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Yahoo
06-05-2025
- Business
- Yahoo
SILVER ONE ANNOUNCES IN-GROUND MINERAL RESOURCE ESTIMATE PREPARED IN ACCORDANCE WITH NI 43-101 ON ITS CANDELARIA PROJECT, NEVADA
VANCOUVER, BC, May 6, 2025 /PRNewswire/ -- Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce the completion of a NI 43-101 mineral resource estimate ("MRE") for its Candelaria Project (the "Project"), located in Nevada, USA. The mineral resource estimate, prepared by James A. McCrea, P. Geo, includes the in-ground mineralization and stockpiles adjacent to the historic Mount Diablo and Northern Belle pits (Table 1). The MRE was prepared in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument ("NI 43-101"). Highlights: Mount Diablo and Northern Belle pit-constrained resources:- Measured and Indicated (M&I) resource of 22,070,000 tonnes averaging 94 g/t Ag and 0.20 g/t Au, for 66.754 million ounces of silver and 141,400 ounces of gold, or 70.836 million ounces of silver equivalent ("AgEq") (see note ˧ in table 1).- Inferred resource of 2,960,000 tonnes averaging 68 g/t Ag and 0.18 g/t Au, for 6.462 million ounces of silver and 17,000 ounces of gold (7.00 million oz AgEq). Underground Measured and Indicated resource of 1,200,000 tonnes averaging 168 g/t Ag and 0.27 g/t Au, for 6.45 million ounces of silver and 10,200 ounces of gold (7.150 million oz AgEq). Underground Inferred resource of 650,000 tonnes averaging 150 g/t Ag and 0.24 g/t Au, for 3.136 million ounces of silver and 5,100 ounces of gold (3.490 million oz AgEq). Candelaria's project resources (from open-pit, underground, stockpiles and leach pads) now total 108.82 million ounces of silver equivalent in the Measured and Indicated categories, and 29.81 million ounces of silver equivalent Inferred. Greg Crowe, President and CEO commented: "This updated mineral resource is based on results from extensive reverse circulation and core drilling programs and metallurgical studies completed by Silver One. It also includes historic drill hole information from previous operators. We are very pleased with the results. At this phase, the majority of the resource has been upgraded to a Measured and Indicated category. The current resource estimate exceeds the historic resource, which is encouraging as the current resource is pit-constrained and of higher confidence than historic estimates, plus the mineralization remains open in all directions. Additionally, the company's efforts of testing a novel non-cyanide recovery process have yielded excellent results and have demonstrated the capacity to increase silver and gold recoveries, while potentially lowering process costs. The Company plans to resume drilling late in the year to continue expanding the in-ground mineralization, both in the near-surface mineralization and the higher-grade underground targets. Metallurgical testing of the new non-cyanide technology will continue to further examine the optimization of silver and gold recoveries. Silver One is undertaking a PEA study to compare the recoveries and costs of using cyanide versus these new non-cyanide solutions. It is also examining a pilot heap-leach test to investigate field silver and gold recoveries." Silver One previously announced a NI 43-101 mineral resource for mineralization in leach pads on August 18, 2020. The leach pad resources include 22.18 million tonnes for 30.02 million ounces of silver and 52,000 ounces of gold (at a grade of 42.1 g/t Ag and 0.074 g/t Au respectively) in the Indicated category, and 11.45 million tonnes for 15.4 million ounces of silver and 36,700 ounces of gold (at grade of 41.8 g/t Ag and 0.10 g/t Au respectively) in the Inferred category. Indicated and Inferred silver equivalent ounces (AgEq) total 30.8 and 16.1 million ounces respectively (Table 2). Table 1. Candelaria in-ground, underground, and stockpiles mineral resource estimates. Infographic - Totals above include pit Constrained Mineral Resources (Mt. Diablo and Northern Belle) at a US$9.273 NSR cut-off, within a US$27.50/oz Ag optimized pit shell (see footnotes and Resource Estimate Details section below). 1. A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve. 2. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources has no known issues and does not appear materially affected by any known environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. There is no guarantee that Silver One will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the project or that the project will be placed into production. 3. The mineral resources in this study were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM'), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standing Committee on Reserve Definitions and adopted by the CIM Council on May 10, 2014. 4. This Mineral Resource Estimate for the near-surface material is based on material within an optimized open pit shell that results from a US$27.50/oz silver price revenue factor. Tonnes and grade reported at $27.50/oz Ag and U$2,106/oz Au. 5. The Mineral Resource Estimate for underground material was calculated using a 90 g/t Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery. 6. Total Ag (AgT) and Au (AuT) mean total silver and gold assays (FA/Gravity) reported by the lab. It also means Calculated silver and gold values for historic samples collected by previous operators that were assayed for cyanide soluble silver or gold only, but not assayed for total gold and silver. Average total silver and gold for Mt. Diablo, Northern Belle and Underground resources in this table are derived from silver and gold assays in a database that consists of up to 80% of cyanide soluble silver and gold assays only. Approximately 20% of the assays in the database have both FA and or gravity total silver and gold values. The latter constitutes the basis for the generation of the Calculated silver and gold values using regression formulas developed by qualified Silver One professionals. Table 2. Candelaria Leach Pad mineral resources. As reported on August 18, 2020 company's news release. Infographic - Candelaria's project resources now total 108.822 million ounces of silver equivalent ("AgEq") in the Measured and Indicated categories, and 29.808 million ounces of silver equivalent including in-ground, leach pad and stockpiles material. Higher grade material such as the underground resource, contains a significant amount of zinc. However, owing to the scarcity of base metal assays