Sun Silver Ltd Uncovers Strategic Surface Mineralisation at Maverick Springs

High-Grade Surface Samples Boost Maverick Springs Silver Project

Sun Silver Limited (ASX: SS1) has announced promising results from recent reconnaissance rock chip sampling at its Maverick Springs Silver-Gold Project, confirming high-grade silver and gold mineralisation at surface.

Surface Sampling Confirms Significant Silver-Gold Potential

Recent rock chip sampling at the Maverick Springs Project has yielded impressive results, with the highest-grade sample returning 86.9 g/t silver equivalent (AgEq), containing 51.4 g/t silver and 0.42 g/t gold, along with 1,207 ppm antimony. This antimony finding complements the recent high-grade antimony discovery at Maverick Springs that further enhances the project's value.

Several additional samples showed strong mineralisation including:

• 24.8 g/t AgEq (21.6 g/t Ag and 0.04 g/t Au)
• 23.2 g/t AgEq (12.1 g/t Ag and 0.13 g/t Au)
• 21.4 g/t AgEq (11 g/t Ag and 0.12 g/t Au)

The sampling program specifically targeted outcropping alteration zones mapped at surface, following up on rock chip anomalies identified in June. These results demonstrate that mineralisation extends to surface, potentially enhancing the project's economic profile.

"We are encouraged by the high-grade, near-surface results at Maverick Springs. The presence of mineralisation at surface provides important commercial flexibility in future studies, including the potential to generate early-stage revenue from surface material. With such a large existing resource now trending toward a from-surface model, Maverick Springs is positioned as one of the leading emerging silver projects in the United States, and well-placed to attract the attention of the US government as it seeks to secure domestic mineral supplies."

– Andrew Dornan, Managing Director, Sun Silver

Nevada's Premier Mining Location

The Maverick Springs Project enjoys a strategic location in Nevada, ranked as the #1 mining jurisdiction in the world by the Fraser Institute in 2022. The project sits just 85km from the fully-serviced mining town of Elko and is surrounded by world-class operations including Barrick's Carlin Mine.

This prime location provides excellent infrastructure access and positions the project within a region known for low-cost mining operations. For context, nearby Coeur's Rochester operation reported an average silver grade of approximately 20.6 g/t Ag in Q2 2025, demonstrating that Nevada's favourable mining conditions enable economic processing of similar grade material.

Understanding Silver Equivalent Calculations

Silver equivalent (AgEq) is a metric used to express the combined value of multiple metals in terms of silver. At Maverick Springs, the calculation uses a ratio of 85, derived from average metal prices (gold at USD$2,412.50 and silver at USD$28.40 per ounce) and projected metallurgical recoveries of 85% for both metals.

This calculation allows investors to understand the total metal value in a standardised way, especially useful when deposits contain multiple economically significant metals. The formula used is:

AgEq (g/t) = Ag (g/t) + (Au (g/t) × ((2412.50 × 0.85) / (28.40 × 0.85)))

Substantial Resource Base with Growth Potential

Maverick Springs already hosts a substantial JORC Inferred Mineral Resource of 218 million tonnes grading 42.2 g/t silver and 0.31 g/t gold, containing approximately:

• 296.5 million ounces of silver
• 2.2 million ounces of gold
• 480 million ounces of silver equivalent

Importantly, the deposit remains open along strike and at depth, with multiple mineralised intercepts located outside the current resource model. The confirmation of surface mineralization sun silver ltd's project adds a new dimension to the development potential, potentially allowing for lower-cost development options.

Strategic Significance of Antimony Discovery

The identification of antimony in the recent rock chip samples (up to 1,207 ppm) adds another dimension to the Maverick Springs Project. Antimony is classified as a critical mineral by the United States government due to its applications in defence, technology, and energy storage.

With domestic antimony production being extremely limited in the US, the potential for antimony recovery at Maverick Springs could enhance the project's strategic importance and potentially attract government interest or support. Furthermore, silver and antimony both have strategic importance for national security and industrial applications.

Future Plans and Investment Potential

Sun Silver aims to incorporate the shallow and surface mineralisation into future mineral resource modelling, potentially enhancing the project's economic profile. With high-grade mineralisation now confirmed at surface, the company is well-positioned to advance the project toward development.

For investors, Maverick Springs presents a compelling opportunity due to several key factors:

1. Established Resource Base: Already hosting a substantial silver-gold resource of 480 million ounces AgEq
2. Surface Mineralisation: Potential for lower initial capital costs with newly confirmed surface mineralization sun silver ltd's flagship project
3. Tier-1 Location: Located in Nevada, a premier mining jurisdiction with excellent infrastructure
4. Strategic Metals: Silver and antimony both have strategic importance for US domestic supply security
5. Exploration Upside: Resource remains open along strike and at depth

The recent results further strengthen Sun Silver Ltd's position as it advances one of the leading emerging silver projects in the United States, with significant potential to attract attention from both investors and government agencies focused on securing domestic mineral supplies.

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