Silver One Stakes New Claims over Potential Porphyry Targets at Its Phoenix Silver Project, Arizona
SILVER ONE STAKES NEW CLAIMS OVER POTENTIAL PORPHYRY TARGETS
AT ITS PHOENIX SILVER PROJECT, ARIZONA
Vancouver, BC, October 23, 2023, Silver One Resources Inc. (TSXV: SVE; OTC QX: SLVRF; FSE: BRK1 –
(“Silver One” or the “Company”) is pleased to announce the staking of new claims, significantly expanding
its ground holdings at its Phoenix Silver Project near Globe, Arizona. The newly staked claims cover the
continuation of important magnetic anomalies located in the southern part of our property. These
anomalies, which are located at the northeast end of the prolific, 30+ km long, northeast- trending
Resolution-Globe/Miami Porphyry copper belt (See Figures 1 and 2) are interpreted to be potentially
related to deep porphyry copper systems.
Greg Crowe, President and CEO of Silver One commented: We are very pleased to have been able to stake
additional ground in this prime location, adjacent to and along strike from the large Freeport McMoran’s
Miami copper mine and in close proximity to BHP’s new Ocelot porphyry copper discovery. The company’s
focus has been, and continues to be , the exploration of the drill- permitted area covering the very high-
grade silver targets within the property. In addition, t his current land expansion provides an excellent
opportunity for new copper discoveries. We are fortunate to have the ability to earn a 100% interest in
the Phoenix Silver P roject which contains not only extremely high -grade silver targets, but also hosts
porphyry copper potential within an active and prolific copper-silver belt.”
Figure1 - Phoenix Silver location map.
The new staking includes 139 unpatented lode claims covering 1,162 hectares (2,872 acres). In total, the
property now covers 4,051 hectares (40.5 square kilometers or 10,011 acres) in 514 lode claims (Figures
1 and 2).
Figure 2 - Phoenix Silver Property Map. Purple shaded zones are magnetic anomalies at 600 m depth
that represent areas of low magnetic susceptibility, possibly indicative of hydrothermal alteration and
deep-seated sources of heat and hydrothermal fluids. These are potentially related to buried porphyry
copper systems.
The new claims occur along a prolific past and present producing northeast -trending, 30+ km long
porphyry copper belt. Freeport McMoran is currently operating the Miami copper mine to the southwest
of Phoenix Silver and BHP is actively exploring its Ocelot Copper discovery 5 km to the south - southwest
of the recently acquire d claims (see Figure 1). Additionally, South32 is conducting copper exploration
adjacent to the southwest p ortion of Silver One’s property. Select rock samples collected from the
southern portion of the Phoenix Silver property have returned several values over 1% copper (see Figure
2 and July 28, 2020 news release).
Magnetic Data Modelling
Drone-borne and regional m agnetic data modelling reveals strong magnetic anomalies in the property
which are similar to those found at Globe-Miami (Fig. 2).
The drone-borne magnetic data comes from a detailed survey commissioned by Silver One in 2019 which
was reprocessed and modeled to identify magneti c bodies and alteration areas The modelling has also
been useful in identifying structures which can typically control the silver and other mineralization in the
district (see Jan 11, 2021 News Release).
The modelling reveals a series of anomalies that represent areas of low magnetic susceptibility indicative
of hydrothermal alteration and deep-seated sources of heat and hydrothermal fluids, potentially related
to porphyry copper systems. See Fig 2 shows anomalies at a depth of 600 metres. Geophysical processing
and interpretation indicate the above magnetic features in the property are best developed between 600
to 1800 metres depth.
Sampling
Preliminary rock sampling has been conducted on selected areas of the pre -2023 claims. Current assays
show that the silver values are concentrated in the central and north part of the property and copper,
including values over 1%, are concentrated in the southern part of the property (See Fig 2 and July 28,
2020 News Release). Rock sampling and geophysics ( induced polarization and electromagnetic surveys)
are planned over the prospective areas. Additionally, Silver One is planning to drill the very high-grade
silver targets surrounding the 417 pound silver vein fragment area in the coming months.
New Advisor
The Company is also pleased to announce a new appointment. Mr. John DeCooman will join the company
to offer corporate and financial advice.
Mr. DeCooman has nearly 30 years of executive leadership and board director experience relating to
corporate strategy, finance, metals concentrate sales, capital markets, mergers, acquisitions and
divestitures. Most recently, from 2020 to 2023, he was responsible for the acquisition and start -up of
Sweetwater Royalties as President and CEO, a $1.3 billion, privately -held base and industrial minerals
royalty company. Prior to this, he was Senior Vice President for Business Development a nd Strategy at
SSR Mining from 2009 to 2020. He also served in various analyst and investment capacities for more than
ten years at Deutsche Banc. Alex Brown, Standard Bank and Echo Bay Mines. Mr. DeCooman is a graduate
of The Pennsylvania State Univers ity with a Bachelor of Science, Mineral Economics and the Colorado
School of Mines with a Master of Science, Mineral Economics.
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: [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 undertak es no
obligation to publicly update or revise forward-looking information.
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