HOLE 132 RETURNED A pXRF SINGLE POINT ANALYSIS OF
3,176 g/t SILVER, 0.6% COPPER, 2.7% LEAD AND 13.0% ZINC
WITHIN A 23 m WIDE SULPHIDE-RICH
MINERALIZED ZONE ASSAYING 359 g/t SILVER AND 0.7 g/t GOLD
A pXRF SINGLE POINT ANALYSIS OF OXIDE
MINERALIZATION IN HOLE 134 RETURNED 6,868 g/t SILVER, 0.2%
COPPER, 5.78% LEAD AND 0.74% ZINC WITHIN A 30.2 M WIDE MINERALIZED ZONE ASSAYING 149.9 g/t
SILVER AND 0.3 g/t GOLD
VANCOUVER, BC, Dec. 13, 2022 /PRNewswire/ -- Silver One
Resources Inc. (TSXV: SVE; OTCQX: SLVRF; FSE: BRK1 -
"Silver One" or the "Company") announces positive initial
bottle-roll metallurgical test results from six large-diameter core
("HQ and NQ") holes and three in-pit bulk samples from its
Candelaria Project located in western Nevada, USA. More definitive results are
expected from column leach tests, and flotation tests on
sulphide-rich samples being conducted by Kappes, Cassiday &
Associates ("KCA") in Reno,
Nevada. These results are expected in Q1 2023.
Highlights:
- Six composites from mineralized intervals in diamond drill
holes completed in September 2022,
and three bulk samples of oxide and mixed material collected at the
base of the Mt. Diablo open-pit were sent to KCA in Reno, Nevada for metallurgical testing (see
Figure 1 below for hole and bulk sample locations). The diamond
drill holes represent oxide, mixed (oxide and sulphide) and
sulphide-rich mineralization (see Figure 2, photos of sulphide-rich
mineralization).
- Field portable XRF (pXRF) point analysis from sulphide-rich
mineralization in hole 132 returned 3,176 g/t silver, 0.6% copper,
2.7% lead and 13.0% zinc, within a 23.45
m wide mineralized zone assaying 359 g/t silver and 0.7 g/t
gold reported by KCA's lab.
- pXRF point analysis of oxide mineralization in hole 134
returned 6,868 g/t silver, 0.2% copper, 5.78% lead and 0.74% zinc,
within a 30.2 m wide mineralized zone
assaying 149.9 g/t silver and 0.3 g/t gold reported by KCA's lab.
Technical details and relevant high-grade pXRF results are shown in
Table 1.
- The sulphide results are significant as they confirm the known
extent of high-grade mineralization north of the Mt. Diablo
pit.
-
- Drill holes SO-C-22-132 and 133 intersected relatively shallow
high-grade sulphide mineralization at depths approximately 200
m below the pre-mining surface, while the oxide zone
throughout the deposit generally extends to depths of 250 m.
- Examples of the deeper sulphide intercepts include holes
079 and 072A which are the northernmost holes drilled to date and
their grades are as follows:
-
- Hole SO-C-21-072A assayed 330 g/t Ag and 0.44 g/t Au
over 4.57 m, from 435.86 m, within a 14 m zone averaging 198
g/t Ag and 0.28 g/t Au, from 432.82 m.
- Hole SO-C-21-079 assayed 476.5 g/t Ag and 1.47 g/t Au
over 3.05 m, from 315.47 m, within a 7.62 m wide zone
averaging 273 g/t Ag and 0.74 g/t Au, from 312.42
m (See Figure 1, and August 16,
2022 news release).
- This mineralization remains open at depth, north of the
Mt. Diablo pit, and potential extensions to this system have
yet to be drill-tested.
- Initial bottle-roll tests reported extractions ranging from 60%
to 76% silver, and 68% gold in the oxide diamond drill intercepts;
from 70% to 77% silver and 19% to 44% gold in the mixed
(oxide-sulphide) diamond drill intercepts; and from 44% to 51%
silver and 1% to 3% gold in the sulphide diamond drill intercepts
(Table 2).
- The sulphide-rich intervals are also being tested at KCA by
flotation methods, which are expected to return higher recoveries
as the sulphide does not as readily react to cyanide leaching as
does the oxide mineralization. Results should be received in Q1
2023.
- The initial bottle-roll test extractions for the oxide and
mixed bulk samples collected in the Mt. Diablo open-pit ranged from
27% to 60% silver and 62% to 73% gold (Table 2). The lower than
expected silver extractions on the mixed (oxide-sulphide
mineralization) are likely to be mineralogy specific to those
samples and may not be representative of the entire pit
bottom.
