SS1 sun silver limited

Hi Severi,There are quite a few sources of information about the...

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    Hi Severi,

    There are quite a few sources of information about the Maverick Springs project, from before and after Sun Silver taking it on. Below is a summary of the open pit study by Armitage and Millar circa 2022. (I have added a link to their technical report at the bottom of post - enjoy the reading). You'll notice about the table below the significant increases in silver and gold prices since reporting, also no reference to Antimony. Also obviously, a number of subsequent high grade and thick intercepts are not included in this report. I also found quite a few interesting snippets from the report in relation to further exploration:

    "25.1 Risks and Opportunities

    The inferred resource is based on the available information and although it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated or Measured Mineral Resources with infill drilling, it is not guaranteed.

    The mineralisation at the Property covers approximately 20% of the Property area and outside the mineralised envelope, the drilling is sparse to non-existent. The mineralisation itself is open to the north and south and is not closed off to the east or west through the central part of the deposit. There is a large exploration potential over the property and there is the potential to extend and upgrade the existing resource.

    The deposit is open along strike and at depth, outside the current optimised pit shell. Higher commodity prices in the future could result in this mineralisation being amenable to underground mining methods. therefore it remains a priority exploration target."

    And,

    "Armitage and Millar considers that the Deposit represents a low-sulphidation Au-Ag epithermal mineralising system. If this is the case, then there is the potential for vertical to sub-vertical vein sets to extend above the current mineralised wireframe. These vein sets would not have been identified in previous drilling on the Property, as most of the drilling completed to date was vertical in nature. Armitage and Millar believe there is potential to extend the resource above the current mineralised wireframe with appropriate angled drilling. If mineralisation is found above the current mineralised wireframe it could have a significant impact on the strip ratio of any future open pit,"

    Table 2.2022 Maverick Springs Open-Pit Optimization Parameters

    ParameterUnitIn-Pit Maverick Springs
    1Gold Price$US per ounce$1,650
    2Silver Price$US per ounce$22
    3Gold RecoveryPercent (%)75
    4Silver RecoveryPercent (%)85
    5Pit SlopeDegrees45
    6Strip RatioWaste:Mineralisation5.8:1
    7Mining Cost$US per tonne mined$1.90
    8Processing Cost and G&A$US per tonne milled$12.50
    9Mining DilutionPercent (%)5%
    10Mining RecoveryPercent (%)95%
    11Cut-Off Gradeg/t Au EQ0.3
    12Cut-Off Gradeg/t Ag EQ22.5

    The Technical Report, filed on SEDAR on February 4, 2022, was completed by Allan Armitage, PhD., P. Geo., and Rohan Millar, B.Sc., P. Geo. of SGS Canada Inc. with an effective date of October 7, 2021. The Technical Report includes an updated Mineral Resource Estimate (the "MRE"), which incorporates an additional 52 drill holes (Figure 2 and 3) drilled since the historical 2004 Mineral Resource Estimate by Snowden Mining Industry Consultants Inc. (the "2004 MRE")(5)and is constrained by a conceptual Whittle Pit (Figure 4.).

    https://sedar-filings-backup.thecse.com/00050741/2210191408155168.pdf

 
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