Sun Silver Limited (ASX: SS1; OTCQX: SSLVF) reported new assay results on August 19, 2026 from its ongoing 2026 drilling program at the Maverick Silver Project near Elko, Nevada. The standout result, from hole MR25-235, returned 98.3 meters grading 120.3 grams per tonne silver equivalent (65.7 g/t silver and 0.67 g/t gold), including a higher-grade 47.6-meter section at 200.6 g/t silver equivalent. The same hole also intersected mineralization outside the boundaries of the project’s current Mineral Resource, including a narrow but very high-grade interval running 811.7 g/t silver equivalent, pointing to potential for the resource to grow beyond its current footprint.
A Multi-Metal System
Alongside the silver and gold, the drilling confirmed a consistent zone of antimony mineralization running through much of the same interval, 86.9 meters averaging 0.10% antimony, with individual assay intervals running as high as 1.23%. A second hole, MR26-226, returned a supporting result of 26.3 meters at 52.6 g/t silver equivalent. Silver equivalent (AgEq) figures combine a hole’s silver and gold content into one number; Sun Silver calculates its AgEq using a three-year historical average of $2,433 per ounce gold and $28.50 per ounce silver, along with an assumed 85% metallurgical recovery for both metals. That’s a different basis than some other companies use, which sometimes rely on current or forward-looking price assumptions instead, so readers comparing AgEq figures across companies should check what pricing basis each one is using.
Testing the Historical Data
One notable piece of this release is technical rather than about grade: hole MR25-235 was deliberately drilled to twin, meaning drilled in nearly the same location as, a historical hole completed by a previous operator, Angst, in 1990. Comparing the two data sets is a way for Sun Silver to check whether decades-old assay data in the project’s historical database can be trusted for use in current resource estimates. The company said the comparison showed a broadly similar mineralized interval in both holes, with the modern hole trending slightly higher-grade, which it attributes partly to modern drilling and assay standards and partly to a roughly 20% downward adjustment the company has applied to the historical Angst gold data to account for uncertainty in those older results. The new hole also picked up the antimony zone the historical hole never tested for, since only silver and gold were analyzed at the time.
About the Project and Resource
Maverick sits along Nevada’s Carlin Trend, near several major gold and silver operations including Barrick’s Carlin Mine, in a state the Fraser Institute ranked the world’s top mining jurisdiction in 2025. The project’s current Mineral Resource, classified as Inferred, the lowest-confidence resource category, and reported under Australia’s JORC Code (the Australian counterpart to Canada’s NI 43-101, requiring similar independent sign-off by a named Competent Person), totals 237 million tonnes grading 45.5 g/t silver and 0.30 g/t gold, containing an estimated 347.2 million ounces of silver and 2.25 million ounces of gold. Because the entire resource remains in the Inferred category, none of it has yet been upgraded to the higher-confidence Indicated or Measured categories, a step the company says its current infill drilling is specifically aimed at achieving. Sun Silver is targeting a Scoping Study, an early-stage economic study, for late 2026 or early 2027, with a more advanced Pre-Feasibility Study targeted for 2027, both timelines contingent on how the current drilling program progresses.
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Editorial Disclosure
This article is based on a press release issued by Sun Silver Ltd. on August 19, 2026, distributed via PRNewswire. Securities discussed: Sun Silver Ltd. (ASX: SS1; OTCQX: SSLVF). Mining Markets Report has not received compensation from Sun Silver, its management, investor relations representatives, or any third party for this coverage. No staff member or principal of Mining Markets Report holds a position in this security at the time of publication. Drill intercept grades reported here are individual exploration results; mineralization identified outside the current Mineral Resource does not itself constitute a resource estimate. The company’s entire Mineral Resource is currently classified as Inferred under the JORC Code, the lowest confidence category in that classification system, and there is no assurance any portion will be upgraded to a higher confidence category or ultimately proven economic. Silver-equivalent figures are calculated using a stated three-year historical average metal price and assumed metallurgical recoveries, which may differ from current market prices and actual achievable recoveries. Statements regarding future infill and step-out drilling, resource classification upgrades, metallurgical testwork, permitting, and the timing of a Scoping Study or Pre-Feasibility Study are forward-looking and involve known and unknown risks; actual results and timelines may differ materially. References to this company are for market context and analytical purposes only and do not constitute an investment recommendation. All securities carry investment risk including possible loss of capital. Coverage on Mining Markets Report is for informational and educational purposes only; Mining Markets Report is not a registered investment advisor. Readers should conduct their own due diligence and consult a qualified financial advisor before making investment decisions.
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