Silver Star Resources

Silver Star Resources encompasses the Texas Silver, Twin Hills, and Silver Spur mines, along with all associated mining leases and exploration permits.
Spanning approximately 247,000 hectares/610,375 acres in Queensland, Australia.

Project Location

Silver Star Resources’ mining leases (MLs) and exploration permits (EPMs) are strategically situated near the town of Texas, Queensland, along the Queensland-New South Wales border. The site is easily accessible, located just a four-hour drive from Brisbane and approximately nine hours from Sydney’s CBD.

Silver Star Resources is centred on the expansive Silver Star Project, which encompasses the historical core mines and all associated MLs and EPMs.

3D Presentation

Explore the Silver Star Resources Project

Take a deep dive into the Silver Star Resources site with our interactive 3D presentation. Click ‘View Presentation’ to explore the terrain, mining zones, and development plans in stunning detail

This substantial landholding underpins a silver-focused investment opportunity, offering early access to a fully permitted operation with significant silver reserves and strong potential for further discoveries in a highly prospective, mineral-rich region.

Silver Star Resources’ current and pending Mining Leases (MLs) and Exploration Permits (EPMs) collectively cover a land area approximately four times the size of Singapore, highlighting the vast scale and strategic significance of the company’s exploration and development footprint.

Key Highlights

Established Open-Cut Mine with Historical Production

Located in Queensland, Australia, the Silver Star Project benefits from the stability and low sovereign risk associated with operating in a well-regulated mining jurisdiction.
Situated just a 4-hour drive from a major capital city, the project offers excellent access to infrastructure, services, and labour markets, enhancing operational efficiency.
The Silver Star Project is a historical open-cut mine with a proven production record, distinguishing it from greenfield exploration ventures.
Equipped with all necessary environmental approvals in place, the project is positioned for a streamlined and efficient transition into production.
Substantial past investment in infrastructure and a history of successful operations significantly reduce both risk and time to market, making it a compelling opportunity for investors.
Supported by an experienced and robust team, the project is well-equipped to conduct further exploration and drive the operation to commercialisation and production efficiently.

Shovel-Ready with Relatively Low All-In Sustaining Costs (AISC)

Total Landholdings

Antimony, Copper, and Gold Exploration Potential

Strategic Location and Landholdings

Expanding Resource Base

Mineral-Rich Historical Tailings

The Silver Star Project offers significant potential through the reprocessing of over 1 million tonnes of historical tailings and more than 3 million tonnes of chemical heap leach stockpiles.
By leveraging advanced CIL (Carbon-in-Leach) processing techniques, these materials could yield up to 6.5 million ounces of silver, substantially boosting the project’s resources.
These stockpiles are readily accessible, providing an immediate opportunity for resource recovery and value addition.

Texas District Scale

Silver-Gold-Copper-Antimony-Zinc System

Includes an active mine lease with established infrastructure.
Turn-key heap leach operation on care and maintenance, last operated in 2019.
100% TMZ consolidation of the district.
3 x Silver +/- base metal deposits.
TMZ working towards new JORC 2012 resource calculations for Silver Spur, Mt Gunyan and Twin Hills.
Part of large, zoned polymetallic district with significant copper potential in addition to silver, lead, zinc.
TMZ / Global Ore Discovery building new district-scale understanding of mineralisation controls.
Near-resource extension targets identified to expand existing deposits. New exploration targets defined across the broader district.
New exploration targets defined across the broader district.

Why Silver Star Resources?

With a combination of rich history, infrastructure, upgraded processing, and favourable market conditions, Silver Star Resources presents a compelling opportunity. Key highlights include

A historical mine located in a world-class mining region with low jurisdictional risk, poised to resume production with a significant amount of the critical infrastructure already in place.
An optimisation program is scheduled to begin in August 2024 and be completed in early 2025, aiming to significantly improve existing resources and mine economics. A supporting drilling program is planned for Q4 2024 to upgrade resources along strike, at depth, and within current stockpiles.
Significant historical geological data, previously unrecorded, will be upgraded to JORC standards, substantially increasing the current resource estimates.

Significant historical mineral-rich tailings, previously processed through heap leaching with less than 50% silver recovery, that can be reprocessed and blended through the upgraded processing plant using the CIL process. This upgrade is expected to increase silver recovery rates from below 50% to potentially over 90%.
We anticipate the price of silver to continue its upward momentum in the coming years, driven by current supply being outstripped by industry demands. This strong correlation to market trends positions our team well for continued growth. Additionally, we expect the share price of the company to be directly correlated to our silver resources and the future silver price, enhancing shareholder value.

Historical Timeline

1892

Birth

Silver spur mine is born

Silver Spur Mine officially opens, focusing on silver and lead production producing over 2 Million ounces of silver between 1892-1913

Early 1900's

Initial

Initial survey

Initial geological surveys indicate base metal deposits in the Mt. Gunyan area.

Prospecting and early discoveries at the future site of the Texas Silver Mine.

1930's

Exploration

Silver spur mine is explored

Detailed exploration at Mt. Gunyan identifies substantial deposits of copper & zinc.

1932

Discovery

Silver & lead discovered

Significant silver & lead deposits discovered at the future site of Texas Silver Mine.