Gregory Crowe, President and CEO
commented; "We are encouraged by the initial bottle-roll test
results and await all of the column leach test results expected in
Q1 2023. We are also pleased by the high-grade sulphide-rich
intercepts in hole 132, which represent shallow depths of
sulphide-rich mineralization. We anticipate more
sulphide-rich mineralization down-dip (north) from the Mount Diablo
open-pit, which remains open for future exploration. If the
grade of sulphide mineralization in hole 132 is an indication of
potential grades associated with untested sulphide-rich
mineralization elsewhere, this makes further down-dip exploration a
high-priority target."
Figure 1. Drill holes in the area of Mount Diablo and
Northern Belle pits (see Corporate Presentation at
www.silverone.com for assays of select down-hole
intercepts).
Figure 2. Photographs: Sulphide samples from drill
hole SO-C-22-132. Mineralization includes massive sulphides such as
pyrite, galena, sphalerite, and lesser chalcopyrite in bands,
stockwork or filling breccia, with rims of native silver around the
sulphides. (a) Single point pXRF assay in the 15 cm interval from
165.18 m to 165.33 m returned 3,176 g.t Ag, 0.6% Cu, 2.7% Pb
and 13% Zn. (b) Similar intervals of massive mineralization occur
to a depth of approximately 167
m. (c) Saw-cut half core showing detail of the
165.18 m to 165.33 m interval in photo (a).
a)
b)
c)
Table 1. Portable XRF (pXRF) assays from systematic field
measurements. Note that silver pXRF averages reported for the
entire mineralized interval compare reasonably well with the fire
assays from KCA's laboratory (see Head Average Column in Table 2
which shows the average gold and silver grade obtained by the
lab).
Candelaria
Project
|
pXRF
Assays
|
Drill
Hole
|
Interval
(meters)
|
Width
|
Ag
g/t
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
SO-C-22-132 1
|
153.2
-176.50
|
23.3
|
224
|
0.3
|
1.15
|
0.02
|
Includes
|
165.1
|
0.1
|
3,176
|
2.7
|
13
|
0.6
|
Includes
|
165-166.4
|
1.4
|
1,574
|
1.5
|
11.3
|
0.17
|
SO-C-22-133
2
|
163.60-187.60
|
24
|
132
|
0.3
|
0.39
|
nil
|
Includes
|
164.8-165
|
0.2
|
1,560
|
3.2
|
2.2
|
0.05
|
Includes
|
172.4-172.6
|
0.2
|
1,317
|
0.04
|
0.04
|
0.13
|
Includes
|
176-176.2
|
0.2
|
1,115
|
0.43
|
2.2
|
0.14
|
SO-C-22-134
3
|
126.75-157.0
|
30.25
|
239
|
0.39
|
0.38
|
nil
|
Includes
|
136.5-136.75
|
0.25
|
6,868
|
5.78
|
0.74
|
0.2
|
SO-C-22-135
3
|
129-158.50
|
29.5
|
102
|
0.15
|
0.33
|
nil
|
SO-C-22-136
3
|
111.25-131.25
|
20
|
96
|
0.17
|
0.25
|
nil
|
Includes
|
123.5-123.75
|
0.25
|
1,089
|
0.71
|
0.09
|
0.03
|
SO-C-22-137
3
|
137.75-160.25
|
22.5
|
195
|
0.21
|
0.29
|
nil
|
Includes
|
144.25-144.5
|
0.25
|
1,033
|
1.67
|
0.13
|
0.03
|
Includes
|
156.75-158.25
|
1.5
|
734
|
0.52
|
0.78
|
0.03
|
Note: pXRF point analyses collected with an Olympus Delta
Premium X-ray fluorescence (XRF) portable spectrometer. The XRF
analysis process included internal calibration at the beginning of
each working day and every time the instrument was shut off for
more than 15 minutes. Silica blank and two OREAS certified
standards were analyzed at the beginning of each shift and after
breaks. Single point analysis were collected systematically by a
senior Silver One geologist every 10 cm to 25 cm throughout the
entire hole. Thus, the number of single point analysis for a
certain interval vary. For example, drill hole SO-C-133 contains
120 point analysis for the mineralized interval of 24 meters shot
every 20 cm (24 m divided by
0.2 m = 120).
1Single point analysis every 10 cm.
2Single point analysis every 20 cm,
3Single point analysis every 25 cm. The pXRF data
is taken as surface point values and may not represent the true
grade and width of the sample interval.
Table 2. Summary of Cyanide Bottle-roll leach tests of drill
hole composite samples. All holes are vertical holes; sample
intervals are mineralized core lengths, and the respective widths
are estimated to be near true widths. Core recoveries were or
exceed 98%.
