Silver One Resources Announces Mobilization of RC Drill at Candelaria
The expanded drilling fleet is expected to accelerate a 25,000-metre campaign targeted for completion in the first quarter of 2027.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Silver One Resources (SLVRF) has mobilized a reverse-circulation drill rig to its Candelaria project in Nevada, with drilling scheduled immediately. National Drilling mobilized the rig in September. Major Drilling America is scheduled to resume drilling, and Evolve Drilling to mobilize a rig with reverse-circulation and core capacity, in the second half of October.
Silver One expects three rigs to accelerate its 25,000-metre program, targeting completion in the first quarter of 2027. The campaign aims to expand resources, test new targets and assess future infrastructure sites. Previously reported assays included 472 g/t silver over 9.14 metres within 25.91 metres averaging 215 g/t silver, extending down-dip mineralization approximately 400 metres beyond the open-pit resource. The company targets a Pre-Feasibility Study by the end of 2026, a development assessment expected to precede a construction decision targeted for late 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointDrilling extended down-dip mineralization approximately 400 metres beyond the open-pit resource.
- Minor point. Forward-looking: it has not happened yet and may not happen.National Drilling's reverse-circulation rig mobilized in September; drilling is scheduled to begin immediately.
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional capacity is scheduled for the second half of October, with Major resuming drilling and Evolve mobilizing.
- Minor point. Forward-looking: it has not happened yet and may not happen.Silver One targets completion of its 25,000-metre program in the first quarter of 2027.
- Minor pointRecent assays included 9.14 metres at 472 g/t silver, within 25.91 metres at 215 g/t silver.
7 minor points
- Minor pointThe 9.14-metre interval also averaged 0.60 g/t gold, 0.87% lead and 1.10% zinc.
- Minor pointThe broader 25.91-metre interval also averaged 0.33 g/t gold, 0.43% lead and 0.55% zinc.
- Minor point. Forward-looking: it has not happened yet and may not happen.The campaign plans resource expansion through step-out and down-dip drilling.
- Minor point. Forward-looking: it has not happened yet and may not happen.The campaign plans to test new targets identified through recent geophysical and geochemical work.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned condemnation drilling will assess sites for future infrastructure placement.
- Minor point. Forward-looking: it has not happened yet and may not happen.Silver One targets Pre-Feasibility Study completion by the end of 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.A construction decision is targeted for late 2027, following the expected study milestone.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Three Drill Rigs with RC and Core Capacity to be on site before end of October
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2026) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") announces that in September, National Drilling mobilized a reverse-circulation ("RC") rig to the Company's Candelaria Project in Nevada. Drilling is scheduled to begin immediately. Major Drilling America, will resume RC drilling during the second half of October, adding further capacity to the program. In addition, Evolve Drilling will mobilize a third rig, capable of both RC and core drilling in the second half of October. This expanded fleet provides increased flexibility across resource expansion, exploration, and condemnation drilling.
With three rigs turning, Silver One expects to accelerate its 25,000-metre program and is targeting completion in the first quarter of 2027.
Greg Crowe, President & CEO, commented, "The latest assays, including 472 grams per tonne silver over 9.14 metres, within a broader 25.91-m zone averaging 215 g/t Ag, 0.33 g/t Au, extended the mineralized system 400 metres down-dip from the previously known area of mineralization, as reported in the September 17, 2026 news release. This demonstrates the strength and scale of the Candelaria system, with the system remaining open both down-dip and along strike. What is most exciting is that these results exhibit remarkable continuity in grade and thickness. The strength and style of the recent intercepts strongly support our view that Candelaria's current resource has room to grow—and more importantly, that a longer-dated underground and milling opportunity may ultimately emerge beneath the near-surface open-pit and heap-leach story. With the addition of National's RC rig and Evolve's combined RC and core rig, we are significantly expanding our drilling capacity. Three rigs turning in the second half of October positions us to accelerate our 25,000 metre program and advance Candelaria's potential on multiple fronts."
Program Objectives
The 2026-2027 drilling campaign is designed to:
Expand resources through step-outs and down-dip drilling
Test select new targets identified in recent geophysical and geochemical work
Complete condemnation holes to support future infrastructure planning
These objectives follow the program framework outlined in Silver One's news releases dated May 27, July 22, August 27, and September 17, 2026.
Recent Assay Results
Initial assay results reported on September 17, 2026 included 9.14 m averaging 472 g/t silver ("Ag"), 0.60 g/t gold ("Au"),
These results extended down-dip mineralization approximately 400 metres beyond the open-pit resource, reinforcing the potential for continued resource growth and deeper silver-rich polymetallic mineralization opportunities at Candelaria.
Advancing Candelaria
The mobilization of additional drilling capacity marks another important step in advancing Candelaria as a large, growing silver-dominant system with both near-surface and longer-term development potential. Silver One will provide further updates as drilling progresses and assay results are received.
In parallel with the exploration program, Silver One's primary development objective is the completion of a Pre-Feasibility Study ("PFS") by the end of 2026. The PFS is expected to serve as the next major milestone toward a construction decision targeted for late 2027. While the study is being based on Candelaria's already substantial resource base, the ongoing drilling program is designed to expand the future resource beyond that foundation. Condemnation drilling will also provide critical information for infrastructure placement, site layout optimization, and execution planning, helping to further de-risk future development activities.
Qualified Person
The technical content of this news release, not related to the mineral resource, 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
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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316878
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Silver One expect to complete its Candelaria drilling program?
Silver One targets completion of the 25,000-metre drilling program in the first quarter of 2027. It expects the expanded three-rig fleet to accelerate the campaign, which covers resource expansion, exploration targets and drilling to assess future infrastructure sites.
What were Silver One's recent Candelaria silver assay results?
Recent assays included 9.14 metres averaging 472 g/t silver within a broader 25.91-metre zone averaging 215 g/t silver. These results, reported on September 17, 2026, extended down-dip mineralization approximately 400 metres beyond the open-pit resource.
How were Silver One's Candelaria silver-equivalent grades calculated?
Silver-equivalent grades, which express multiple metals on a silver-value basis, used recoveries of 77% for silver, 82% for gold, 50% for lead and 37% for zinc. Metal prices were $42/oz silver, $3,170/oz gold, $0.9/lb lead and $1.2/lb zinc. Copper was excluded. Calculated grades were 540 g/t silver equivalent for the 9.14-metre interval and 250 g/t for the broader 25.91-metre zone.