Silver One Completes Drilling at 100% -owned Cherokee Silver-Gold-Copper Project in Nevada


Vancouver, BC – The press wire – November 16, 2021 – Silver One Resources Inc. (TSXV: SVE) (OTC: SLVRF) (FSE: BRK1)(“Silver One” or the “Company”) is pleased to announce the completion of the 796-meter planned 1,500-meter diamond drill program on its 100% -owned Cherokee project located in eastern Nevada, United States (see the company’s August 15 press release 2021). Silver One experienced extremely slow drilling and engineering problems, which led to the premature termination of this program. Therefore, the Company has not been able to fully test all of the desired targets.

Four of the nine holes intersected strongly anomalous silver and copper mineralization near the historic Cherokee and Southeast Cherokee workings (see Figure 1 and Table 1). Mineralization is associated with thick quartz veins (up to 25 meters thick in hole GC21-01) containing narrower intervals mineralized in silver and copper in the vein and structures (see Figures 2 and 3).

Figure 1. Geological map showing the location of drill holes in the Cherokee and Cherokee southeast regions.

Click on the image to view it in full size

Table 1. Relevant analyzes Forage Cherokee

Click on the image to view it in full size

Drill holes GC21-03, 05, 07, 08 and 09 are omitted because they had no significant mineral value. The estimated true widths vary from 70% to 90% of the reported intervals. The coordinates and identification data of the drill holes can be found in Table 2 at the end of this release.

Figures 2 and 3. Drill hole GC21-01, 3 Native silver wire in quartz carbonate grains in hole GC21-01.

Click on the image to view it in full size

Figure 2 – Silver-copper mineralization

Click on the image to view it in full size

Figure 3 – Native wire silver in the drill core

The highest intersections were around the Cherokee mine with values ​​in hole GC21-01 averaging 455 g / t silver plus 1.84% copper over 1.55 meters from 16, 85 meters, in an interval of 6.29 meters averaging 118 g / t silver plus 0.47% copper from 13.56 meters. Hole GC21-02 intercepted 4.88 meters of 59 g / t silver plus 0.28% copper from 46.02 meters. Hole GC21-06 intercepted 5.45 meters of 80 g / t silver plus 0.40% copper at 38.80 meters. All mineralized intervals lie within 50 meters of the surface. (Figure 1 and Table 1). Drilling around the Cherokee Southeast workings returned abnormal but low silver and copper values. Drilling immediately northwest of the Cherokee yards returned only weakly anomalous silver and copper values. The mineralized intervals are also very anomalous in zinc and lead.

The borehole tested silver-copper-gold epithermal vein targets, on patent claims covering the past producing historic Cherokee and Southeast Cherokee operations. Several other targets on the property outside the patented claims have yet to be tested and some of these areas are slated for authorization in 2022. Some of the most promising targets are the areas richer in gold and silver. around the Johnnie mine and hidden treasure vein systems, an untested Mojoto vein and deeper porphyry mineralization that was the target of drilling in the 1980s in the Blue Nose and Viola areas of the property. See figures 1 and 4

Gregory Crowe, President and CEO commented; “The results of this shortened program are encouraging as mineralized structures remain open at depth and other anomalous surface values ​​occur off the patented claims northwest and southeast of the drilled area. More importantly, this program only targeted one venous system on the patent claims. Numerous other veins and alteration zones with selected high silver-copper-gold surface values ​​are found over a length of 12 km throughout the property and will be targeted after permitting in 2022. The South Zone is of the property is also very promising for the potential Porphyry type mineralization in copper and / or molybdenum, with targets identified by geophysics and surface geochemistry. The abundance of veins and alteration zones containing strongly high silver-gold-copper values ​​identifies Cherokee as a high priority exploration project.

Figure 4. Total magnetic intensity map of the Cherokee project showing the main target areas

Click on the image to view it in full size

Cherokee is an emerging silver, gold and copper epithermal district located approximately 75 kilometers south of the historic Pioche silver-gold-copper-zinc-lead mining camp. The Silver One property covers 5,200 hectares (52 square kilometers) covering a structurally controlled silver-copper-gold system 12 kilometers long by 4 kilometers wide. It is hosted by Paleozoic sediments, partly similar to the host rocks of the Pioche mineralized systems. From 1869 to the present day, the neighboring region of Pioche has mined over 6 million tonnes producing over 1 million ounces of gold, 20 million ounces of silver, 7 million pounds of copper, 350 million ounces of pounds of lead and 700 million pounds of zinc. Production initially came from epithermal veins of gold-silver-copper and later from underlying carbonate-like replacement orebodies.


The QA / QC program included the submission of certified reference materials, blanks and carrot duplicates, at random intervals. Certified standards were inserted at the rate of one standard for 20 samples (5% of the total) and one blank for 20 samples (5% of the total). Carrot duplicates were inserted at the rate of one duplicate for 20 samples (5% of the total). Standards used in the Cherokee drill program range from 5.88 g / t Ag to 493.0 g / t Ag, and come from Analytical Solutions, Ltd., Mulmur, ON, Canada and OREAS , Bayswater North, VIC, Australia. The blanks were obtained locally from sterile silica. Duplicates of carrots were obtained from carrots cut into quarters.

Samples were analyzed by American Assay Laboratories (“AAL” in Sparks, NV, USA (IAS Accredited Laboratory, ISO / IEC 17025: 2005. AAL also inserts blanks, standards and includes assays in duplicate to ensure proper sample preparation and equipment calibration).

Update of company projects

The company is also advancing its Phoenix Silver projects in Arizona and Candelaria in Nevada.

Drilling permits are pending at Phoenix Silver. A plan of operations has been filed in the Tonto National Forest (TNF) and, barring delays from TNF, authorization is expected by the end of December-2021.

A 15,000 meter RC and diamond drilling campaign was recently completed at Candelaria, and final assays were reported in the July 15, 2021 press release. Metallurgical testing is underway. A second phase of drilling should begin in December 2021 or January 2022. This drilling program will be followed by a resource estimate for an economic evaluation which should be completed by 2 hours 2022.

Qualified person

The technical content of this press 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.

Table 2. Coordinates of RC holes (UTM WGS84) and other identification data

Click on the image to view it in full size

About Silver One

Silver One is focused on the exploration and development of quality silver projects. The Company has an option to acquire a 100% interest in its flagship project, the former Candelaria mine located in Nevada. The potential reprocessing of silver from historic leaching platforms at Candelaria offers an opportunity for possible short-term production. Additional opportunities lie in previously identified high grade silver interceptions down dip and could increase substantial silver mineralization along the direction of the two former open pits.

The Company 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, hosting several silver-copper-gold vein systems, traced therein. day over more than 11 km along-hit.

Silver One has an option to acquire a 100% interest in the Silver Phoenix project. The Silver Phoenix Project is a very high grade native silver prospect located in 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 – Vice President, Investor Relations
Telephone: 604-974-5274

Mobile: (720) 273-6224
Email: [email protected]

Forward-looking statements

The information contained in this press release contains forward-looking statements based on assumptions as of the date of this press release. These statements reflect the current estimates, beliefs, intentions and expectations of management. 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 important factors, many of which are beyond the control of Silver One. These factors include, among others: the risks and uncertainties associated with Silver One’s limited operating history, the ability to obtain sufficient financing to achieve its exploration and development objectives on the Candelaria project, obtaining the permits required to operate and the need to comply with environmental and government regulations. Therefore, 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 by applicable securities legislation, Silver One assumes no obligation to publicly update or revise forward-looking information.


Source link