Sunshine Silver Mining boosts mineral rights position in Idaho by 60%  

Sunshine Silver Mining & Refining (NYSE: SSMR) announced Monday it has expanded its consolidated mineral rights position in Idaho’s Silver Valley by approximately 14,100 acres, or 60%, to approximately 38,000 acres.  

Sunshine is the largest mineral rights holder in the Silver Valley, located in Shoshone County in northern Idaho, the most prolific silver district in US history. 

The company also said it is initiating a multi-year, 45,000-meter surface exploration drilling program across its expanded land position.

The program will initially target three drill-ready areas: East Sunshine, located immediately east of the Sunshine mine along strike of known mineralization, as well as Rock Creek and Pine Creek within the company’s broader land position.  

These targets provide multiple opportunities to further evaluate the potential for new discoveries across the company’s highly prospective and underexplored district-scale land package, Sunshine said, adding that it expects surface drilling to begin in the fourth quarter of this year. 

“The Sunshine Mine is already an extraordinary, world-renowned asset,” Sunshine Silver Mining & Refining CEO Heather White said in a news release. “The possibility that it may be only one part of our company’s much larger story is very exciting. We now control some 38,000 acres in one of the most important silver-yielding districts in America.” 

“We have identified three drill-ready target areas, extending from the Sunshine Mine across our broader land package,” White said. “Much of that land position has seen limited modern exploration to date, leaving significant discovery potential beyond the current Sunshine Mine footprint.” 

White said the company believes the extended land package could possibly expand the Sunshine story beyond a single mine.  

“As such, our announced multi-year, 45,000-meter surface exploration program represents a pivotal and promising step toward rigorously evaluating the district’s multiple-mine potential,” White said.  

In June, the company raised $270 million in its US initial public offering, joining a growing number of companies rushing to seize buoyant investor enthusiasm for fresh listings.  

Sunshine Silver Mining & Refining’s stock was down 6% by market close in New York on Monday. The company has a $2.3 billion market capitalization.  

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