Silver One Resources Announces Restart of Drilling Program at Candelaria
Silver One resumes drilling at Candelaria as an expected operational follow-up rather than a significant catalyst for the project.
Silver One Resources Inc. (SVE) announced the resumption of its drilling program at the 100%-owned Candelaria Silver Project in Nevada. The initial campaign in May 2026 was halted shortly after starting; one initiated hole was abandoned due to operational issues, with zero holes completed.
Major Drilling has been contracted to replace the previous contractor. Mobilization is underway, site setup is expected within one day, and drilling is scheduled to begin immediately thereafter. The renewed program maintains the original objectives: resource expansion drilling adjacent to existing Measured, Indicated, and Inferred resources; exploration of new targets (silver-oxide, mixed oxide-sulphide, deeper porphyry-style Cu-Ag-Au); and condemnation drilling for infrastructure planning.
Management anticipates steady progress through the summer and fall drilling season, leveraging Major Drilling's scale and reliability.
Silver One Resources Inc. (SVE) issued a standard operational update following its May 27, 2026 release, which outlined a 20,000–25,000-metre drilling campaign. The company replaced a contractor and resumed drilling after a brief, non-material delay. This change in project management does not alter the resource base, affect the Preliminary Feasibility Study (PFS) timeline, or introduce new geological data.
The announcement aligns with previous expectations and management guidance. There is no new assay data, resource update, or economic study milestone attached to this release. While operational hiccups are common in junior exploration, the switch to a larger, globally recognized contractor mitigates execution risk without constituting a market-moving event.
Silver One Resources Inc. (SVE) is a Canadian junior explorer focused on U.S. silver assets. Its flagship project is the Candelaria Silver Project in Nevada, a 100%-owned, past-producing mine that historically served as Nevada's highest-grade silver producer, averaging more than 1,200 g/t Ag and producing approximately 68 moz Ag from the 1980s through 1998.
The company’s current resource base, reported under NI 43-101 standards effective April 30, 2025, includes 108.18 moz AgEq in Measured and Indicated categories and 29.46 moz AgEq in Inferred categories. Silver One is advancing directly to a Pre-Feasibility Study (PFS) targeted for completion in Q4 2026, bypassing a Preliminary Economic Assessment (PEA).
Additional assets include the Phoenix Silver Project in Arizona, which focuses on high-grade vein and porphyry Cu-Ag targets, and the Cherokee Project in Nevada, which is in early exploration. The company cites strategic advantages including existing permits, year-round road access, power and water infrastructure, and two historic heap-leach pads containing unrecovered silver inventory.