#Mining News: #SilverCrest
(TSXV: $SIL.V; OTCQX: $SVCMF) Continues to Expand High‐Grade Footprint for
Babicanora Vein; 4.0 metres at 22.83 gpt Au and 1,718.8 gpt Ag, or 3,431 gpt
AgEq
Vancouver, British Columbia - April 10, 2018 (Investorideas.com Newswire)
SilverCrest Metals Inc. (TSXV:
SIL.V; OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to
announce its first set of Phase III drill results for the Las Chispas Property
(the "Property") located in Sonora, Mexico. Step out drilling of the
Babicanora Vein, including Area 51, continues to intersect high‐grade mineralization
(see attached Figures). There are now 23 identified epithermal veins on the
Property (previously reported as 19 veins). Of the 23 veins, the Company has
only drilled tested nine of these veins, which are the Babicanora, Babicanora
Footwall, Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas
and Amethyst veins. Only five of these nine drilled tested veins have been
included in the recently announced maiden resources (refer to the Company's
news release dated February 26, 2018).
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"Our initial Phase III drill holes in the Babicanora Vein continue to
intercept high‐ grade precious metal mineralization along a drill‐tested strike
length of 1.5 kilometres. The drill results from the southeast extension of the
Babicanora Vein, known as Area 51, show further bonanza grades1, with increased
size of the high‐grade footprint. For H1 2018, we will continue expansion drilling of the
Babicanora Vein, initial holes into Babi Sur Vein, and additional holes into
the Las Chispas, Amethyst, Granaditas and other veins. We are systematically
drilling only step out expansion holes and working towards an updated resource
for Q3 2018."
The most significant result for this release was
returned from Hole BA18‐81, which intersected 4.0 metres (true width) grading
22.83 grams per tonne ("gpt") gold and
1,718.8 gpt silver or 3,341 gpt silver equivalent ("AgEq", based on
75 (Ag):1 (Au) and 100% metallurgical recovery). Also noteworthy is Hole BA18‐77 at 4.5 metres
grading 7.96 gpt gold and 912.0 gpt silver, or 1,509 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.
1 The Company defines bonanza grades as grades
greater than 1,000 gpt AgEq
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill holes BA18‐66, 67, 69, 71, 73, 76, 78,
79, and 80 intercepted anomalous mineralization, but are below the Company's
150 gpt AgEq cutoff. Holes BA18‐68, 70, 77, and 81 intercepted grades greater than
1,000 gpt AgEq, consisting of acanthite, argentite, electrum, native silver and
visible gold. Holes BA18‐66, 67, and 68 were included in the Company's maiden resource estimate
dated February 26, 2018. Hole BA18‐75 deviated and did not
intercept intended target. Holes BA18‐67, 71, 73 and 79 showed
elevated lead, zinc and copper (including precious metals) with possible
transition to increased base metals to depth and southeast along the strike of
the Babicanora Vein. Further core review, sampling and assaying is underway on
holes southeast and to depth of Area 51 to determine boundaries for potential
base metal transition. Results for this review are pending. Drill success rate
for the Babicanora Vein to date is approximately 70% of intercepts in the high‐grade footprint.
The Babicanora Vein high‐grade footprint
measures approximately 1,500 metres long by 180 metres high by 3.1 metres in average
true width. Further drilling is ongoing with six surface drills and one
underground drill. Area 51 now measures approximately 500 metres long by 200
metres high by 3.0 metres in average true width. To date, a total of 20 holes
have now intersected the high‐grade footprint of Area 51 with an average
estimated grade of 10.37 gpt gold and 943.7 gpt silver, or 1,721 gpt AgEq
(uncut, undiluted).
The Company commenced Phase III exploration program
for further step‐out drilling at the Babicanora Vein, including Area 51, and initial
drilling on several other veins in the district. An additional 15,000 to 20,000
metres of drilling are planned by Q3 2018. Other ongoing site work includes
continued underground mapping and sampling on the Las Chispas Vein, drilling
test wells for site water, permitting work, and a review of the maiden resource
model for optimization and update.
The Company's maiden resource report for the
estimate announced on February 26, 2018 will be filed on SEDAR later this week.
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. 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,
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.
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
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