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Silver One Signs Lease/Purchase Agreement on Five Patented Claims at Its Cherokee Project, Lincoln County, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 19, 2018) - Silver One Resources Inc. (TSX...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Silver One Signs Lease/Purchase Agreement on Five Patented Claims at Its Cherokee Project, Lincoln County, NevadaVancouver, British Columbia--(Newsfile Corp. - July 19, 2018) - Silver One Resources Inc. (TSXV: SVE) (OTC Pink: SLVRF) (FSE: BRK1) (\"Silver One\" or the \"Company\") is pleased to announce that it has entered into a Lease/Purchase Agreement with Castelton Park LLC (\"Castelton\") of Sparks, Nevada, to acquire five patented claims constituting 83.5 acres (34 hectares) at its Cherokee project. Four of the patented claims for a total of 80 acres (32 hectares) cover the past-producing Cherokee vein system. These patents lie within the Company's recently announced Cherokee claim holdings in Lincoln County located in eastern Nevada (see news release from July 9, 2018).Analytical results from select surface, dump, grab and chip samples, that are not necessarily representative of the mineralization hosted on the property, have returned values on the Patented Claims as high as 953.9 gm/t silver, 0.031 gm/t gold and 4.83% copper (see Figure 1 below). Select samples collected from a possible extension or splay to the Cherokee vein system, just the north of the Patented Claims, returned values as high as 765.4 g/t silver, 1.13 g/t gold and 0.02% Cu. (see Figure 1). The Cherokee property is a large underexplored project underlain by highly prospective geology with potential supported by historic mining efforts and recent surface sampling. The property covers 636 lode claims comprised of approximately 13,000 acres (5,260 hectares), hosting a large structurally-controlled, epithermal silver-copper-gold system. Multiple veins, including Cherokee, Mojoto and Johnny (see Figure 2 below) occur within this structural corridor that has been traced for over 11 kilometers along strike (see Figure 2 below). Greg Crowe, President and CEO of Silver One Resources, commented, \"The purchase of these patents gives Silver One the leverage to test the past-producing Cherokee vein system, where sampling has returned very high-grade silver and copper values from surface sampling. The veins at Cherokee display high level epithermal textures, suggesting these surface exposures may represent only the uppermost levels of a potentially more expansive epithermal mineralized system at depth. This vein system and the entire property remain vastly...