Candelaria
Project
|
Summary of Cyanide
Bottle Roll Leach Tests
|
DRILL
HOLES
|
Description Drill
Hole
|
Crush
|
Meters
|
Sample Interval
(m)
|
Head
Average
|
Au Extracted
|
Notes
|
Type
|
gms
Au/MT
|
%
|
SO-C-22-132
|
Pulv.
|
23.45
|
153.1
-176.55
|
0.713
|
<1%
|
Sulfide
|
SO-C-22-133
|
Pulv.
|
23.9
|
163.72-187.62
|
0.24
|
<1%
|
Sulfide
|
|
|
|
|
|
|
|
SO-C-22-134
|
Pulv.
|
30.2
|
127-157.2
|
0.324
|
68 %
|
Oxide
|
SO-C-22-135
|
Pulv.
|
31.18
|
128.93-160.11
|
0.286
|
68 %
|
Oxide
|
|
|
|
|
|
|
|
SO-C-22-136
|
Pulv.
|
20.9
|
110.47-131.37
|
0.264
|
44 %
|
Mixed
|
SO-C-22-137
|
Pulv.
|
23.53
|
136.77-160.3
|
0.309
|
19 %
|
Mixed
|
|
|
|
|
|
|
|
Description Drill
Hole
|
Crush
|
Meters
|
Sample Interval
(m)
|
Head
Average
|
Ag Extracted
|
Notes
|
Type
|
gms
Ag/MT
|
%
|
SO-C-22-132
|
Pulv.
|
23.45
|
153.1
-176.55
|
359.04
|
51 %
|
Sulfide
|
SO-C-22-133
|
Pulv.
|
23.9
|
163.72-187.62
|
142.71
|
44 %
|
Sulfide
|
|
|
|
|
|
|
|
SO-C-22-134
|
Pulv.
|
30.2
|
127-157.2
|
149.91
|
76 %
|
Oxide
|
SO-C-22-135
|
Pulv.
|
31.18
|
128.93-160.11
|
138.91
|
60 %
|
Oxide
|
|
|
|
|
|
|
|
SO-C-22-136
|
Pulv.
|
20.9
|
110.47-131.37
|
97.82
|
70 %
|
Mixed
|
SO-C-22-137
|
Pulv.
|
23.53
|
136.77-160.3
|
144.71
|
77 %
|
Mixed
|
Note: Drill hole samples from HQ and NQ core were
collected from mineralized intervals using 100% of the core.
Samples weighed approximately 100 kg to 180 kg each. 1,000 grams
split samples were prepared and pulverized to 0.106
millimeters, leached for 48 hours at a target 5 g/L sodium cyanide
level for bottle-roll tests. Head grades were determined at the
internal KCA laboratory by fire assay and atomic absorption finish
(FA/AA 30 grams). Both bulk and core samples were collected, packed
and delivered to KCA by Silver One personnel.
Table 3. Summary of Cyanide Bottle-roll leach tests of bulk
samples.
BULK SAMPLES -
BOTTOM OF Mt. DIABLO PIT
|
Field
Description
|
Crush
|
Head
Average
|
Au Extracted
|
Notes
|
Type
|
gms
Au/MT
|
%
|
N648
|
Pulv.
|
0.213
|
62 %
|
Mixed
|
N959
|
Pulv.
|
0.261
|
73 %
|
Mixed
|
N960
|
Pulv.
|
0.457
|
73 %
|
Oxide
|
|
|
|
|
|
Field
Description
|
Crush
|
Head
Average
|
Ag Extracted
|
Notes
|
Type
|
gms
Ag/MT
|
%
|
N648
|
Pulv.
|
269.18
|
27 %
|
Mixed
|
N959
|
Pulv.
|
92.98
|
46 %
|
Mixed
|
N960
|
Pulv.
|
109.92
|
60 %
|
Oxide
|
Note: Bulk samples consist of approximately 600 kg each,
collected from the floor at three separate locations at the
bottom of the Mt. Diablo Pit with a backhoe and then homogenized,
quartered and two opposite quarters combined for shipping.
Individual samples 300 kg each were sent to KCA for testing while
the rest is stored at the Candelaria mine site. 1,000 grams split
samples were prepared and pulverized to 0.106 millimeters,
leached for 48 hours at a target 5 g/L sodium cyanide level for
bottle-roll tests. Head grades were determined at the internal KCA
laboratory by fire assay and atomic absorption finish (FA/AA 30
grams). Both bulk and core samples were collected, packed and
delivered to KCA by Silver One personnel.
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.
About Silver One
Silver One is focused on the exploration and development of
quality silver projects. The Company holds an option to
acquire 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 has staked 636 lode claims and entered into a
Lease/Purchase Agreement to acquire 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 holds an option to acquire 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.
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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