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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Babi Sur Vein | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 1/20/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-1-2020: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Babi Sur Vein deposit at the Las Chispas project. Drilling results incl. 3.3m @ 90.98g/t Au, 108.2g/t Ag from 120.8m. Vancouver, British Columbia--(Newsfile Corp. - | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: N. Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - January 20, 2020) - SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce additional in-fill and expansion drill results from the Babi Sur Vein ("Babi Sur", or the "Vein") of the Las Chispas Project ("Las Chispas") located in the state of Sonora, Mexico. In-fill and expansion drilling has increased the Company's confidence of wider and higher-grade continuity of mineralization for the Babi Sur Vein. Expansion drilling has also increased the high-grade mineralized footprint of the Vein (please see attached Figures). The 71 drill holes released today (85% in-fill for resource conversion and 15% expansion) are in addition to the 33 drill holes previously announced on August 28, 2019. Since the release of the March 2019 Resource Estimate, an additional 104 drill holes have been completed in the Babi Sur Vein. The Vein has a total of 140 drill holes which will be used in an updated resource and initial reserve estimate as part of the ongoing Feasibility Study to be released in late H1, 2020. The current resource estimate for the Babi Sur Vein is inferred resources only with ongoing in-fill drilling for conversion to measured and indicated resources. The Vein has a modelled average vein width (true) of 0.95 metres and cut diluted grade of 4.10 grams per tonne ("gpt") gold (or "Au") and 268.1 gpt silver (or "Ag"), or 575 gpt silver equivalent ("AgEq", based on assumptions defined in table below). The Babi Sur drill holes within the revised high grade footprint announced in this release have a weighted average estimated true width of 1.7 metres grading 9.82 gpt Au and 382.5 gpt Ag, or 1,119 gpt AgEq (uncut undiluted), with hole intercepts distributed along the same estimated mineralized length as presented in the Technical Report and Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico effective May 15, 2019 and as amended on July 19, 2019. These new drill results, combined with previously released results in August 2019, suggests that the vein's true width is wider than previously estimated from 0.95 metres up to 1.4 to 1.7 metres, with an average grade above 750 gpt AgEq. In-fill drilling has also connected several discrete zones previously delineated, establishing better vein continuity, which should reduce underground development costs to access and mine the Vein. While drilling the Babi Sur Vein, the Babi Sur HW Vein was intercepted along with multiple other previously unknown vein intercepts, with these results presented in the tables below. | |
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