Targets include potential venous sources of multiple vein fragments, including 417 pounds of naturally occurring silver-rich vein fragments

Vancouver, British Columbia, March 2, 2023 /CNW/ —Silver One Resources Co., Ltd. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) (“Silver One” or the “Company”) is pleased to announce that it has received a drilling permit from the U.S. Forest Service for the high-quality Phoenix Silver Project. (or “property”) near gloveArizona.

The primary area of ​​interest includes a potential source of very high quality silver vein fragments located near the 417 lb (189 kg) vein fragment discovered to the south of the site (Figures 1 and 1). 2). No analysis was performed as this piece of ore is a collector’s specimen, but gravity tests indicate a very high silver content of up to 70% natural silver (news release of ). February 5th, 2020). Small specimens, which also contained abundant visible natural silver, analyzed up to 459,000 g/t (14,688 oz/t) of silver, as determined by concentrate analysis performed at Skyline Assayers and Laboratories. Tucson, Arizona (ISO:17025:2005) (see Figure 3 and news release) February 5th, 2020). This assay result correlates well with orders of magnitude of silver found in other vein fragments, including an estimated silver specific gravity for the 417-pound vein fragment.

Figure 1 – A 417-pound vein strip containing an estimated 70% silver (measured by hydrometry). Photos are of selected samples that are not necessarily representative of the mineralization hosted on the property.

Figure 2 – A map of the 417 vein target area showing the locations of exposed veins and permitted drill pads.

Figure 3 – Fragment of a 459,000 g/t (14,688 oz/t) vein rich in visible natural silver.

Photos above are of a select sample and are not necessarily representative of the mineralization hosted on the property.

There is little rock outcropping on the site, and these fragments were discovered by prospecting and metal detection.The angular, rough-edged nature of these fragments, which were found at shallow depths under cover, attests to the fact that this material is not far from its suspected source. The drill target is just uphill from where the 417-pound fragment was found, consistent with the location of geophysical and geochemical anomalies (Figures 2 and 2). January 11, 2021 news release).

This area is tested by up to 40 diamond drill holes from 13 different drill pads (Figure 2). Drilling is expected to begin in the first half of 2023 following site preparation.

Greg CrowSilver One’s President and CEO commented: A world-class silver deposit, due to its extremely high grade and unique properties. The property not only has the potential to host large amounts of silver within a small structure, but also makes it a district-scale exploration yet-to-be-tested There are also multiple other targets that have not been explored and we look forward to starting drilling in the near future. “

Although the land has never been excavated or systematically explored with modern exploration methods, the area has been rich in history, beginning with the discovery of native silver in the late 1800s and continuing through small-scale silver mining until the 1920s. There is an extensive history of mining that began (geological and richmond basin, Gila County, ArizonaMaster’s Thesis, Otie Manley, 1935). This was followed by the discovery of a large nearby copper deposit, also in the late 1800s, which is still being mined today.Silver One’s Phoenix Silver Project occurs along a system of mineralization tectonics heading northeast of the region and is located at Freeport-McMoran. glove–Miami A copper mine is located just 10km southwest of the property and in the past produced a conventional silver mine northeast of Phoenix Silver. The staking of the property by Granite Solid (a private company) in 2018 revived silver exploration in the area. Silver One signed an option agreement with Granite Solid in 2020, giving Silver One the right to take his 100% interest in the project.

To date, six high-priority silver and polymetallic targets have been identified using drone-borne magnetic surveys and geological mapping conducted throughout the facility (Figure 4). Rock sampling, soil geochemistry, and self-potential surveys conducted in selected areas also revealed anomalies consistent with exploration targets, highlighting the importance of the 417 silver fragment target and the Mexican mining area ( July 28, 2020 and January 11, 2021 news release).

Current drilling permits cover only the 417 target area (Figures 2 and 4). This target includes a portion of 417 prospects and several other prospects totaling approximately 900 meters in length to be tested in a planned drilling program in the first half of 2023. It is the potential source of most of the large silver shards found on this property so far. However, although evidence of silver mineralization has been identified elsewhere on this property, less than 50% of the property has been surveyed and geochemically sampled, and only some (417 target areas) Note the detailed mapping. As such, Silver One’s management believes there will be positive results in several more areas and is optimistic about the potential for large-scale exploration of the property.

In addition to its extraordinary silver potential, the property also shows signs of a potential porphyry copper system at depth ( January 11, 2021 news release). Three-dimensional (3D) modeling of magnetic data reveals lineaments (faults and fissures) that may control mineralization and regions of low magnetic susceptibility indicating hydrothermal alteration and potential deep sources that destroy magnetite. has been identified. of hydrothermal fluids. The magnetic signature is similar to that of the older copper deposit of Laramid, mined by Freeport McMorran, southwest of the Phoenix Silver Project.

Overall, Phoenix Silver is a very promising property and is in the early stages of exploration. In addition to being ready to begin a short-term very high grade silver exploration drill program, the bulk of this unexplored asset hosts several other silver and potential base metal targets awaiting evaluation. doing.

Figure 4 – A map of the Phoenix Silver property showing the main veins and targets. The northern half of the site is covered by Tertiary gravel and alluvium and has not been mapped in detail. Target # 1 (or 417 target area) contains 417 pounds of silver debris, part of 417 ore vein, and areas where drilling is permitted. Targets south of Area 417 include polymetallic veins and alteration zones that may be associated with deep porphyry-type mineralization.

qualified person

The technical content of this news release is Robert M. KangP. Geo, Qualified Person as defined in National Instrument 43-101.

About Silver One

Silver One focuses on research and development of quality silver projects. The Company has an option to acquire his 100% interest in the flagship project, the previously producing Candelaria Mine in Nevada. The potential reprocessing of silver from Candelaria’s historic leaching pads offers near-future production potential. Additional opportunities lie in the decline in previously identified high-grade silver intercepts and the potential increase in substantial silver mineralization along strikes from two previous producing open pit mines. I have.

The Company owns claims to 636 prospects and entered into lease/purchase agreements to acquire five patented claims at the Cherokee Project in New York. Lincoln County, Nevadawhich is host to multiple silver-copper-gold vein systems, has been tracked over 11 km along the strike to date.

Silver One holds an option to acquire a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a prospect of very high grade native silver within the “Arizona Silver Belt” and adjacent to Arizona’s rich copper producing regions. gloveArizona.

For more information, please contact:

Silver One Resources Co., Ltd.
Gary Lindsay – Vice President, Investor Relations
Phone: 604-974–5274

Mobile: (720) 273-6224
Email: This email address is being protected from spambots. JavaScript must be enabled to view.

Forward-Looking Statements

The information contained 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. It does not guarantee future performance. Silver One cautions that all forward-looking statements are inherently uncertain and that actual results may be affected by many important factors, many of which are beyond Silver One’s control. doing. Such factors include, among others, Silver One’s limited operational history, its ability to raise sufficient funds to carry out the exploration and development objectives of the Candelaria Project, and the availability of permits required to carry out its activities. Acquire and comply with environmental and governmental regulations. Accordingly, actual and future events, circumstances 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 laws, Silver One undertakes no obligation to publicly update or revise any forward-looking information.

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