SS1 hits large extension to silver mineralisation

ASX:SS1

Published 22-AUG-2024 10:30 A.M.

4 min read

Shares Held: 3,810,000

Options Held: 0

Announcement

Trust Centre

Historical data reviews have revealed up to 1% antimony (Sb)??

More antimony at SS1’s project?

What we found particularly interesting about today’s announcement is that Historical data reviews identified Antimony (Sb) assay results greater than 10,001ppm (1%) Sb over 1.52m in hole MR08-184.

Antimony is definitely a hot topic at the moment.

Turns out antimony has many critical uses in military and defence.

But the US has no domestic supply.

...and a few days ago China announced “export controls” on antimony - it has just become one of the most in demand critical minerals...

Read more about SS1’s antimony potential in our latest not on the company:

SS1 announced antimony potential… weeks before antimony became “cool”.

How does this news impact our SS1 Investment Memo?

This news impacts two of our objectives from our SS1 Investment Memo.

Objective #1: Drilling to upgrade existing JORC resource

We want to see SS1 run geophysical surveys, identify new drill targets and then run an infill/extensional drill program to upgrade its JORC resource.

Milestones
✅ Geophysics survey
✅ Drill permits granted
✅ Drilling commenced
🔄 Drilling assays

Source: “What do we expect SS1 to deliver” - SS1 Investment Memo 18 May 2024

SS1 is doing both infill and extensional drilling - this means we should get a mix of strong expected results (where the existing resource sits) and more interesting extensional results (like today’s which fell outside of the existing resource).

This leads into Objective #2 - the primary purpose of SS1’s drill program is to upgrade its existing JORC resource.

Objective #2: Upgrade 292m Oz silver equivalent JORC resource

Pending positive results from extension and infill drilling through RC and diamond drilling, we want to see SS1 release an upgraded JORC Mineral Resource Estimate with more silver and gold ounces in it, and more of the resource in higher confidence categories.

Milestones
🔲 Release upgraded JORC Resource

Source: “What do we expect SS1 to deliver” - SS1 Investment Memo 18 May 2024

Again, given the drilling is infill and extensional, we could see an increase in size and classification.

🎓 To learn more about JORC resources check out our educational article here: What is a JORC resource? How does a company define a resource?

How’s the silver price tracking?

The results come at an opportune time as silver demand continues to surge, particularly from the rapidly growing solar energy sector.

Silver is a crucial component of photovoltaic cells, and forecasts show exponential demand growth as countries like the US ramp up solar capacity to meet renewable energy targets.

The US government has implemented policies like tariffs on Chinese solar imports and tax incentives under the Inflation Reduction Act to support domestic solar manufacturing.

As we outlined in our SS1 Investment Memo, this creates strong tailwinds for SS1 as a potential US-based supplier of silver and value-added "silver paste" products for solar panels.

It looks like silver is starting to move higher over the last couple weeks:

We hope this price momentum continues to add to the in-ground value of SS1’s large silver resource in the US, and further underpins its valuation.