#USA #Nevada #Silver One #Mineral Resource #Candelaria Project

Introduction

Silver One Resources Inc., a prominent player in silver exploration, has successfully completed an extensive mineral resource estimate for its Candelaria Project, situated in Nevada, USA. This significant milestone showcases the company's commitment to maximizing the potential of its resource base and is aligned with the guidelines set out by NI 43-101, a standard adopted in Canada for mineral resource reporting.

Key Details of the Resource Estimate

The mineral resource estimate, undertaken by renowned geologist James A. McCrea, P.Geo, outlines promising findings from the project. It reveals both in-ground mineralization and stockpiles located near the historic Mount Diablo and Northern Belle pits. The study’s results indicate a substantial quantified presence of minerals, translating into considerable economic potential.

Highlights of the Resource Estimate

• - Mount Diablo and Northern Belle Pit Resources: The measure indicates a resource of 22.07 million tonnes, averaging 94 g/t Ag and 0.20 g/t Au. This translates into a total of 66.75 million ounces of silver and 141,400 ounces of gold, or about 70.84 million ounces of silver equivalent (AgEq).
• - Inferred Resource: Additionally, an inferred resource of 2.96 million tonnes, with averages of 68 g/t Ag and 0.18 g/t Au, equates to 6.46 million ounces of silver and 17,000 ounces of gold (approximately 7 million oz AgEq).
• - Underground Resource: The underground component shows a measured and indicated resource of 1.2 million tonnes averaging 168 g/t Ag and 0.27 g/t Au, providing approximately 6.45 million ounces of silver and 10,200 ounces of gold, totaling about 7.15 million oz AgEq.

Overall, Candelaria's resources now estimate a total of 108.82 million ounces of silver equivalent in the measured and indicated categories, alongside 29.81 million ounces inferred. This robust resource base not only exceeds historical estimates but suggests that further exploration may yield even more positive results.

Technological Advancements in Resource Recovery

CEO Greg Crowe expressed satisfaction with the updated mineral resource, attributing the successful results to numerous drilling interventions and metallurgical studies conducted by Silver One. The emphasis on testing innovative non-cyanide recovery technologies sets the company apart in its endeavors to enhance silver and gold recoveries while potentially reducing operational costs. This revolutionary approach aims to advance recovery rates significantly, providing a competitive edge in the mining landscape.

Future Plans and Research

As the company strategizes for the next steps, plans are in place to recommence drilling later in the year, targeting to expand in-ground mineralization further and explore higher-grade underground targets. Concurrently, ongoing metallurgical testing of the non-cyanide technology will continue, focusing on optimizing silver and gold recoveries. Silver One is also undertaking a Preliminary Economic Assessment (PEA) to evaluate these new recovery methods against traditional cyanide processing.

Continued Exploration at Candelaria

The historical significance of the Candelaria Project cannot be overstated; it was once Nevada's leading high-grade silver producer, with outputs exceeding 68 million ounces of silver during previous mining operations. Silver One is well-poised to explore options for reprocessing silver from historic leach pads at the site, presenting near-term production opportunities.

In conclusion, Silver One Resources Inc.'s latest achievements at the Candelaria Project given its in-depth mineral resource estimate, emphasizes the company's dedication to sustainable growth and exploration, ensuring favorable outcomes for its stakeholders as it ventures further into new explorative territories. Through informed strategies and cutting-edge technologies, Silver One is charting a course towards revitalizing one of Nevada's historical mining treasures.