Continued Expanding Of Down-Dip And Higher Grade Silver Mineralization At Candelaria
VANCOUVER - Silver One Resources Inc. reported results of fourteen additional drill holes from its 52-hole reverse circulation (RC) and diamond drilling program recently completed at Candelaria. The first 11 holes of this program were released earlier this year. Drilling intercepts continue expanding down-dip, higher-grade silver mineralization north of Mount Diablo pit and between the past producing Northern Belle and Mount Diablo pits. Additionally, drilling has extended near surface silver-oxide mineralization for 100 meters to the east and 500 meters to the west of the Mount Diablo open-pit, with the mineralized system remaining open along-strike in both directions.
Highlights include: A high-grade intercept of 1,776 g/t silver and 2.55 g/t gold over 1.52 meters, within a 7.62-meter interval that averaged 563 g/t silver and 0.73 g/t gold in hole SO-C-21-73. This is in the same area where previous drilling intercepted values to 1,129 g/t silver and 1.33 g/t gold over 8 m within a 28 m interval of 350 g/t silver and 0.45 g/t gold, and 1,032 g/t silver and 1.51 g/t gold over 3 m within 12 m of 407 g/t silver and 0.55 g/t gold; Additional intercepts include: 546 g/t silver and 1.16 g/t gold over 3.05 meters, within a 13.72-meter interval averaging 233 g/t silver and 0.47 g/t gold in hole SO-C-21-74 and; 477 g/t silver and 1.47 g/t gold over 3.05 meters, within a 7.62-meter interval averaging 273 g/t silver and 0.74 g/t gold in hole SO-C-21-79; Drill holes SO-C-20-69, SO-C-21-72A and SO-C-21-79 have extended the down-dip, higher-grade mineralization an additional 250 meters to the north of Mount Diablo pit, with select silver equivalent grades that greatly exceed the historical average grade of 88 g/t of silver mined in the open pits; and Drill holes intercepts have also expanded the along-strike, potential open-pit mineralization 100 meters and 500 meters to the east and west of the Mount Diablo pit, respectively. Mineralization remains open along strike.
The 15,000 meter drill program was successful in outlining a zone of higher-grade, down-dip mineralization north of the Mt. Diablo pit and in highlighting the along-strike continuation of the more easily accessible near surface mineralization, marginal to the two past-producing open-pits. Numerous historical workings occur on the property along the main east-west trending mineralized structure and have been traced for over 4 km to the east and west of the two open-pits. This enhances the upside exploration potential for the discovery of additional mineralized systems at Candelaria.
President and CEO, Greg Crowe, said, “Upon completion of the company’s current round of RC drilling, we continue seeing the expansion of coherent clusters of down-dip, higher-grade silver mineralization. Grades encountered in drilling here suggest that, under the right economic conditions, this mineralization has the potential to be accessed by underground methods. Also, the presence of near-surface silver-oxide mineralization along-strike and adjacent to the Mount Diablo pit has potential for near-surface access. Metallurgical studies of this material will be undertaken to help determine if mixing fresh mineralization with historic leach pad mineralization could increase the overall grade and possible silver recoveries. A second phase of drilling is warranted which will focus on in-fill and step outs to explore the continuity of silver mineralization farther to the east and west from the pits. Currently, our geologists are preparing RC samples for metallurgical studies as well as conducting geological and resource modeling in anticipation for additional drilling and the completion of an economic assessment study by year end.”