#Mining Stock News:
#SilverCrest (TSXV: $SIL.V; NYSE: $SILV) Expands High-Grade Babicanora Norte
Vein
Vancouver, British Columbia - September 13, 2018
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; NYSE
American: SILV) ("SilverCrest" or the
"Company") is pleased to announce further Phase III drill results for
the Las Chispas Property (the "Property") located in Sonora, Mexico.
Continued step out drilling of the Babicanora Norte Vein, since the Company's
news release on May 29, 2018, announcing the discovery of this vein, and
initial step-out drilling results reported July 24, 2018, has intersected
additional high-grade silver-gold mineralization (see attached Figures). The
Babicanora Norte Vein is parallel to the Babicanora Vein and is located
approximately 300 metres northeast. The vein appears to connect with the
Granaditas area which has multiple drill-tested veins to the southeast. The
Babicanora Norte Vein will be part of the upcoming updated resource which will
include 8 of the 30 identified veins in the district. Five (5) veins were
included in the February 2018 maiden resource.
Read this news in full and see images at https://www.investorideas.com/CO/SILV/news/2018/09131BabicanoraNorteVein.asp
Figure 1:
Babicanora Norte Long Section Looking Southwest, 13 Sept 2018
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"the Babicanora Norte Vein continues to deliver near-surface drill
intercepts with high-grade silver-gold mineralization along an estimated known
strike length of 900 metres. We now have 30 epithermal veins on the property
with a total cumulative strike length of approximately 20 kilometres, of which
5 kilometres have been partially drilled and only 3.5 kilometres were included
in the February 2018 maiden resource. We are currently at the end of the rainy
season with reduced drilling but have continued to step-out drill with several
core rigs on the Babicanora Norte, Granaditas, and Babicanora Sur veins. We are
systematically working towards an imminent resource update."
The most significant result for this release was
returned from Hole BA18-31, which intersected 1.8 metres (true width) grading
15.11 grams per tonne ("gpt") gold and 1,718.2 gpt silver, or 2,851
gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) calculated
using long-term silver and gold prices of US$18.50 per ounce silver and
US$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver
and 98.9% gold). Also noteworthy is Hole BA18-40 at 1.6 metres grading 8.96 gpt
gold and 1078.7 gpt silver, or 1,750 gpt AgEq. The following table summarizes
the most significant drill intercepts for this news release (uncut, undiluted).
Babicanora Norte Vein Significant Drill Intercepts
in this new release;
Note: all numbers are rounded.
* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold.
* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill holes BAN18-29, 34, 35, 38 and 39 intercepted
quartz veining/stockwork and anomalous mineralization, but are below the
Company's 150 gpt AgEq cutoff. Hole BAN18-28 was lost while drilling and did
not reach its intended target depth. Hole BAN18-32 intercepted two unnamed
mineralized veins as listed below. Holes BAN18-31, 37, and 40 contain
argentite, native silver, silver oxides (chalky white) and free gold.
The Babicanora Norte Vein has drill intercepted 19
core holes in the high grade footprint(s) over approximately 900 metres along
strike (see attached Figures). Of the 19 intercepts, eight are greater than
1,000 gpt AgEq (1,004 to 7,436 gpt AgEq). High-grade intercepts in the
Babicanora Norte Vein appears to be in the same projected high-grade structural
corridor as the Babicanora Vein including Area 51 which is located
approximately 300 metres to the southwest with a current Inferred Resource of
an estimated 32.2 million ounces AgEq grading 1,026 gpt AgEq (see
"Technical Report and MRE").
Figure 2:
Babicanora Area w/Defined Veins, 13 Sept 2018
Not included in the above table is the following
additional drill intercepts of unnamed vein(s) located adjacent to the
Babicanora Norte Vein:
·
Hole BAN18-32; 0.55 metres grading 0.67 gpt Au and
69.9 gpt Ag or 120 gpt AgEq,
·
Hole BAN18-32; 0.50 metres grading 0.46 gpt Au and
114.0 gpt Ag or 148 gpt AgEq,
·
Hole BAN18-33; 1.50 metres grading 0.66 gpt Au and
98.9 gpt Ag or 149 gpt AgEq,
·
Hole BAN18-33; 2.40 metres grading 0.47 gpt Au and
468.6 gpt Ag or 503 gpt AgEq,
·
Hole BAN18-36; 0.53 metres grading 0.51 gpt Au and
74.8 gpt Ag or 113 gpt AgEq, and
·
Hole BAN18-40; 0.50 metres grading 2.21 gpt Au and
242 gpt Ag or 407.8 gpt AgEq.
The high-grade intercept of 2.4 metres grading 503
gpt AgEq in Hole BAN18-33 appears to be on projection with other mineralized
intercepts and will be further drill-tested in the near-future for possible
high-grade continuity.
The Company continues its Phase III exploration
program with nine (9) drills on site, seven on surface and two underground.
Seasonal rains are beginning to dissipate and drills are being redirected for
continued expansion and startup of infill drilling. Up to September 10, 2018,
drills were focused on expanding mineralization for inclusion in the updated
resource anticipated in Q3, 2018. Assays are pending on the Babicanora Vein
southeast expansion, Babicanora Sur Vein, Granaditas Vein expansion, and other
veins, which will be reported after receipt and compilation. Approximately
20,000 additional metres of drilling are budgeted for Q4, 2018. This drilling
will be split between further expansion drilling on numerous veins and startup
of infill drilling for re-categorizing the resource. Other ongoing site work
includes: continued underground mapping and sampling on the Las Chispas Vein
(near completion), testing recently drilled wells for site water flow rates,
permitting for various additional work, and planning for the startup of a new
underground decline into Area 51 with subsequent advancement in high-grade
mineralization for bulk testing.
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 drilling test water
wells, permitting for various work, and optimizing and updating the Company's
resource model; 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.
For Further Information:
Contact:Michael Rapsch, VP Corp. Comm.
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
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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