VANCOUVER, BC, Feb. 20,
2025 /CNW/ -- Silver One Resources Inc. (TSXV:
SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the
"Company") is pleased to announce the completion of the geophysical
processing and 3D modelling of helicopter-borne electromagnetic
data from the ZTEM survey (Z-Axis Tipper
Electromagnetic) conducted in October
2024 at its Phoenix Silver Project located near Globe, Arizona (See company's news release of
October 7, 2024 and Figure 1).
The survey and processing were done by Geotech LTD
("Geotech"). Geotech's processing, 3D-modelling, and
targeting analysis have identified several significant anomalies
potentially related to copper and silver mineralization.
Anomalies identified include two priority copper targets and
five priority silver targets, all recommended for further
exploration (Figure 2).
The copper targets in the project (Figures 3 and 4) have
geophysical, geochemical and geological features characteristic of
porphyry copper deposits. The project area has a regional
setting similar to BHP's Ocelot copper deposit located 5 kilometers
to the southwest of Silver One's property. All occur within a
prolific belt of copper producers including Freeport McMoRan's
Copper Cities and Miami-Inspiration mining complex, Capstone
Copper's Pinto Valley Mine, KGHM's Carlota Mine and Rio Tinto –
BHP's Resolution deposit.
Four of the five silver targets identified by the ZTEM are
outside the area hosting the large silver vein fragments that was
drilled in the 2024 exploration program (417 area).
Additionally, company geologists have identified a sixth
silver target, outside the ZTEM targets, to the north of the 417
area (See Figure 2). It is defined by a train of numerous
(40+) silver nuggets, weighing between a few grams to 9.5 kilograms
(20.9 lb), each estimated to contain over 20% silver based on
specific gravity calculations. This area strongly warrants follow
up exploration.
Additional claims were staked on the southwest part of the
property to completely cover the Defiance geophysical and
geochemical Target (see Figures 2 and 5), these claims abut BHP's
claims to the south.
Greg Crowe, Silver One's
President, CEO and Director, commented, "The ZTEM has been
successful in identifying several anomalies at its Phoenix Silver
project. This includes several silver targets, and two
priority conductive areas interpreted as disseminated sulfide
mineralization potentially related to an underlying porphyry
system. We are enthusiastic about all these targets.
However, the two potential porphyry related conductive zones are
particularly attractive as they are interpreted to be relatively
shallow (500 meters to centre of anomaly (Figure 4) and are
geophysically similar to the conductive anomaly of BHP/Rio Tinto's
Resolution copper deposit. Multiple select samples
collected in the vicinity of these two ZTEM anomalies contain
highly anomalous copper and silver values (see company's news
releases of December 18, 2023,
May 15, 2024 and June 6, 2024, and Figure 5) and are hosted in
polymetallic veins and alteration zones in the southern part of the
property. Silver Phoenix lies at the northeastern margin of a
50+ km long porphyry belt that projects northeastwards beneath
Silver One's property. Several mines and/or prospects occur
along this belt, such as Freeport McMoRan's Miami-Inspiration
mining complex, BHP's Ocelot porphyry discovery, Rio Tinto and
BHP's Resolution deposit and others (see Figure 1). The
proximity to major copper producers and exploration porphyry
targets along with excellent prospectivity defined by both
geophysics and surface copper and silver samples, makes this
project a high priority porphyry exploration target.
Additional silver anomalies add to the already overall exploration
potential of Phoenix Silver."
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,
BHP's Ocelot discovery area and Rio Tinto/BHP's Resolution
copper deposit. 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/2624122/Silver_One_Resources.jpg
Figure 2. Silver targets (PS1 to PS5 and Nuggets North)
over the ZTEM3D -300 m resistivity
depth slice. Dashed black circles show the priority porphyry
targets (Defiance and Quartz Ridge "QR") for reference. Copper
values shown are from select rock samples.
Photo: https://mma.prnewswire.com/media/2624123/Silver_One_Resources.jpg
Porphyry Copper Targets
The priority copper exploration targets consist of: 1)
near circular magnetic anomalies defined by relative magnetic lows
surrounded by relatively high magnetization halos and: 2)
resistivity lows near the center of sub-circular shaped magnetic
anomalies. Priority copper targets, named Defiance and Quartz
Ridge ("QR") in Figure 3 and respective sections are in Figure
4.
Resistivity lows can occur where increased concentrations of
conductive metals in the geological formations provide less
resistance to electromagnetic fields. Other significant
attributes include magnetic lows due to magnetite destruction,
often caused by hydrothermal alteration or due to the low magnetite
content of syn-genetic Laramide intrusions that are often
associated with many of the porphyry deposits in Arizona (Brant, 1966, Geophysics in the
exploration for Arizona porphyry
coppers, in Titley, S.R., and Hicks C.L. eds., Geology of the
porphyry copper deposits, southwestern North America: Tucson, University of
Arizona Press, p87-110 ), as is the case in the Morenci copper mine 130 km southeast of
Globe, Arizona.
