Highlights

  • Sun Silver shares climbed 7.01% to AUD 1.45 on 15 April 2026 following a project update.
  • The company appointed global engineering firm Ausenco to lead development studies.
  • Work will support a maiden Scoping Study targeted for H2 2026.
  • Maverick Silver Project hosts 347.2Moz of contained silver and 2.25Moz of gold.
  • Favourable silver prices of approximately US$77/oz continue to support project economics.

Sun Silver Limited (ASX:SS1) shares rose 7.01% to AUD 1.45 on 15 April 2026, extending gains that have seen the stock surge 107.41% over the past year. Today’s upward movement follows the company’s latest announcement outlining progress at its flagship Maverick Silver Project in Nevada, United States, with a key engineering appointment marking a significant step toward development.

The update signals continued advancement of one of the largest undeveloped silver assets in the United States, with the company initiating a structured pathway toward future production through technical studies and project evaluation.

Company Overview and Strategic Positioning

Sun Silver Limited is an emerging precious metals company focused on advancing high-potential silver and gold assets, with its primary focus being the Maverick Silver Project. Located in a well-established mining jurisdiction in Nevada, the project benefits from proximity to existing infrastructure and nearby large-scale mining operations.

Nevada is widely regarded as one of the world’s leading mining regions, having been ranked as the top global mining jurisdiction by the Fraser Institute in 2022. This provides a favourable backdrop for project development, supported by established regulatory frameworks, skilled workforce availability, and access to mining services.

The Maverick Silver Project is situated approximately 85 kilometres from Elko, a fully serviced mining hub, further enhancing its logistical advantages.

Engineering Appointment Marks Key Development Milestone

A central highlight of the announcement is the appointment of global engineering and project delivery firm Ausenco as the lead engineering consultant for the Maverick Silver Project.

Ausenco will undertake concept-level engineering and internal scoping studies designed to support the development of a maiden Scoping Study, also referred to as a Preliminary Economic Assessment (PEA), which is targeted for completion in the second half of 2026.

The scope of work includes process design, site layout planning, infrastructure development, and cost estimation. These workstreams are intended to evaluate the feasibility of a heap leach processing pathway, a commonly used method in large-scale precious metals operations.

The engagement introduces a structured and technical approach to project advancement, focusing on defining the economic and operational parameters required for future development decisions.

Technical Expertise and Study Scope

Ausenco brings extensive experience in the minerals and metals sector, particularly in gold and silver project development. The firm provides end-to-end services ranging from early-stage studies to engineering, procurement, and construction delivery.

Its track record includes involvement in several significant projects such as the Spring Valley Gold Project in Nevada, the Las Chispas Project in Mexico, and the Eskay Creek Project in Canada. These projects span feasibility studies, economic assessments, and full-scale development execution.

For the Maverick Project, Ausenco’s multidisciplinary team will focus on key technical areas including heap and tank leach design, capital and operating cost estimation, financial modelling, and infrastructure integration within a North American context.

The study team includes experienced engineers and specialists with decades of industry expertise, aimed at delivering a comprehensive and execution-focused assessment of the project.

Collaborative Approach with Specialist Consultants

In addition to Ausenco, Sun Silver has engaged a group of specialist consultants to support various technical aspects of the project.

Mine Build will contribute to mine planning and scheduling, while Independent Metallurgical Operations will provide metallurgical testing and process input. Sunstone Environmental will oversee permitting activities and environmental baseline studies.

This collaborative approach ensures that multiple technical disciplines are addressed simultaneously, supporting a well-rounded evaluation of the project’s development potential.

Favourable Silver Price Environment Supports Economics

The advancement of the Maverick Silver Project is taking place against a backdrop of favourable silver prices, currently around US$77 per ounce.

This pricing environment plays a key role in enhancing project economics, as higher commodity prices can improve projected revenues and overall financial viability. The company noted that the current pricing environment reinforces the timing of progressing development activities.

The alignment between technical progress and favourable market conditions is a notable factor underpinning the project’s advancement.

Resource Scale Highlights Project Significance

The Maverick Silver Project represents a substantial mineral resource, positioning it among significant undeveloped silver assets.

The project hosts a JORC Inferred Mineral Resource of 237 million tonnes grading 45.5 grams per tonne silver and 0.30 grams per tonne gold. This equates to 347.2 million ounces of contained silver and 2.25 million ounces of contained gold, or approximately 539 million ounces of silver equivalent.

Importantly, the deposit remains open along strike and at depth, with additional mineralised intercepts identified beyond the current resource model. This indicates potential for further resource expansion through ongoing exploration activities.

Development Roadmap for 2026 and Beyond

Sun Silver outlined a series of planned activities aimed at advancing the Maverick Project through key development stages.

Throughout 2026, the company intends to progress mineral resource classification toward JORC Indicated status, while also pursuing resource expansion through targeted drilling programs.

Metallurgical studies will continue to refine processing pathways, particularly in relation to heap leach operations. Environmental and permitting workstreams, including hydrology and geochemistry studies, will also be advanced.

Mine planning activities, including pit optimisation studies, are expected to contribute to future development decisions.

A key milestone is the completion of the maiden Scoping Study, targeted for release in the second half of 2026. This will be followed by a Pre-Feasibility Study, which is expected to be completed in the second quarter of 2027.

Management Commentary on Project Progress

Sun Silver’s Managing Director Andrew Dornan described the appointment of Ausenco as a significant milestone in advancing the Maverick Silver Project.

He highlighted the firm’s experience in delivering precious metals projects, particularly in North America, and noted that its involvement provides confidence in the robustness of study outcomes and the pathway toward development.

The company also emphasised that the current silver price environment continues to enhance project economics and supports the timing of development activities.

What This Means for Investors?

The latest update reflects measurable progress in advancing the Maverick Silver Project toward development, supported by the appointment of a globally recognised engineering firm and the initiation of structured technical studies.

The combination of large-scale mineral resources, a defined development roadmap, and a favourable commodity price environment appears to be contributing to the positive market response observed in today’s share price movement.

With key milestones such as the Scoping Study and subsequent Pre-Feasibility Study on the horizon, market attention is likely to remain focused on execution and further technical outcomes.