#Mining Stock News:
#SilverCrest (TSX: $SIL.TO; NYSE: $SILV) Drilling Success Continues at Las
Chispas, Babi Vista Vein Takes Centre Stage, New Record Drill Hole: 1.7 Metres
Grading 635 gpt Au, 26,004 gpt Ag or 73,595 gpt AgEq; @SilverCrestMet
Read this news featuring SilverCrest in full at https://www.investorideas.com/CO/SILV/news/2020/08131Drilling-Success-Las-Chispas.asp
The expanded high-grade footprint for Babi Vista is
estimated at 800 metres along strike by an average 150 metres in height. The
weighted average (true width, uncut, undiluted) of these new results is 0.8
metres grading 58.25 gpt Au and 3,183.2 gpt Ag, or 7,552 gpt AgEq. The weighted
average is dominated by hole BV20-60 and when excluding this hole, the weighted
average is 0.8 metres grading 15.34 gpt Au and 1,507.7 gpt Ag, or 2,614 gpt
AgEq. With a total of 177 holes (53 holes pending assays) drilled to date, at
an approximate spacing of 35 metres, a majority of this mineralization is
anticipated to be included as indicated resources for the upcoming updated
resource estimation in the ongoing feasibility study. In addition to the Babi
Vista Vein drill results, the newly defined Babi Vista Hangingwall
("HW") and Footwall ("FW") veins were also intersected with
results presented in tables below. Both new veins (HW and FW) will be
considered for inclusion in the upcoming resource estimation.
N. Eric Fier, CPG, P.Eng, and CEO, remarked,
"After a few months shutdown due to COVID-19, we restarted in late May
with 8 drills focusing on in-fill and expansion of high-grade mineralization on
the Babi Vista Vein. Drill results to date have been better than expected with
25 holes out of 124 holes showing grades greater than 2,500 gpt AgEq with good
continuity. Since intercepting Babi Vista while driving the Santa Rosa decline,
we have systematically drill tested this vein which, although narrow, is
believed to be the most continuous with respect to multi-kilogram per tonne
AgEq intercepts for a vein to date on the Property. We have only partially
drill-tested a strike length of 800 metres of Babi Vista, which may have an
overall length of approximately 2,000 metres based on historic surface workings
along the projected strike of the vein. For the remaining part of the year, we
plan to continue drilling with 8 to 12 drills on Babi Vista and Babicanora Vein
northwest extension. We expect a steady flow of exploration drill results for
the rest of the year."
The most significant result for this release is
Hole BV20-60, which intersected 1.3 metres (estimated true width) grading
634.56 gpt Au and 26,003.6 gpt Ag, or 73,595 gpt AgEq. Also noteworthy are
holes BV20-53 at 4.4 metres grading 19.87 gpt Au and 2,995.9 gpt Ag, or 4,486
gpt AgEq and BV20-94 at 0.7 metres grading 85.40 gpt Au and 4,716 gpt Ag, or
11,121 gpt AgEq. The following table summarizes the most significant drill
intercepts (uncut, undiluted) for this release;
Babi Vista Vein
Babi Vista HW Vein
Babi Vista FW Vein
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.
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada, and Bureau Veritas
Inspectorate Ltd. in Hermosillo, Mexico.
Holes BV20-34, 44 to 45, 49, 54, 58, 59, 61, 63,
64, 67, 68, 70 to 72, 76, 79 7, 85, 88 to 89, 92 and UBV20-35 intersected
veining but were below the Company's cutoff grade of 150 gpt AgEq. Holes
BV20-80, 86 to 87, 90 to 91 and 93 to 136 have assays pending (see attached
Figures).
While drilling for the Babi Vista Vein, several
intercepts were made in unnamed veins, with the most significant results below:
·
BV20-51: 0.5 metre grading 17.5 gpt Au and 2,881.0
gpt Ag, or 4,194 gpt AgEq; and
·
BV20-83: 0.5 metres grading 4.64 gpt Au and 379.0
gpt Ag, or 727 gpt AgEq.
Further work is planned on these unnamed vein
intercepts for possible new vein discoveries.
There are currently eight (8) surface core drills
operating at Las Chispas. These drill rigs are completing further in-fill and
known vein expansion holes for the Babi Vista Vein and Babicanora Vein to the
northwest. Approximately 110 holes for 35,000 metres remain to be completed for
2020. An updated resource estimate is being completed along with the ongoing
feasibility study expected in Q4, 2020, provided there are minimum disruptions
due to COVID-19.
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 Property resulting
in numerous high-grade precious metal 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 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: impact of the COVID-19 pandemic; 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:
uncertainty as to the impact and duration of the COVID-19 pandemic; 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.
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
SilverCrest
Metals Inc. (TSXV: SIL.V; NYSE: SILV) is a featured company on Investorideas.com
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