in most of the database, base metals are not included in this resource estimate at this time. This report brings to current, upgrades and expands the historic resource of the Mount Diablo, Northern Belle and Stockpiles reported by SSR in a Technical Report filed on SEDAR in 2002, and complements the resource estimate of the leach pads reported by the company in 2020 (See the Company's news release of August 18, 2020). Metal prices used for this resource estimate are US $27.50 per ounce of silver and US $2,106 per ounce of gold. These prices are used for the exploitation scenarios related to reasonable prospects for eventual economic extraction. The 3-year trailing average metal prices are US $2,146 per ounce of gold and US $25.11 per ounce of silver. Spot prices for April 30, 2025 were US 3,328 per ounce of gold and US $33.19 per ounce of silver. To fulfill the requirement of reasonable prospects for economic extraction ("RPEEE"), a conceptual crushing and leaching scenario using the Merrill-Crowe process was developed based on the results of the High-Pressure Grinding Rolls ("HPGR") and column cyanide leach tests. These metallurgical tests were completed by McClelland Laboratories Inc. and Kappes Cassiday & Associates ("KCA") in Reno, Nevada (see Company's news release May 21, 2019). The scenarios evaluated were developed based on an operational throughput of 10,000 per day (tpd). The base case was using a silver recovery of 56%, 66% and 55% for oxide, mixed and sulfide material respectively, and gold recoveries of 51%, 10% and 0% for oxide, mixed and sulfide, respectively. These metal recoveries are estimated field recoveries which are discounted by a factor of 9% from laboratory column test recoveries, as normally done in practice by KCA for feasibility study purposes. The mining and heap-leach processing assumptions for RPEEE are shown in Table 3. Table 3. Mining and Heap Leach Processing assumptions for RPEEE. Infographic - The above assumptions use an open-pit mining internal cut-off NSR value of US$9.27/tonne (equivalent to a cut-off grade between 14.81 g/t AgEq to $17.78 g/t AgEq depending on the rock and mineralization type). Cut-off for underground mining is 90 g/t Ag. Resource Estimate Details The constraining pit for RPEEE was designed using 6m and 3m block size and the Lerch-Grossman "LG" algorithm. The optimal pit resulted from a US$27.50 g/t Ag and US$2,106 g/t Au price revenue factor and was used as a pit shell for the near-surface resource estimate. Tonnage and grade reported was tabulated at US$27.50/oz Ag and US$2,106/oz Au. Specific gravities were calculated from 78 laboratory measurements of all types of mineralized materials. Averages are 2.52 g/cm3 for oxide and mixed mineralization, 2.66 g/cm3 for sulfides, and 2.37 g/cm3 for all other rock materials. Historical mine workings at Northern Belle were digitized in mine grid from various maps, vertical and longitudinal sections and solid wireframes were built and converted to UTM coordinates. Volume of workings were calculated and deducted from the respective block affected. Measured, Indicated and Inferred Mineral Resources were determined from respective classification search ranges for Mt Diablo:Range composites classification 0 to 5.81m >5 Measured,5.81to9.62m >10 Measured9.62to11.53m >10 Indicated11.53-27.1m 10-30 Indicated>27.1m all Inferred Classification search ranges for Northern Belle: 0 to 6.26m >5 Measured6.26 to 12.65m >10 Measured6.26t o 12.65m <10 Indicated12.65 to 37.18m 10-30 Indicated>37.18m all Inferred Underground resources were tabulated using a 90 g/t Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery. The Mineral Resource Estimate is based on a drill hole database containing 938 surface RC, percussion and diamond drill holes totaling 143,389 metres of drilling and 76,796 assays. Historic drilling (90% of the drillholes with only cyanide soluble assays) was converted from mine grid to UTM by surveying mine grid points in UTM and doing a grid conversion. Verification of the interpolation of the resource model included visual inspections of the block grades versus composite values and geologic model, block model swash plots for soluble silver, and a 'one out' cross-validation. A Technical report in support of the MRE, dated effective April 30, 2025 titled "Technical Report on the Candelaria Property, Mineral and Esmeralda Counties, Nevada, USA" was prepared by James A. McCrea, P. Geo., in accordance with the requirements of NI 43-101, and will be filed on SEDAR+ within 45 days of this press release. Candelaria Project Background Candelaria was historically the highest-grade silver producer in the state of Nevada, averaging over 1,200 g/T AgEq (40 oz/t AgEq) from high-grade vein mining between the mid-1800s and the mid-1900s. Open pit mining operations mined silver and base metals from stockwork and manto-style mineralized bodies with accessory gold values hosted in rocks of the Candelaria and Pickhandle Gulch formations. The majority of the mineralization is associated with the Lower Candelaria shear and Pickhandle thrusts. Open-pit mining was undertaken in the 1970s through 1998 by several companies, including Nerco, Inc. and Kinross. Kinross closed the open pit and leach operation in 1998 due to low silver prices. Leaching of the historic pads was not completed leaving a substantial amount of silver unprocessed. It is estimated that the property has produced over 68 million ounces of silver. Historical information was obtained from "Geology of the Candelaria Mining District, Mineral County, Nevada, 1959, Nevada Bureau of Mines, Bulletin 56", and the SSR Mining Inc. technical report titled "Candelaria Project Technical Report" dated May 24, 2001 (filed on SEDAR June 20, 2002), prepared by Pincock Allen & Holt. Qualified Persons The mineral resource estimate was prepared by James A. McCrea, P. Geo, an independent Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the content of the news release relating to the mineral resource estimate. The technical content of this news release, not related to the mineral resource estimate, has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company. About Silver One Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits. The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike. Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona. For more information, please contact: Silver One Resources Lindsey - VP, Investor RelationsPhone: 604-974‐5274Mobile: (720) 273-6224Email: gary@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Logo - View original content to download multimedia: SOURCE Silver One Resources Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
