Silver One Resources (TSXV: SVE) has released a mineral resource estimate for its Candelaria project in Nevada. The estimate is covers both in-ground mineralization, as well as low grade stockpiles that exist on site adjacent to historic open pits.

In terms of in-ground mineralization, mineralization is constrained within open pit models at both the Mount Diablo and Northern Belle pits, as well as within an underground resource. Highlights from the estimate include:

• Open Pit:
  • Measured & Indicated: 66,754,000 ounces of silver at 94 g/t and 141,400 ounces of gold at 0.20 g/t gold, or 70.8 million ounces of silver equivalent at 100 g/t
  • Inferred: 6,462,000 ounces of silver at 68 g/t and 17,000 ounces of gold at 0.18 g/t, or 7.0 million ounces of silver equivalent at 74 g/t
• Underground:
  • Measured & Indicated: 6,445,000 ounces of silver at 168 g/t and 10,200 ounces of gold at 0.27 g/t, or 6.5 million ounces of silver equivalent at 169 g/t
  • Inferred: 3,136,000 ounces of silver at 150 g/t and 5,100 ounces of gold at 0.24 g/t, or 3.1 million ounces of silver equivalent at 150 g/t
• Stockpiles:
  • Inferred: 2,999,000 ounces of silver at 25 g/t and 11,700 ounces of gold at 0.10 g/t, or 3.3 million ounces of silver equivalent at 27 g/t
• Heaps:
  • Indicated: 30.20 million ounces of silver at 42 g/t and 52,000 ounces of gold at 0.07 g/t, or 30.8 million ounces of silver equivalent at 43 g/t
  • Inferred: 15.4 million ounces of silver at 42 g/t and 36,700 ounces of gold at 0.10 g/t, or 16.1 million ounces of silver equivalent at 44 g/t

Across all categories, total resources amount to 108.8 million ounces of silver equivalent within the measured and indicated category, alongside 29.8 million ounces of silver equivalent within the inferred category. The estimate is based on 938 drill holes, which in aggregate have drill tested 143,389 metres at the project.

Exploration is slated to resume at Candelaria later this year, with a drill program planned that will target both near-surface mineralization as well as high grade underground targets. Metallurgical work is also ongoing to test a new non-cyanide technology for optimizing gold recoveries, while a PEA for the project is said to be in progress.

Silver One Resources last traded at $0.23 on the TSX Venture.

Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.