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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Babi Sur Vein | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 8/28/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-8-2019: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Babi Sur Vein deposit at the Las Chispas project. Drilling results incl. 10.3m @ 3.09g/t Au, 304.6g/t Ag from 289.5m. 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. - August 28, 2019) - SilverCrest Metals Inc. (TSXV:SIL) (NYSEAmerican:SILV) ("SilverCrest" or the "Company") is pleased to announce initial in-fill and additional expansion drill results from the Babi Sur Vein ("Babi Sur") of the Las Chispas Project ("Las Chispas") located in the state of Sonora, Mexico. In-fill drilling has increased the confidence of resources and high-grade continuity in the vein. Expansion drilling has increased the high-grade footprint for possible additional resources (see attached Figures). The 33 drill holes released today (23 in-fill and 10 expansion) are in addition to the 39 drill holes previously announced on February 14, 2019, and used in the technical report titled "Technical Report and Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico", dated effective May 15, 2019, as amended July 19, 2019 (the "PEA"). The PEA is available on SEDAR (www.sedar.com) and the Company's website (www.silvercrestmetals.com). The Babi Sur Vein, as defined in the PEA includes 39 drill holes, and 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 gpt silver (or "Ag"), or 575 gpt silver equivalent ("AgEq", based on assumptions defined in table below) over a discontinuous (4 discrete zones) mineralized length of 1,200 metres (see attached Figures). The Babi Sur drill holes announced in this release have a weighted average true width of 2.3 metres grading 3.36 gpt Au and 282.5 gpt Ag, or 534 gpt AgEq (uncut) with hole intercepts distributed along the same estimated mineralized length as presented in the PEA. These new drill results suggest an increase in true width of between 1 to 2 metres, from 0.95 metres, and confirm the estimated overall grade of 534 to 575 gpt AgEq. In-fill drilling is also suggesting better continuity between the discrete zones delineated in the most recent resource estimate, with potential to reduce the required underground development to access these areas of the vein. In addition, drilling has established further high-grade mineralization intersected to depth and down plunge. While drilling the Babi Sur Vein, the Babi Sur HW Vein was intercepted along with other unknown vein intercepts, with the results presented in the tables below. | |
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