06-05-2025
- Business
- Cision Canada
SILVER ONE ANNOUNCES IN-GROUND MINERAL RESOURCE ESTIMATE PREPARED IN ACCORDANCE WITH NI 43-101 ON ITS CANDELARIA PROJECT, NEVADA
VANCOUVER, BC, May 6, 2025 /CNW/ -- Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce the completion of a NI 43-101 mineral resource estimate ("MRE") for its Candelaria Project (the "Project"), located in Nevada, USA. The mineral resource estimate, prepared by James A. McCrea, P. Geo, includes the in-ground mineralization and stockpiles adjacent to the historic Mount Diablo and Northern Belle pits (Table 1). The MRE was prepared in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument ("NI 43-101"). Highlights: Mount Diablo and Northern Belle pit-constrained resources: - Measured and Indicated (M&I) resource of 22,070,000 tonnes averaging 94 g/t Ag and 0.20 g/t Au, for 66.754 million ounces of silver and 141,400 ounces of gold, or 70.836 million ounces of silver equivalent ("AgEq") (see note ˧ in table 1). - Inferred resource of 2,960,000 tonnes averaging 68 g/t Ag and 0.18 g/t Au, for 6.462 million ounces of silver and 17,000 ounces of gold (7.00 million oz AgEq). Underground Measured and Indicated resource of 1,200,000 tonnes averaging 168 g/t Ag and 0.27 g/t Au, for 6.45 million ounces of silver and 10,200 ounces of gold (7.150 million oz AgEq). Underground Inferred resource of 650,000 tonnes averaging 150 g/t Ag and 0.24 g/t Au, for 3.136 million ounces of silver and 5,100 ounces of gold (3.490 million oz AgEq). C andelaria's project resources (from open-pit, underground, stockpiles and leach pads) now total 108.82 million ounces of silver equivalent in the Measured and Indicated categories, and 29.81 million ounces of silver equivalent Inferred. Greg Crowe, President and CEO commented: "This updated mineral resource is based on results from extensive reverse circulation and core drilling programs and metallurgical studies completed by Silver One. It also includes historic drill hole information from previous operators. We are very pleased with the results. At this phase, the majority of the resource has been upgraded to a Measured and Indicated category. The current resource estimate exceeds the historic resource, which is encouraging as the current resource is pit-constrained and of higher confidence than historic estimates, plus the mineralization remains open in all directions. Additionally, the company's efforts of testing a novel non-cyanide recovery process have yielded excellent results and have demonstrated the capacity to increase silver and gold recoveries, while potentially lowering process costs. The Company plans to resume drilling late in the year to continue expanding the in-ground mineralization, both in the near-surface mineralization and the higher-grade underground targets. Metallurgical testing of the new non-cyanide technology will continue to further examine the optimization of silver and gold recoveries. Silver One is undertaking a PEA study to compare the recoveries and costs of using cyanide versus these new non-cyanide solutions. It is also examining a pilot heap-leach test to investigate field silver and gold recoveries." Silver One previously announced a NI 43-101 mineral resource for mineralization in leach pads on August 18, 2020. The leach pad resources include 22.18 million tonnes for 30.02 million ounces of silver and 52,000 ounces of gold (at a grade of 42.1 g/t Ag and 0.074 g/t Au respectively) in the Indicated category, and 11.45 million tonnes for 15.4 million ounces of silver and 36,700 ounces of gold (at grade of 41.8 g/t Ag and 0.10 g/t Au respectively) in the Inferred category. Indicated and Inferred silver equivalent ounces (AgEq) total 30.8 and 16.1 million ounces respectively (Table 2). Table 1. Candelaria in-ground, underground, and stockpiles mineral resource estimates. Infographic - Totals above include pit Constrained Mineral Resources (Mt. Diablo and Northern Belle) at a US$9.273 NSR cut-off, within a US$27.50/oz Ag optimized pit shell (see footnotes and Resource Estimate Details section below). 1. A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve. 2. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources has no known issues and does not appear materially affected by any known environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. There is no guarantee that Silver One will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the project or that the project will be placed into production. 3. The mineral resources in this study were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM'), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standing Committee on Reserve Definitions and adopted by the CIM Council on May 10, 2014. 4. This Mineral Resource Estimate for the near-surface material is based on material within an optimized open pit shell that results from a US$27.50/oz silver price revenue factor. Tonnes and grade reported at $27.50/oz Ag and U$2,106/oz Au. 5. The Mineral Resource Estimate for underground material was calculated using a 90 g/t Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery. 6. Total Ag (AgT) and Au (AuT) mean total silver and gold assays (FA/Gravity) reported by the lab. It also means Calculated silver and gold values for historic samples collected by previous operators that were assayed for cyanide soluble silver or gold only, but not assayed for total gold and silver. Average total silver and gold for Mt. Diablo, Northern Belle and Underground resources in this table are derived from silver and gold assays in a database that consists of up to 80% of cyanide soluble silver and gold assays only. Approximately 20% of the assays in the database have both FA and or gravity total silver and gold values. The latter constitutes the basis for the generation of the Calculated silver and gold values using regression formulas developed by qualified Silver One professionals. Table 2. Candelaria Leach Pad mineral resources. As reported on August 18, 2020 company's news release. Infographic - Candelaria's project resources now total 108.822 million ounces of silver equivalent ("AgEq") in the Measured and Indicated categories, and 29.808 million ounces of silver equivalent including in-ground, leach pad and stockpiles