#Mining Stock News:
#SilverCrest (TSX: $SIL.TO; NYSE: $SILV) Provides Corporate Update; @SilverCrestMet
Vancouver, British Columbia - June 23, 2020
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSX:
SIL.TO; NYSE
American: SILV) ("SilverCrest" or the
"Company") is pleased to provide a corporate update with respect to
the Las Chispas Project ("Las Chispas") in Sonora, Mexico, and
management changes.
Read this news featuring SILV in full at https://www.investorideas.com/CO/SILV/news/2020/06231CorporateUpdate.asp
N. Eric Fier, CEO, commented, "We continue to
adjust to unprecedented COVID-19 conditions with the operation of a fully
functional confined camp at Las Chispas. Health and safety of our people and
surrounding communities are paramount as we move the project forward. The
SilverCrest Team is back to operating eight exploration drills, advancing
underground development at 10 to 15 metres per day, and working diligently on feasibility
and engineering designs in preparation for potential major mine construction in
2021.
As of June 15, 2020, Mr. Nick Campbell, Executive
V.P. of Business Development and Dr. Salvador Aguayo, V.P. of Mexico
Development, have stepped down from their respective company roles. Nick has
been an integral part of the SilverCrest success story and will be missed. We
wish him all the best in his future endeavours. Salvador will be retiring after
40 years in the industry. He joined the predecessor company in 2007 and
assisted with the success story, from discovery through production, of the
Santa Elena Mine located 25 kilometres south of Las Chispas. He brought the
same skills and excitement to Las Chispas. Dr. Aguayo will continue with the
Company as consultant and advisor."
Las Chispas Updates
- ·
As of mid-June, the Company had constructed a fully
confined camp at Las Chispas with a capacity for 160 essential persons to
continue its exploration, underground development and construction of early
works.
- ·
Before entering the confined camp, all persons are
tested for COVID-19 (rRT-PCR test) and following receipt of negative tests, are
transported to site using strict health and safety protocols. Once on site, all
appropriate COVID-19 related protocols (see news release dated March 30, 2020)
are enforced.
- ·
Currently eight (8) exploration drills are
operating. The Company took advantage of the slow down (due to COVID-19) to
further in-fill drill on the Babi Vista Vein for resource estimation and
feasibility work.
- ·
Target drilling of an estimated 70,000 metres is
planned in H2 focusing on high-grade resource expansion of the following veins:
Babicanora (southeast and northwest, deep), Babi Sur (southeast to depth), Babi
Vista (all directions), Babicanora Norte (southeast and northwest, deep), Las
Chispas (southeast to depth), Giovanni (southeast to depth), William Tell (all
directions), and Varela (all directions).
- ·
Underground development has resumed, with a target
of 500 metres per month by Q3, 2020, under confined camp conditions. The first
ventilation raise in the Babicanora area has been completed.
- ·
The feasibility study is progressing in parallel
with the exploration and development efforts:
- 1.
Basic engineering was completed in May 2020;
- 2.
Procurement of long lead equipment items are
expected to start in H2, 2020;
- 3.
Detailed engineering was initiated in June 2020 and
will carry on to Q1, 2021; and
- 4.
Feasibility study currently expected near the end
of this year.
- ·
Communications with local communities and
government continue to be paramount as we adjust our efforts to provide
assistance with medical needs due to COVID-19. The use of a confined site camp
is limiting physical exposure to the community.
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. The Las Chispas Project consists of
28 mineral concessions, of which the Company has 100% ownership and where all
the known mineral resources of the Company are located. SilverCrest is the
first company to successfully drill-test the historic Las Chispas Property
resulting in numerous high-grade precious metal 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking
statements" and "forward-looking information" (collectively,
"forward-looking statements") within the meaning of Canadian and
United States 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 preparing a feasibility study; information with respect to high grade
areas and size of veins projected from underground sampling results and
drilling results; and the possibility 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: impact of the COVID-19 pandemic; the reliability
of mineralization and metallurgical test estimates, the conditions in general
economic and financial markets; availability of skilled labour; timing and
amount of expenditures related to underground development 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: uncertainty as to the impact
and duration of the COVID-19 pandemic; 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.
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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