#Mining #Stock News: #SilverCrest
(TSX: $SIL.TO; NYSE: $SILV) Announces Babi Vista Vein High-Grade Expansion
8.8 Metres at 1,136 gpt AgEq
6.6 Metres at 502 gpt AgEq
Vancouver, British Columbia - November 14, 2019
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSX:
SIL.TO; NYSE
American: SILV) ("SilverCrest" or the
"Company") is pleased to announce expansion drill results for the
Babi Vista Vein in the Babicanora Area of the Las Chispas Project ("Las
Chispas") located in the state of Sonora, Mexico. The drilling announced
today has defined the initial high-grade footprint of the recently discovered
Babi Vista Vein ("Babi Vista", see attached Figures). These drill
results show wider and higher-grade vein mineralization to depth, including
hole BV19-03 with 8.8 metres (true width) grading 1,136 gpt AgEq. The 17
expansion drill holes released today are in addition to the five drill holes in
the Babi Vista Vein previously announced on February 25, 2019. The initial
high-grade footprint is approximately 200 metres high by 150 metres along vein
strike, and open in most directions. Based on total drilling to date within the
Babi Vista high-grade footprint, the initial estimated average true width and
grade of the vein is 2.2 metres grading 4.70 grams per tonne ("gpt")
gold ("Au") and 401.1 gpt silver ("Ag"), or 753 gpt silver
equivalent ("AgEq", based on assumptions defined in the table below).
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"With the recent discovery and expansion of the Babi Vista Vein, we
continue to add value through the drill bit at Las Chispas as we systematically
discover and expand high-grade silver-gold mineralization in the district.
These new drill results for Babi Vista are
impressive, with the wider higher-grade intersections to depth being some of
the widest mineralized vein intercepts on the property.
The Babi Vista high-grade footprint appears to
extend along vein strike, and is open to depth for further expansion. With the
Babicanora Area in-fill drilling nearing completion for resource-to-reserve
conversion, we are shifting our focus back to discoveries and expansion by
re-allocating the drills to add to the high-grade resources, including Babi
Vista. Given we have already intersected the Babi Vista Vein underground, and
its close proximity to the Babicanora and Babicanora Norte veins, there is
potential to incorporate Babi Vista into a conceptual mine plan which would
require limited underground development. In addition to today's results, we are
waiting to announce further results from over 300 drill holes (est. 70%
in-fill, 30% step out) that are currently either being compiled or in the assay
lab."
The most significant result for this release is
Hole BV19-03, which intersected 8.8 metres (estimated true width) grading 7.36
gpt Au and 584.3 gpt Ag, or 1,136 gpt AgEq. Also noteworthy is hole BV19-04 at
6.6 metres grading 3.37 gpt Au and 249.8 gpt Ag, or 502 gpt AgEq. The following
table summarizes the most significant drill intercepts (uncut, undiluted) for
this release.
Note: All numbers are rounded. Based on a cutoff
grade of 150 gpt AgEq.
* AgEq based on 75 (Ag):1 (Au) calculated using
long-term silver and gold prices of US$17 per ounce silver and US$1,225 per
ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.
**UBV defines underground drill hole.
***Variations in vein widths are typical for
epithermal vein systems.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada. Holes UBV19-01, UBV19-04,
UBV19-09 to 11, BV19-01, BV19-02 and BV19-05 intercepted veining, but were
below the Company's cutoff grade of 150 gpt AgEq.
Several unnamed veins were intersected while
drilling the Babi Vista Vein with the following intercepts:
·
Hole BV19-03 - 0.5m grading 0.97 gpt Au and 94.0
gpt Ag, or 167 gpt AgEq;
·
Hole BV19-04 - 1.2m grading 1.03 gpt Au and 114.4
gpt Ag, or 192 gpt AgEq; and from the same drill hole,
·
Hole BV19-04 - 1.0m grading 1.88 gpt Au and 178.0
gpt Ag, or 319 gpt AgEq.
These unnamed vein intercepts add to the potential
for further discoveries.
There are currently 17 core drills operating at Las
Chispas; 16 surface and one underground. This includes, 13 rigs completing
in-fill and vein expansion holes in the Babicanora Area known veins, and four
rigs working on new vein targets and in-fill for the Las Chispas Area.
Approximately 80 holes for 20,000 to 25,000 metres remain to be completed in
2019, of which 20 to 30 holes (3,000 metres) are for the Babi Vista Vein.
Updated resource and maiden reserve estimates,
potentially including Babi Vista, are anticipated in Q2, 2020, along with the
ongoing feasibility study.
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. The Las
Chispas Project consists of 28 mineral concessions, of which the Company has
100% ownership of where all the resources are located. 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 and drilling programs of
the Las Chispas Property, including construction of the Area 51 decline,
metallurgical test, 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 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; 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.
Figure 1: Las Chispas District Plan Map November 2019
Figure 2: Long Section (Inclined) of Babi Vista Vein Looking Southwest
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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