Sun Silver (ASX:SS1) sets maiden drilling for US-Argentum

Sun Silver has been signed off to drill the first round on its mission to upgrade what already stands as one of the most noteworthy silver resources on the Australian Stock Exchange from its Maverick Springs flagship in Nevada.

Fully permitted with an Active Plan of Operations, three regional specialists are engaged to tender for imminent drilling first focusing on a high-grade northern section of the project.

Around 200 drill holes and 60,000 metres returned the 292 million ounces of silver equivalent already in place at Maverick Springs.

The newly listed company is confident it can make a heady upgrade from the largely undrilled territory, and Senior Exploration Geologist Robert Anderson and his Nevadan know-how has signed off on the pad locations, access, and infrastructure for a maiden campaign.

Sun Silver Executive Director Gerard O’Donovan said it was pleased to have released a maiden campaign tender to market and looks forward to taking the next steps toward drilling a standout asset.

“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,” O’Donovan said.

“Having Robert visit site on a number of occasions and report back on the quality of access and infrastructure confirms that we are in great position to start our drilling campaign.

“We look forward to getting our maiden drilling campaign underway and building on the exceptional foundation that already exists at Maverick Springs – with an initial focus on upgrading the Resource classification and testing extensional opportunities.”

With high safe haven and industrial demand, “poor man’s gold” is currently trading at its highest point in more than a decade, now costing metals dealers more than US$30 for an ounce of silver.

There had been earlier portents of a breakout similar to an intriguing 2011 run, and investor appetite for new drilling has caught up to the silver bugs with rising demand and precious little new supply.

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