Silver One Resources Acquires 100% Interest in Phoenix Silver Project, Arizona
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Silver One Resources has exercised its option to acquire a 100 percent interest in the high-grade Phoenix Silver Project, located within the Arizona silver belt.
“Acquiring a 100 percent interest in Phoenix Silver represents a rare opportunity in potentially identifying extremely rich silver vein mineralization. Large angular and unabraded vein fragments were detected by metal detectors and uncovered in overburden within a meter of surface. A drill permit has been secured to test structures believed to be the host to these very high-grade vein fragments,” said Greg Crowe, president and CEO of Silver One.
“The southern portion of the project also hosts regional trending veins and breccia zones, with several selected samples returning more than 1 percent copper. The property lies to the northeast of Freeport McMoran’s copper producing Miami Complex and BHP’s Ocelot porphyry copper exploration project. Phoenix Silver lies at the northeast margin of a 30+ km long porphyry copper and silver belt and has excellent potential to host very high-grade silver mineralization as well as porphyry related copper mineralization,” added Crowe.
Silver One Resources is focused on the exploration and development of quality silver projects.The company owns a 100 percent interest in its flagship project, the past-producing Candelaria Mine located in Nevada. Potential reprocessing of silver from the historic leach pads at Candelaria provides an opportunity for possible near-term production. Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the substantive silver mineralization along-strike from the two past-producing open pits. The company has staked 636 lode claims and entered into a lease/purchase agreement to acquire five patented claims on its Cherokee project located in Lincoln County, Nevada. Silver One owns 100 percent interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver prospect that lies within the Arizona silver belt.
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