#Mining Stock News:
#SilverCrest (TSXV: $SIL.V; NYSE: $SILV) Announces More High-Grade In-Fill
& Expansion Drill Results
·
1.4 Metres at 15,839 gpt
AgEq
·
5.1 Metres at 2,174 gpt AgEq
·
6.5 Metres at 1,586 gpt AgEq
Vancouver, British Columbia - February 25, 2019
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; NYSE
American: SILV) ("SilverCrest" or the
"Company") SilverCrest Metals Inc. (TSXV: SIL) (NYSE American: SILV)
("SilverCrest" or the "Company") is pleased to report
further Phase III drill results for the Las Chispas Property (the "Property")
located in Sonora, Mexico. The 19 reported in-fill and expansion drill holes in
this news release were targeting mineralization in the Babicanora Vein,
Babicanora Norte ("Babi Norte") Vein, the Babicanora Footwall
("Babi FW") Vein and the Babicanora Hangingwall ("Babi HW")
Vein (see attached Figures). While targeting mineralization in the Babi Norte
Vein, the Company has discovered a new vein named "Babi Vista", the
ninth vein out of 30 veins in the district.
Read this in full
and see images at https://www.investorideas.com/CO/SILV/news/2019/02251DrillResults.asp
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"The Company's in-fill drill program at Babicanora continues to deliver
drill intercepts with better than expected widths and grade. These results
demonstrate that the two previously announced multi-kilogram per tonne shoots
(shoots 43 and 51) now appear to be one continuous shoot ("Shoot
51"). Holes BA19-132 and 133 have also expanded the footprint of the high
grade shoot towards the surface. Shoot 51 now has an estimated dimension of 300
metres long by 125 metres high. In-fill drilling targeting the Babicanora Vein
also confirmed and expanded high-grade mineralization within the Babi FW and
Babi HW veins, while expansion drilling targeting the Babi Norte Vein resulted
in the Babi Vista discovery. The Company has now identified five veins
averaging 150 metres apart in the Babicanora area, all of which have the
potential to be accessible from the ongoing exploration decline. The Company is
scheduled to intersect Shoot 51 in H2, 2019 and plans initial development of
800 metres along the strike of the high-grade mineralization in Area 51. This
planned decline helps to further de-risk Area 51 with bulk sampling and
provides meaningful information for the engineering studies. These new results
will be part of the next resource update, which we expect to announce in March,
2019".
The most significant result for this release in is
Hole BA18-133 which intersected 1.4 metres (estimated drilled width) grading
64.25 gpt gold (or "Au") and 11,020 gpt silver (or "Ag"),
or 15,839 gpt silver equivalent ("AgEq", based on assumptions defined
in the table below). Also noteworthy are holes BA18-132, at 5.1 metres grading
11.47 gpt Au and 1,313.8 gpt Ag, or 2,174 gpt AgEq, and BA18-131 at 6.5 metres
grading 9.99 gpt Au and 836.7 gpt Ag, or 1,586 gpt AgEq. The following table
summarizes the most significant drill intercepts (uncut, undiluted) for this
release;
Babi FW Vein In-Fill Drill
Intercepts:
Babi HW Vein In-Fill Drill
Intercepts:
Babi Norte Vein Expansion
Drill Intercepts:
Babi Vista Vein Drill
Intercepts:
Note: all numbers are rounded. Based on a cutoff
grade of 150 gpt AgEq with 0.5 metre minimum width. Babi FW Vein intercept in
hole BA18-122 was noted as part of Babicanora Vein. Babi Vista Vein intercepts
BAN18-14, 30, 33 and UBN18-03 were previously reported in various news releases
as unknown veins.
*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.