material. Higher grade material such as the underground resource, contains a significant amount of zinc. However, owing to the scarcity of base metal assays in most of the database, base metals are not included in this resource estimate at this time. This report brings to current, upgrades and expands the historic resource of the Mount Diablo, Northern Belle and Stockpiles reported by SSR in a Technical Report filed on SEDAR in 2002, and complements the resource estimate of the leach pads reported by the company in 2020 (See the Company's news release of August 18, 2020). Metal prices used for this resource estimate are US $27.50 per ounce of silver and US $2,106 per ounce of gold. These prices are used for the exploitation scenarios related to reasonable prospects for eventual economic extraction. The 3-year trailing average metal prices are US $2,146 per ounce of gold and US $25.11 per ounce of silver. Spot prices for April 30, 2025 were US 3,328 per ounce of gold and US $33.19 per ounce of silver. To fulfill the requirement of reasonable prospects for economic extraction ("RPEEE"), a conceptual crushing and leaching scenario using the Merrill-Crowe process was developed based on the results of the High-Pressure Grinding Rolls ("HPGR") and column cyanide leach tests. These metallurgical tests were completed by McClelland Laboratories Inc. and Kappes Cassiday & Associates ("KCA") in Reno, Nevada (see Company's news release May 21, 2019). The scenarios evaluated were developed based on an operational throughput of 10,000 per day (tpd). The base case was using a silver recovery of 56%, 66% and 55% for oxide, mixed and sulfide material respectively, and gold recoveries of 51%, 10% and 0% for oxide, mixed and sulfide, respectively. These metal recoveries are estimated field recoveries which are discounted by a factor of 9% from laboratory column test recoveries, as normally done in practice by KCA for feasibility study purposes. The mining and heap-leach processing assumptions for RPEEE are shown in Table 3. Table 3. Mining and Heap Leach Processing assumptions for RPEEE. The above assumptions use an open-pit mining internal cut-off NSR value of US$9.27/tonne (equivalent to a cut-off grade between 14.81 g/t AgEq to $17.78 g/t AgEq depending on the rock and mineralization type). Cut-off for underground mining is 90 g/t Ag. Resource Estimate Details The constraining pit for RPEEE was designed using 6m and 3m block size and the Lerch-Grossman "LG" algorithm. The optimal pit resulted from a US$27.50 g/t Ag and US$2,106 g/t Au price revenue factor and was used as a pit shell for the near-surface resource estimate. Tonnage and grade reported was tabulated at US$27.50/oz Ag and US$2,106/oz Au. Specific gravities were calculated from 78 laboratory measurements of all types of mineralized materials. Averages are 2.52 g/cm 3 for oxide and mixed mineralization, 2.66 g/cm 3 for sulfides, and 2.37 g/cm 3 for all other rock materials. Historical mine workings at Northern Belle were digitized in mine grid from various maps, vertical and longitudinal sections and solid wireframes were built and converted to UTM coordinates. Volume of workings were calculated and deducted from the respective block affected. Measured, Indicated and Inferred Mineral Resources were determined from respective classification search ranges for Mt Diablo: Classification search ranges for Northern Belle: Underground resources were tabulated using a 90 g/t Ag(T) cut-off below the $27.50 Pit and using a 70% mining recovery. The Mineral Resource Estimate is based on a drill hole database containing 938 surface RC, percussion and diamond drill holes totaling 143,389 metres of drilling and 76,796 assays. Historic drilling (90% of the drillholes with only cyanide soluble assays) was converted from mine grid to UTM by surveying mine grid points in UTM and doing a grid conversion. Verification of the interpolation of the resource model included visual inspections of the block grades versus composite values and geologic model, block model swash plots for soluble silver, and a 'one out' cross-validation. A Technical report in support of the MRE, dated effective April 30, 2025 titled "Technical Report on the Candelaria Property, Mineral and Esmeralda Counties, Nevada, USA" was prepared by James A. McCrea, P. Geo., in accordance with the requirements of NI 43-101, and will be filed on SEDAR+ within 45 days of this press release. Candelaria Project Background Candelaria was historically the highest-grade silver producer in the state of Nevada, averaging over 1,200 g/T AgEq (40 oz/t AgEq) from high-grade vein mining between the mid-1800s and the mid-1900s. Open pit mining operations mined silver and base metals from stockwork and manto-style mineralized bodies with accessory gold values hosted in rocks of the Candelaria and Pickhandle Gulch formations. The majority of the mineralization is associated with the Lower Candelaria shear and Pickhandle thrusts. Open-pit mining was undertaken in the 1970s through 1998 by several companies, including Nerco, Inc. and Kinross. Kinross closed the open pit and leach operation in 1998 due to low silver prices. Leaching of the historic pads was not completed leaving a substantial amount of silver unprocessed. It is estimated that the property has produced over 68 million ounces of silver. Historical information was obtained from "Geology of the Candelaria Mining District, Mineral County, Nevada, 1959, Nevada Bureau of Mines, Bulletin 56", and the SSR Mining Inc. technical report titled "Candelaria Project Technical Report" dated May 24, 2001 (filed on SEDAR June 20, 2002), prepared by Pincock Allen & Holt. Qualified Persons The mineral resource estimate was prepared by James A. McCrea, P. Geo, an independent Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the content of the news release relating to the mineral resource estimate. The technical content of this news release, not related to the mineral resource estimate, has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company. About Silver One Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits. The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike. Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona. For more information, please contact: Silver One Resources Inc. Gary Lindsey - VP, Investor Relations Phone: 604-974‐5274 Mobile: (720) 273-6224 Email: [email protected] Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information.
