Mining Stock News: SilverCrest (TSX:
$SIL.TO; NYSE: $SILV) Announces New High-Grade Discovery at Las Chispas and
Record Intercept; @SilverCrestMet
2.4 Metres (TW) Grading 555.36 gpt Au and 19,452.8 gpt Ag, or 61,105 gpt
AgEq
TSX: SIL | NYSE American: SILV
Vancouver, British Columbia - November 16, 2020 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSX: SIL.TO; NYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce drill results for its newest high-grade discovery, the Babi Vista Splay Vein ("Babi Vista Splay" or "Splay"), and in-fill drilling for the northwest extension of the Babi Vista Vein ("Babi Vista") at its Las Chispas Property ("Las Chispas" or the "Property") located in Sonora, Mexico. The current drill program for Babi Vista is designed to expand high-grade precious metal mineralization along strike and to depth of the vein (see attached Figures). Included in this release are results for 129 holes (see Tables below) which include 24 expansion holes for the Babi Vista Splay and 105 in-fill holes for Babi Vista.
Read this news featuring SILV in full at https://www.investorideas.com/CO/SILV/news/2020/11161Las-Chispas.asp
News release images (CNW Group/SilverCrest Metals
Inc.)
The Babi Vista Splay is located in the southeast
extension of the Babi Vista Vein and appears to be a splayed quartz
argentite-rich vein in the hanging wall of Babi Vista.
Highlights for Discovery of Babi Vista Splay Vein
·
24 core holes drilled to date.
·
High-grade footprint of approximately 300 metres
along strike and average height of 175 metres.
·
Weighted average results (true width
("TW"), uncut, undiluted) are 1.6 metres grading 74.27 grams per tonne
("gpt") gold ("Au") and 3,437.1 gpt silver
("Ag"), or 9,007 gpt silver equivalent ("AgEq", based on 75
Ag:1 Au) within the high-grade footprint.
·
Average is dominated by hole BV20-201 with 2.4
metres (TW) grading 555.36 gpt gold and 19,452.8 gpt Ag, or 61,105 gpt AgEq.
When excluding this hole, the weighted average results are 1.5 metres grading
10.35 gpt Au and 1,309.1 gpt Ag, or 2,085 gpt AgEq.
·
Hole BV20-201 establishes a new grade-thickness
record for the Property of 189,426 gram-metres which compares to the previous
record of 125,111 gram-metres (1.7 metres grading 73,595 gpt AgEq in Hole
BV20-60).
·
Discovery is near the Company's ongoing underground
work and is readily accessible for potential early mining.
·
Discovery will be included as Inferred Resources
for the upcoming resource estimation in the ongoing feasibility study.
Babi Vista Vein in-fill drill results confirmed
high-grade mineralization in the vein to the northwest. These results will be
used for re-classification of mineral resources for consideration in the
upcoming maiden reserves in the ongoing feasibility study. Drill results for
the updated resources to be included in the feasibility study were cutoff on
October 16, 2020. While drilling for the Babi Vista Splay and Babi Vista Vein,
the Babi Vista Footwall ("FW"), Granaditas and several previously
unknown and unnamed veins were also intersected with results presented in
tables below.
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"We continue to find new high-grade opportunities at Las Chispas, with yet
another record-breaking intercept and vein discovery. Results from the Babi
Vista Splay highlight continued potential for high-grade resource growth in the
vicinity of our current underground work. With five drills active at Las
Chispas, we expect to see further results in the coming months from both
expansion and in-fill drilling beyond the completion of the feasibility
study."
The most significant result for this release is
Hole BV20-201, which intersected 2.4 metres (estimated true width) grading
555.36 gpt Au and 19,452.8 gpt Ag, or 61,105 gpt AgEq. Also noteworthy are
holes BV20-203 at 3.3 metres grading 38.18 gpt Au and 5,060.7 gpt Ag, or 7,924
gpt AgEq in the Babi Vista Splay and BV20-106 at 0.7 metres grading 52.2 gpt Au
and 3,710.0 gpt Ag, or 7,625 gpt AgEq in the Babi Vista Vein. The following
tables summarize the most significant drill intercepts (uncut, undiluted) for
this release:
Babi Vista Splay Vein
Babi Vista Vein
Babi Vista FW & Granaditas Veins
Unnamed Vein Intercepts
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada, and Bureau Veritas
Inspectorate Ltd. in Hermosillo, Mexico.
Holes BA18-91, BV20-86 to 87, 90 to 91, 93, 95 to
99, 103 to 105, 107 to 111, 113, 115 to 119, 112 to 122, 124, 128 to 129, 131
to 134, 138, 141 to 142, 144 to 145, 148 to 151, 153, 155 to 157, 160 to 162,
164, 166, 168 to 173, 176 to 177, 180, 183 to 190, 192, 194, 196, 198 to 200,
202, 204 to 205, 212, 214 to 215 and 217 intersected veining but were below the
Company's cutoff grade of 150 gpt AgEq.
There are currently five (5) surface core drills
operating at Las Chispas. These drill rigs are completing further known vein
expansion holes for the Babi Vista Vein, El Muerto Zone and Amethyst Vein.
Approximately 30 holes for 12,000 metres remain to be completed for 2020. An
updated resource estimate is being completed as part of the ongoing feasibility
study with an expected completion in Q4 2020 or early January 2021.
The Qualified Person under National Instrument
43-101 Standards of Disclosure for Mineral Projects for this news release is N.
Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved
its contents.
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 of where all the resources 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" 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 updating the Company's resource model and
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 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: impact of the COVID-19 pandemic; 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:
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.
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
SilverCrest
Metals Inc. (TSXV: SIL.V; NYSE: SILV) is a featured company on Investorideas.com
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