Silver One Res Inc - SLVRF STOCK NEWS

Silver One Resources (SLVRF) has announced results from its 2024 diamond drill program at the Phoenix Silver Property's 417 area in Arizona. The program, consisting of 30 core holes totaling 1,955 meters, traced vein structures over 250 meters east-west. The best intercept yielded 3,800 g/t silver with 0.97% copper over 0.35m within a quartz breccia near the 417 vein fragment area.

The company identified five silver targets outside the 417 area and two porphyry copper-silver targets through geological mapping, sampling, and a recent ZTEM airborne electromagnetic survey. A notable silver target, the Nuggets-North Target, features a 1.5 km train of 40 silver fragments weighing up to 9 kg.

Future plans include conducting a close-spaced gravity survey over the 417 area, mapping and sampling at the Nuggets-North area, and induced polarization over the porphyry targets to prepare for future drilling campaigns.

Silver One Resources (SLVRF) has announced significant findings from its ZTEM airborne geophysical survey at the Phoenix Silver Project near Globe, Arizona. The survey identified two priority copper targets and five priority silver targets recommended for further exploration.

The copper targets show characteristics of porphyry copper deposits, with geophysical features similar to BHP's Ocelot copper deposit. The project area lies within a prolific copper belt that includes major operations from Freeport McMoRan, Capstone Copper, KGHM, and Rio Tinto-BHP.

Four of the five silver targets are located outside the previously drilled 417 area. A sixth silver target was identified north of the 417 area, marked by 40+ silver nuggets weighing up to 9.5 kilograms each, with estimated silver content exceeding 20%.

The company has staked additional claims in the southwest part of the property to cover the Defiance geophysical and geochemical target. The ZTEM survey revealed conductive zones potentially related to copper sulfides at relatively shallow depths of 500 meters, sharing similarities with BHP/Rio Tinto's Resolution copper deposit.

Silver One Resources Inc. (SLVRF) has initiated a property-wide airborne geophysical survey at its Phoenix Silver Project near Globe, Arizona. The survey aims to identify areas of alteration potentially associated with buried porphyry-related mineralized systems. The project is located at the northeast end of a 50+ kilometer belt hosting multiple porphyry copper mines and prospects.

The survey covers 100 km2 using a Z-Axis Tipper Electromagnetic system (ZTEM), conducted by Geotech This method has been successful in delineating alteration halos associated with porphyry copper deposits globally. The survey is expected to outline structures and areas of hydrothermal alteration potentially related to mineralization.

Scheduled for completion in October 2024, the survey data will be integrated with existing geological, geochemical, and geophysical data to identify new silver and copper targets. Silver One's CEO, Greg Crowe, emphasized that while silver targets remain the focus, the copper potential is compelling, prompting the ZTEM survey to assess porphyry copper potential in the property.

Silver One Resources has commenced drilling at its Phoenix Silver Project near Globe, Arizona. The program involves 2,500 meters of core drilling across up to 40 holes, targeting high-grade silver vein fragments, including a notable 417-pound fragment containing up to 70% native silver. Previous samples from the site have assayed up to 459,000 g/t silver. The drilling aims to explore the 417 Target Area, identified through various surveys and mapping. The project is promising, with multiple high-grade silver fragments found at shallow depths, suggesting proximity to the source. The current permit covers the 417 Target Area, but less than 50% of the property has been prospected, indicating potential for further discoveries.

Silver One Resources Inc. (SLVRF) has begun road and drill pad construction at its Phoenix Silver Project near Globe, Arizona, preparing for a 2,500-meter diamond drilling program set to start in early October. The main target is the 417 Target Area, potentially the source of high-grade silver vein fragments, including a 417-pound specimen estimated to contain up to 70% native silver. Other samples have assayed up to 459,000 g/t silver.

The company also plans a ZTEM geophysical survey in late September to identify alteration and mineralization zones, particularly in the southern part of the property where samples have shown over 1% copper with high silver values. This mineralization may be related to a buried porphyry system similar to nearby copper complexes.

Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) has contracted Geotech Airborne Geophysical Surveys to conduct a ZTEM survey over its Phoenix Silver project in Arizona. The survey aims to detect large alteration systems and structures potentially hosting mineralization, particularly in the southern portion where previous surveys and high-grade samples suggest a copper-silver system at depth.

The company plans to begin road and pad building for drilling high-grade silver targets in the 417 area, where large vein fragments containing over 70% silver were previously uncovered. Select sample assays have returned up to 459,000 gram/tonne silver. The drilling program is fully permitted and funded, awaiting improved weather conditions.

Additionally, Silver One has granted options to purchase 3,705,000 common shares to directors, officers, and consultants, exercisable at $0.24 per share with a five-year expiration.

Silver One Resources has successfully closed an oversubscribed financing round, raising $5.9 million through a non-brokered private placement, issuing 21,099,138 units at $0.28 per unit. Each unit includes one common share and one-half of a common share purchase warrant. Proceeds will fund drilling high-grade silver targets at the Phoenix Silver Project, geophysical work, and ongoing metallurgical studies at Candelaria. The shares will be restricted from resale until October 21, 2024. Finder fees amounted to $78,120.48 with an additional 237,006 finder's warrants issued. The securities offered have not been registered under the U.S. Securities Act and may not be sold in the U.S. without compliance.

Silver One Resources announced a non-brokered private placement financing of 19,642,857 units at $0.28 per unit, totaling $5.5 million. Each unit includes one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.40 for three years. Proceeds will fund exploration, drilling, and working capital. The offering's securities will be restricted from resale for four months and one day. Additionally, the company seeks to extend the expiry date of 10,191,669 warrants from July 14, 2024, to July 14, 2025, maintaining the exercise price at $0.65. Both initiatives require TSX Venture Exchange approval.

On June 6, 2024, Silver One Resources announced the discovery of new copper and silver prospects at its Phoenix Silver Project in Arizona. Selected samples from the southern part of the property showed up to 1,240 g/t silver and 7.79% copper. The area, located northeast of Freeport McMoRan's Miami copper mine and BHP's Ocelot porphyry project, shows potential for porphyry-related copper-silver mineralization. The company is set to begin drilling high-grade silver targets in Q3 2024. Notable findings include highly anomalous copper values between 0.1% to 7.79% and silver between 1 g/t to 1,240 g/t. The project is permitted for drilling, targeting structures believed to host high-grade silver vein fragments. These discoveries extend the potential silver vein area by over 600 meters. Silver One's exploration continues to show significant promise for high-grade silver and copper mineralization.