New IPO Sun Silver has engaged with three local contractors to tender for an upcoming drilling program at Maverick Springs
A fully active plan of operations (PoO) has been approved by the Bureau of Land Management in Nevada
Senior exploration geologist Robert Anderson has been on site assessing access conditions, infrastructure, and drill planning requirements
Special report: Three contractors are tendering to commence drilling imminently in the high grade northern zone at Maverick Springs, Sun Silver’s cornerstone asset in Elko County, Nevada.
Sun Silver (ASX:SS1) listed on the ASX ahead of schedule last week following a highly successful $13m IPO, bringing to market the globally significant Maverick Springs silver-gold project.
The project is within the tier 1 jurisdiction of Nevada, just off the southeast end of the Carlin Trend belt, home to monster gold-silver deposit including Kinross’ 3.7Moz Bald Mountain gold mine.
Maverick Springs’ large, continuous body of silver-gold mineralisation starts ~130m below surface and is 2.4km long, up to 1.2km wide and between 30 – 110m thick.
SS1 believes there’s scope to significantly increase the current resources which sit at 292Moz at 72.4 g/t (175.7Moz silver, 1.37Moz gold).
Plan of Operations in place
The explorer’s plan is to use the funds from the raise for infill drilling, resource expansion and mining studies.
Three local contractors, all based out of Elko with experience operating in Nevada – specifically the Carlin Trend – have been engaged to tender and are available immediately.
A fully active Plan of Operations (PoO) approved by the Bureau of Land Management in Nevada is currently in place for the Maverick Springs project, which enables the company to swiftly move towards kicking off its drill campaign upon completion of the tender and drill targeting.
Sun Silvers senior exploration geologist Robert Anderson has recently been to Maverick Springs assessing access conditions, infrastructure, and drill planning requirements.
Drilling to test expansional opportunities
“Utilising existing active drilling approvals from the BLM and focusing on using local, experienced and readily available contractors who are only located 85km from site has been a key focus for Sun Silver to expedite the drilling process,” SS1 executive director Gerard O’Donovan says.
“Maverick Springs is a standout asset, located in the heart of one of the world’s premier mining jurisdictions, we look forward to putting more holes in the ground to upgrade the resource classification and test expansional opportunities.”
This article was developed in collaboration with Sun Silver, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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