SilverCrest (TSXV: $SIL.V;
OTCQX: $SVCMF) Announces Infill Drilling Results for Babicanora Vein
Vancouver, British Columbia - December 27, 2017
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; OTCQX: SVCMF) is pleased to announce additional Phase II drill results for the Las
Chispas Property (the "Property") located in Sonora, Mexico. Infill
drilling of the Babicanora Vein continues to intersect high-grade
mineralization. With the latest results, SilverCrest has drill-tested and
intersected high-grade mineralization for over 1,000 metres of strike length at
the Babicanora Vein (see attached Figures). There are 19 known epithermal veins
on the Property, including nine which have been drilled, and consist of the
Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La Blanquita, William
Tell, Varela, Granaditas and Amethyst veins. SilverCrest has intersected
high-grade silver-gold mineralization in each of the nine veins drilled to
date.
N. Eric Fier, CPG, P.Eng, President and CEO,
remarked, "Our continued drilling of the Babicanora Vein has shown
consistent high-grades along the drill-tested strike length of over one
kilometer, and this vein is open to the southeast and northwest. Currently, we
are drilling an additional 10 to 15 surface holes at the Babicanora Vein to
test for further extensions by mid-January 2018 in anticipation of releasing a
maiden resource estimate for the Las Chispas Property in February 2018."
The most significant result for this release was
returned from Hole BA17-51, which intersected 3.1 metres (true thickness)
grading 40.45 grams per tonne ("gpt") gold and 5,375.2 gpt silver or
8,409 gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) and 100%
metallurgical recovery). Also noteworthy is Hole BA17-49 at 2.0 metres grading
18.20 gpt gold and 1,791.4 gpt silver, or 3,158 gpt AgEq and Hole BA17-46 at
1.2 metres grading 54.20 gpt gold and 2,020.7 gpt silver, or 6,086 gpt AgEq.
The following table summarizes the most significant drill intercepts (uncut,
undiluted) for this release:
Note: all numbers are rounded.
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill holes BA17-44 and 45 intercepted anomalous
mineralization, but are below the Company's 150 gpt AgEq cutoff.
Holes BA17-46, 48 and 49 intercepted bonanza grades
in the Babicanora Footwall Vein. Hole BA17-51 intercepted bonanza grades
consisting of coarse argentite, electrum, native silver and gold.
The Company plans to continue with step-out and
infill drilling consisting of an additional 10 to 15 surface holes on the
Babicanora Vein and ongoing underground drilling on the Las Chispas and
Giovanni veins. Furthermore, the Company continues to collect trench samples
from the surface dumps. The Company anticipates concluding its expanded Phase
II program by mid-January 2018 in time for results to be incorporated into the
maiden resource estimate in February 2018.
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 President 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.
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.
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; 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.
N. Eric
Fier, CPG, P.Eng
President & CEO
President & CEO
SilverCrest
Metals Inc.
For Further Information:
SilverCrest
Metals Inc.
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
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) 694-1761
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
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.
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