VANCOUVER, BC, Oct. 8, 2024
/PRNewswire/ -- Silver One Resources Inc. (TSXV: SVE)
(OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is
pleased to announce it has commenced a property-wide airborne
geophysical survey at its high-grade Phoenix Silver Project located
near Globe, Arizona.
The goal of this survey is to potentially outline areas of
alteration that may be associated with buried porphyry related
mineralized systems. The property lies at the northeast end
of a 50+ kilometer belt that is host to multiple porphyry copper
mines and prospects. These include the nearby
Miami-Inspiration producing complex operated by Freeport McMoRan
and the newly discovered Ocelot project being explored by
BHP. Both occur along strike from our Phoenix Silver
property, where multiple select grab samples have returned high
copper and silver values (see Figures 1 and 2 and News Release of
June 6, 2024).
The geophysical program will cover an area of 100 km2
and consists of a helicopter borne Z-Axis Tipper Electromagnetic
system (ZTEM) survey that will be conducted by Geotech Ltd.
This type of electromagnetic survey has been particularly
successful in delineating alteration halos associated with porphyry
copper deposits around the world. At the Phoenix Silver
project, the survey is expected to be useful in outlining
structures as well as areas of hydrothermal alteration potentially
related to mineralization.
The survey will be completed in October 2024, with
data processing and interpretation to follow. Once this data
is integrated with existing geological, geochemical, and
geophysical data, it is hoped that new silver and copper targets
will be identified.
Greg Crowe, Silver One's
President, CEO and Director, commented, "The silver targets
on the property continue being the focus of our exploration and, to
that end, the company commenced drilling the first week of October
(see News Release of Oct. 2, 2024).
The potential for copper, however, is also compelling and as
such we have commenced an airborne ZTEM survey to assess the
porphyry copper potential in the property. This type of
mineralization is 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 Dominion mine that produced base metals,
silver, and gold from near surface veins. Both the
Miami and Ocelot are along strike
and are part of a 50+ km long porphyry belt that projects
northeastwards beneath the Phoenix Silver project."
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.
Figure 1: Phoenix Silver location map showing copper belts of
the Miami-Globe porphyry copper district. Major mines
and deposits include the Miami-Inspiration mining complex and BHP's
porphyry copper discovery area. 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.
Photo -
https://mma.prnewswire.com/media/2525110/Silver_One_Resources_Inc_1.jpg
Figure 2 – Map of the Phoenix Silver property, showing main
veins and targets. Target#1 (or 417 Target Area) encompasses the
417 lb silver fragment and multiple veins currently undergoing
drilling. Targets south of the 417 area, include polymetallic
veins as well as alteration zones potentially associated with
porphyry-style mineralization.
Photo -
https://mma.prnewswire.com/media/2525109/Silver_One_Resources_Inc_2.jpg
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.