Highlights

  • Sun Silver has mobilized four diamond core drill rigs to its flagship Maverick Silver Project in Elko County, Nevada.
  • The 2026 program is designed to drive a resource upgrade to JORC Indicated classification and target high-grade extensions.
  • Step-out drilling will focus on the north-west extension of the high-grade hinge zone mineralization.
  • Additional core will be collected for metallurgical test work to support future heap leach processing studies.
  • The company remains on track to deliver a Scoping Study in Q4 2026 and a Pre-Feasibility Study (PFS) in Q2 2027.

Sun Silver Limited (ASX:SS1) shares rose 6.46% to AUD 1.40 on 1 April 2026, following the official commencement of its highly anticipated 2026 drill campaign. The stock has been a standout performer over the past twelve months, gaining 89.19% as it rapidly advances one of the most significant silver deposits in the United States.

Accelerated Resource Development

The mobilization of four diamond core rigs, operated by Nevada-based contractors Wayfinder Drilling and Scion Drilling, signals an aggressive push to de-risk the Maverick Project. The dual-track program focuses on:

  1. Infill Drilling: Increasing geological confidence to upgrade the current Inferred resource to the Indicated category.
  2. Step-out Drilling: Testing the continuity of high-grade mineralization in the north-west, where the system currently remains open.

Managing Director Andrew Dornan emphasized that the four-rig setup allows the company to simultaneously advance resource growth while gathering the technical data required for imminent development studies.

World-Class Resource in a Premier Jurisdiction

The Maverick Silver Project is located in Nevada, a jurisdiction ranked as the top mining destination globally by the Fraser Institute. Situated near the prolific Carlin Trend, the project is surrounded by Tier-1 operations, including Barrick’s Carlin Mine.

The project currently hosts a substantial JORC Inferred Mineral Resource:

  • 237Mt at 45.5g/t Ag and 0.30g/t Au.
  • Contained metal of 347.2Moz Silver and 2.25Moz Gold.
  • Total Silver Equivalent (AgEq) of 539Moz.

2026-2027 Strategic Roadmap

Beyond drilling, Sun Silver is progressing through a dense period of technical milestones. The company is currently conducting baseline environmental studies, including hydrology and geochemistry, to support mine permitting.

The upcoming Scoping Study, slated for release in the final quarter of 2026, will provide the first formal economic evaluation of the project, followed by a Pre-Feasibility Study in early 2027.

What This Means for Investors?

By utilizing four rigs, Sun Silver is significantly shortening the timeline between exploration and development. The move to upgrade the 539Moz AgEq resource to "Indicated" status is a critical requirement for securing project financing and completing the PFS. Given the project's massive scale and its location in a "low-risk" jurisdiction like Nevada, the market is closely watching the Q4 2026 Scoping Study as the next major valuation catalyst.