#Mining #Stock News: #SilverCrest
(TSX: $SIL.TO; NYSE: $SILV) Announces Increased Metallurgical Recoveries for
Las Chispas Feasibility Study
Vancouver, British Columbia - March 5, 2020
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSX:
SIL.TO; NYSE
American: SILV) ("SilverCrest" or the
"Company") is pleased to announce metallurgical test results with
increased precious metal recoveries and enhanced process design changes for the
ongoing Feasibility Study ("FS") at the Las Chispas Property
("Las Chispas") located in Sonora, Mexico. After nine months of
extensive further metallurgical test work involving all veins in the current
resource and multiple metallurgical domains, the results show an increase of
recoveries to 96.1% gold ("Au") and 93.9% silver ("Ag"), or
95.0% silver equivalent ("AgEq"); based on a ratio of 75 (Ag): 1(Au),
with average metallurgical recoveries of 95% Au and 90% Ag. These results
represent an increased recovery of 3.4% AgEq over the previous metallurgical
test results, as presented in the Technical Report and Preliminary Economic
Assessment for the Las Chispas Property, Sonora, Mexico, dated effective May
15, 2019, as amended July 19, 2019 ("PEA"), of 94.4% Au and 89.9% Ag,
or 91.6% AgEq.
Read this news featuring SilverCrest in full at https://www.investorideas.com/CO/SILV/news/2020/03051LasChispas-FeasibilityStudy.asp
Pierre Beaudoin, COO, noted, "We are pleased
that the 95% AgEq precious metal recoveries reported in our comprehensive test
work has allowed us to address one of the optimization opportunities outlined
in the PEA. This effort has contributed to the further de-risking of the
conceptual operational profile of Las Chispas. The metallurgical samples
represented over 1.4 tonnes of mineralized material from surface to depth with
applied knowledge on geo-metallurgy with respect to low to high grades,
structural domains, geochemistry and oxide to sulfide mineralization. With
these results and design in-hand, we have initiated the Basic Engineering for
the process plant. Details of this metallurgical work and process design will
be included in the FS now anticipated in the summer of 2020."
The feasibility metallurgical test results in the
following table were completed and provided by SGS Canada Inc., located in
Lakefield, Ontario in cooperation with Ausenco Engineering Canada Inc.
("Ausenco"), an independent consulting firm, responsible for the
processing plant design for the ongoing FS.
Test work was completed on approximately 1.4 tonnes
of mineralized material covering the current mineral resources (refer to the
PEA) focusing on the first 3 years of conceptual mine life with processing feed
coming from the Babicanora Area veins at Las Chispas. The samples were selected
from diamond drill hole assay rejects for all veins in the resource, as well as
material from in-vein drifting for the Babicanora Vein, Area 51 zone. Historic
stockpiles were also included in the test program. A total of 148 leach tests
was completed and covered grades from 1.0 to 16.0 gpt Au, and 90 to 1,822 gpt
Ag, or 165 to 3,022 gpt AgEq. The program was designed to provide design
criteria for hardness/abrasion, variability (geo-metallurgy) results for
leaching, sedimentation, filtration, settling and environmental
characteristics. At this stage, the geo-metallurgical program is still
progressing with the addition of newly discovered Area 118 and Area 200 (see
news release dated November 21, 2019 and February 18, 2020) as well as the Babi
Vista vein, and has also identified further opportunities to improve leach
conditions on individual veins. METSIM software was used to model the
metallurgical balance inclusive of counter current decantation
("CCD"), Merrill-Crowe and filtration process. The CCD/plant tailings
will be detoxified and subjected to filtration to create
environmentally-preferred dry stack tailings. Considerations will be made for
potential use of tailings for underground backfill material.
Recovery results will be incorporated in the
ongoing FS and have assisted with the optimization of the conceptual process
flowsheet to account for anticipated daily mill head grades of 2,000 to 2,500
gpt AgEq. It is expected that designing the plant with capacity to process higher
mill head grade will reduce the requirement for blending and increase the mine
flexibility.
Recent in-vein mining of the Babicanora Vein, Area
51 zone, has identified a continuous mineralized shear zone with clay content
not previously defined from core drilling. With the addition of shear zone
material and increased anticipated grades for conceptual production, the
proposed FS plant design will incorporate SAG milling, dedicated leach trains
and larger units of operation for CCD, Merrill-Crowe and filtration. Also,
gravity circuit with regrinding has been optimized for increased precious metal
recoveries. When compared to the PEA, the front end of the processing circuit
will be simplified with the removal of conveyors and multi-stage crushers, but
the tail end is expected to increase in size due to newly defined mineralized
shear zone with clays and increased precious metal recoveries. As a result of
these ongoing design changes, Ausenco is still completing the feasibility work,
the overall initial capital cost is currently expected to be slightly higher.
Basic Engineering for the processing plant has been granted to Ausenco and will
run in tandem to feasibility work.
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 28 100%-owned mineral concessions where all of the
resources are located. SilverCrest is the first company to successfully
drill-test the historic Las Chispas Project, resulting in numerous discoveries
that are being evaluated for economic viability and potential production in the
future. 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 metallurgical test results, mineralization estimates and grades for drill
intercepts, permitting for various work, and optimizing and 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: 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 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; reliance on metallurgical test estimates, 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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