Silver development company with 5 properties in Nevada and Mexico. Flagship property is the past producing Candelaria mine in Nevada (historic production 1200 g/t) with historic resource of 46m M&I and 84m Inferred silver equivalent ounces. Leach pads hold 48m ounces at .40g/t with potential near to mid-term production. High grade opportunities along 1-2km strike length west of historic pits. Cherokee project in Nevada is 100% owned, an epithermal high-grade silver-gold-copper vein system traced over 12km strike length.
Proven management team with extensive background in large-scale development projects. Backed by industry-leaders Eric Sprott, First Majestic, SSR Mining, and First Mining Gold.
Greg Crowe – President & CEO
Greg Crowe, President & CEO has over 30 years’ experience in the exploration and mining sector. This includes extensive exposure to precious and base metal projects throughout North and South America, Asia and Africa. Mr. Crowe has worked with major mining companies and has served as a Director and Executive of several junior and development stage resource companies.
From 2002 until late 2015, Mr. Crowe was President and CEO of Entrée Gold Inc. He was instrumental in transforming Entrée from an early stage exploration play to one with an advanced development-mining project in joint-venture with Rio Tinto and its partner company, Turquoise Hill Resources
What is your rationale for attending 121 Mining Investment?
We are attending the 121 conference to share new company developments, and to continue to increase our investor base.
What recent news would you like to highlight to investors attending?
Silver One is currently in the midst of a drill program to upgrade the historic resource to a 43-101 compliant resource. Exploration drilling is also occurring along strike at the Candelaria mine to further define the size, dimensions and grade of the underground resource. More development is occurring at both Candelaria and Cherokee with airborne, geophysics and metallurgic testing. Testing to define the most profitable method of production for the surface resource is continuing.
What are your key goals for the next 3, 6 and 12 months?
Announce results of drilling and testing.
Define most profitable mining method for heap leach resource
Initiate permitting and development of milling operations.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Developing the production plan at Candelaria for maximum profitability through analyzing and testing multiple production scenarios. Defining additional high grade resources at Candelaria. Developing Cherokee into a district scale property with significant resources.
In a sentence, what do you think makes your company such a compelling investment?
Silver One has the potential to be in production with the heap leach material in 2-3 years. Longer term high grade potential can continue the mine life beyond the 8 years of the heap leach production at Candelaria. The Cherokee project is early stage, but is very promising of becoming a new mining district with high grade silver, gold and copper in a 12km strike length.
Silver One Resources is a TSX-V-listed, silver-focused exploration and development company that holds a 100% interest in five properties in Nevada and Mexico.
Silver One entered into an agreement with Silver Standard Resources (NASDAQ: SSRI) (TSX: SSO) to acquire a 100% interest in the past producing Candeleria Mine. The Candelaria Mine lies within the Candelaria Mining District, historically the richest silver mining district in Nevada, with the Candelaria property producing over 69Moz of silver from 1864 until 1999 under various owners.
The Candelaria district was historically the richest silver mining district in Nevada, Total contained silver of 131.4Moz with gold credits is hosted in historical M&I Resources of 13.6Mt @ 3.23oz/t, with Inferred Resources of 55.7Mt @ 1.49oz/t. Silver One’s goal is to re-evaluate these resources and to explore for potential down-dip, high-grade extensions to the system. Drilling completed by Silver Standard partially delineated some of these deeper targets, but the testing of their full potential has not been completed.
The company’s strategy is to significantly increase resources, with a plan to enter production as quickly as possible. Initial activities will be on re-evaluating the historical leach pads, with permitting for the planned drilling currently underway.
Silver One started out with three key silver assets located in Mexico, acquired from First Mining Gold Corp, before the Candelaria Silver Mine project in Nevada became its flagship project. As a result of the acquisition, SSR Mining and First Mining Gold Corp are now two of the company’s largest strategic partners.
In Mexico, the Peňasco Quemada Project in northern Mexico contain 9.63Moz silver in M & I resources, with drilling highlighting thick zones of mineralisation associated with manganese oxides. At La Frazada, located 300km NW of Guadalajara in central Mexico, mineralisation is comprised of high-grade shallow sulphide resources, containing 4.70Moz of silver in the M& I category and 3.86Moz Inferred, as well as gold, lead, zinc and copper. The third Mexican project is Pluton, located in the historic Ojuela-Mapimi Mining District in Durango State of central Mexico and west of Excellon’s (TSX: EXN) very high-grade Platosa Mine.