#Mining News: #SilverCrest
(TSXV: $SIL.V; OTCQX: $SVCMF) Delineates 10th High-Grade Vein at Las Chispas;
Multiple High-Grades Intercepted
Vancouver, BC - April 17, 2018 (Investorideas.com
Newswire) SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX:
SVCMF) ("SilverCrest" or the
"Company") is pleased to announce drill results from the Luigi Vein
on the Las Chispas Property (the "Property") located in Sonora,
Mexico. SilverCrest discovered the Luigi Vein in the footwall of the Las
Chispas Vein in mid-2017 but it remained un-named until the Company completed
enough drilling to delineate an actual mineral vein. Several of the announced
holes in this release were previously disclosed as an un-named vein. There are
23 known epithermal veins on the Property. The Company has tested ten (10) of
these 23 veins (the Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La
Blanquita, William Tell, Varela, Granaditas, Luigi and Amethyst veins), all of
which have drill-intersected high-grade mineralization. The Luigi Vein was not
included in the recently announced maiden resource (refer to the Company's news release dated February 26,
2018).
N. Eric Fier, CPG, P.Eng and CEO, remarked,
"With the addition of the Luigi Vein, we continue to grow our portfolio of
high-grade mineralized veins and are beginning to understand the "nature
of multiples" when it comes to projecting high-grade previous
drill-intercepts in adjacent veins on to new discoveries. This is the tenth
high-grade vein we have delineated in the district, which is immediately
adjacent to the Las Chispas Vein and accessible by underground workings. The
Luigi Vein is named after Luigi Pedrazzini, son of Giovanni Pedrazzini the
founder of Minas Pedrazzini Gold and Silver Mining Company which operated at
the Property from the late 1800s to 1930. We plan to further drill test the
Luigi Vein during H1 2018 and include the results in the proposed updated
resources in Q3 2018."
The most significant result for this release
occurred in Hole LC17-65, which intersected 1.4 metres (true width) grading
13.22 grams per tonne ("gpt") gold and 2,006.7 gpt silver, or 2,999
gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) and 100%
metallurgical recovery). Also noteworthy is Hole LC17-45 which intersected 4.1
metres grading 1.71 gpt gold and 231.8 gpt silver, or 360 gpt AgEq. The following
table summarizes the most significant drill intercepts (uncut, undiluted) for
the Luigi Vein:
Note: all numbers are rounded. All intercepts were
previously announced as "Un-named veins" except where noted.
* AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
† True thickness reinterpreted on intercept from previous news release.
§ New drill intercept.
* AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
† True thickness reinterpreted on intercept from previous news release.
§ New drill intercept.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill hole numbering for the Luigi Vein is out of
sequence and dates back several months into 2017 as the Luigi Vein was not
identified as a vein until subsequent holes were drilled. None of the drill
holes for the Luigi Vein are included in the Company's maiden resource
previously announced on February 26, 2018. Please refer to news releases dated
May 11, 2017, August 3, 2017, and November 28, 2017 for intercepts marked as
"un-named" from previous announcement of drill results. Hole LCU18-25
is a new intercept for this release.
Refer to attached Figure for holes that were below
the Company's 150 gpt AgEq cutoff.
The Luigi Vein high-grade footprint currently
measures approximately 300 metres long by a minimum of 75 metres high by 1.7
metres in average true width, with a weighted average grade of 2.84 gpt gold
and 416.6 gpt silver, or 629 gpt AgEq. The Company plans to continue drilling
on this vein for potential expansion as part of its Phase III drill program.
The Phase III drill program also includes drilling
several new and partially-drilled high-grade mineralized veins. An additional
15,000 to 20,000 metres of drilling are planned for Q3 2018. Other ongoing site
work includes continued underground mapping and sampling on the Las Chispas
Vein, drilling test wells for site water, permitting for various additional
work, and review of maiden resource model for optimization and update.
In addition to exploration work at Las Chispas,
other recent activities in Mexico include the option of the Guadalupe concession
located in the state of Durango to another company and the purchase of the
Cuestra Blanca Ranch (671.9 ha) in the Las Chispas Area. Through its Mexican
subsidiary, SilverCrest now directly owns approximately two thirds of the
surface rights over its Las Chispas mining concession.
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
SilverCrest
Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) is a featured company on Investorideas.com
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