Yahoo
23-04-2025
- Business
- Yahoo
Silver One Provides Corporate Update on Its Nevada and Arizona Projects, Southwest USA
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to provide an update to our shareholders, outlining exploration and development progress made in 2024 as well as to provide an outlook for 2025. Silver One owns three highly prospective projects in two of the most favorable mining jurisdictions in the world, Nevada and Arizona. Its flagship project, the past producing Candelaria silver mine in Nevada, hosts a current silver resource plus a historic silver resource that is presently being updated, and is advancing towards potential development. Phoenix Silver in Arizona is a high-grade silver prospect with multiple silver exploration targets. It also has excellent potential for the discovery of porphyry-style copper-silver mineralization as it lies in the prolific Miami-Inspiration copper district. The prospect is 5 km northeast of Freeport McMoRan's mining complex and BHP's porphyry exploration projects, all developed along a 50+ km long belt hosting multiple mines and exploration projects. Cherokee, in eastern Nevada, is a highly prospective silver-copper-gold exploration property that also has porphyry copper potential. Gregory Crowe, President and CEO commented: "Few companies can boast the number and quality of Silver One's assets. Our projects span the range from early exploration to pre-development. Silver One is moving forward on all its properties including completing an in-ground resource and an economic study (Preliminary Economic Assessment "PEA") for its Candelaria project. The Phoenix Silver project continues to impress with the number of new targets generated from the Company's work in 2024 and with the exploration success of BHP in its Ocelot project, adjacent on the south of Silver One's property, as well as with its proximity to numerous Major and Junior company mines and prospects. Cherokee is an early stage, highly prospective exploration target. The Company has aggressive programs scheduled for 2025 and has an optimistic outlook on the future exploration of all its properties." Next Steps Candelaria Update historical resource to current resource Economic Study (PEA) Drilling to expand the mineralization of the historical resource as well as drilling for additional metallurgical testing Phoenix Silver Sampling and mapping of silver nugget train north of 417 area Assessment of other silver targets Induced Polarization (IP) to test ZTEM porphyry copper-silver targets Gravity survey to assist in the definition of silver targets for future drilling. Cherokee Continue mapping and sampling IP in southern part of the property to assess porphyry potential Details on the projects are below. For more detail visit Candelaria, Nevada Candelaria is a past producing silver mine in western Nevada (Figure 1). It was last operated by Kinross Gold Corp., who closed the mine in 1997 when silver prices plummeted to under US$5 per ounce. Silver Standard acquired the property in the early 2000's and completed an in-ground resource, now historic. Silver prices remained historically low in 2002 when Silver Standard began focusing on other projects. Silver One acquired the project from Silver Standard (now SSR Mining), gaining a 100% interest in 2023. Since discovery in 1864, Candelaria has produced an estimated 68 million ounces of silver. The project hosts two large, silver bearing historic heap leach pads and two historic open pits developed along a strong easterly trending regional mineralized structure. Silver One has drilled the two heap leach pads as well as conducted three drilling campaigns of the in-ground mineralization around the open pits, and metallurgical testing on both leach-pad and in-ground mineralization. The heaps contain a current resource containing 30.017 million ounces of silver (Indicated) plus 15.397 million ounces of silver (Inferred). The historical resource on the in-ground mineralization, marginal to the open pits, consists of 44.06 million ounces of silver Measured and Indicated, plus 34.676 million ounces of silver Inferred. Details of the resources can be seen by visiting Silver One has completed enough in-ground drilling to upgrade the historic mineral resource to a current mineral resource in 2025. Extensive metallurgical testing conducted by the company has yielded excellent results, showing significant increase in silver recoveries that exceed historic silver recoveries. The most recent metallurgical testing was conducted by Extrakt Processing Solutions ("EPS" or "Extrakt"), who has a strategic global alliance with Bechtel Energy Technologies & Solutions, Inc. ("Bechtel") to commercialize Extrakt's TNSTM technology. Extrakt has developed proprietary, non-toxic, cyanide-free leaching solutions that have yielded excellent results on Candelaria samples. Results to date indicate that these solutions significantly increase silver recoveries, potentially doubling the recoveries achieved with traditional cyanide leaching on heap leach pad material and increasing them on the fresh material (see news release Feb 26, 2025). In 2025, Silver One is nearing completion of a current mineral resource on the in-ground, near surface mineralization. The Company is also working on a preliminary economic study (PEA), which will encompass the current heap leach pad resource and the upcoming in-ground resource, comparing a cyanide leaching scenario to one using Extrakt's proprietary solutions. The Company will also contemplate additional drilling to look at extending mineralization beyond the area of the updated resource. These are important steps as the Company moves the project closer to the development stage. Figure 1. Candelaria site map. To view an enhanced version of this graphic, please visit: Phoenix Silver, Arizona Phoenix Silver is a unique property (See Figures 2 and 3). It lies at the northeastern