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Silver One completes acquisition of Arizona silver project

Published by , Editorial Assistant
Global Mining Review,

Silver One Resources Inc. has announced that it has exercised its option to acquire a 100% interest in the high-grade Phoenix Silver Project, located within the “Arizona Silver Belt”.

Highlights of Phoenix Silver Project:

  • Phoenix Silver Project covers 6141 ha. along the northern extension of a prolific 30+ km long mineralised trend hosting past and current producing silver and copper mines.
  • Permitted for drilling on high-grade silver targets.
  • Very high-grade native silver vein fragments, including a 189 kg specimen estimated to contain over 70% silver and an 8.5 kg specimen assaying 459 000 g/t silver.

Greg Crowe, President and CEO of Silver One, commented: “Acquiring a 100% interest in Phoenix Silver represents a rare opportunity in potentially identifying extremely rich silver vein mineralisation. Large angular and unabraded vein fragments were detected by metal detectors and uncovered in overburden within a metre of surface. These have been interpreted as being near their original source, as silver is very soft and large fragments break apart easily upon transport over even small distances. One vein fragment weighed 189 kg and was estimated by specific gravity methods to contain 70% silver. Assays of smaller fragments returned up to 459 000 g/t silver.

A drill permit has been secured to test structures believed to be the host to these very high-grade vein fragments.

The southern portion of the project also hosts regional trending veins and breccia zones, with several selected samples returning over 1% 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 mineralisation, as well as porphyry related copper mineralisation.”

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US mining news Silver mining news