Figure 3: Left. 3D Magnetic Vector Inversion (MVI
Amplitude) 300 meter depth. Note copper targets in black
dashed line defined by a magnetic low surrounded by a
relatively high magnetic halo. Right. 3D-ZTEM resistivity
inversion 500 meters depth: the red and light-red ovals within the
magnetic lows represent conductive zones potentially associated to
copper sulfides. Defiance and QR targets are 4 and 8
square kilometers in size, respectively. North-South
sections on these porphyry targets are shown in Figure 4.
Photo:
https://mma.prnewswire.com/media/2624124/Silver_One_Resources.jpg
Figure 4: Left. ZTEM3D resistivity section of L1050
over the Defiance porphyry target. Right. ZTEM3D resistivity
section of L1240 over the QR porphyry target. Both sections are
looking west, showing the approximate depth to the center and
lateral size of the conductor. See figure above for sections
location.
Photo:
https://mma.prnewswire.com/media/2624125/Silver_One_Resources.jpg
Figure 5. Rock geochemistry map showing silver and
copper values. Assays of select copper samples are
highlighted by the corresponding labels. The blue polygon shows the
new claims staked in the southwest part of the property.
Photo:
https://mma.prnewswire.com/media/2624126/Silver_One_Resources.jpg
Previous exploration work at Phoenix Silver, including geologic
mapping, sampling, and drone-borne magnetometry, has identified
features possibly associated with the tops of porphyry copper
systems. These include felsic dikes, mineralized polymetallic
(silver-copper-lead-zinc) veins, alteration zones, and structures
that occur proximal to the ZTEM anomalies (see Figure 6).
Felsic dikes are interpreted to be possibly connected to
intrusions at depth, which may be related to potential
mineralization sources. Vein mineralization discovered in
various parts of the property is interpreted as leakage into
outcropping rocks and can be a surface manifestation of deeper
porphyry systems. Multiple select samples collected in the
property returned highly anomalous values, some exceeding 7%
copper and over 1 kg/ton silver, with locally abundant lead and
zinc (See Figure 5 and Company's news release of May 15 and June 16,
2024).
Prospective northeast lineaments are identified by the ZTEM data
across the property, notably those traversing the Defiance and QR
priority targets (see Figure 6). These lineaments are
important as they are aligned with the regional,
northeast-oriented, deep-seated structures that control the
mineralization of porphyry deposits along the Globe area, Resolution - Miami-Inspiration
copper belt.
Figure 6: Left. Total magnetic intensity map showing
additional copper targets. Red shaded areas are magnetic
highs interpreted as potential intrusive rocks at depth.
Right. 2D ZTEM resistivity inversion 600 m depth showing northeast oriented lineaments
which are part of the northeast extension of the Globe-Miami-Inspiration porphyry
belt.
Photo:
https://mma.prnewswire.com/media/2624127/Silver_One_Resources.jpg
Additional porphyry targets were identified with the 2D
inversion of the drone-borne magnetic data (see Figure 6 (left),
and company's news releases of May 15
and June 6, 2024). Targets DB1,
DB3 and DB6 are located peripheral to the ZTEM priority
targets. Target DB4 underlies the 417 area where numerous
silver fragments, including a 417 pound fragment, were found.
Target DB5 is in the northern part of the property under thick
alluvial cover. These targets are interpreted to be at a
depth of six hundred meters.
Silver Targets
Five priority silver targets were identified using Geotech's
S3 targeting algorithm (see PS1 to PS5 target locations
in Figure 2). The algorithm combines the analysis of:
1) structural data (known and inferred faults/contacts and
magnetic ridges); 2) self organizing map (SOM), which includes
ZTEM3D inversion resistivity data, and products derived from the
structural analysis and; 3) Supervised Deep Neural Network
(SDNN), which focuses on mine sites and major showings that
altogether produce predictive probabilities in the selection of
targets.
All the targets identified are located in resistive zones either
surrounded or flanked by conductive zones or trends that are
interpreted to occur within three hundred meters from the surface.
None of these areas have been mapped or sampled in detail and
will require further exploration.
Except for the target labeled PS1 on Figure 2, all the silver
targets identified by the ZTEM are outside the 417 area hosting the
large silver vein fragments that was drilled in the 2024 drill
program. Company geologists have also identified a more
northerly area of silver nuggets called "Nuggets North" (see Figure
2). This zone is defined by a
kilometer-long train of numerous (40+) silver nuggets ranging
in size from one centimeter to 20 centimeters and weighing from a
few grams up to 9.5 kilograms. This represents a
high-priority exploration target.
Phoenix Silver is an exceptional exploration property. Not
only does it host multiple silver exploration targets, but it is
also marginal to and along the trend of a major porphyry
copper-silver belt. It also has numerous promising
geophysical and geochemical targets identified within its property
boundaries.
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.
About Silver One
Silver One is focused on the exploration and development of
quality silver projects. The Company holds 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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