end of a 50+ km long mineralized belt that is host to multiple porphyry copper and silver mines and deposits. Silver One completed the acquisition of a 100% interest in the project in 2024, initially acquired due to the discovery of very high-grade silver vein fragments. One of the fragments weighed 417 pounds (189 kg) and was estimated to contain over 70% silver. Over 200 silver fragments have been discovered on small (just over 1%) portions of the 15,000 acres property. An airborne ZTEM (electromagnetic) survey conducted across the entire property in October 2024 identified several new silver targets (see news release of Feb 20, 2025). In addition, Company geologists identified another target consisting of a train of 40+ silver nuggets to the north of the 417 vein system. This area has not been explored in detail (Nuggets North target). The ZTEM survey also outlined two priority porphyry targets that warrant follow up exploration. These occur at a lower elevation in the southern part of the property, where multiple select rock samples returned strongly elevated copper and silver values (see news release of Feb 20, 2025). This area is along strike and 5 km from Freeport McMoRan's Miami-Inspiration copper mining complex and BHP's new Ocelot copper porphyry prospect. All occur within a 50+ long mineralized belt hosting multiple copper and silver properties including BHP-Rio Tinto's Resolution project, Capstone's Pinto Valley Mine and KGHM's Carlota project, among others. An east-west structure thought to be the host of these larger silver vein fragments was drilled in late 2024 (see news release Feb 24, 2025). Anomalous silver with copper, lead and zinc values were encountered in many of the holes drilled. Extremely high-grade massive silver was not intercepted, which suggests that the targeted massive silver may occur in discontinuous ore shoots in-between drill intercepts, and/or at deeper depths. Silver One is proposing to complete a gravity survey in the 417 area to potentially better define silver targets, and additionally complete detailed mapping and sampling in the area of the train of silver nuggets north of the 417 area (Nuggets North). The Company also intends to complete an IP survey in the southern part of the property to confirm the ZTEM porphyry copper-silver targets for potential future drill testing. Figure 2: Phoenix Silver location map showing copper belts of the Miami-Globe porphyry copper district. Major mines and deposits include the Miami-Inspiration mining complex, BHP's Ocelot discovery area and Rio Tinto/BHP's Resolution copper deposit. Blue contours are regional magnetic (MVI - contour interval 0.0002 SI) anomalies which are spatially coincident with the mineral belts of the Miami-Globe copper district. To view an enhanced version of this graphic, please visit: Figure 3: Priority targets on ZTEM resistivity -300 depth map. Silver targets labeled PS1 to PS5 shown with black continuous line, are represented by the Predictive Targeting Probabilities color bar in the legend. The Nuggets North target, outside the areas of ZTEM anomalies is particularly important owing to the abundance of silver nuggets in the area. The copper values shown are from select rock samples. Porphyry targets Defiance and Quartz Ridge "QR" are shown for reference (see details in Company's news release of February 20, 2025). To view an enhanced version of this graphic, please visit: Cherokee, Nevada At Cherokee (Figure 4), the company has conducted several campaigns of mapping and sampling as well as geophysics and limited shallow drilling on patented claims owned by the company. Targets include 1) An epithermal veins system with over 12 km of combined strike length and multiple high-grade silver, gold and copper values from selected rock chip samples on surface (see news release of September 3, 2019), and 2) a porphyry copper-molybdenum system with associated satellite skarn and limestone replacement mineralization. The epithermal veins were partially drilled in the Cherokee mine area with nine shallow diamond drill holes. Four of the nine drill holes intersected silver values between 80 g/t and 455 g/t over 5.45 m and 1.55 m respectively, within a wide quartz structure that averages 12 meters. Copper in these intercepts were 0.4% and 1.84%, respectively (see news release of November 16, 2021). Several other epithermal targets on the property outside the patented claims remain untested and permitting of some of these areas is planned for future drilling. The southeast area of the property is highly prospective for potential porphyry-style copper and or molybdenum mineralization, with targets identified by geophysics and surface geochemistry. Of particular importance is a circular magnetic feature in the southeastern part of the property. Here, Paleozoic limestones host multiple northwest trending structures and alteration zones peripheral to the magnetic anomaly, including extensive areas of limestone replacement with elevated silver and base metals (copper-lead-zinc), and jasperoids (often associated with precious metal deposits in Nevada and elsewhere). Silver One is also planning an IP survey in the southern portion of the property to help determine porphyry potential. Figure 2. Total magnetic intensity map of the Cherokee project showing main target areas. To view an enhanced version of this graphic, please visit: Lodestar Debt Settlement Silver One's Mexican assets were sold to Lodestar Metals Corp., (formerly Silverton Metals Corp.) in 2020. The settlement was to include a C$ 1.25 million cash payment upon signing (paid), the issuance to 4.375 million shares of Lodestar (settled), plus an additional C$ 1.25 million. Silver One has settled the issue of the final payment for consideration of C$ 50,000 plus the issuance of an additional 3.0 million shares of Lodestar. This will allow both companies to move forward, a significant factor in Silver