Mar 7, 2021
Our 2020 trip to Silver One’s (sponsor) Hawthorne, Nevada Candelaria Project demonstrated that the company was on to something big. Candelaria is one of richest silver mines in Nevada history and is now ready to enter its next phase. Recent drill results intersected 1,032 g/t Ag over 3.05 Meters with a 12.2-meter zone averaging 407 g/t along with 0.55 g/t of AU. Nearly two-thirds of its 15,000-meter program have been drilled. Twenty-five out of 30 holes were successfully finished. The assays of 13 holes have expanded the down-dip mineralization an additional 250 meters to the north at Mount Diablo and an additional 100 meters to the north-northeast of the Northern Belle pit. This is great news because it has proven Crowe’s belief that mineralization is far more extensive than previously believed and that there’s lots more yet to be discovered.
The news keeps getting better, last year Silver One updated its 43-101 technical report on its abandoned heap leach pads. Pad 1 has 30 million ounces of silver and pad 2 has 15 million. This combined with other parts of Candelaria means that production options have been greatly expanded
For a combination of cash and stock, Silver One is transferring its Mexican properties to Silverton Metals, thus increasing its cash hoard to help further fund its ambitious drill programs.
Cherokee and Phoenix, it’s two other projects are moving quickly ahead as well. Drill targets have been identified at Cherokee and geologic mapping has been completed on over 90% of the claim block.
Crowe is especially excited about Phoenix where a 417-pound fragment containing up to 70% silver recently found. Another smaller vein fragment returned almost 50% silver or 14,688 ounces per ton. They’re studying and surveying the area looking for more rich targets. On a nearby adjoining property, a porphyry copper deposit is being developed. Phoenix’s silver-bearing polymetallic veins may also be associated with a porphyry copper system at depth. So, stay tuned for more good news. We’re very happy shareholders.