SILVER ONE RECEIVES FINAL DRILL RESULTS FROM ITS PHOENIX SILVER PROJECT, ARIZONA TRACES SILVER-COPPER BEARING STRUCTURE ALONG STRIKE

Rhea-AI Summary

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.

Positive

• Best drill intercept showed high-grade results of 3,800 g/t silver with 0.97% copper
• Successfully traced silver-copper bearing structure along 250 meters strike length
• Identified five new silver targets and two porphyry copper-silver targets
• Property located within 5km of major mining operations including Freeport McMoRan's Miami-Inspiration complex

Negative

• Most drill holes showed only elevated (not high-grade) silver and base metals values
• Did not encounter very high-grade intercepts similar to surface vein fragments
• Three holes (1, 10, and 22) either missed the vein, were barren, or failed to recover core

VANCOUVER, BC, Feb. 24, 2025 /PRNewswire/ -- Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") announces the analytical results for samples collected in the 2024 diamond drill program completed in the 417 area ("417") on its Phoenix Silver Property (Figure 1). The close spaced drill program (average 23 m between vein intercepts) targeted an east-west trending, steeply dipping structure, just upslope from the large (up to 417 pounds) angular vein fragments thought to be derived from these structures (see Figure 2 and news releases of May 15, 2024, and February 5, 2020). With exception of hole 1 that did not intersect the vein, hole 10 (barren) and hole 22 that did not recover core in the vein zone, elevated silver and or base metals (Zn, Pb, Cu), values were encountered in all other holes along the 250 meters of the east-west vein-structure (see Table 1). 

The program consisted of 30 core holes from 6 drill pads, totalling 1,955 meters which traced the vein- structures for over 250 m east-west. The drill holes were drilled in HQ size core (63.5mm diameter) with an average depth of 64 m. The best intercept returned 3,800 g/t silver with 0.97% copper over 0.35 m within a quartz breccia (See selected assays in Table 1). This intersection is near the 417 vein fragment area. The presence of silver and base metals along the length of the structure tested suggests this fracture system may still host higher-grade material between or downdip from the drill hole intercepts, as well as elsewhere along the western and eastern extensions of the host structure.

Several other silver and copper exploration targets have been outlined through geological mapping, sampling and the recent ZTEM airborne electromagnetic survey completed by the Company in late 2024 (see Company news release of February 20, 2025). Five silver targets outside the 417 area were identified and two porphyry copper-silver targets were prioritized for additional exploration. The silver target at higher elevations to the north of 417 is of particular importance, as it is characterized by a 1.5 km train comprised of 40 silver fragments weighing up to 9 kg (20 lb) (Nuggets-North Target - Figure 3). Further work on this silver anomaly is highly warranted.

Silver One will look at conducting a close spaced gravity survey over the 417 area to help define the locations of potential concentrations of silver. The gravity survey will examine strong density differences between the host rock (average density of 2.65 - 2.90 gm/cubic centimeter) and concentrations of silver (100% silver has a density of 10.5 gm/cubic cm). This will help in deciding targeting locations of future drill holes. Planned work also includes, mapping and sampling at the Nuggets-North area, as well as induced polarization over the porphyry targets on the southern part of the property, all in preparation for selecting future drill targets.

Greg Crowe, Silver One's President, CEO and Director, commented, "The results of the 2024 drill program illustrate the continuity of the silver and base metal bearing structures along the 250+ meters of strike tested. The 2024 drill program did not encounter very high-grade intercepts similar to the large angular vein fragments in the 417 area, as these lens-like concentrations of high-grade material may be present between drill intercepts or down-dip of the area tested.  These structures appear to continue westwards towards the Mexican Mine (see Figure 1), where high-grade silver has been historically documented (Arizona Republic, 23 April 1903 originally published in the Globe Times). Several other silver targets were identified though geological sampling and geophysics and need to be further evaluated.

Also, the recently completed airborne ZTEM survey, along with select surface copper and silver rock samples, have identified two high priority copper-silver targets in the southern part of the property (see news release of February 20, 2025, and Figure 3). Phoenix Silver is within a prolific 50+ km long porphyry copper and silver producing belt. Freeport McMoRan's Miami-Inspiration mining complex and BHP's new Ocelot porphyry discovery are along strike and lie within 5 km of Phoenix Silver.

