We noticed last week SS1 MD Andrew Dornan posted a “Precious Metals - Producer” broker report from Canaccord to his LinkedIn.

Canaccord has updated the price target for their silver price assumptions.

As a result of this upgrade, Canaccord has increased its price target for SS1 by 89% to A$4.15 per share (up from A$2.20).

(source)

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 5 of them have played out in SS1’s favour:

✅ Silver price runs - Silver is now in uncharted territory at new all time highs - now at above US$85 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 also recently upgraded its resource to now sit at 539M ounces of silver equivalent.
✅ 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 continuing to drill its project right now.
🔄 SS1 met test work results - SS1 is also working on this right now.