VANCOUVER, BC, Jan. 10, 2022 /CNW/ -- Silver One Resources Inc.
(TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) - "Silver One" or
the "Company") is pleased to announce commencement of a 7,500-meter
reverse circulation drilling program on its 100% owned Candelaria
Project located in western Nevada,
USA. This program will augment results beyond the
significant progress made in the 2021 drill and exploration
programs, as the Company proceeds to define updated resources and
advances towards an economic study in 2022.
The upcoming drill program will consist of up to 32 holes and
will concentrate on two main goals. It will continue to
examine and potentially expand near-surface silver-oxide
mineralization along strike from the previously mined Mount Diablo
and Northern Belle open-pits (Fig. 1). Drilling will also
fill in areas along the potential extensions to the higher-grade,
down-dip continuation of the mineralized system. Drilling in
2020-2021 intercepted multiple high-grade intervals in the hundreds
of grams per metric tonne ("g/t") silver with significant gold
values. These higher grade intercepts were outlined in the
Company's July 15, 2021 news release,
where a high-grade intercept of 1,070 g/t silver and
1.48 g/t gold over 4.57 meters, within a 25.91-meter interval
that averaged 248.5 g/t silver and 0.40 g/t gold in hole
SO-C-21-92 was reported and in a May 26,
2021 Company news release where a high-grade intercept of
1,776 g/t silver and 2.55 g/t gold over 1.52 meters,
within a 7.62-meter interval that averaged 563 g/t silver and
0.73 g/t gold in hole SO-C-21-73 was delineated.
Additionally, a reinterpretation of the magnetic data (see
Company News Releases of November 18,
2019, and July 15, 2021) is
being undertaken, with the aim of helping to refine additional deep
porphyry related targets similar to those identified in hole
SO-C-21-081 in which over 350 meters of porphyry-style alteration
starting at a depth of approximately 600 meters below the
near-surface, silver oxide mineralization was intersected (see
Company news release of July 15,
2021). Porphyry-style mineralization has also been noted in
material collected on historic adit dumps, where selected rock
samples with skarn alteration and coarse-grained chalcopyrite,
returned assays of up to 2.76% copper, 25 g/t silver and 0.67 gm/t
gold. These skarn rock types are often spatially close to
larger porphyry mineralized systems. Targets identified
through the geophysical re-interpretations will be the focus of
future drilling.
Gregory Crowe, President and CEO
commented: "The 2022 exploration season is looking to be very
active for Silver One. We will be significantly advancing our
past-producing Candelaria silver project through drilling,
metallurgical studies, resource updates and an economic
study. Additional surface exploration and geophysical studies
will advance other aspects of the property. Silver One will
also continue to advance its very high-grade silver opportunity at
its Phoenix Silver Project, Arizona, where it is awaiting a drill permit
through the Forest Service. The Company will also be
examining permitting of additional targets at its high-grade,
silver-gold-copper vein system at Cherokee, Nevada."
Qualified Person
The technical content of this news release has been reviewed and
approved by Robert M. Cann, P. Geo,
and 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.
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.