The Phoenix Silver property remains highly prospective for both silver vein and porphyry style mineralization. More detailed geophysical and mapping/sampling programs are being considered in preparation for future drilling."

 

Table 1. Selected anomalous assays from Phoenix Silver core drilling samples. Intervals reported are near true widths, except for holes 3, 5, 7, 24 (70% to 76% of the intercept), and holes 21 and 23 (25% of the intercept). Anomalous samples over 10 g/t silver are included in table below. Holes not listed contain at least a sample, between 0.15 m and 0.35 m with elevated (over 500 ppm) copper, lead or zinc.

HOLE ID	Sample Number	From (m)	To (m)	Interval (m)	Ag g/t	Cu ppm	Pb ppm	Zn ppm
PS-24-02	200921	15.24	17.68	12	55	55	128	587
PS-24-02	200922	17.68	19.81	33	33	34	143	603
PS-24-03	200923	13.26	15.24	52	52	114	103	906
PS-24-03	200924	15.24	17.83	30	30	376	159	567
PS-24-03	200925	17.83	19.81	1.98	13	136	42	705
PS-24-03	200926	19.81	21.79	1.98	15	165	69	695
PS-24-03	200927	21.79	23.32	1.52	20	67	54	626
PS-24-03	200928	23.32	24.84	1.52	10	42	36	835
PS-24-03	200929	24.84	26.37	1.52	12	70	74	568
PS-24-04	200910	18.67	19.08	0.41	68	725	374	892
PS-24-04	200911	19.08	19.43	0.35	3,816	9,725	3,628	922
PS-24-04	200912	19.43	21.11	1.68	79	567	213	1,086
PS-24-04	200913	21.11	23.13	2.03	90	221	41	1,209
PS-24-04	200914	23.13	25.09	1.95	85	113	26	812
PS-24-04	200915	25.09	27.89	2.80	63	34	28	737
PS-24-04	200916	27.89	29.57	1.68	34	5	26	821
PS-24-05	200931	23.47	25.60	2.13	11	24	74	652
PS-24-05	200932	25.60	27.74	2.13	35	258	86	1,003
PS-24-05	200933	43.89	46.33	2.44	24	406	52	784
PS-24-05	200934	46.33	48.54	2.21	28	328	61	972
PS-24-07	200936	12.80	15.24	2.44	12	45	61	578
PS-24-07	200937	15.24	17.37	2.13	21	146	65	626
PS-24-14	200947	45.42	47.55	2.13	33	346	62	791
PS-24-14	200948	54.25	56.39	2.13	15	160	27	497
PS-24-16	303	23.47	24.68	1.21	49	1,316	349	1,282
PS-24-20	335	35.36	39.93	4.57	16	47	61	502
PS-24-21	306	85.34	87.17	1.83	26	83	330	601
PS-24-21	307	87.17	89.00	1.83	30	100	232	721
PS-24-21	308	89.00	90.53	1.52	20	68	252	1,387
PS-24-21	309	90.53	93.04	2.51	10	40	231	1,151
PS-24-23	318	114.00	115.82	1.83	54	1,169	136	1,100
PS-24-24	319	41.15	43.89	2.74	31	120	139	722
PS-24-28	324	53.95	56.54	2.59	11	96	66	1,385
PS-24-28	326	81.99	83.82	1.83	14	15	241	828
PS-24-28	327	95.94	97.11	1.17	19	17	259	784
PS-24-30	331	36.26	37.62	1.36	3	30	2,747	468

 

Sampling, Analytical and QA/QC

Seventy-six rock samples from core drilling were collected by Company geologists. All core was drilled in HQ diameter and samples were saw-cut on site after being washed, logged, photographed and analyzed with a portable X-ray pXRF Delta Professional analyzer. One-half was used for wet-chemical analysis and the other half returned to its box for storage at a company facility in Globe, Arizona. Samples varying in size from approximately 1 kg to 11 kg were dropped off by Company personnel at SGS Laboratories ("SGS") sample preparation facility in Tempe, AZ, thence shipped by SGS personnel to SGS laboratory in Burnaby, BC., Canada (ISO accredited Laboratory, ISO/IEC17025:2017, SCC file # 15919) for analysis. Samples were analyzed by ICP/MS for thirty-four elements with four-acid digestion (SGS code GE.ICP40Q12). Over limit copper, lead and zinc were analyzed by ore-grade four acid digestion ICP (0.5 g sample) code GE.ICP42Q100. Overlimit silver was analyzed by 30 g FA/Gravimetric assay (code GO.FAG37V). Silver One inserted three standards (sourced from OREAS® Certified Reference Material), three blanks and one duplicate in the sample stream. No analytical issues were observed. SGS also inserts blanks, standards and includes duplicate analyses to ensure proper sample preparation and equipment calibration.

