Business
Silver One Provides Drilling and Sampling Update; Announces Acquisition of Additional Ground at Its Candelaria Silver Mine Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 5, 2018) - Silver One Resources Inc. (TSX...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Silver One Provides Drilling and Sampling Update; Announces Acquisition of Additional Ground at Its Candelaria Silver Mine Project, NevadaVancouver, British Columbia--(Newsfile Corp. - March 5, 2018) - Silver One Resources Inc. (TSXV: SVE; OTC Pink: SLVRF; FSE: BRK1 - \"Silver One\" or the \"Company\") is pleased to provide an update on the drilling and sampling of the historic heap leach pads at its past producing Candelaria silver project in Nevada. The sonic drill program completed December 2017 (see Company news release of January 3, 2018) consisted of 1,110 metres in 45 holes on the historic heap leach pads, stockpiled material and old dumps left over from previous operations. Assay results for approximately 30 drill holes are currently pending and will be reported once all have been received from the lab.Composite samples will be prepared based on the final results for metallurgical testing. The metallurgical results will assist in determining the best methods to potentially recover silver from the old heaps, stockpiles and dumps. A decision will then be made regarding further studies to examine the economics associated with the recoveries of silver. Candelaria was historically the highest-grade silver producer in the state of Nevada averaging over 1,250 g/t silver from high-grade vein mining between the mid-1800s and the mid-1900s. Open pit mining operations were undertaken in the 1970s through 1998 by several companies including Nerco and Kinross. Kinross closed the open pit and leach operation in 1998 due to low silver prices. Leaching of the historic pads was not completed leaving a substantial amount of silver unprocessed. It is estimated that the property has produced over 68 million ounces of silver. Historical information was obtained from \"Geology of the Candelaria Mining District, Mineral County, Nevada, 1959, Nevada Bureau of Mines, Bulletin 56\", and the SSR Mining Inc. technical report titled \"Candelaria Project Technical Report\" dated May 24, 2001 (filed on SEDAR June 20, 2002), prepared by Pincock Allen & Holt.Greg Crowe, President and CEO of Silver One Resources commented: \"As we continue advancing our Candelaria silver project in Nevada, the importance of this historic producer becomes more apparent.   We believe there are several upside opportunities.  Presently the c...