**True width is 80 to 100% of drilled width.
***UB signifies an underground drill hole.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
For the Babicanora Vein, Hole BA18-127 was lost downhole
and BA18-129, 130, 136 to 138, 140 and 141 are below the Company's cutoff grade
of 150 gpt AgEq for Las Chispas. Assay results "cutoff date" for this
release was February 8, 2019. The same cutoff date for the upcoming resource
estimate. Assay results for hole BA18-135 will be reported in due course as
they were not received before cutoff date. For the Babi Norte Vein, holes
BAN18-41, 42, 44 to 49, 52, and 55 are below the Company's cutoff grade of 150
gpt AgEq.
In-fill and expansion drill results for Babi FW
Vein and Babi HW Vein show confirmation and expansion of previously announced
high-grade footprints (see attached Figures and news release dated January 9,
2019). Drill results for the Babi FW Vein have increased the high-grade
mineralized footprint (discrete zones) from 900 to 1,200 metres. Both Babi FW
and Babi HW veins are sub-parallel to the adjacent Babicanora Vein at a
distance of 3 to 30 metres. These veins are related to several discrete
high-grade zones (shoots) representing intersections of cross-cutting
structures similar to all other drill-tested veins in the district.
Expansion drilling on the Babi Norte Vein has
increased the high-grade mineralized footprint (discrete zones) from 900 metres
to 1.2 kilometres. The "Babi Vista" Vein was previously considered
part of Babi Norte; however, with further drilling, Babi Vista has been
identified as a separate new vein which may be the extension of the Granaditas
Vein or a splay of Babi Norte Vein (see attached Figures). Babi Vista is considered
the ninth discovered vein of the known 30 veins in the district.
A total of 58 in-fill and expansion holes have been
completed in the Babicanora veins since the September 13, 2018 resource
estimate. Since that date, 39 in-fill holes in Area 51 high-grade footprint
show an estimated weighted average (true width, uncut, undiluted) of 3.5 metres
grading 11.30 gpt Au and 1,093.3 gpt Ag, or 1,941 gpt AgEq. For comparison, in
the September 13, 2018 resource estimate, Area 51 had an estimated weighted
average true width of 2.7 metres, grading 7.13 gpt Au and 614 gpt Ag, or 1,148
gpt AgEq.
The Company continues its Phase III exploration
program with 12 drills operating on site. Drills are focused on expanding
mineralization and improving the resource confidence through in-fill drilling
(25 to 35 metre spacing) to reclassify Inferred Resources to Measured and
Indicated. The assay cutoff date for the imminent resource update was February
8, 2019. The upcoming resource update for the Las Chispas Project is being prepared
by Tetra Tech Canada Inc. ("Tetra Tech"). For the upcoming resource,
Tetra Tech intends to apply a minimum vein width of 0.5 metres to the veins in
the Babicanora area for modelling, a decrease from a minimum width of 1.5
metres used in the September 2018 Resource Estimate. An additional 40,000 to
50,000 metres of infill and expansion drilling are planned for H1, 2019. Other
ongoing site work includes the PEA study expected in early Q2, ground breaking
for the Area 51 decline, an extensive metallurgical test program, testing large
diameter wells for site water, and permitting for various additional 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.
Figure 1:
Long Section (Inclined) of Babicanora Vein Las Chispas Property, Looking
Southwest
Figure 2:
Long Section (Inclined) of Babicanora Vein Area 51, Looking Souhwest (Insert)
Figure 3:
Long Section (Inclined) of Babicanora Footwall Vein, Looking Southwest
Figure 4:
Babicanora Norte Long Section Looking Southwest
Figure 5:
Transparent 3D of Babicanora Area with Veins (Looking Northwest)
Figure 6:
Las Chispas District with Babicanora Plan Map, February 2019
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. Such
forward‐looking statements concern the
intended use of proceeds and the scheduled closing date for the Offering. 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: conditions in general
economic and financial markets; timing and amount of capital expenditures; 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 the risk factors including: the timing and content of work programs;
results of exploration activities of mineral properties; the interpretation of
drilling results and other geological data; 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: 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
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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