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Correction from Source: Silver One Receives Permit to Drill Historic Leach Pads at Its Candelaria Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2017) - The following is a correcte...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Correction from Source: Silver One Receives Permit to Drill Historic Leach Pads at Its Candelaria Project, NevadaVancouver, British Columbia--(Newsfile Corp. - October 31, 2017) - The following is a corrected news release issued by Silver One Resources Inc. (TSXV: SVE) (OTC Pink: SLVRF) (FSE: BRK1) (“Silver One”) to provide clarity on the historical resource estimate.Silver One is pleased to announce that it has received permitting from the Bureau of Land Management (\"BLM\") to commence drilling of the historic leach pads at its past producing Candelaria silver project in Nevada. Drilling is expected to commence in November 2017.Greg Crowe, President and CEO of Silver One commented: \"With the closing of the previously announced C$4.3 million financing and the receipt of the BLM permit, Silver One is now in a strong position to advance its flagship Candelaria past producing silver project in Nevada. Drill testing of the old leach pads, which have a previously disclosed historic inferred resource (see table below) of over 48 million ounces of silver averaging 1.29 oz/t silver (40 g/t), will be our first priority. Drill samples will be submitted for analytical and metallurgical studies to assess the potential of reprocessing the old leach pads to recover silver in a near-term leaching operation. Silver One will also be exploring the potential for down-dip high grade silver mineralization north of the two past producing open pits and historic resource area, where drill intercepts as high as 670 g/t (21.4 oz/t) over 13.7 metres were encountered. Additionally, numerous old workings that occur along strike from the open pits will be examined to determine the potential of adding new silver resources at Candelaria.\" The historical resource estimate was reported by SSR Mining Inc. (formerly, Silver Standard Resources Inc.) in a technical report titled \"Candelaria Project Technical Report\" dated May 24, 2001 (filed on EDAR on June 20, 2002), prepared by Pincock Allen & Holt. The historical mineral resource estimate used \"measured mineral resource\", \"indicated mineral resource\" and \"inferred mineral resource\", which are categories set out in NI 43-101. Accordingly, Silver One considers these historical estimates reliable as well as relevant as it represents key targets for exploration work by Silver One. The qua...