Silver One Extends Known Mineralized Trend Over 2,600 m Along- strike at Peñasco Quemado, Sonora State, Mexico A Separate Newly Discovered Large Anomalous Area Has Also Been Identified
Silver One Extends Known Mineralized Trend Over 2,600 m Along-
strike at Peñasco Quemado, Sonora State, Mexico
A Separate Newly Discovered Large Anomalous Area Has Also Been
Identified
March 1, 2017
VANCOUVER, BRITISH COLUMBIA – Silver One Resource Inc. (Symbol: TSX-V: SVE / FSE: BRK1 / OTC:
SLVRF) (“Silver One” or the “Company) has comple ted geochemical soil surveys on its wholly owned
Peñasco Quemado (“PQ”) and La Frazada silver properties in Mexico.
At Peñasco Quemado, the results ou tline two main target areas. The first is a 3,000 meter long and 300
meter wide linear zone, characterized by strongly anomalous zinc, lead, barium and manganese, with
values up to 3500 ppm zinc and 800 ppm lead. This zone contains, at its northwestern end, the
previously reported (News Release of September 27, 2016) 9.63 million ounce silver Historic Measured
and Indicated Resource in association with mang anese and barium oxide re placement of a shallow
westward dipping conglomeratic horizon. The leng th of the potentially mineralized system has now
been expanded from the 450 meter long Historic Resource area to over 3,000 meters. The second
anomalous area is a new, as yet unexplored and un -drilled, 2,000 meter by 1,500 meter target located in
the western side of the property.
The La Frazada anomalies are more localized proximal to exposed mineralization and where
underground workings access the surface. This is po ssibly due to the extreme leaching of metals in a
tropical environment.
Silver One’s President and CEO, Greg Crowe, stated : “The geochemical results at Peñasco Quemado are
very encouraging as they put in perspective a much larger upside potential to the property than was
previously understood. These two standout explorat ion targets defined by highly anomalous zinc, lead,
barium and manganese values not only extend the pros pective strike length of the mineralized system
from the 450 meters associated with the Historic Resource to over 3,000 meters, but the association
with strongly elevated zinc and lead values suggests the possible presence of other buried zinc and lead
+/- silver bearing mineralized systems at depth Th is geochemical signature bears strong similarities to
the silver-manganese oxide and deeper zinc-lead-silv er sulphide deposits currently being successfully
evaluated by Arizona Mines at their Hermosa and Tayl or projects in Arizona. Further exploration is
clearly warranted.”
Peñasco Quemado
The geochemical survey consisted of 1,925 soil samples collected in a regular gr id with east-west lines
200 m apart and sample spacing of 100 meters covering the entire property. Sampling was completed in
December 2016 and XRF assays in January 2017. 320 Qu ality control (QA/QC) samples were analyzed at
Skyline Labs in Tucson, AZ. Skyline results correla te very well with XRF assays and confirm values
obtained by the company’s XRF analyses. 33 elements were analyzed obtaining significant anomalies of
elements associated with silver.
The Peñasco Quemado geochemical anomalies match well with known mineralized structures. The
main anomaly reflects the known mineralized body and Historic Measured and Indicated Resource and
extend the mineralized trend significantly. The most relevant elements include manganese (with
anomalous values between 0.17% and 1.1%) and barium (0.15%-0.88%), which form a 3,000 meters long
prominent envelope that wraps around the known mine ralized body located in the northwestern end of
the anomaly. Zinc (400-3500ppm) and lead (135- 800ppm) highlight certain sectors of the trend
delineated by the manganese and barium halo. A second, oval-shaped 2,000 meters long by 1,000
meters wide zinc, lead, barium and manganese anomaly, located in the western part of the property,
occurs in a conglomerate unit, however, this area ha s not been mapped or tested in detail. This area
represents a new target that has never been drilled.
Peñasco Quemado is a 3,746 hectare property located in northern Sonora, 60 km south of the town of
Sasabe on the US-Mexican border. A 2006 drilling prog ram outlined a historical measured and indicated
resource of 2.57 million tonnes at a grade of 117 g/t s ilver for a silver historic measured and indicated
resource of 9.63 million ounces. The silver mineraliz ation is associated with manganese and barium
oxides in a near surface shallow westerly dipping zo ne of polymictic conglomerate in the northern part
of the deposit, and in stockwork quartz and manganese oxides in a rhyolite dome in the southern part of
the deposit.
