Expansion of Land Holdings
Silver One Resources, a prominent mining company, announced the acquisition of additional claims adjacent to their Phoenix Silver Project near Globe, Arizona. This expansion is aimed at covering regional magnetic anomalies in the southern part of the property, potentially indicative of porphyry copper systems.
Strategic Location in a Prolific Copper Belt
The newly staked area is part of a 30+ km long, northeast-trending porphyry copper belt known for hosting several large porphyry copper deposits. This includes notable sites like Resolution (Rio Tinto-BHP), Carlota (KGHM), Pinto Valley (Capstone Copper), and Globe/Miami (Freeport McMoran).
Greg Crowe, President and CEO of Silver One, highlighted the significance of the new claims, emphasizing the company’s commitment to growth and exploration of both silver anomalies and potential copper targets in the region. The company is looking forward to exploring the property thoroughly and unlocking value for its investors.
Highlights of the Expansion
- The Phoenix Silver property now encompasses 6,141 hectares (15,175 acres), covering the original high-grade silver vein targets and newly outlined potential porphyry copper targets.
- Plans for 2024 include drilling the high-grade silver targets, which are already permitted, and conducting sampling and geophysical surveys to better outline potential porphyry copper targets in the southern part of the property.
Geological Significance and Exploration Plans
Silver One’s new claims strategically cover 260 unpatented lode claims spanning 2,090 hectares (5,165 acres), in an area with a history of prolific silver and copper mining. The property’s extension now totals 6,141 hectares, offering exploration potential for both high-grade silver and porphyry copper targets.