- Silver One Resources (TSXV:SVE) has made new silver and copper discoveries on its Phoenix project in Arizona
- The Vancouver-based miner reported new silver vein fragments and outlined new copper showings on the high-grade native silver prospect
- Copper values in selected samples range between 0.1 per cent to 2.7 per cent and silver between 10.9 g/t and 1,785 g/t
- Silver One Resources Inc. last traded at $0.28 per share
Silver One Resources (TSXV:SVE) has made new silver and copper discoveries on its Phoenix project in Arizona.
The Vancouver-based miner reported new silver vein fragments and outlined new copper showings on the high-grade native silver prospect, which was recently permitted for drilling and lies within the “Arizona Silver Belt.”
New fragment and zone discoveries
New large silver vein fragments were unearthed along the major east-west 417 vein structure, next to a large angular and unabraded 189 kilogram silver vein fragment that was estimated to contain more than 70 per cent silver. The distribution of these newly discovered vein fragments, one weighing up to 2.7 kg, extends the area of potential mineralization more than 600 metres to the west of the 417 pound silver vein fragment, which the team says significantly expands the area of potential high-grade silver prospectivity.
The company conducted geological reconnaissance on the new claims staked in October and December 2023 which also uncovered several new copper and silver prospects with up to 1,785 g/t silver and 2.74 per cent copper. The southern portion of the Phoenix Silver property has numerous copper and silver showings and hosts potential for the discovery of porphyry related copper mineralization. The southern part of the project is northeast of the Freeport McMoRan Miami copper mine and the recently discovered Ocelot porphyry project being explored by BHP Ltd. (OTC Pink:BHPLF).
“The Phoenix Silver project continues to evolve, not only in the size and distribution of mineralized areas, but also in the very nature of the mineralized systems,” Silver One’s president and chief executive, Greg Crowe, said in a news release. “What started as a rare opportunity in potentially identifying areas of extremely rich silver vein mineralization, has now expanded to include large areas of copper-silver porphyry potential.”
Selected assay results
|
Sample |
Ag (g/t) |
Pb (per cent) |
Zn (per cent) |
Cu (per cent) |
MnO (per cent) |
Fe2O3 (per cent) |
Mo (ppm) |
Description |
|
91812 |
33.9 |
0.07 |
0.06 |
0.01 |
0.09 |
1.72 |
12.50 |
Silicified breccia |
|
91813 |
195.0 |
0.19 |
0.34 |
0.05 |
3.83 |
2.85 |
5.00 |
Silicified breccia with MnFeOx in matrix |
|
91814 |
588.0 |
2.54 |
7.44 |
1.17 |
12.90 |
18.70 |
44.20 |
5m quartz-manganese vein w/CuOx in vn&bed planes |
|
91815 |
36.9 |
0.21 |
0.17 |
0.01 |
2.59 |
1.65 |
4.34 |
3m silicified breccia with MnFeOx |
|
98009 |
1,695.0 |
0.36 |
0.08 |
1.46 |
0.47 |
3.76 |
3.04 |
Abdt FeMnOx & malachite in veinlets and fractures in quartzite |
|
98010 |
548.0 |
1.42 |
0.59 |
0.55 |
5.70 |
6.82 |
11.65 |
Fractured quartzite with MnFeOx veins |
|
98011 |
10.9 |
0.01 |
0.09 |
2.74 |
0.05 |
4.00 |
2.05 |
Bedded quartzite w/malachite & CuOx in bed planes |
|
98012 |
1,785.0 |
1.50 |
0.26 |
0.61 |
3.40 |
4.49 |
11.30 |
Silicified breccia with MnFeOx and local CuOx |
|
98019 |
116.0 |
0.43 |
0.09 |
0.13 |
1.94 |
2.03 |
8.75 |
Quartz vein with FeMnOx |
About Silver One Resources
Silver One Resources Inc. is focused on the exploration and development of silver projects. It is engaged in three projects: Candelaria, Cherokee and Silver Phoenix. The company owns a total interest in its flagship project, the past-producing Candelaria silver project.
Silver One Resources Inc. (TSXV:SVE) last traded at $0.28 per share.
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