La Frazada
The La Frazada survey consists of 222 soil samples colle cted in in a regular grid with east-west lines 100
m apart and sample spacing of 100 meters covering the entire property grid and analyzed for 33
elements. Soil sampling was completed as planne d on December 2016 and XRF assaying conducted in
January 2017.
The results reveal lead-zinc-copp er and antimony anomalies that correlate with known mineralized
veins. Portions of the veins however, do not sh ow contrast with background values. The tropical
weather of Frazada has leached silver and to some extent other elements such as zinc and copper that
are more easily detectable in dry weather. Th us, the vein is not easily visible with the soil
geochemistry. Despite such limitations, certain elements are useful to identify the veins and delineate
extensions of the mineralized trends. Antimony, fo r example, roughly correlates with the Jabalina East
vein. Lead, zinc and copper roughly correlate with the Frazada vein in the eastern part of the property
and indicate that the vein extends an additional 300 meters to the west.
La Frazada property consists of semi-parallel epithermal silver-lead-zinc veins located in the historic Real
del Zopilote mining district in Nayarit. The proper ty hosts a total historical resource of 4.70 million
ounces of silver in the Measured plus Indicated categories plus 3.86 million ounces of silver Inferred (see
News Release of September 27, 2016.
Sampling and Assay Procedure
All samples were analyzed by Silver One professional personnel with a pXRF instrument and verified by
Skyline Labs in Tucson, AZ (ISO/IEC 17025:2005. Th e samples were collected wi th plastic spoon in the
C-horizon of soil, typically at the bottom of 20 to 40 cm deep pre-dug pits and then sieved at minus 10
mesh in the field before placing approximately 300 gr ams in pre-labeled ziplock bags. pXRF assays were
conducted with an Olympus Delta-Pr emium 50kV analyzer mounted in a test stand reading through the
Ziploc bag in soil mode (2 beam 30 sec each). Dupl icates and resplits were done every 25 samples, Si
blank and two standards were analyzed every 100 sa mples. QA/QC was conducted periodically at the
end each shift by XRF operator. Verification samples were assayed by Skyline Labs in Tucson, AZ (ISO/IEC
17025:2005). Skyline further prepared the samples (d ry and sieve at -80 mesh) and analyzed 32
elements by ICP/OES. The laborato ry includes routine Canadian Certified Reference Materials (CCRM),
in-house standards and blank sample s with each sample submission. Silver One ensures that chain-of-
custody is maintained at all time from point of collection to delivery to the assay laboratory.
Relinquishment of Margurete Gold Property
Due to Silver One’s acquisition of its three significant silver assets located in Mexico and its option to
acquire the Candelaria Silver Project, Silver One has terminated its option to acquire the Margurete Gold
Property, located in British Columbia.
About Silver One
Silver One is a silver focused exploration and deve lopment company that holds a 100% interest in three
significant silver assets located in Mexico acquire d from First Mining Finance (TSX-V: FF). Through this
transaction First Mining Finance became a key sharehol der. Silver One has also entered into an Option
Agreement with Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) to acquire a 100% interest in
the past producing Candeleria Mine. The Candelaria Mine lies within the Candelaria Mining District,
historically the richest silver mining district in Nevada and previously produced over 69,000,000mm oz
of silver and subject of a substantial historic resour ce estimate. Silver One has initiated an exploration
program to update the historical resource estimates on two of its Mexican properties with plans to
explore the high-grade target on the third project. As well Silver One is working with Silver Standard to
develop a work program on the Candelaria project to explore high grade deeper targets discovered
through a previous drill program by Silver Standard. For more information on Silver One and a summary
of its historic resource estimates please visit the website at www.silverone.com.
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.
For more information, please contact:
Silver One Resources Inc.
Greg Crowe, President and CEO
Phone : (604) 974-5274
Email : [email protected]
Forward-Looking Statements
Information set forth in this news release contai ns forward-looking statements that are based on
assumptions as of the date of this news releas e. 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 ar e 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 uncert ainties relating to Silver One’s limited operating
history and the need to comply with environmental a nd governmental regulations. Accordingly, actual
and future events, conditions and results may differ ma terially from the estimates, beliefs, intentions
and expectations expressed or implied in the forw ard looking information. Except as required under
applicable securities legislation, Silver One undert akes no obligation to publicly update or revise
forward-looking information.
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ADEQUACY OR ACCURACY OF THIS RELEASE.