Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) has commenced a microgravity test survey at the 417 area of its Phoenix Silver Project in Arizona, targeting potential dense, near-surface native silver accumulations. The 417 zone has yielded a 190-kilogram native silver fragment estimated at up to 70% silver content, and 2024 drilling intersected grades of 3,800 g/t silver. The survey aims to locate lense-shaped or cylindrical silver bodies that conventional drilling may have missed, representing a key step in the company's exploration strategy for investors to monitor.

Key Points

  • Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1)
  • Microgravity survey commenced at the high-grade 417 area of the Phoenix Silver Project in Arizona
  • Up to 2,800 gravity stations on a 5-metre grid; field acquisition approximately 30 days, followed by 30 days of processing and modelling
  • Investors will watch for survey results and potential expansion toward the Mexican Mine and Nuggets North zones

Phoenix Silver's 417 Zone: Native Silver Fragments and 2024 Drill Results

The 417 area is a priority target for Silver One owing to the discovery of large native silver fragments near surface, including one specimen weighing 190 kilograms and estimated to contain up to 70% silver based on specific gravity. Drilling completed in 2024 intersected 3,800 g/t silver and 0.97% copper over 0.35 metres, while anomalous silver values of 10–90 g/t were recorded in 13 of 30 core holes. Elevated base metals including copper, lead, and zinc were encountered in all but one hole, indicating continuity across the mineralised system, though very high-grade silver concentrations were not encountered in that drilling program.

Microgravity Survey Design and Timeline at the 417 Target

The newly initiated survey comprises up to 2,800 gravity stations collected on a 5-metre grid and is designed to detect dense metallic bodies at shallow to moderate depths. Field acquisition is expected to take approximately 30 days, followed by an additional 30 days for data processing, 3D modelling, and interpretation. The company stated results will be released once full analysis is finalised. The technique is intended to identify subsurface anomalies consistent with dense metallic accumulations that drill hole spacing and distribution suggest could be lense-shaped or cylindrical in form within the easterly trending 417 structures.

Potential Survey Expansion to Mexican Mine and Nuggets North

If the 417 program successfully identifies gravity anomalies, Silver One plans to expand the survey approximately 600 metres westward to the Mexican Mine area. The company also identified the Nuggets North area as a high-priority target, where a 1.5-kilometre-long train of more than 40 native silver fragments weighing up to 9 kilograms has been documented. A 2024 ZTEM geophysical survey previously identified additional silver targets across the broader Phoenix Silver property, providing a framework for prioritising future exploration activity.

Silver One Also Grants Stock Options and Deferred Share Units

Separately, Silver One announced the grant of 4,775,000 stock options to directors, officers, and consultants, each exercisable at $0.50 per share for five years from the date of grant. The company also granted 2,850,000 deferred share units to directors and officers, with each DSU vesting within one year and entitling holders to one common share per vested unit upon ceasing to serve. The immediate share price impact was not clear from available public information.