Table 2. Drill hole coordinates (UTM NAD83-12S) and other ID data.  Phoenix Silver Core-Drilling.

Hole	Easting UTM NAD83	Northing UTM NAD83	Elevation meters	Azimuth	Incl	Depth meters
PS24-01	519179	3705806	1191	0.0	-90.0	51.8
PS24-02	519181	3705801	1191	173.0	-50.0	29.9
PS24-03	519181	3705801	1191	173.0	-75.0	32.0
PS24-04	519181	3705806	1191	235.0	-45.0	39.0
PS24-05	519181	3705805	1191	235.0	-72.0	53.0
PS24-06	519182	3705797	1191	140.0	-45.0	32.3
PS24-07	519182	3705797	1191	140.0	-75.0	55.2
PS24-08	519233	3705827	1201	180.0	-45.0	58.2
PS24-09	519233	3705827	1201	180.0	-60.0	61.0
PS24-10	519233	3705832	1201	0.0	-90.0	119.9
PS24-11	519233	3705836	1201	205.0	-45.0	55.2
PS24-12	519233	3705836	1201	205.0	-75.0	77.1
PS24-13	519233	3705831	1201	160.0	-45.0	28.1
PS24-13A	519233	3705831	1201	160.0	-45.0	70.4
PS24-14	519233	3705832	1201	160.0	-75.0	67.4
PS24-15	519233	3705832	1201	160.0	-60.0	69.2
PS24-16	519273	3705822	1209	180.0	-45.0	48.8
PS24-17	519273	3705822	1209	180.0	-75.0	71.0
PS24-18	519274	3705822	1209	0.0	-90.0	75.6
PS24-19	519273	3705823	1209	150.0	-50.0	60.0
PS24-20	519130	3705770	1190	0.0	-50.0	51.2
PS24-21	519130	3705767	1190	0.0	-70.0	103.0
PS24-22	519130	3705767	1190	30.0	-50.0	53.3
PS24-23	519130	3705767	1190	30.0	-70.0	124.4
PS24-24	519130	3705767	1190	332.0	-50.0	62.5
PS24-25	519059	3705776	1179	355.0	-50.0	46.3
PS24-26	519059	3705776	1179	355.0	-75.0	73.1
PS24-27	519059	3705776	1179	25.0	-45.0	53.6
PS24-28	519274	3705823	1209	120.0	-45.0	100.0
PS24-29	519274	3705823	1209	205.0	-50.0	86.3
PS24-30	519113	3705733	1186	140.0	-75.0	46.4

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 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. 

Photo: https://mma.prnewswire.com/media/2625786/Figure_1___Map_of_the_417__and_Mexican_Mine.jpg
Photo: https://mma.prnewswire.com/media/2625785/Figure_2___Plan_view_of_Phoenix_Silver.jpg
Photo: https://mma.prnewswire.com/media/2625784/Figure_3___Priority_targets_on_ZTEM_resistivity.jpg

 

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SOURCE Silver One Resources Inc.

FAQ

What were the best drill results from SLVRF's Phoenix Silver Project in 2024?

The best intercept from the 2024 drill program returned 3,800 g/t silver with 0.97% copper over 0.35m within a quartz breccia in the 417 area.

How many drill holes did SLVRF complete at Phoenix Silver in 2024?

Silver One completed 30 core holes from 6 drill pads, totaling 1,955 meters with an average depth of 64m.

What new targets has SLVRF identified at the Phoenix Silver project?

The company identified five silver targets outside the 417 area and two porphyry copper-silver targets through geological mapping, sampling, and ZTEM survey.

What is SLVRF's next exploration plan for the Phoenix Silver project?

Silver One plans to conduct a close-spaced gravity survey over the 417 area, mapping and sampling at the Nuggets-North area, and induced polarization over the porphyry targets.

How long is the mineralized structure SLVRF traced at Phoenix Silver?

The drill program traced the vein structures for over 250 meters along an east-west trend.