Sun Silver Secures 62M Litres Annual Groundwater to Unlock Drilling at Maverick
Key Takeaways
- The Nevada Division of Water Resources has granted Sun Silver Permit 94658 for 50 acre-feet per year (AFY) of groundwater — approximately 62 million litres annually — dedicated to exploration and development at the Maverick Silver Project.
- The 50 AFY entitlement covers current and near-term drilling and development needs, while a separate 2,000 AFY application targeting future mineral processing requirements remains pending.
- Maverick hosts a JORC Inferred Mineral Resource of 237.3Mt at 45.5 g/t Ag and 0.30 g/t Au, containing 347.2Moz of silver and 2.25Moz of gold (539Moz AgEq), with the deposit remaining open along strike and at depth.
- Nevada was ranked the No.1 mining jurisdiction globally by the Fraser Institute in 2025, and the project sits proximal to the Carlin Trend, 85km from Elko, near Barrick's Carlin Mine.
- Sun Silver is advancing drilling, metallurgy, mine planning, environmental studies, and infrastructure permitting in parallel, with the 2,000 AFY water application representing the next key permitting milestone to watch.
Sun Silver secures 50 AFY groundwater right at Maverick Silver Project
The Nevada Division of Water Resources has granted Sun Silver Permit 94658 for 50 acre-feet per year (AFY) of groundwater at the Maverick Silver Project. This equates to approximately 62 million litres of groundwater annually, providing a dedicated water supply to support ongoing exploration and project development activities. The annual entitlement represents an operational de-risking milestone, giving the company significant flexibility to scale or accelerate drilling and associated development work with limited constraints on water availability. This water right is separate from—and complementary to—Sun Silver’s pending 2,000 AFY application, which targets future mineral processing requirements. ASX: SS1; OTCQX: SSLVF.
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What the water right delivers
The granted entitlement provides Sun Silver with 50 acre-feet per year of groundwater, supporting drilling and other project development activities at Maverick with operational flexibility. The annual, dedicated nature of the water supply means the company can scale or accelerate exploration activities as required, with limited constraints on water availability. This permit represents another step in systematically de-risking the Project and securing key infrastructure required to support its continued advancement toward potential development.
Key details:
- Permit number: 94658
- Volume: 50 AFY (~62 million litres per year)
- Regulator: Nevada Division of Water Resources
- Use: Ongoing exploration and project development, including drilling
Andrew Dornan, Managing Director
“The granting of this 50 acre-feet per year water right is another important step in systematically de-risking and advancing the Maverick Silver Project. The annual entitlement provides approximately 62 million litres of dedicated groundwater each year, giving us substantial flexibility to scale our exploration and project development activities as required with limited constraints on water availability. Importantly, this water right complements our separate application for 2,000 acre-feet per year to support future processing requirements. Together, these initiatives form part of our broader strategy to progressively secure the key approvals and infrastructure required to advance Maverick toward development.”
Understanding water rights in Nevada mining
In arid jurisdictions like Nevada, securing groundwater entitlements is a critical, often gating, piece of mine infrastructure and permitting. Water rights are essential both for exploration (drilling programs, environmental baseline studies, camp operations) and for future processing operations if a project advances to development. The granted 50 AFY entitlement covers current and near-term exploration and development needs, while the pending 2,000 AFY application targets the significantly larger water volumes required for future mineral processing. Securing water early in the development pathway removes a common bottleneck and de-risks the project’s advancement by locking in a key piece of infrastructure before it becomes a constraint on activity or permitting timelines.
Broader water strategy and pathway to development
The newly granted 50 AFY permit provides water to support Sun Silver’s current and near-term exploration and development activities, while the company separately progresses its application for 2,000 acre-feet per year of groundwater for future mineral processing requirements. This application remains pending, not granted. Together, these water entitlements are intended to provide a clear pathway to securing sufficient water capacity across the various stages of Maverick’s advancement, from continued exploration through to potential future development and processing operations.
Sun Silver continues to advance multiple workstreams at Maverick in parallel:
- Resource expansion and infill drilling
- Metallurgical testwork
- Mine planning
- Environmental and hydrological studies
- Infrastructure planning and permitting
The Maverick Silver Project in context
The Maverick Silver Project is located 85km from Elko, Nevada, surrounded by several world-class gold and silver mining operations including Barrick’s Carlin Mine. The Project sits proximal to the prolific Carlin Trend. Nevada was ranked the No.1 mining jurisdiction in the world by the Fraser Institute in 2025, underpinning the jurisdiction’s attractiveness for exploration and development investment. Maverick hosts a JORC Inferred Mineral Resource of 237.3Mt grading 45.5 g/t Ag and 0.30 g/t Au for 347.2Moz of contained silver and 2.25Moz of contained gold (539Moz of contained silver equivalent). The deposit remains open along strike and at depth, with multiple mineralised intercepts located outside the current Resource constrained model.
| Metric | Silver (Ag) | Gold (Au) | Silver Equivalent (AgEq) |
|---|---|---|---|
| Grade | 45.5 g/t | 0.30 g/t | 71 g/t |
| Contained metal | 347.2 Moz | 2.25 Moz | 539 Moz |
Note: 237.3Mt at a 30 g/t AgEq cut-off. Refer to ASX announcement dated 9 December 2025. AgEq ratio of 85 based on stated gold/silver pricing assumptions.
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What comes next
Sun Silver continues to advance drilling, metallurgy, technical studies, permitting and infrastructure planning in parallel at Maverick. The pending 2,000 AFY application for future processing requirements represents the next key water milestone to watch. The company is systematically progressing multiple de-risking workstreams as it advances the Project toward potential development.
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