Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) has reported high-grade assay results from the first two drill holes of its 25,000-metre reverse-circulation drilling campaign at the Candelaria Project in Nevada. Hole SOC26-196A intersected 9.14 metres averaging 472 g/t silver, 0.60 g/t gold, 0.87% lead, and 1.10% zinc, extending known mineralization approximately 400 metres down-dip beyond the nearest hole used in the 2025 resource estimate. The results reinforce mineralisation continuity and grade, and investors may be watching closely as assays for two additional holes remain pending.

Key Points

  • Silver One Resources Inc. (TSXV: SVE | OTCQX: SLVRF | FSE: BRK1)
  • SOC26-196A extends Candelaria sulphide mineralisation approximately 400 metres down-dip from the nearest 2025 resource estimate drill hole
  • Best intercept: 9.14 m averaging 472 g/t Ag, 0.60 g/t Au, 0.87% Pb, 1.10% Zn (540 g/t AgEq); SOC26-197 returned 3.05 m at 454 g/t Ag, 0.68 g/t Au (539 g/t AgEq)
  • Assays pending for holes SOC26-198 and SOC26-199; National Drilling mobilising by month-end to resume the program

Down-Dip Extension Highlights Scale of Candelaria Sulphide System

The standout result from hole SOC26-196A lies within a broader 25.91-metre zone averaging 215 g/t silver, 0.33 g/t gold, 0.43% lead, and 0.55% zinc (250 g/t AgEq). Mineralisation in that hole begins at 542.55 metres depth, with true widths estimated at approximately 94% of drilled intercepts. The release states that the mineralisation remains open along strike and at depth, a disclosure that underscores what the company describes as the continuity and scale of the Candelaria system. The 400-metre down-dip extension places the new intercept well beyond the boundary of the existing resource model.

SOC26-197 Delivers Complementary High-Grade Intercepts

Hole SOC26-197 returned two separate intercepts. The higher-grade interval of 3.05 metres averaged 454 g/t silver, 0.68 g/t gold, 1.45% lead, and 1.77% zinc (539 g/t AgEq) from 391.67 metres. A second interval of 4.58 metres averaging 112 g/t silver, 0.16 g/t gold, 0.24% lead, and 0.42% zinc (131 g/t AgEq) was recorded from 403.86 metres. The company notes that sulphide mineralisation encountered in 2026 is similar in character to material intersected in prior campaigns, supporting comparison with earlier metallurgical work.

2023 Metallurgical Results Support Conventional Processing Path

Preliminary metallurgical testing completed in 2023 on sulphide samples demonstrated average flotation recoveries of 62% silver, 72% gold, 50% lead, and 37% zinc. Subsequent cyanidation of flotation tails improved silver recovery to an average of 77.5% and gold recovery to an average of 82%, the release states. Silver One has disclosed a decision to advance a pre-feasibility study using conventional cyanide extraction for both open-pit and heap-leach material, with completion targeted by year end, followed by a permitting update and production decision process.

Program Momentum With Two Holes Still Awaiting Assays

A total of 2,077 metres has been drilled across four holes to date within the 25,000-metre campaign. Assays for SOC26-198 and SOC26-199 are pending and will be released upon receipt. National Drilling is preparing to mobilise by month-end, with drilling scheduled to resume immediately thereafter and continuing through fall and winter. All samples were assayed by American Assay Laboratories in Sparks, Nevada, an ISO/IEC 17025:2017-accredited facility. The technical content of the release was reviewed and approved by Robert M. Cann, P.Geo, an independent qualified person under NI 43-101.