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Highlights
Adriatic Metals and Boab Metals advance toward production with key silver projects
Companies like Silver Mines, Sun Silver, and Andean Silver hold significant silver resources
Early-stage players including Errawarra Resources and Iltani Resources resume drilling activities
A growing segment of silver-focused companies is drawing attention on the ASX, even as the ASX 200 and All Ordinaries indexes remain relatively stable. This emerging group spans the full development spectrum—from production to exploration—amid global silver market deficits and an expanding industrial demand profile.
Current Silver Producer and Near-Term Developers
Adriatic Metals (ASX:ADT) is the sole producer currently operating on the ASX, with its Vares project in Bosnia and Herzegovina generating cashflow and producing silver equivalent material. The company is expected to transition into full commercial production shortly.
Broken Hill Mines, through a reverse takeover of Coolabah Metals (ASX:CBH), is seeking to establish itself as a silver producer via the Rasp and Pinnacles projects in Broken Hill. Though traditionally a zinc and lead region, silver is expected to contribute more than half of the project’s total output.
Boab Metals (ASX:BML) has acquired a processing plant from Sandfire Resources (ASX:SFR) to support the development of its Sorby Hills lead-silver project in Western Australia. This acquisition is aimed at streamlining the project’s timeline, with further decisions anticipated later in the year.
Advanced Projects with Defined Resources
Silver Mines (ASX:SVL) is progressing its Bowdens project in New South Wales, regarded as Australia’s most significant undeveloped silver resource. The project is in the permitting phase and is designed for multi-year production capacity.
Maronan Metals (ASX:MMA) holds the Maronan lead-silver project in Queensland, where resource updates and a scoping study are expected. The site contains both lead and silver mineralisation across a significant tonnage.
Sun Silver (ASX:SS1) controls the Maverick Springs project in Nevada, currently holding the largest silver resource on the ASX. Drilling activities have resumed to expand this resource and conduct metallurgical testing to support future development.
Andean Silver (ASX:ASL), operating in Chile, possesses a high-grade silver resource at Cerro Bayo, supported by existing infrastructure. Multiple drill rigs are active at the site to further delineate mineralisation.
Unico Silver (ASX:USL) is developing two assets in Argentina: Cerro Leon and the Joaquin project. Drilling has started at Joaquin to confirm historical estimates and update the resource base in line with modern standards.
Mithril Silver and Gold (ASX:MTH), with operations in Mexico, is advancing its Copalquin project. Two drill rigs are operating to support a forthcoming resource upgrade that includes both gold and silver metrics.
Argent Minerals (ASX:ARD) is working on the Kempfield project in New South Wales. Recent drilling extended mineralisation outside the existing resource boundary, with further work anticipated to update the overall scope.
Exploration-Focused Entrants and Early-Stage Activity
Errawarra Resources (ASX:ERW), planning a name change to West Coast Silver, is undertaking fieldwork at the Elizabeth Hill silver project in Western Australia. Although the project lacks a current resource, historical high-grade production has positioned it as a subject of interest. Drilling is scheduled to commence shortly.
Iltani Resources is progressing the Orient silver-indium project in Queensland. While no resource has been declared yet, the company has established exploration targets and has resumed drilling following the end of seasonal weather disruptions.
The increasing number of ASX-listed companies focused on silver exploration and development aligns with broader themes of industrial demand growth and sustained supply deficits. This expansion within the silver sector also complements broader portfolio strategies for those seeking diversification and exposure to resource sectors known for asx dividends.
