Jul 27, 2021
Silver One Resources (sponsor) CEO Greg Crowe joined us for an update. Concerning the recent decline in metals prices, he’s unfazed. Greg has been around the sector for decades and this is what he’s come to expect. It’s just the way the markets work. And, Greg and his team have been working overtime at their Candalaria Project. When we visited the Nevada mine in 2019, we were extremely impressed with the scale and scope of the project. It had been a high-grade producing silver mine for decades, until declining metals prices made it uneconomical to operate. Those days are soon to be over. Greg had several goals in his efforts to reactivate the project. 1) Extend down dip for high-grade. 2) Extend both east and west along strike of the large Diablo Pit. 3) Find a porphyry system at depth. The first two goals were accomplished earlier this year. Greg informed us that the third goal has now been achieved. The last holes yielded 1070 g/t of silver and 1.48 g/t of gold over 4.57 meters. And deep drilling to the north is showing all the signs of a potential porphyry system, apparently open to depth. The news couldn’t be better. As Greg stated, “…all goals laid out at the outset have been met.” The upcoming economic study will focus on taking material from the abandoned heap-leach pads and mixing it with fresh mineralization, which should increase the overall grade of silver recoveries. This will hasten the Candalaria’s eventual restart. Silver One’s recent news has set in motion the mine’s reactivation with resulting profits to patient shareholders (like us).
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