#Mining Stock News:
#SilverCrest Metals (TSX: $SIL.TO; NYSE: $SILV) Announces COVID-19 Protocols
Vancouver, British Columbia - March 30, 2020
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSX:
SIL.TO; NYSE
American: SILV) ("SilverCrest" or the
"Company") announces protocols to minimize exposure to the novel coronavirus
(the "Virus" or "COVID-19") in order to decrease risk to
the Company's employees, contractors, families and communities near the Las
Chispas Project ("Las Chispas") located in Sonora, Mexico. In
collaboration with government agencies, the Company will temporarily suspend
its ongoing exploration and underground development work at Las Chispas at
least until April 30, 2020 to limit potential exposure of personnel and nearby
communities to the Virus.
Read this news featuring SILV in full at
To date, and in compliance with the Mexico
Presidential Decree issued March 24, 2020 and Sonoran Ministries of Economy,
Labor and Health Decree issued March 29, 2020, the Company has taken the
following measures in an attempt to safeguard against and prevent the potential
spread and impact of the Virus:
- ·
Temporarily closing all SilverCrest offices, with
personnel working remotely from home;
- ·
Restricting non-essential business travel;
- ·
Restricting non-essential visitations to Las
Chispas;
- ·
Limiting concentration of workers in the workplace,
in transportation and in the living quarters;
- ·
Medical screening for COVID-19 symptoms for all
persons prior to entry to Las Chispas;
- ·
Educating employees and contractors on rigorous
hand washing, personal hygiene and disinfecting;
- ·
Requiring contractors to suspend the return of
personnel from out of state;
- ·
Preventively isolating personnel at higher risk to
COVID-19 to work or train remotely from home;
- ·
Providing broad and aggressive community
engagement, near Las Chispas, on COVID-19 education initiatives, including the
distribution of health leaflets related to government guidelines, posters,
health and safety videos on social media and support of community broadcasted
announcements on best health practices;
- ·
Collaborating with government agencies, Sonora
Mining Association and other mining companies to create a working group of
health care providers in order to coordinate efforts;
- ·
Contributing to ongoing community donations through
a local foundation of government recommended medical supplies, including
testing kits, disinfectant and sanitization products, washing stations, masks,
and standard medicines;
- ·
Assisting with the assembly, distribution and
donation of protective masks for employees and the communities near Las
Chispas; and
- ·
Maintaining full salaries and benefits, as
suggested by the Mexico government, for the Company's employees and selective
personnel of associated contractors that will be assisting with local health
programs and nearby community project work during suspension.
Chris Ritchie, President, remarked, "We are
thankful to report that there are currently no known cases of COVID-19 for any
of our employees, contractors, their families in the communities near the Las
Chispas Project. We are monitoring the situation and are proactively working
with our people and community. We feel strongly that our local presence and
activities alongside the government are critically important as we seek to
prioritize health and safety where we live and work."
The COVID-19 pandemic has introduced uncertainty on
the timing of a potential construction decision for the Las Chispas Project,
which may impact other planned activities. As a result, the Company is not
prepared to move forward on construction until there is a clear path to risk
mitigation with additional construction financing, equipment manufacturing,
goods and parts supply, delivery and safe passage of people under the present
threat of COVID-19.
The
Company intends to use this period of time to optimize and finish the
feasibility study for a planned release target of Q3, 2020. This will allow the
Company to incorporate additional drill results received after the original
March 1, 2020 cutoff date for the feasibility resource data, optimize resource
vein estimations with subsequent improvement of the mine schedule and design,
and complete further geologic compilation to increase our understanding of the
high-grade precious metal epithermal model for the district. SilverCrest will
be monitoring the COVID-19 pandemic to determine the timing for ramping up the
Company's 2020 planned site programs and completion of the ongoing feasibility
study.
SilverCrest
currently has a cash balance of approximately US$80 million (or equivalent of
Cdn$114 million), no debt, minimal capital commitments, robust project
economics and is well positioned in the face of an unpredictable market.
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 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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