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SS1 rock chip assays coming, anomalous readings to north


Published 12-JUN-2024 12:58 P.M.


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Moving quickly…

Today, our US silver Investment, Sun Silver (ASX: SS1) announced that fieldworks and a rock chip sampling program have commenced at its large 292Moz silver project in Nevada, USA.

SS1 said that the company has already encountered positive arsenic (As) readings of up to 201ppm, within silicified and oxidised outcrops at surface.

Arsenic is used as a pathfinder for silver and gold in the Carlin trend in which SS1 is operating.

These arsenic readings were encountered 1.2kms away from the existing JORC resource:

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SS1 has also awarded a geophysical gravity survey contract - so we’ve got the results of that to look forward to as well.

Drilling should get underway shortly, with the tender process completed.

What’s next for SS1?

Here is what the newsflow we expect from SS1 over the next six months:

  • 🔄 Review historical drill logs and interpret data
  • 🔄 Undertake geophysical surveys
  • 🔲 Identify prospective drill targets + announce drill program
  • 🔲 Permitting for drill programme
  • 🔲 Drilling commenced
  • 🔲 Drilling results
  • 🔲 Silver paste studies
  • 🔲 Silver paste grant funding

The ultimate goal for SS1 is to upgrade its existing resource, so there may be some infill drilling, but we hope that there will be some exploration drilling as well to grow the size of the resource as well.

  • 🔲 Upgrade Mineral Resource Estimate

At the same time SS1 will be working on its downstream processing solutions for silver paste, which will provide a potential offtake solution once the company moves through to the feasibility and development stage of the project.

If all goes well, we want to see SS1 move through to feasibility studies with strong project economics.