One's position as a major shareholder of Lodestar. Qualified Person The technical content of this news release has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company. About Silver One Silver One is focused on the exploration and development of quality silver projects. The Company owns a 100%-interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in unmined historic resources as well as in previously identified high-grade silver intercepts down-dip, which can potentially increase the substantive silver mineralization along-strike from the two past-producing open pits. The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike. Silver One also has 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect, recently permitted for drilling, which lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona. For more information, please contact: Silver One Resources Lindsey - VP, Investor RelationsPhone: 604-974‐5274Mobile : (720) 273-6224Email : gary@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 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24-02-2025
- Business
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SILVER ONE RECEIVES FINAL DRILL RESULTS FROM ITS PHOENIX SILVER PROJECT, ARIZONA TRACES SILVER-COPPER BEARING STRUCTURE ALONG STRIKE
VANCOUVER, BC, Feb. 24, 2025 /PRNewswire/ -- Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") announces the analytical results for samples collected in the 2024 diamond drill program completed in the 417 area ("417") on its Phoenix Silver Property (Figure 1). The close spaced drill program (average 23 m between vein intercepts) targeted an east-west trending, steeply dipping structure, just upslope from the large (up to 417 pounds) angular vein fragments thought to be derived from these structures (see Figure 2 and news releases of May 15, 2024, and February 5, 2020). With exception of hole 1 that did not intersect the vein, hole 10 (barren) and hole 22 that did not recover core in the vein zone, elevated silver and or base metals (Zn, Pb, Cu), values were encountered in all other holes along the 250 meters of the east-west vein-structure (see Table 1). The program consisted of 30 core holes from 6 drill pads, totalling 1,955 meters which traced the vein- structures for over 250 m east-west. The drill holes were drilled in HQ size core (63.5mm diameter) with an average depth of 64 m. The best intercept returned 3,800 g/t silver with 0.97% copper over 0.35 m within a quartz breccia (See selected assays in Table 1). This intersection is near the 417 vein fragment area. The presence of silver and base metals along the length of the structure tested suggests this fracture system may still host higher-grade material between or downdip from the drill hole intercepts, as well as elsewhere along the western and eastern extensions of the host structure. Several other silver and copper exploration targets have been outlined through geological mapping, sampling and the recent ZTEM airborne electromagnetic survey completed by the Company in late 2024 (see Company news release of February 20, 2025). Five silver targets outside the 417 area were identified and two porphyry copper-silver targets were prioritized for additional exploration. The silver target at higher elevations to the north of 417 is of particular importance, as it is characterized by a 1.5 km train comprised of 40 silver fragments weighing up to 9 kg (20 lb) (Nuggets-North Target - Figure 3). Further work on this silver anomaly is highly warranted. Silver One will look at conducting a close spaced gravity survey over the 417 area to help define the locations of potential concentrations of silver. The gravity survey will examine strong density differences between the host rock (average density of 2.65 - 2.90 gm/cubic centimeter) and concentrations of silver (100% silver has a density of 10.5 gm/cubic cm). This will help in deciding targeting locations of future drill holes. Planned work also includes, mapping and sampling at the Nuggets-North area, as well as induced polarization over the porphyry targets on the southern part of the property, all in preparation for selecting future drill targets. Greg Crowe, Silver One's President, CEO and Director, commented, "The results of the 2024 drill program illustrate the continuity of the silver and base metal bearing structures along the 250+ meters of strike tested. The 2024 drill program did not encounter very high-grade intercepts similar to the large angular vein fragments in the 417 area, as these lens-like concentrations of high-grade material may be present between drill intercepts or down-dip of the area tested. These structures appear to continue westwards towards the Mexican Mine (see Figure 1), where high-grade silver has been historically documented (Arizona Republic, 23 April 1903 originally published in the Globe Times). Several other silver targets were identified though geological sampling and geophysics and need to be further evaluated. Also, the recently completed airborne ZTEM survey, along with select surface copper and silver rock samples, have identified two high priority copper-silver targets in the southern part of the property (see news release of February 20, 2025, and Figure 3). Phoenix Silver is within a prolific 50+ km long porphyry copper and silver producing belt. Freeport McMoRan's Miami-Inspiration mining complex and BHP's new Ocelot porphyry discovery are along strike and lie within 5 km of Phoenix Silver. The Phoenix Silver property remains highly prospective for both silver vein and porphyry style mineralization. More detailed geophysical and mapping/sampling programs are being considered in preparation for future drilling." Table 1. Selected anomalous assays from Phoenix Silver core drilling samples. Intervals reported are near true widths, except for holes 3, 5, 7, 24 (70% to 76% of the intercept), and holes 21 and 23 (25% of the intercept). Anomalous