Vancouver, British Columbia--(Newsfile Corp. - December 27, 2017) - SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to announce additional Phase II drill results for the Las Chispas Property (the "Property") located in Sonora, Mexico. Infill drilling of the Babicanora Vein continues to intersect high-grade mineralization. With the latest results, SilverCrest has drill-tested and intersected high-grade mineralization for over 1,000 metres of strike length at the Babicanora Vein (see attached Figures). There are 19 known epithermal veins on the Property, including nine which have been drilled, and consist of the Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas and Amethyst veins. SilverCrest has intersected high-grade silver-gold mineralization in each of the nine veins drilled to date.
N. Eric Fier, CPG, P.Eng, President and CEO, remarked, "Our continued drilling of the Babicanora Vein has shown consistent high-grades along the drill-tested strike length of over one kilometer, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora Vein to test for further extensions by mid-January 2018 in anticipation of releasing a maiden resource estimate for the Las Chispas Property in February 2018."
The most significant result for this release was returned from Hole BA17-51, which intersected 3.1 metres (true thickness) grading 40.45 grams per tonne ("gpt") gold and 5,375.2 gpt silver or 8,409 gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) and 100% metallurgical recovery). Also noteworthy is Hole BA17-49 at 2.0 metres grading 18.20 gpt gold and 1,791.4 gpt silver, or 3,158 gpt AgEq and Hole BA17-46 at 1.2 metres grading 54.20 gpt gold and 2,020.7 gpt silver, or 6,086 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release:
| Hole No. | From (m) |
To (m) |
Drill Intercept (m) |
Est. True Thickness (m) |
Au gpt |
Ag gpt |
AgEq* gpt |
| BA17-46 | 6.5 | 8.1 | 1.6 | 1.2 | 54.20 | 2,020.7 | 6,086 |
| BA17-47 | 268.5 | 272.0 | 3.5 | 3.2 | 4.96 | 859.1 | 1,231 |
| incl. | 268.5 | 270.5 | 2.0 | 1.8 | 7.49 | 1,364.0 | 1,926 |
| BA17-48 | 289.8 | 293.2 | 3.4 | 3.1 | 6.82 | 343.1 | 855 |
| incl. | 289.8 | 290.7 | 0.9 | 0.7 | 15.90 | 112.2 | 1,310 |
| 324.2 | 325.8 | 1.6 | 1.4 | 5.10 | 438.8 | 821 | |
| BA17-49 | 305.0 | 305.9 | 0.9 | 0.8 | 0.05 | 229.0 | 233 |
| 324.3 | 326.5 | 2.2 | 2.0 | 18.20 | 1,791.4 | 3,158 | |
| incl. | 324.3 | 324.9 | 0.6 | 0.5 | 68.50 | 6,760.0 | 11,897 |
| BA17-50 | 313.3 | 318.7 | 5.4 | 5.0 | 1.95 | 265.2 | 411 |
| incl. | 313.9 | 315.3 | 1.4 | 1.2 | 4.18 | 213.1 | 527 |
| BA17-51 | 265.9 | 269.2 | 3.3 | 3.1 | 40.45 | 5,375.2 | 8,409 |
| incl. | 267.4 | 268.7 | 1.3 | 1.1 | 96.30 | 12,773.5 | 19,996 |
Note: all numbers are rounded.
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill holes BA17-44 and 45 intercepted anomalous mineralization, but are below the Company's 150 gpt AgEq cutoff.
Holes BA17-46, 48 and 49 intercepted bonanza grades in the Babicanora Footwall Vein. Hole BA17-51 intercepted bonanza grades consisting of coarse argentite, electrum, native silver and gold.
The Company plans to continue with step-out and infill drilling consisting of an additional 10 to 15 surface holes on the Babicanora Vein and ongoing underground drilling on the Las Chispas and Giovanni veins. Furthermore, the Company continues to collect trench samples from the surface dumps. The Company anticipates concluding its expanded Phase II program by mid-January 2018 in time for results to be incorporated into the maiden resource estimate in February 2018.
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 President 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.
