Silver One Res Inc Stock Price, News & Analysis

Silver One Resources (OTCQX: SLVRF) has provided updates on its three key mining projects in Nevada and Arizona. The company's flagship Candelaria silver mine in Nevada contains a current resource of 30.017M oz silver (Indicated) plus 15.397M oz (Inferred), with an additional historical resource being updated. Recent metallurgical testing shows significant improvements in silver recovery using proprietary non-toxic solutions.

The Phoenix Silver project in Arizona, located 5km from Freeport McMoRan's mining complex, has yielded over 200 high-grade silver fragments, with one weighing 417 pounds containing over 70% silver. A recent ZTEM survey identified new silver targets and two priority porphyry targets.

The Cherokee project in Nevada features epithermal veins with over 12km combined strike length and potential porphyry copper-molybdenum mineralization. Previous drilling intersected silver values between 80 g/t and 455 g/t over varying lengths.

Silver One Resources (SLVRF) announced promising results from phase 2 metallurgical testing using innovative non-toxic, cyanide-free leaching technology at its Candelaria Silver Mine in Nevada. The new process, developed by Extrakt Processing Solutions (EPS), demonstrates potential to double silver recoveries and significantly reduce leaching times.

Key findings show column non-cyanide leaching can recover up to 69% silver from heap-leach pads (LP1 and LP2), compared to 29-40% with traditional cyanide leaching. The technology proved effective in both agitated and column leaching processes, particularly for low-grade material. The process is backed by a strategic alliance between EPS and Bechtel.

The project contains over 30 million ounces of silver in indicated resources and 15 million ounces in inferred resources within the leach pads. A Preliminary Economic Assessment (PEA) is scheduled for 2025 to evaluate the entire project, potentially followed by a Pre-Feasibility Study on the Leach Pads.

Silver One Resources (SLVRF) has announced results from its 2024 diamond drill program at the Phoenix Silver Property's 417 area in Arizona. The program, consisting of 30 core holes totaling 1,955 meters, traced vein structures over 250 meters east-west. The best intercept yielded 3,800 g/t silver with 0.97% copper over 0.35m within a quartz breccia near the 417 vein fragment area.

The company identified five silver targets outside the 417 area and two porphyry copper-silver targets through geological mapping, sampling, and a recent ZTEM airborne electromagnetic survey. A notable silver target, the Nuggets-North Target, features a 1.5 km train of 40 silver fragments weighing up to 9 kg.

Future plans include conducting a close-spaced gravity survey over the 417 area, mapping and sampling at the Nuggets-North area, and induced polarization over the porphyry targets to prepare for future drilling campaigns.

Silver One Resources (SLVRF) has announced significant findings from its ZTEM airborne geophysical survey at the Phoenix Silver Project near Globe, Arizona. The survey identified two priority copper targets and five priority silver targets recommended for further exploration.

The copper targets show characteristics of porphyry copper deposits, with geophysical features similar to BHP's Ocelot copper deposit. The project area lies within a prolific copper belt that includes major operations from Freeport McMoRan, Capstone Copper, KGHM, and Rio Tinto-BHP.

Four of the five silver targets are located outside the previously drilled 417 area. A sixth silver target was identified north of the 417 area, marked by 40+ silver nuggets weighing up to 9.5 kilograms each, with estimated silver content exceeding 20%.

The company has staked additional claims in the southwest part of the property to cover the Defiance geophysical and geochemical target. The ZTEM survey revealed conductive zones potentially related to copper sulfides at relatively shallow depths of 500 meters, sharing similarities with BHP/Rio Tinto's Resolution copper deposit.

Silver One Resources Inc. (SLVRF) has initiated a property-wide airborne geophysical survey at its Phoenix Silver Project near Globe, Arizona. The survey aims to identify areas of alteration potentially associated with buried porphyry-related mineralized systems. The project is located at the northeast end of a 50+ kilometer belt hosting multiple porphyry copper mines and prospects.

The survey covers 100 km2 using a Z-Axis Tipper Electromagnetic system (ZTEM), conducted by Geotech This method has been successful in delineating alteration halos associated with porphyry copper deposits globally. The survey is expected to outline structures and areas of hydrothermal alteration potentially related to mineralization.

Scheduled for completion in October 2024, the survey data will be integrated with existing geological, geochemical, and geophysical data to identify new silver and copper targets. Silver One's CEO, Greg Crowe, emphasized that while silver targets remain the focus, the copper potential is compelling, prompting the ZTEM survey to assess porphyry copper potential in the property.

Silver One Resources has commenced drilling at its Phoenix Silver Project near Globe, Arizona. The program involves 2,500 meters of core drilling across up to 40 holes, targeting high-grade silver vein fragments, including a notable 417-pound fragment containing up to 70% native silver. Previous samples from the site have assayed up to 459,000 g/t silver. The drilling aims to explore the 417 Target Area, identified through various surveys and mapping. The project is promising, with multiple high-grade silver fragments found at shallow depths, suggesting proximity to the source. The current permit covers the 417 Target Area, but less than 50% of the property has been prospected, indicating potential for further discoveries.

Silver One Resources Inc. (SLVRF) has begun road and drill pad construction at its Phoenix Silver Project near Globe, Arizona, preparing for a 2,500-meter diamond drilling program set to start in early October. The main target is the 417 Target Area, potentially the source of high-grade silver vein fragments, including a 417-pound specimen estimated to contain up to 70% native silver. Other samples have assayed up to 459,000 g/t silver.

The company also plans a ZTEM geophysical survey in late September to identify alteration and mineralization zones, particularly in the southern part of the property where samples have shown over 1% copper with high silver values. This mineralization may be related to a buried porphyry system similar to nearby copper complexes.

Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) has contracted Geotech Airborne Geophysical Surveys to conduct a ZTEM survey over its Phoenix Silver project in Arizona. The survey aims to detect large alteration systems and structures potentially hosting mineralization, particularly in the southern portion where previous surveys and high-grade samples suggest a copper-silver system at depth.

The company plans to begin road and pad building for drilling high-grade silver targets in the 417 area, where large vein fragments containing over 70% silver were previously uncovered. Select sample assays have returned up to 459,000 gram/tonne silver. The drilling program is fully permitted and funded, awaiting improved weather conditions.

Additionally, Silver One has granted options to purchase 3,705,000 common shares to directors, officers, and consultants, exercisable at $0.24 per share with a five-year expiration.

Silver One Resources has successfully closed an oversubscribed financing round, raising $5.9 million through a non-brokered private placement, issuing 21,099,138 units at $0.28 per unit. Each unit includes one common share and one-half of a common share purchase warrant. Proceeds will fund drilling high-grade silver targets at the Phoenix Silver Project, geophysical work, and ongoing metallurgical studies at Candelaria. The shares will be restricted from resale until October 21, 2024. Finder fees amounted to $78,120.48 with an additional 237,006 finder's warrants issued. The securities offered have not been registered under the U.S. Securities Act and may not be sold in the U.S. without compliance.