The Phoenix Silver Project is located within the “Arizona Silver Belt”, which occurs on the margins of the prolific copper producing area near Globe, Arizona. Copper giants such as BHP, Rio Tinto, and Freeport McMorran all have producing mines in the area (see location map). The Arizona Silver Belt hosts several small historic silver producers, such as the McMorris, Buckeye and Stonewall Jackson Mines, all of which lie immediately east of Silver One’s Phoenix Silver Project. Native silver and other silver bearing minerals characterize these deposits.
The Phoenix Silver project is an early stage exploration prospect. Several native-silver vein fragments have been uncovered from beneath the overburden (see showing and samples map). The fragments are interpreted to be derived from nearby vein structures as determined by both the intergrowth of the quartz and carbonate with native silver and other silver minerals and by the non-abraded physical nature of the fragments (i.e. they have not been transported very far).
One sample that was recovered from the central area of the property (see showing and sample map) weighed 417 lbs and a specific gravity measurement in combination with the visual presence of abundant native silver attests to a high silver content (see 417 Ibs fragment photo). This exceptionally rare fragment was not assayed in order to preserve the specimen quality of the sample.
One 8.5 Kg (18.7 lbs) sample (see multiple fragment photo) was assayed by concentrate sampling techniques at Skyline Assayers and Laboratories in Tucson, Arizona. This assay returned very high grades of 459,000 g/t silver (14,688 oz/ton).
Several vein structures are partially exposed on the property. Some of these have been sampled, with assays from grab samples returning silver values between below detection limit (0.5 g/t) to 2,550 g/t and assays from chip samples returning silver values from below detection limit to 557 g/t. The chip samples were collected from outcrops over an area between one to two square meters at each site – see analytical details below. Most of the veins trend east-west, similar to mineralized structures in the nearby McMorris and Buckeye historic mines. The projection of some of these veins occur just upslope from the areas where the large silver bearing vein fragments were located (see showing and samples map).
Grab and chip samples varied from 1 kg to 5 kg and were assayed by Skyline Assayers & Laboratories (“SAL”) in Tucson, AZ, USA (IAS accredited Laboratory, ISO/IEC 17025:2017). Samples were analyzed for 49 elements by ICP-MS, Ag was analyzed by AA aqua regia digestion, with over limits by fire assay gravimetric. Cu, Pb, Zn over limits were analyzed either by ICP-OES or aqua regia-AAS. Silver nuggets and fragments were analyzed by either ore-grade volumetric fire assay gravimetric assay or calculated by specific gravity methods. SAL inserts blanks, standards and includes duplicate analyses to ensure proper sample preparation and equipment calibration.