#Mining Stock News: #SilverCrest
(TSXV: $SIL.V; NYSE: $SILV) Receives Operating Permit for Las Chispas
Vancouver, British Columbia - July 18, 2019
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; NYSE
American: SILV) ("SilverCrest" or the
"Company") is pleased to announce that it has received notification
from the Secretaria de Medio Ambiente y Recuros Naturales
("SEMARNAT") granting approval of the Environmental Impact Statement
("MIA" or the "Operating Permit) for the development of its Las
Chispas Project ("Las Chispas" or the "Project") in the
State of Sonora, Mexico. The receipt of the MIA provides the Company with
conditional approval to construct a 3,000 (maximum capacity) tonne per day
underground ("U/G") mine and a conventional processing facility with
subsequent dry stack tailings and U/G backfill for Las Chispas.
Read this in full at
The MIA is based on several conditions and standard
requirements as discussed below.
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"The approval of the MIA is a key milestone for Las Chispas. The MIA
should enable SilverCrest to have all major operating permits in hand ahead of
our scheduled construction timeline. With the anticipated completion of a
successful Feasibility Study in H1, 2020, the Company is well positioned to
project finance and begin construction activities in H2, 2020. We are extremely
pleased with the progress that our team has made in the 3.5 years that we've
been exploring at Las Chispas. We continue to work hard to simultaneously
de-risk and add value to the Project in a cost-efficient manner.
Congratulations to the team and the communities that support us in securing
this key permit for development of Las Chispas."
MIA Details and Requirements:
·
The MIA remains in good standing for 14 years until
July 17, 2033, subject to the appropriate environmental management activities.
An application to renew the MIA is required at least 30 days before expiry.
·
The 96 hectares approved for use (subject to
successful inspection by, and invoice paid to SEMARNAT) in the MIA covers the
required areas of operation (for example mining, processing, tailings).
·
The MIA permits up to 2 dry stack tailings areas
within the permitted area as well as using tailing for mine backfill.
·
The Operating Permit is for underground mining only
with complementary facilities.
·
The Operating Permit is conditional on several
standard requirements by SEMARNAT that are designed to protect and monitor the
environment, and must be completed by the Company before construction begins.
·
SEMARNAT have advised that they plan to visit Las
Chispas in H2, 2019 to conduct an inspection, following which SilverCrest
expects to be issued an invoice by SEMARNAT. Upon payment of the invoice, the
Company expects to receive the required standard Change of Use of Soil
("CUS") approvals for operations.
Work related to conditional requirements of the
Operating Permit have been budgeted for and are included in the Company's work
schedule for H2, 2019 and early 2020.
SilverCrest has 14 active drill rigs on site, which
continue to test, expand and upgrade the high-grade resource delineated to date
at Las Chispas. The Company is also conducting further U/G grade reconciliation
on the Babicanora Vein with additional drilling and underground work to better
understand the positive grade difference between recent U/G vein sample results
and resource model. Further results will be reported in due course.
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 metals mining sector, including
taking projects through discovery, finance, on time and on budget construction,
and production.
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 and drilling programs of
the Las Chispas Property, including permitting for various work, metallurgical
test, and optimizing and updating the Company's resource model and preparing a
feasibility study; the accessibility of future mining at the Las Chispas Property
and satisfaction of MIA requirements.. 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
reliability of mineralization estimates, 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; issues in satisfying MIA
requirements 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.
N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.
Chief Executive Officer
SilverCrest Metals Inc.
For Further Information:
SilverCrest Metals Inc.
Contact: Jacy Zerb, Investor Relations Manager
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: Jacy Zerb, Investor Relations Manager
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
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Services Provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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