DRILL TARGETS INCLUDE VEIN STRUCTURES THAT ARE
POTENTIAL SOURCE OF MULTIPLE VEIN FRAGMENTS INCLUDING A 417 POUND
NATIVE SILVER-RICH VEIN FRAGMENT
VANCOUVER, BC, Sept. 17,
2024 /CNW/ -- Silver One Resources Inc.
(TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the
"Company") is pleased to announce the commencement of construction
of road and drill pads in preparation for drilling the first of
several silver targets at its high-grade Phoenix Silver Project
located near Globe, Arizona
(See Figures 1 and 2).
Forest Service fire restrictions have been lifted in the project
area and road construction has started in preparation for drilling
by the first week of October. The main drill target is the 417
Target Area which includes the potential source of very high-grade
silver vein fragments located around the 417 pound (189 kg) vein
fragment found in the central part of the property (see Figures 1,
2 and 3). This vein fragment was not assayed, as it is a
collectors' specimen, but specific gravity tests indicate a very
high-grade silver content of up to 70% native silver (see News
Release of Feb 5, 2020). Multiple
other smaller specimens found in the property, also containing
abundant visible native silver, assayed up to 459,000 g/t
(13,385 oz tr/sh tn) silver (see Figure 4 and News Release of
Feb 5, 2020). This assay result
correlates well with the order of magnitude of silver found in
other vein fragments, including the specific gravity estimate of
silver in the 417 pound vein fragment.
The easing of fire restrictions will also allow the scheduling
of the ZTEM geophysical survey announced in the August 12 news release, estimated for the fourth
week of September. This electromagnetic survey is expected to be
useful in outlining areas of alteration and/or mineralization.
This will be especially important in the southern part of the
property where multiple select samples from breccia and
alteration zones and veining have returned values greater than 1%
copper with high silver values (see News Release of June 6, 2024). This type of mineralization
may be related to a buried porphyry system similar to the along
strike and nearby Miami copper
complex being operated by Freeport McMoRan and the recently
discovered Ocelot porphyry system being explored by BHP. The Ocelot
hosts multiple intercepts of 250+ meters averaging 0.6-0.7% copper
and lies beneath the historic Old
Dominion mine that produced base metals, silver and gold
from near surface veins (BHP's News Release 9/23 of Apr 21, 2023). Both the Miami and Ocelot are along strike and are part
of a 40+ km long porphyry belt that projects northeastwards beneath
the Phoenix Silver project (see Figure 5).
The drill program approved by the company consists of 2,500
metres including up to 40 diamond drill holes off 13 different
drill pads, as authorized by the Forest Service (Figure
1).
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 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 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.
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SOURCE Silver One Resources Inc.