Silver One Commences a Ztem Geophysical Survey at Its High-Grade Phoenix Silver Project, Arizona
SILVER ONE COMMENCES A ZTEM GEOPHYSICAL SURVEY AT ITS HIGH-GRADE
PHOENIX SILVER PROJECT, ARIZONA
Vancouver, British Columbia--(October 8, 2024) - Silver One Resources Inc. (TSXV: SVE) (OTCQX:
SLVRF) (FSE: BRK1) (“ Silver One ” or the “Company”) is pleased to announce it has commenced a
property-wide airborne geophysical survey at its high-grade Phoenix Silver Project located near
Globe, Arizona.
The goal of this survey is to potentially outline areas of alteration that may be associated with
buried porphyry related mineralized systems. The property lies at the northeast end of a 50+
kilometer belt that is host to multiple porphyry copper mines and prospects. These include the
nearby Miami- Inspiration producing complex operated by Freeport McMoRan and the newly
discovered Ocelot project being explored by BHP. Both occur along strike from our Phoenix Silver
property, where multiple select grab samples have returned high copper and silver values (see
Figures 1 and 2 and News Release of June 6, 2024)
The geophysical program will cover an area of 100 km2 and consists of a helicopter borne Z-Axis
Tipper Electromagnetic system (ZTEM) survey that will be conducted by Geotech Ltd. This type
of electromagnetic survey has been particularly successful in delineating alteration halos
associated with porphyry copper deposits around the world. At the Phoenix Silver project, the
survey is expected to be useful in outlining structures as well as areas of hydrothermal alteration
potentially related to mineralization.
The survey will be completed in October 2024, with data processing and interpretation to follow.
Once t his data is integrated with existing geological, geochemical, and geophysical data, it is
hoped that new silver and copper targets will be identified.
Greg Crowe, Silver One’s President, CEO and Director, commented, “The silver targets o n the
property continue being the focus of our exploration and, to that end, the company commenced
drilling the first week of October (see News Release of Oct. 2, 2024) . The potential for copper,
however, is also compelling and as such we have commenced an airborne ZTEM survey to assess
the porphyry copper potential in the property. This type of mineralization is similar to the along
strike and nearby Miami copper complex being operated by Freeport McMoRan and the recently
discovered Ocelot porphyry system being explored by BHP. The Ocelot hosts multiple intercepts
of 250+ meters averaging 0.6- 0.7% copper and lies beneath the historic Dominion mine that
produced base metals, silver, and gold from near surface veins. Both the Miami and Ocelot are
along strike and are part of a 5 0+ km long porphyry belt that projects northeastwards beneath
the Phoenix Silver project.”
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.
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 and BHP’s porphyry copper
discovery area. 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.
Figure 2 – Map of the Phoenix Silver property, showing main veins and targets. Target#1 (or 417 Target
Area) encompasses the 417 lb silver fragment and multiple veins currently undergoing drilling. Targets
south of the 417 area, include polymetallic veins as well as alteration zones potentially associated with
porphyry-style mineralization.
About Silver One
Silver One is focused on the exploration and development of quality silver projects. The Company
holds 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 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 : [email protected]
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.
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