SILVER ONE DISCOVERS NEW SILVER VEIN FRAGMENTS AND OUTLINES NEW COPPER SHOWINGS ON ITS PHOENIX SILVER PROJECT IN ARIZONA

CNW Group
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VANCOUVER, BC, May 15, 2024 /CNW/ -- Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce the discovery of additional large silver vein fragments along the major east-west 417 vein structure, immediately to the west of the large angular and unabraded 417 pound (189 kg) silver vein fragment that was estimated to contain over 70% silver (see February 5, 2020, January 11, 2021 company's news releases and Figure 1).  The distribution of these newly discovered vein fragments, one weighing up to 6+ pounds (2.7 kg), extends the area of potential mineralization 600+ metres to the west of the 417 pound silver vein fragment (see Figure 2 below), significantly expanding the area of potential high-grade silver prospectivity.

Figure 1. From left to right: 5 lb silver fragment with quartz walls, 4.7 lb silver fragment (70% native silver) with dark gray coating of cerargyrite and a patch of hematized quartz, 3.4 lb silver fragment (45% native silver) with hematized quartz matrix and white quartz walls, 6.2 lb silver vein fragment with white quartz walls. See Figure 2 for location. Estimated silver contents are based on specific gravity calculations. (PRNewsfoto/Silver One Resources Inc.)

Geological reconnaissance on the new claims staked in October and December, 2023 (see company's news releases of October 23 and December 19, 2023) has also uncovered several new copper and silver prospects with up to 1,785 g/t Ag and 2.74 % Cu in selected samples (Table 1, Figure 3, and Figure 5 below).  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 immediately northeast of the Freeport McMoRan Miami copper mine and the recently discovered Ocelot porphyry project being actively explored by BHP (see Figure 4 below).

Highlights:

  • New silver fragments discoveries extend the area of potential silver vein mineralization for 600+ metres to the west of the previously discovered 417 lb (189 kg) angular and unabraded vein fragment that was estimated to contain over 70% silver and an 18.7 lb (8.5 kg) specimen assaying 459,000 g/t (14,688 oz/t) silver (see news release dated February 5, 2020).

  • The project is permitted for drilling on the potentially high-grade silver targets (See Figure 2).

  • New copper showings on recently acquired claims highlight the potential for porphyry copper mineralization immediately along strike from the Freeport McMoRan Miami copper mine and the recently discovered Ocelot porphyry project being actively explored by BHP

    • Copper values in selected samples range between 0.1% to 2.7% and silver between 10.9 g/t and 1,785 g/t containing locally abundant lead and zinc in veins, breccias and bed planes.

Greg Crowe, President and CEO of Silver One commented: "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.  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. 

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