SS1 to kick off drill program next week

Our silver Investment Sun Silver Limited (ASX: SS1) is less than a week away from kicking off its 7,500m RC drill program.

SS1 expects drilling to start on the 8th of July - so on Monday next week.

SS1 will use a mix of infill and extensional drilling, which is ultimately designed to increase its existing 292M ounce silver equivalent resource in both size and classification.

The first batch of drilling will focus on the higher grade areas SS1 has defined near the NW boundary of its resource.

We touched on the potential at that part of SS1’s resource in our last note here: SS1 finds a 6,216 g/t silver intercept. High grade target zone identified. Drilling starting in weeks…

We are hoping SS1 can replicate the high grade hits outside of the existing resource and add these to any future JORC resource update.

How does today’s news impact our SS1 Investment Memo?

Why we Invested in SS1:

Reason we Invested #2: Potential to increase an already large JORC resource
Only ~20% of SS1’s project has been explored to date. With its first round of drilling, SS1 will be looking for extensions to its current JORC resource and potential nearby targets.

SS1 is kicking off its first drill program on the project next week.

With only 20% of the project area tested and most of the drilling done years ago, we are hoping SS1 delivers results that surprise the market AND eventually lead to upgrades to SS1’s resource.

What we want to see SS1 deliver:

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

SS1 will be kicking off its drill program next week.

The key takeaway for us is that 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 exciting extensional results (outside of the existing resource).

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

Pending positive results from extension and infill drilling through RC and diamond drilling, we

The primary purpose of SS1’s drill program is to upgrade its existing JORC resource.

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?

What’s next for SS1?

7,500M RC drill Program

SS1 is currently getting set up for its maiden drill program. The next key piece of news that we want to see is some drill targets to follow.

• ✅ Permitting for drill programme
• ✅ Drilling contractor secured
• ✅ Finalise drill targets + announce a drilling plan
• 🔲 Drilling commenced
• 🔲 Drilling results