1942

Development

Development begins

Development begins at Mt. Gunyan Mine, with initial copper extraction and construction of key site infrastructure to support future mining operations

1950's - 1960's

Expansion

Zinc & lead expansion

Mt. Gunyan Mine expands operations to include zinc and lead.

Silver Spur Mine experiences a resurgence in production.

1969

Openning

Official opening of Texas silver mine

Texas Silver Mine officially opens, bringing modern processing facilities and enabling large-scale silver and base metal production across the district

1970's

Peak

Peak production

Texas Silver Mine enters peak production, delivering strong silver and base metal output and playing a key role in the local mining economy

1980's

Gold

Gold discovery

Discovery of significant gold deposits near Twin Hills prompts exploration.

Mt. Gunyan Mine closes due to economic pressures.

1990's

Plant

Crushing plant

A modern crushing plant is commissioned on site, increasing ore processing efficiency and supporting expanded mining operations

2010's

Closure & restart

Mine was closed & restarted

Temporary closure and reopening of Twin Hills Mine due to poor Silver prices.

Feasibility study conducted at Mt. Gunyan for potential restart.

2018

Expansion

Further expansion

Expansion projects commence at Twin Hills, including infrastructure upgrades and new exploration aimed at extending the mine’s operational life

2020's

- Mining + Exploration

Mining ceased, exploration continued

Due to low silver prices Mining operations cease with a focus on exploration initiated at Mt. Gunyan.

2024

Acquisition

Acquired by Silver Star Resources

The Texas Silver mine and assets acquired by Silver Star Resources

Promising Exploration Targets

Silver Star’s new geological deposit models and recent metallurgical test work have revealed several promising drill targets within the underexplored Texas District, which may represent extensions of known mineralisation.

The Texas Silver Base Metal Project encompasses a historically high-grade silver-base metal mine, offering strong geological foundations within the project boundaries.

Historical production from the Silver Spur Mine totals 2.19 million ounces of silver, extracted at an impressive average grade of 800 g/t Ag, along with notable quantities of zinc, lead, copper, and byproduct gold from ~100 kt of ore.

Previous estimates by Macmin Silver Ltd in 2004 identified a JORC-compliant, multi-million-ounce silver-equivalent resource, highlighting the remaining sulphide mineralisation’s untapped value.

Cornerstone data suggests the Silver Spur mineralisation originated from a hydrothermal and structurally controlled epigenetic orogen, associated with bonanza-grade silver and gold—a key target for further exploration.

Ongoing work aims to clarify the controls on mineralisation formation, supporting the identification of additional high-potential zones within the broader Texas Silver Project area.

Despite the progress, multiple compelling exploration targets across the district remain untested, presenting significant upside for future drilling.

Discovery and

Early Years

The discovery of silver in Queensland dates back to the late 19th century. Texas Silver Mine, located near the town of Texas, Queensland, and the Silver Spur Mine, situated nearby, were among the most notable silver mining operations in the area. Prospectors, driven by the allure of precious metals, ventured into the region, leading to the discovery of rich silver veins. The Texas Silver Mine was discovered in the 1890s, marking the beginning of a silver rush that attracted miners and investors from across Australia and beyond. The Silver Spur Mine followed shortly after, further contributing to the burgeoning silver mining industry in Queensland.

Development and

Peak Production

The development of the Texas Silver Mine and the Silver Spur Mine was rapid, with the construction of infrastructure to support large-scale mining operations. These mines were equipped with advanced mining technology of the time, including steam-powered drills and ore crushers, which significantly increased production capacity.

By the early 20th century, the Texas Silver Mine and the Silver Spur Mine reached their peak production levels. The Texas Silver Mine was renowned for its high-grade silver ore, which yielded substantial quantities of the precious metal. Similarly, the Silver Spur Mine became famous for its rich silver deposits and efficient extraction methods

Developments Over the Last 50 Years

In the 1970s and 1980s, there were several efforts to revive the Texas Silver Mine and the Silver Spur Mine. Advances in mining technology and improved economic conditions led to renewed interest in these historic sites. Exploration companies conducted extensive geological surveys to identify further silver deposits and assess the feasibility of restarting operations but the silver price continued to lag and the cost to extract the resources outweighed the commercial viability.

Future Prospects

The Texas Silver Mine is currently in care and maintenance and can be shovel-ready in a very short period of time. With all necessary approvals in place and advancements in mining technology, the project is poised for a significant resurgence and strong future exploration potential. Rising silver prices further enhance the economic outlook, making the potential for future development even more compelling.

Today, the increasing value of silver due to the massive growth of solar and cutting-edge technology, is driving renewed interest in these historic sites. Advanced mining technology promises more efficient and cost-effective extraction processes, making it feasible to access previously uneconomical deposits. This renewed interest, driven by favourable market conditions and technological advancements, positions the Texas Silver and the Silver Spur mines for a robust comeback, contributing significantly to the economic prosperity of the region.

Innovative mining techniques and improved extraction methods have proven successful in reprocessing tailings and low-grade ore from previous operations. Blending these with existing in-ground ore resources offers a substantial opportunity to increase production and recovery rates. The future prospects for these mines are indeed promising, heralding a new era of growth and development in Queensland’s rich mining history.