Silver One starts drilling at Peñasco Quemado in Mexico
Silver One Resources (TSXV: SVE) reported this week that it started drilling at its Peñasco Quemado project located in northern Sonora, Mexico.
In a press release, Silver One explained that the 1,000-metre diamond drilling program is based on the strength of the soil geochemical anomalies near to a historically defined manto or replacement-style silver resource.
“The property hosts geological similarities to the silver-manganese oxide and zinc-lead-silver sulphide mineralization at the Hermosa and Taylor projects located just over 100 kilometres to the north in Arizona. These properties are currently being evaluated by South 32 acquired through the takeover of Arizona Mining in August 2018,” Greg Crowe, President and CEO of Silver One, said in the media statement.
Crowe explained that the drilling will test three targets in two separate areas of Peñasco Quemado. He said the targets were selected based on coincidental geochemical and geophysical anomalies previously identified in the company’s 2017-2018 exploration programs.
“Drill holes in the eastern part of the property will target an interpreted southwest, down-dip extension of the drill defined historic silver resource area, interpreted as a shallow, southwest-dipping replacement manto. This anomaly was outlined by geophysics,” the media brief reads. “Additional drilling will test the interpreted along-strike extensions to this historic resource area as identified by strong, 3+ kilometre long, southeast trending zinc, lead, barium and manganese in soil anomalies, which are in part associated with geophysical anomalies.”
The Vancouver-based miner also said that in the western part of the property, drilling will test strong zinc, lead and copper soil anomalies with coincidental geophysics in an area drilled by Silvermex Resources in 2008.
Peñasco Quemado occupies 3,746 hectares in seven concessions located 60 kilometres south of the town of Sasabe on the US-Mexican border.
According to Silver One, a 2006 drilling program outlined a historical measured and indicated resource of 2.57 million tonnes at a grade of 117 g/t Ag for a silver resource of 9.63 million ounces.