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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Babicanora | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 7/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-7-2018: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Babicanora deposit at the Las Chispas project. Drilling results incl. 1.9m @ 54.59g/t Au, 6534.9g/t Ag from 285.2m. SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCM | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to announce further Phase III drill results for the Las Chispas Property (the "Property") located in Sonora, Mexico. Step out drilling of the Babicanora Footwall ("FW") Vein has intersected additional high-grade mineralization (see attached Figures). The Babicanora FW Vein is subparallel to the Babicanora Vein. This vein is approximately 30 metres north of the Babicanora Vein in the northwestern part of the area and appears to intersect the Babicanora Vein near Area 51. There are 23 identified epithermal veins on the Property, including 11 which have drill-intersected high-grade mineralization consisting of the Babicanora, Babicanora FW, Babicanora Norte, Las Chispas, Giovanni including La Blanquita, William Tell, Varela, Granaditas, Luigi and Amethyst veins. Five of the 23 veins have been included in the maiden resource (refer to "Technical Report and Mineral Resource Estimate for the Las Chispas Property, Sonora, Mexico", effective February 12, 2018 and amended May 9, 2018). N. Eric Fier, CPG, P.Eng, and CEO, remarked, "We continue to be successful with our expansion drilling program with further high-grade intercepts in multiple veins at Las Chispas. This most recent drilling of the Babicanora FW Vein has intercepted high-grade precious metal mineralization along a drill-tested strike length of 250 metres, expanded from the previous 150 metres. We are currently step out drilling with nine core rigs at the Babicanora Norte, Granaditas, Luigi and Babicanora veins including Area 51 southeast extension that has been recently permitted for work. We are systematically working towards an updated resource for Q3, 2018." The most significant result for this release was returned from Hole BA18-83, which intersected 1.5 metres (true width) grading 54.59 grams per tonne ("gpt") gold and 6,534.9 gpt silver, or 10,629 gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold). Also noteworthy is Hole BA18-85 at 2.5 metres grading 6.04 gpt gold and 368.8 gpt silver, or 822 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release. | |
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