Silver One Res Inc Stock Price, News & Analysis

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.

Silver One Resources announced a non-brokered private placement financing of 19,642,857 units at $0.28 per unit, totaling $5.5 million. Each unit includes one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.40 for three years. Proceeds will fund exploration, drilling, and working capital. The offering's securities will be restricted from resale for four months and one day. Additionally, the company seeks to extend the expiry date of 10,191,669 warrants from July 14, 2024, to July 14, 2025, maintaining the exercise price at $0.65. Both initiatives require TSX Venture Exchange approval.

On June 6, 2024, Silver One Resources announced the discovery of new copper and silver prospects at its Phoenix Silver Project in Arizona. Selected samples from the southern part of the property showed up to 1,240 g/t silver and 7.79% copper. The area, located northeast of Freeport McMoRan's Miami copper mine and BHP's Ocelot porphyry project, shows potential for porphyry-related copper-silver mineralization. The company is set to begin drilling high-grade silver targets in Q3 2024. Notable findings include highly anomalous copper values between 0.1% to 7.79% and silver between 1 g/t to 1,240 g/t. The project is permitted for drilling, targeting structures believed to host high-grade silver vein fragments. These discoveries extend the potential silver vein area by over 600 meters. Silver One's exploration continues to show significant promise for high-grade silver and copper mineralization.

Silver One Resources has discovered additional silver vein fragments and new copper showings at its Phoenix Silver Project in Arizona. These new findings extend the area of potential high-grade silver mineralization by 600 meters to the west. Recent samples indicate silver content as high as 1,785 g/t and copper content up to 2.74%. The project is positioned near notable copper mines, enhancing its copper-silver porphyry potential. Drilling permits have been secured to explore these promising structures. This discovery represents a significant expansion of the project's mineralized area and its potential for high-value resource extraction.