Silver One Resources drilling 25,000-metres at Candelaria Project, Nevada
Silver One Resources Inc. [TSXV: SVE; OTCQX: SLVRF; FSE: BRK1] reported the commencement of a significantly expanded reverse-circulation (RC) and potential diamond (DDH) drilling campaign at its 100%-owned Candelaria Silver Project, Nevada.
The program, comprising up to 25,000 metres, marks the next phase of systematic resource growth and district-scale exploration following the company’s earlier drilling and geophysical successes.
Drilling is scheduled to begin at the end of May with the first RC rig, with a second rig mobilizing in mid-July to accelerate completion of the program.
The 2026 RC program is designed around three core objectives: potential resource expansion, exploration of new targets including silver oxide and mixed silver oxide-sulphide mineralization and potential porphyry copper-silver-gold targets at depth and preliminary condemnation drilling to support infrastructure planning
Gregory Crowe, President and CEO, commented: “This major drill program is designed to demonstrate the extensive property-wide potential of the Candelaria project as we advance toward our upcoming Pre-Feasibility Study (PFS). Building on our already substantial resource base –108 million ounces AgEq in the Measured and Indicated categories (103.2 Moz Ag and 203.6 koz Au) and 29 million ounces AgEq in the Inferred category (28.0 Moz Ag and 70.5 koz Au), this drilling program aims to better define the broader scale of the mineralized system.
“While not all results will form part of the PFS, the work will attempt to potentially expand the known resource, evaluate new targets across the district, and ensure we are planning future infrastructure with an informed technical basis. With two rigs active this summer and fall, we expect steady progress as we continue to unlock the full potential of this historic silver project.”
Building on the strong results and geological understanding developed through prior campaigns, the upcoming drilling is intended to extend the near-surface silver-oxide mineralization along strike from the historic Mount Diablo and Northern Belle open pits, where earlier programs confirmed continuity of mineralized horizons. (See company’s news releases of May 26, and May 26, 2020) and test down-dip extensions of the higher-grade, mixed (oxide-sulphide) silver system, targeting areas where past drilling and structural interpretations suggest the mineralized stratigraphy continues to depth.
Multiple datasets support these expansion targets, including geophysics: Induced polarization (IP), Magnetic Vector Inversion (MVI), and preliminary results of airborne electromagnetic (ZTEM) features that coincide with known mineralized trends.
Geology: Favourable host strata mapped along strike and down dip from existing resources.
Rock Geochemistry: Silver, gold, and base-metal anomalies (copper, lead, zinc) consistent with mineralized zones.
Structure: NE-SW and E-W-oriented faults and fracture corridors interpreted as key controls on mineralization.
These elements collectively reinforce the potential to expand both the lateral and vertical footprint of the Candelaria resource.
A portion of the program will test two of multiple targets generated from integrated geological, geophysical (IP and MVI), and geochemical interpretations. These targets lie outside the current resource footprint and are supported by coincident geophysical responses and surface geochemical anomalies that indicate the potential for additional mineralized centers beyond the historically mined corridor. Several preliminary ZTEM anomalies also overlap these areas; however, ZTEM-related targets remain provisional and will be refined once the 3D inversion results are available.
This work follows earlier drilling campaigns that successfully identified deeper porphyry-style alteration and broad zones of silver-gold mineralization, demonstrating the broader district potential at Candelaria.
Select holes will be drilled in areas under consideration for future infrastructure placement. The objective is to ensure that facilities are not constructed over ground that may ultimately prove suitable for open-pit extraction. This step forms part of the company’s ongoing technical de-risking as Candelaria advances toward future engineering studies.
Silver One’s recent work at Candelaria—including core drilling, auger drilling, geotechnical studies, and extensive geophysical surveys—has consistently reinforced the scale and continuity of the mineralized system. Past drilling has delivered multiple high-grade silver and silver-gold intercepts, while geophysical reinterpretations have outlined deeper targets with porphyry-style signatures.
The upcoming RC program represents the most comprehensive drilling effort undertaken at Candelaria to date and is designed to potentially expand the existing resource base, test new district-scale opportunities including silver oxide and mixed silver oxide-sulphide mineralization and potential porphyry copper-silver-gold targets at depth and support future engineering and economic evaluations. Results will be released as they become available.
Silver One holds a 100% interest in its flagship project, the past-producing Candelaria Mine 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 owns 636 lode claims and five patented claims on its Cherokee Project in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems, traced to date for over 11 km along strike.
Silver One also owns a 100% interest in the Silver Phoenix Project, a high-grade native silver prospect that lies within the Arizona Silver Belt, immediately adjacent to the prolific copper producing area of Globe, Arizona.