Northwire Canada EditionThursday, August 27, 2026
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GOLD 4648.10 −1.0% SILVER 68.03 −1.0% COPPER 6.60 −3.2% OIL 82.23 −0.2% PALLADIUM 1327.00 −1.7% SMN 0.145 +7.4% ADY 0.320 −3.8% SDR 0.175 +9.4% LI 0.450 +2.3% ATX 2.78 −1.8% ILI 0.015 +0.0% KNOX 0.135 +8.0% MINK 0.110 +0.0% CNRI 0.170 +0.0% QRO 0.045 +0.0% PPM 0.015 +0.0% COR 0.400 +0.0% CYG 0.165 +6.5% GR 0.070 +0.0% CRB 0.050 +0.0% GMX 2.13 +1.4% GOLD 4648.10 −1.0% SILVER 68.03 −1.0% COPPER 6.60 −3.2% OIL 82.23 −0.2% PALLADIUM 1327.00 −1.7% SMN 0.145 +7.4% ADY 0.320 −3.8% SDR 0.175 +9.4% LI 0.450 +2.3% ATX 2.78 −1.8% ILI 0.015 +0.0% KNOX 0.135 +8.0% MINK 0.110 +0.0% CNRI 0.170 +0.0% QRO 0.045 +0.0% PPM 0.015 +0.0% COR 0.400 +0.0% CYG 0.165 +6.5% GR 0.070 +0.0% CRB 0.050 +0.0% GMX 2.13 +1.4%
Resource Estimate

Silver One Resources Announces Upgrade of Leach Pad Resources to Measured & Indicated at Candelaria

By The Northwire Desk — AI Analysis Aug 27, 2026 · 00:16 SVE · 0.453 Silver One Resources Inc.
SVE · Price

Silver One Resources Inc. announced an upgrade of its Candelaria Project heap leach pad resources, converting previously Indicated resources on Leach Pad 1 (LP1) to Measured and Indicated, and Inferred to Indicated on Leach Pad 2 (LP2). The updated resource estimate is effective July 29, 2026, with the total Candelaria project resources now totaling 126.6 million ounces of silver equivalent in the Measured and Indicated categories. The upgraded resource will be incorporated into the ongoing Pre-Feasibility Study (PFS), which is expected to be completed before the end of 2026.

The resource upgrade incorporates 36 sonic drill holes (1992), 45 sonic drill holes (2017), and 56 Hollow Stem Auger (HSA) holes (2026) across LP1 and LP2. Current exploration drilling has seen 4 holes completed for 1,884 meters, with samples prepared for assay. Drilling was temporarily paused due to a rig incident but is expected to resume in the second week of September. Additionally, the processing and interpretation of ZTEM airborne electromagnetic data has been completed, and surface reconnaissance has been finished with assays received and being processed. Final interpretations and assays are expected within the next few weeks.

Specific resource updates for the leach pads include the following data:

  • LP1 Resource Upgrade:
    • 22,186 million tonnes grading 43.5 g/t silver and 0.075 g/t gold.
    • Contains 31.03 million ounces of silver and 53,498 ounces of gold.
    • Silver-equivalent (AgEq) resources: 31.85 million ounces Measured and Indicated.
  • LP2 Resource Conversion:
    • Conversion of Inferred resources to Indicated.
    • 11.457 million tonnes grading 44.7 g/t silver and 0.10 g/t gold.
    • Contains 16.47 million ounces of silver and 36,835 ounces of gold.
    • Silver-equivalent (AgEq) resources: 17.17 million ounces Indicated.

The total project resources effective July 29, 2026, are as follows:

  • Measured and Indicated: 126.6 million ounces AgEq (120,709,000 oz Ag, 242,000 oz Au).
  • Inferred: 13.4 million ounces AgEq (12,597,000 oz Ag, 33,800 oz Au).

The PFS remains on track for completion before year-end 2026. It will integrate revised processing and recovery assumptions, updated cost estimates, and mine planning based on the upgraded M&I resource. The technical report was prepared by James A. McCrea, P.Geo., and reviewed and approved by Robert M. Cann, P. Geo.

Metal prices used in the estimation were US$2,106/oz Au and US$27.50/oz Ag. The AgEq(T) formula used was Ag(T) + (Au * recovery * 67.73/0.8841). Recovery assumptions varied by location and method:

  • LP1 Recoveries: Field (25% Ag, 20% Au); KCA Lab Column (29% Ag, 21% Au).
  • LP2 Recoveries: Field (35% Ag, 25% Au); KCA Lab Column (40% Ag, 27% Au).

Gregory Crowe, President and CEO, commented: "Upgrading the Leach Pad resource to entirely Measured and Indicated categories marks a major step forward for Silver One. This strengthened resource will feed directly into our Pre-Feasibility Study, which remains on track for completion before year-end. The improved confidence in tonnage and grade, combined with the metallurgical data we are generating, positions Candelaria for meaningful advancement as we continue to unlock value for our shareholders."

Read the original news release →

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