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."
Figure 1 - Map of the 417 and Mexican Mine area showing location of drill pads and trace of holes completed. See drill hole details in figure 2.
Figure 2 - Plan view of Phoenix Silver drilling area showing drill hole collars and respective traces.
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
Figure 3 - Priority targets on ZTEM resistivity -300 depth map. Note 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, 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).
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 GE.ICP40Q12). Over limit copper, lead and zinc were analyzed by ore-grade four acid digestion ICP (0.5 g sample) code GE.ICP42Q100. Overlimit silver was analyzed by 30 g FA/Gravimetric assay (code GO.FAG37V). 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 Inc. Gary Lindsey - VP, Investor Relations Phone: 604-974‐5274 Mobile : (720) 273-6224 Email : gary@strata-star.com
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.
