#Mining News: #SilverCrest
(TSXV: $SIL.V; OTCQX: $SVCMF) Files Mineral Resource Technical Report on the
Las Chispas Property
Vancouver, British Columbia - April 25, 2018
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to
announce that a technical report titled "Technical Report and Mineral
Resource Estimate for the Las Chispas Property, Sonora, Mexico" (the
"Las Chispas Report"), dated April 23, 2018, with an effective date
of February 12, 2018, was filed today on SEDAR at www.sedar.com and is also available on SilverCrest's
website. The Las Chispas Report was independently completed for the Company by
Tetra Tech Canada Inc. ("Tetra Tech"), in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101").
There are no material differences between the
assumptions and estimates contained in the Company's press release dated
February 26, 2018 (the "February 26 News Release") on the Las Chispas
Property and those contained in the filed Las Chispas Report.
The Company advises that, as identified by Tetra
Tech, the Las Chispas Report discloses a slight increase of tonnages in the
estimate on historic dumps by 26,500 tonnes, which does not have a material
effect on the overall Mineral Resource Estimate. The revised Mineral Resource
Estimate is as follows:
(1) Conforms
to NI 43-101, Companion Policy 43-101CP, and the Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") Definition Standards for Mineral
Resources and Mineral Reserves, as amended. Inferred Resources have been
estimated from geological evidence and limited sampling and must be treated
with a lower level of confidence than Measured and Indicated Resources.
(2) AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
(3) Previously reported in February 26 News Release as 3,415,000 tonnes grading 3.66 Au and 297 Ag gpt, or 572 AgEq and contained 402,000 ounces gold and 32,650,000 ounces silver, or 62,800,000 ounces AgEq;
(4) Previously reported in February 26 News Release as 148,000 tonnes grading 1.60 Au and 136 Ag, or 256 AgEq and contained 7,000 ounces gold and 648,000 ounces silver, or 1,219,000 ounces AgEq.
(5) All numbers are rounded. Overall numbers may not be exact due to rounding.
(6) In situ vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 1.5 m minimum true width, and surface stockpile resource is reported using a 100 gpt AgEq cut-off.
(2) AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
(3) Previously reported in February 26 News Release as 3,415,000 tonnes grading 3.66 Au and 297 Ag gpt, or 572 AgEq and contained 402,000 ounces gold and 32,650,000 ounces silver, or 62,800,000 ounces AgEq;
(4) Previously reported in February 26 News Release as 148,000 tonnes grading 1.60 Au and 136 Ag, or 256 AgEq and contained 7,000 ounces gold and 648,000 ounces silver, or 1,219,000 ounces AgEq.
(5) All numbers are rounded. Overall numbers may not be exact due to rounding.
(6) In situ vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 1.5 m minimum true width, and surface stockpile resource is reported using a 100 gpt AgEq cut-off.
Qualified Person
The Mineral Resources for the Las Chispas Property
disclosed in this news release have been estimated by P. James F. Barr, P.
Geo., Senior Geologist and Team Lead - Geology for Tetra Tech and independent
of SilverCrest. Mr. Barr is a Qualified Person as defined in NI 43-101. The
Mineral Resources have been classified in accordance with CIM Definition
Standards for Mineral Resources and Mineral Reserves, as amended. Mr. Barr has
read and approved the contents of this press release as it pertains to the
disclosed mineral resource estimate.
ABOUT SilverCrest Metals INC.
SilverCrest is a Canadian precious metals
exploration company headquartered in Vancouver, BC, that is focused on new
discoveries, value-added acquisitions and targeting production in Mexico's
historic precious metal districts. The Company's current focus is on the
high-grade, historic Las Chispas mining district in Sonora, Mexico. SilverCrest
is the first company to successfully drill-test the historic Las Chispas
Project resulting in numerous discoveries. The Company is led by a proven
management team in all aspects of the precious metal mining sector, including
taking projects through discovery, finance, on time and on budget construction,
and production.
N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.
Chief Executive Officer
SilverCrest Metals Inc.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
For Further Information:
SilverCrest Metals Inc.
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking
statements" within the meaning of Canadian securities legislation. These
include, without limitation, statements with respect to: the strategic plans,
timing and expectations for the Company's exploration, rehabilitation and
drilling programs of the Las Chispas Property, including preparation of an
initial resource estimate, preliminary economic assessment and updated resource
estimate; information with respect to high grade areas and size of veins
projected from underground sampling results and drilling results; and the
accessibility of future mining at the Las Chispas Property. Such forward‑looking
statements or information are based on a number of assumptions, which may prove
to be incorrect. Assumptions have been made regarding, among other things: the
conditions in general economic and financial markets; availability of skilled
labour; timing and amount of expenditures related to rehabilitation and
drilling programs; and effects of regulation by governmental agencies. The
actual results could differ materially from those anticipated in these
forward-looking statements as a result of risk factors including: the timing
and content of work programs; results of exploration activities; the
interpretation of drilling results and other geological data; receipt,
maintenance and security of permits and mineral property titles; environmental
and other regulatory risks; project cost overruns or unanticipated costs and
expenses; and general market and industry conditions. Forward-looking
statements are based on the expectations and opinions of the Company's
management on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only
as of the date the statements were made. The Company undertakes no obligation
to update or revise any forward-looking statements included in this news
release if these beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law.
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