Business
Silver One Provides Update to Candelaria Silver Project
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2017) - Silver One Resource Inc. (TSXV:...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Silver One Provides Update to Candelaria Silver ProjectRetains Investor Relations ConsultantVancouver, British Columbia--(Newsfile Corp. - June 6, 2017) - Silver One Resource Inc. (TSXV: SVE) (FSE: BRK1) (OTC Pink: SLVRF) (\"Silver One\") is pleased to provide an update on the Candelaria Silver Project, Nevada. The Candelaria Mine has produced over 68 million ounces of silver since the mid-1800's. Early mining from high grade oxide veins, up until the 1950's, produced some of highest grade silver ore in Nevada, averaging over 2,500 g/t (>70 oz/t) silver. Production between the 1960's and late 1990's was from open pit operations, the latest being by Kinross Gold. Silver Standard acquired the mine in 2001, undertook an extensive drilling program and outlined 43-101 resources (now Historical) equating to 44 million ounces silver Historic Measured and Indicated resources and 80 million ounces silver Historic Inferred resources. Of this, approximately 48 million ounces inferred lies within the old heap leach pads, reportedly averaging 44 g/t (1.29 oz/t) silver. This represents a considerable target and needs to be evaluated for its near-term production potential. Other operations in Nevada are producing oxide silver from leaching at grades less than half the average grade of the Candelaria heap leach pads.Silver One has contracted an environmental and permitting consultant and has started the permitting process for drilling and testing of the Heap Leach pads. Studies will be aimed at determining the average grade, grade distribution, metallurgical recoveries, etc. Additional studies (i.e. pre-feasibility to feasibility) would aim to determine the economic viability and best methods for potentially reprocessing and recovering silver from the leach pads. A proposed time line for these studies suggests a completion near Q4, 2018 and, with positive results, a production and commencement of construction decision could follow thereafter.Concurrent with the evaluation of the leach pads, Silver One will explore the along strike potential of the mineralized system beyond the areas of previous open-pit mining. There are numerous old workings that suggests the system extends well beyond the pits. It will also examine a deeper, down-dip, high-grade zone encountered in the Silver Standard drilling. One of the higher-grade intercepts reportedly...