Silver explorer Sun Silver (ASX:SS1) has announced its discovery of a fresh surface outcrop system at Maverick Springs, prospective for silver and gold mineralisation.
The company’s geotechs made the discovery some 1.2km from the boundaries of the existing resource on-site. Rockchip sampling at the target returned high counts of arsenic, an indicator anomaly for silver and gold explorers.
In turn, the company noted on Wednesday all of its drilling tenders to get the rigs on-site are received with approvals in place for the company’s maiden drill run.
While it’s still early days, promisingly, the new outcrop target is placed along strike with existing mineralisation. Targets are located outside the existing resource shell; the furthest away is 1,200m.
In the world of mineral geology, given how mineral systems can form in folds and crevices along relatively long distances, the find is being taken as evidence of a prospective underground system.
The company reported on Wednesday its new outcrop target of interest shows silicified iron-infused limestone.
Notably, the stock already boasts an eye-catching JORC MRE of 292Moz of gold and silver together, with silver taking the lion’s share by far. That grade comes in at 72.4g/t silver equivalent.
While there’s no evidence yet the company’s new outcrop target can add to that resource, it’s a trend worth exploring – which the company is now gearing up to execute.
“The exploration team has made significant progress, leading to an exciting discovery beyond the current resource boundary at Maverick Springs,” Sun Silver Executive Director Gerard O’Donovan.
“Elevated pathfinder elements such as arsenic, with samples reaching up to 216ppm and extending up to 1.2km away from the resource boundary, instil confidence in the expansion potential.”
O’Donovan also highlighted an upcoming electromag survey on-site to further discover fresh targets, additional to the existing mineralisation.
“Additionally, we eagerly anticipate the mobilisation of Zonge International in the coming weeks to carry out gravity surveys on the property,” he added.
SS1 last traded at 49cps.