samples over 10 g/t silver are included in table below. Holes not listed contain at least a sample, between 0.15 m and 0.35 m with elevated (over 500 ppm) copper, lead or zinc. HOLE ID Sample Number From (m) To (m) Interval (m) Ag g/t Cu ppm Pb ppm Zn ppm PS-24-02 200921 15.24 17.68 12 55 55 128 587 PS-24-02 200922 17.68 19.81 33 33 34 143 603 PS-24-03 200923 13.26 15.24 52 52 114 103 906 PS-24-03 200924 15.24 17.83 30 30 376 159 567 PS-24-03 200925 17.83 19.81 1.98 13 136 42 705 PS-24-03 200926 19.81 21.79 1.98 15 165 69 695 PS-24-03 200927 21.79 23.32 1.52 20 67 54 626 PS-24-03 200928 23.32 24.84 1.52 10 42 36 835 PS-24-03 200929 24.84 26.37 1.52 12 70 74 568 PS-24-04 200910 18.67 19.08 0.41 68 725 374 892 PS-24-04 200911 19.08 19.43 0.35 3,816 9,725 3,628 922 PS-24-04 200912 19.43 21.11 1.68 79 567 213 1,086 PS-24-04 200913 21.11 23.13 2.03 90 221 41 1,209 PS-24-04 200914 23.13 25.09 1.95 85 113 26 812 PS-24-04 200915 25.09 27.89 2.80 63 34 28 737 PS-24-04 200916 27.89 29.57 1.68 34 5 26 821 PS-24-05 200931 23.47 25.60 2.13 11 24 74 652 PS-24-05 200932 25.60 27.74 2.13 35 258 86 1,003 PS-24-05 200933 43.89 46.33 2.44 24 406 52 784 PS-24-05 200934 46.33 48.54 2.21 28 328 61 972 PS-24-07 200936 12.80 15.24 2.44 12 45 61 578 PS-24-07 200937 15.24 17.37 2.13 21 146 65 626 PS-24-14 200947 45.42 47.55 2.13 33 346 62 791 PS-24-14 200948 54.25 56.39 2.13 15 160 27 497 PS-24-16 303 23.47 24.68 1.21 49 1,316 349 1,282 PS-24-20 335 35.36 39.93 4.57 16 47 61 502 PS-24-21 306 85.34 87.17 1.83 26 83 330 601 PS-24-21 307 87.17 89.00 1.83 30 100 232 721 PS-24-21 308 89.00 90.53 1.52 20 68 252 1,387 PS-24-21 309 90.53 93.04 2.51 10 40 231 1,151 PS-24-23 318 114.00 115.82 1.83 54 1,169 136 1,100 PS-24-24 319 41.15 43.89 2.74 31 120 139 722 PS-24-28 324 53.95 56.54 2.59 11 96 66 1,385 PS-24-28 326 81.99 83.82 1.83 14 15 241 828 PS-24-28 327 95.94 97.11 1.17 19 17 259 784 PS-24-30 331 36.26 37.62 1.36 3 30 2,747 468 Sampling, Analytical and QA/QC Seventy-six rock samples from core drilling were collected by Company geologists. All core was drilled in HQ diameter and samples were saw-cut on site after being washed, logged, photographed and analyzed with a portable X-ray pXRF Delta Professional analyzer. One-half was used for wet-chemical analysis and the other half returned to its box for storage at a company facility in Globe, Arizona. Samples varying in size from approximately 1 kg to 11 kg were dropped off by Company personnel at SGS Laboratories ("SGS") sample preparation facility in Tempe, AZ, thence shipped by SGS personnel to SGS laboratory in Burnaby, BC., Canada (ISO accredited Laboratory, ISO/IEC17025:2017, SCC file # 15919) for analysis. Samples were analyzed by ICP/MS for thirty-four elements with four-acid digestion (SGS code Over limit copper, lead and zinc were analyzed by ore-grade four acid digestion ICP (0.5 g sample) code Overlimit silver was analyzed by 30 g FA/Gravimetric assay (code Silver One inserted three standards (sourced from OREAS® Certified Reference Material), three blanks and one duplicate in the sample stream. No analytical issues were observed. SGS also inserts blanks, standards and includes duplicate analyses to ensure proper sample preparation and equipment calibration. Table 2. Drill hole coordinates (UTM NAD83-12S) and other ID data. Phoenix Silver Core-Drilling. Hole Easting UTM NAD83 Northing UTM NAD83 Elevation meters Azimuth Incl Depth meters PS24-01 519179 3705806 1191 0.0 -90.0 51.8 PS24-02 519181 3705801 1191 173.0 -50.0 29.9 PS24-03 519181 3705801 1191 173.0 -75.0 32.0 PS24-04 519181 3705806 1191 235.0 -45.0 39.0 PS24-05 519181 3705805 1191 235.0 -72.0 53.0 PS24-06 519182 3705797 1191 140.0 -45.0 32.3 PS24-07 519182 3705797 1191 140.0 -75.0 55.2 PS24-08 519233 3705827 1201 180.0 -45.0 58.2 PS24-09 519233 3705827 1201 180.0 -60.0 61.0 PS24-10 519233 3705832 1201 0.0 -90.0 119.9 PS24-11 519233 3705836 1201 205.0 -45.0 55.2 PS24-12 519233 3705836 1201 205.0 -75.0 77.1 PS24-13 519233 3705831 1201 160.0 -45.0 28.1 PS24-13A 519233 3705831 1201 160.0 -45.0 70.4 PS24-14 519233 3705832 1201 160.0 -75.0 67.4 PS24-15 519233 3705832 1201 160.0 -60.0 69.2 PS24-16 519273 3705822 1209 180.0 -45.0 48.8 PS24-17 519273 3705822 1209 180.0 -75.0 71.0 PS24-18 519274 3705822 1209 0.0 -90.0 75.6 PS24-19 519273 3705823 1209 150.0 -50.0 60.0 PS24-20 519130 3705770 1190 0.0 -50.0 51.2 PS24-21 519130 3705767 1190 0.0 -70.0 103.0 PS24-22 519130 3705767 1190 30.0 -50.0 53.3 PS24-23 519130 3705767 1190 30.0 -70.0 124.4 PS24-24 519130 3705767 1190 332.0 -50.0 62.5 PS24-25 519059 3705776 1179 355.0 -50.0 46.3 PS24-26 519059 3705776 1179 355.0 -75.0 73.1 PS24-27 519059 3705776 1179 25.0 -45.0 53.6 PS24-28 519274 3705823 1209 120.0 -45.0 100.0 PS24-29 519274 3705823 1209 205.0 -50.0 86.3 PS24-30 519113 3705733 1186 140.0 -75.0 46.4 Qualified Person The technical content of this news release has been reviewed and approved by Robert M. Cann, P. Geo, a Qualified Person as defined by National Instrument 43-101 and an independent consultant to the Company. About Silver One Silver One is focused on the exploration and development of quality silver projects. The Company holds 100% interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits. The Company owns 636 lode claims and five patented claims on its Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along-strike. Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt," immediately adjacent to the prolific copper producing area of Globe, Arizona. For more information, please contact: Silver One Resources Lindsey - VP, Investor RelationsPhone: 604-974‐5274Mobile : (720) 273-6224Email : gary@ Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on the Candelaria Project, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no obligation to publicly update or revise forward-looking information. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 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