Silver One Resources Inc. has upgraded its Leach Pad resources at the Candelaria Project in Nevada to Measured and Indicated categories, enhancing the project’s resource confidence.
Highlights
- Leach Pad 1 (LP1) resources upgraded to 22.186 million tonnes grading 43.5 g/t silver and 0.075 g/t gold, containing 31.03 million ounces of silver and 53,498 ounces of gold.
- Leach Pad 2 (LP2) resources converted from Inferred to Indicated, now at 11.457 million tonnes grading 44.7 g/t silver and 0.10 g/t gold, containing 16.47 million ounces of silver and 36,835 ounces of gold.
- Total silver equivalent resources now stand at 49.25 million ounces in the Measured and Indicated categories for the leach pads.
- The upgraded resources will be incorporated into the ongoing Pre-Feasibility Study, expected to be completed by the end of 2026.
- Resource upgrade includes data from 137 drill holes across LP1 and LP2.
The resource update is a significant milestone for Silver One, as it enhances the confidence in the tonnage and grade of the Candelaria Project’s resources. This development is expected to positively impact the upcoming Pre-Feasibility Study, which aims to integrate revised processing and recovery assumptions, as well as updated operating and capital cost estimates.
Silver One continues to focus on advancing its Candelaria Project, with exploration drilling set to resume in September following a temporary pause. The company remains committed to unlocking value for its shareholders through strategic resource development and exploration activities.
Readers can download the full press release for more detailed information below.
Silver One Resources Inc – full press release (PDF) | Silver One Resources Inc – press release, original DOCX file
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 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 : 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.
