SS1 hits silver and antimony extensions to its 539M ounce silver equivalent resource

Our US silver Investment Sun Silver (ASX: SS1 | OTCQX: SSLVF) just hit extensions to its giant 539M ounce silver equivalent JORC resource.

(The largest pre-production primary silver resource in the USA and on the ASX)

The main hit from today was a 98.3m intersection with an average grade of 120.3g/t silver equivalent.

The hole was from outside SS1’s current resource AND at almost 1.7x the average grade of SS1’s current resource.

(SS1’s resource has an average grade of 71g/t silver equivalent)

(source)

In the same hole SS1 also assayed 86.9m at 0.1% antimony which adds to the ~50.3m at 0.11% antimony hit from earlier this month…

For context, ~US$4.4BN capped Perpetua Resources is developing the USA's only antimony reserve at a lower average grade of ~0.06% antimony.

See our Perpetua vs SS1 deep dive here: SS1’s project could also host a giant antimony resource (Critical military metal to go with its giant silver deposit)

SS1's antimony is NOT in the 539Moz resource and has hinted in the past that it could work toward a potential maiden antimony resource.

(source)

We think the antimony could become a big part of the SS1 story because it could unlock US government funding pathways for the project.

Silver and antimony are BOTH on the US critical minerals list, and the US government has been fast tracking and funding domestic critical minerals projects.

For example, ~US$4.4BN Perpetua received ~US$2.9BN in funding from the US government BUT its deposit is a primary gold project… the antimony is considered a “credit”...

That would be the same for SS1 IF it can put together an antimony resource of its own.

SS1 MD Andrew Dornan recently presented at Digger & Dealers and in his presentation he mentioned the antimony (comparing it Perpetua which is lower grade) and that drilling is to continue right through the year.

Sun Silver - Andrew Dornan, Managing Director - Diggers & Dealers Mining Forum

SS1 has a scoping study due by “late 2026”, “early 2027”

SS1 also updated its timeline - the maiden Scoping Study is now targeted for late 2026 into early 2027, with a Pre Feasibility Study to follow in 2027, alongside further resource upgrades.

In the background, SS1 still has four rigs turning at Maverick, feeding a maiden Scoping Study due Q4 2026.

(source)

What's next for SS1?

🔄 Drill results from the current program

With four rigs turning, we should see a steady flow of results.

The infill drilling for the resource upgrade and the one we are looking out for the most - the extensional drilling to the north-west of the existing resource:

(source)

🔲 Scoping study - Q4 2026/Q1 2027

The maiden scoping study will pull together the resource, met testwork, and mine planning into an economic picture.

This is the one we think could change the way the market views SS1’s projects (finally giving it some project economics context)

Recently SS1 confirmed Ausenco (a global engineering company) will be used as lead engineering consultant who will help run studies for the Scoping Study/Preliminary Economic Assessment due by the end of the year.

🔲 Maybe a maiden antimony resource?

We have written in the past about how SS1’s deposit may also host a giant antimony resource to go with the silver.

IF a maiden antimony resource can be defined, we think it would be a game changer for SS1’s deposit AND could open up US government funding pathways for developing its project.

See our deep dive on the antimony potential here: Antimony could unlock government funding for SS1