SilverCrest (TSXV: $SIL.V) Reports Additional High
Grade Underground Sampling Results at Las Chispas
Vancouver - July 19, 2016 (Investorideas.com
Newswire) SilverCrest Metals Inc. (TSXV: $SIL.V) ("SilverCrest" or the
"Company") is pleased to announce an update on the underground
rehabilitation program with additional assay results from underground channel
sampling at its Las Chispas Project ("Las Chispas") located in
Sonora, Mexico . Las Chispas is in a historic silver-gold mining district which
presently hosts two nearby precious metal producers. Historic information
indicates that only three veins of the fourteen historically reported veins at
Las Chispas have had documented production, which occurred between 1880 and
1930. SilverCrest's initial focus is on these three veins; the Las Chispas,
William Tell and Babicanora. To the Company's knowledge, none of the known veins
have ever been drilled. For more information, please refer to our website at www.silvercrestmetals.com.
N. Eric Fier , CPG, P.Eng, President & CEO
remarked, "It is very encouraging to receive additional high grade results
from our ongoing underground channel sampling program at Las Chispas as we
continue to gain further access to historic workings. Our onsite team has
safely ascended to the historic 300 level** of the Las Chispas vein with
subsequent ongoing mapping and sampling. Our channel sample results on the 300
and 400 levels are showing multiple grades of plus 1 kilogram per tonne silver
and up to 2.2 kilograms per tonne silver equivalent*. We are experiencing
minimal challenges in accessing and rehabilitating the underground workings.
Rehabilitation mainly consists of the removal and stockpiling of historic
backfill material along with safely constructing ladders and bridges. We are
currently surface drilling based on the expanded Phase I program with ongoing
compilation of all our drill data and integration with underground
results."
Underground Rehabilitation Update
The Company continues to systemically collect
channel samples at intervals of two to three metres along strike length as new
areas and levels are being explored. In its news release dated June 9, 2016 ,
the Company disclosed that it had gained access to the historic 400 level and
reported results from nine initial samples. Since then, the Company has
collected a total of 327 additional channel samples from multiple levels as
reported below. Sampling locations and widths are restricted to historic
workings which may only represent part of the mineralized vein, stockwork, or
breccia. The location, true thickness and extent of mineralization is
indeterminate until adequate drilling is completed.
The most significant composited sample results for
this release average 1.5 metres wide at 2.4 grams per tonne ("gpt")
gold and 331.0 gpt silver, or 508.0 gpt silver equivalent (AgEq*, uncut,
undiluted) over a continuous 35 metre strike length in an unmined area of
breccia on the 400 level (see attached Figure and Photo). Also noteworthy is an
average of 1.1 metres wide at 1.55 gpt gold and 334.9 gpt silver, or 450.9 gpt
AgEq over a semi-continuous 90 metre strike length on the 300 level. From
initial mapping, a majority of the 330 level appears to be in the hangingwall
of the vein with the vein undulating in (high grade) and out (low grade) of the
underground workings. Ongoing drilling will help test the true thickness and
grade of mineralization in this area.
The following table summarizes the 20 most
significant un-composited assay results (uncut, undiluted) from various levels
of the Las Chispas vein only;
All assays were completed by ALS Chemex in
Hermosillo, Mexico , and North Vancouver, BC.
The Company is reviewing the possibility of a
controlling, cross-cutting, high grade structural corridor at the Las Chispas
vein which is potentially 500 metres in length and a minimum of 300 metres in
depth (see attached Figure).
To gain access to underground workings, backfill
material is being removed from historical drifts and stopes. This material is
being sampled, assayed, and stockpiled for potential future processing. To
date, 43 representative grab samples have been collected from backfill material
for Las Chispas vein and William Tell vein. Average grade of these samples is
2.45 gpt gold, 239.0 gpt silver, or 423.0 gpt AgEq with grades up to 42.20 gpt
Au and 1,920.0 gpt Ag or 5,085.0 gpt AgEq.
Read this release in full at http://www.investorideas.com/CO/SILV/news/2016/07191.asp
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 is led by a proven management
team in all aspects of the precious metal mining sector, including the
pioneering of a responsible "phased approach" business model taking
projects through discovery, finance, on time and on budget construction, and
production with subsequent increased value to shareholders.
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 Project, including initial extraction
program for bulk sample testing; information with respect to high grade areas
and size of veins projected from underground sampling results; and the
accessibility of future mining at the Las Chispas Project. 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
SilverCrest Metals Inc.
President & CEO
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.
SOURCE SilverCrest Metals Inc.
Contact:
SilverCrest Metals Inc.
Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501, Vancouver, British
Columbia V6C 3P1
Sign up for the free investor news and stock alerts:
This
news is published on the Investorideas.com Newswire - a global digital news
source for investors and business leaders
Disclaimer/Disclosure:
Investorideas.com is a digital publisher of third party sourced news, articles
and equity research as well as creates original content, including video,
interviews and articles. Original content created by investorideas is protected
by copyright laws other than syndication rights. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investment involves risk and possible loss of
investment. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Contact
each company directly regarding content and press release questions. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp.Disclosure: SilverCrest Metals is an annual
publishing client of Investorideas.com, publishing news, video and social
media.
Additional info
regarding BC Residents and global Investors: Effective September 15 2008 - all
BC investors should review all OTC and Pink sheet listed companies for
adherence in new disclosure filings and filing appropriate documents with
Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to
regulations of each country.
