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Sun Silver (ASX:SS1) was one of the most watched threads on HotCopper in early Tuesday trades as it unveiled a 71m hit of silver and gold.
Expressed as Silver, or Ag, Equivalent (AgEq) – Sun Silver has unveiled a further “high-grade” intercept at 71m for 113g/t AgEq down drillhole MR24-190.
Within that larger intercept was a section around 18m in length assaying higher at 305g/t AgEq from 214m depth.
“[This] inaugural drilling campaign at Maverick Springs Silver Project continues to confirm high-grade mineralisation, with hits of up to 305g/t AgEq over 18m in the north-western priority exploration area,” Sun Silver wrote on Tuesday.
HotCopper users in the announcement thread were mixed on what it meant for future price action.
“Sounds like an announcement for sake of an announcement,” user Leapa wrote.
But user Poko87 had a swift reply: “Sounds like you have missed the boat.,” they wrote, predicting the price would rise over 80cps.
(That bullishness proved short lived – shares dipped -2.7% to 72.5cps approaching the second hour of trades as the ASX is having a flat day broadly, paring off a surge out the gate.)
At any rate – Sun Silver’s existing Mineral Resource Estimate (MRE) is set for an upgrade later this year. That’s no small feat, given its resource already sits over 400Moz of silver and gold together – a number it reached just last month.
In the background, the company is also hoping to produce silver paste for the USA’s domestic solar panel manufacturing industry. Silver is, perhaps a surprising factoid for those who don’t know, the most conductive metal on earth.
SS1 last traded at 75cps.
Join the discussion: See what HotCopper users are saying about Sun Silver and be part of the conversations that move the markets.
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