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Texas Silver Project

Advancing a Major Australian Silver District Toward Production

The Texas Silver Project pairs a defined 26.55 Moz AgEq hard-rock resource with existing infrastructure and accessible surface material, ready to be put to work.

Project Snapshot

The Project at a Glance

A look across the Texas Silver Project — its scale, existing infrastructure and surrounding district.

A Foundation Already in Place

Site infrastructure already exists across the Texas Silver Project, materially reducing restart complexity compared with a greenfield build. Stage 1 works have advanced key readiness activities — including pump installation, site dewatering, infrastructure stabilisation and environmental compliance programs — supported by an established site footprint of workshops, core sheds, staff amenities and accommodation. An indicative depreciated replacement cost assessment values this existing plant, infrastructure and site works at approximately A$17.5 million, against a full replacement cost of A$42.7 million — capital the Company does not need to spend again to reach production.

700+ Historical Drill Sites

The Texas Silver Project is supported by an extensive historical drilling database of more than 700 drill sites and over 40,000 metres of data, providing a strong technical foundation for resource validation. Most historical drilling was shallow, focused to around 100 metres depth, leaving deeper mineralisation largely untested. SSR's own 2025 drilling campaign — nine diamond core holes totalling 2,250 metres — supported the current 26.55 Moz AgEq JORC Resource. A further ~1,700 air-core holes (approximately 85,000 metres) are planned across Stages 3–5, funded progressively from staged production cash flow.

Valuation Re-Rating Potential

Development-stage, in-ground resources are typically valued by the market at around US$2–5 per ounce, while producing assets commonly trade at US$10–25 or more per ounce. On this framework, the Texas Silver Project's implied valuation has the potential to move from approximately US$65–160 million today to a range of US$320–800 million as production is established and scaled. With a current resource base of ~32 Moz AgEq and exploration potential toward 100 Moz AgEq, the project presents a longer-term pathway toward a US$1–2.5 billion valuation profile.

Restart Readiness

Over the past 18 months, Stage 1 works have advanced the project toward restart readiness — including the removal of more than 150 million litres of water from site, addressing one of the project's key environmental constraints. With Stage 1 largely complete, the project is positioned to move into Stage 2 surface processing, targeting early cash flow from an initial capital raise of approximately A$10 million.

Project Overview

Existing Value. A New Development Pathway.

Unlike a greenfield project, Texas Silver starts with more than a century of mining, drilling and infrastructure already in place, reducing the time and capital required to reach production.

The Texas Silver Project combines the Twin Hills, Mount Gunyan and Silver Spur mining leases with extensive surrounding exploration tenure, built on a foundation of established infrastructure and drilling data most restart opportunities in Australia can’t match. Silver Star Resources is developing this existing foundation through a disciplined staged pathway, beginning with surface-processing opportunities before transitioning toward long-term hard-rock mining.

01

Surface Inventories

Material already mined and located on surface, available to support earlier-stage processing.

02

Existing Infrastructure

Plant, buildings, roads and site works already in place across the project area.

03

Defined Hard-Rock Resource

A JORC resource forming the foundation of the project's longer-term production strategy.

04

District-Scale Exploration Potential

Extensive surrounding tenure supporting further growth beyond the existing resource.

Location & Tenure

Strategically Located in Southern Queensland

The Texas Silver Project is located approximately 10 kilometres east of Texas near the Queensland–New South Wales border. The site is accessible by road and is located approximately four hours from Brisbane and nine hours from Sydney.

8872 Stanthorpe–Texas Road, Silver Spur, Queensland 4385, Australia

Brisbane
Queensland
Texas Silver Project
Silver Spur, QLD
Sydney
New South Wales
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Existing Infrastructure

Restart-Ready Infrastructure

Existing plant, buildings, roads and site infrastructure distinguish the Texas Silver Project from a greenfield development. While individual assets remain subject to assessment and recommissioning, the existing site footprint may reduce replacement requirements, restart complexity and development timelines.

Infrastructure Photo
Resource & Surface Inventory

Defined Resources and Accessible Surface Material

The project combines a defined hard-rock JORC resource with accessible material already located on surface. The surface inventory provides a lower-complexity starting point because the material has already been mined and placed within the project area — creating a potential pathway into early processing before the project progresses toward long-term hard-rock operations.

26.55 Moz AgEq

Hard-Rock Resource

Supporting the project's longer-term mining strategy.

6.35 Moz AgEq

Surface Inventory

Supporting the project's early-stage processing pathway.

Heap-Leach & ROM Material

Material contained within existing heap-leach pads and run-of-mine stockpiles, forming part of the accessible surface inventory.

View Detailed Restart Strategy →

Exploration Potential

Growth Beyond the Existing Resource

The existing deposits form part of a broader historically mineralised district containing numerous mines, workings and underexplored targets. The project is supported by more than 700 historical drill sites and over 40,000 metres of drilling information. Much of the historical drilling focused on shallow mineralisation, leaving deeper and regional potential to be evaluated through modern geological interpretation and targeted exploration.

700+
Historical drill sites
40,000+ m
Historical drilling information
The Wider Texas Mineral Field Regional Drone Flyover
Regional Drone Flyover

The Wider Texas Mineral Field

The broader Texas mineral field provides a regional setting for continued exploration beyond the existing resource areas.

Twin Hills & Mount Gunyan Workings Historical Workings Photo
Historical Workings Photo

Twin Hills & Mount Gunyan Workings

Historical workings demonstrate the district's established mining history and provide context for further exploration targeting.

Historical Drill Core & Geological Records Drill Core Photo
Drill Core Photo

Historical Drill Core & Geological Records

More than 40,000 metres of historical drilling provide geological information supporting modern interpretation and exploration planning.

Silver Spur & Surrounding Exploration Tenure Regional Aerial Photo
Regional Aerial Photo

Silver Spur & Surrounding Exploration Tenure

Surrounding exploration tenure provides additional ground for evaluating regional targets and potential extensions.

Project History

WHY DIDN’T IT PROCEED?

The article mentions concerns over:

Power in New South Wales was expensive compared with Queensland, and power consumption for a smelter would be high.

Even in 1986, $6.5 million represented a significant investment.

Recovering metals from old slag is metallurgically complex, and recovery assumptions may have proved optimistic.

Metal prices in the mid-1980s were weak, making financing difficult. Ultimately, the project never evolved into a major operating mine.

These factors combined to make the project too challenging and risky at the time.

Project Video

Experience the Texas Silver Project

Explore the scale, existing infrastructure and surrounding district through project footage captured across the Texas Silver Project.

Site Drive-Through / Drone Flyover
The Opportunity Ahead

Turning a Historic Silver District Into a Modern Production Story

TSilver Star Resources is turning a proven historic district into Australia's next active silver restart, backed by a defined resource, existing infrastructure and a staged pathway already underway.