Silver One Commences Exploration on Its Cherokee Project, Nevada
Silver One Commences Exploration on Its
Cherokee Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) -
Silver One Resources Inc. (TSXV:
SVE) (OTCQX: SLVRF) (FSE: BRK1)
("Silver One" or the "Company") is pleased to announce the
commencement of its 2020 exploration season on its 100% owned Cherokee Project in eastern
Nevada.
Cherokee is a high-grade, silver-copper and gold project hosting multiple northwest trending,
epithermal style, precious and base metal bearing vein systems.
Two main structures that are host to
these veins have been traced for over 12 km along strike. Several new areas of alteration and veining
were discovered in the 2019-2020 exploration program (see Company News Release of June 20,
2020).
Mapping and sampling of these prospective high-grade vein systems in the Garden Mountain,
Viola and Blues Nose areas will be undertaken.
Additional sampling will also be conducted at the
Johnnie and Hidden Treasure areas, with the goal of upgrading these silver and gold systems to
potential drilling targets.
A large portion of the property remains unexplored.
Greg Crowe, President and CEO of Silver One commented: "Several styles of mineralization have
been recognized to date on the Cherokee property.
These include high-grade copper-rich precious
metals epithermal style veins systems as well as areas of alteration potentially hosting polymetallic
carbonate replacement and intrusive related systems. This large property has only been partially
explored and no drilling has been documented on these systems.
The only drilling recorded is in the
southeast corner of the property, conducted in 1970-1980's apparently looking for buried intrusive
related porphyry molybdenum.
The work planned will help to better delineate and rank exploration
targets as well as to select those that warrant drilling".
The current exploration program is estimated to take 90 days and will consist of detailed sampling and
mapping in the recently discovered Garden Mountain, Viola and Blue Nose areas.
More work will also
be conducted in the areas of previously sampled high-grade silver-copper veining at the Cherokee Mine,
where select surface sampling returned values as high as 953 gm/t silver and 4.8% copper.
The Johnnie
and hidden Treasure vein systems will also be more thoroughly sampled.
Select samples at Hidden
Treasure returned up to 1800 gm/t silver and 2 gm/t gold (see map below and July 9 and 19, 2018;
October 23, 2018; September 3, 2019 and November 11, 2019 news releases).
The results of these
surveys will help delineate drill targets for a possible drill program in Q4 2020.
Fig 1, TMI-RTP Total magnetic intensity, reduced to the pole map.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4730/61165_8906dbc8d4770a86_001full.jpg
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Crowe, P. Geo,
President and CEO of Silver One, 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 Silver Mine, Nevada.
Potential reprocessing of silver from the historic leach pads at
Candelaria is being investigated.
Additional opportunities lie in previously identified high-grade silver
intercepts down-dip and the possibility of 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 12 km along-strike.
The property also has potential for
limestone related polymetallic plus silver and gold and/or other intrusive related systems at depth.
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.
In addition, the Company also holds a 100% interest in three significant silver assets located in Mexico -
Peñasco Quemado, Sonora; La Frazada, Nayarit; and Pluton, Durango.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey
Phone: (720) 273-6224
Email:
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 no 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 its
mineral properties, 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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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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