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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Babicanora | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 7/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-7-2018: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Babicanora deposit at the Las Chispas project. Drilling results incl. 2.5m @ 61.36g/t Au, 2833.5g/t Ag from 93.0m. VANCOUVER, BC – July 24, 2018 ‐ SilverCrest Metal | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | VANCOUVER, BC – July 24, 2018 ‐ SilverCrest Metals Inc. (“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 Norte Vein, since the Company’s news release on May 29, 2018, announcing the discovery of this vein, has intersected additional high‐ grade silver‐gold mineralization (see attached Figures). The Babicanora Norte Vein is parallel to the Babicanora Vein and approximately 300 metres northeast. The vein appears to connect with the Granaditas area, which has multiple drill‐tested veins to the southeast. We are increasing the number of identified epithermal veins on the Property to 30 from 23 (see attached Figures). Eleven (11) of these veins have been partially drilled and intersected high‐grade silver‐gold mineralization, including the Babicanora, Babicanora FW, Babicanora Norte, Las Chispas, Giovanni, which includes La Blanquita, William Tell, Varela, Granaditas, Luigi and Amethyst veins. Five of the 30 veins were included in the maiden resource (see “Technical Report and Mineral Resource Estimate for the Las Chispas Property, Sonora, Mexico”, effective February 12, 2018, and amended May 9, 2018 (the “Technical Report and MRE”)). N. Eric Fier, CPG, P.Eng, and CEO, remarked, “We continue with our successful Phase III expansion drill program with further high‐grade silver‐gold intercepts in multiple veins at Las Chispas. This most recent drilling of the Babicanora Norte Vein intercepted native silver, silver oxides, and fine‐grained free gold in several holes along an estimated strike length of 900 metres, expanded from the previous 200 metres. We now have identified 30 epithermal veins on the Property with a total cumulative strike length of approximately 20 kilometres, of which 5 kilometres have been partially drilled and only 3.5 kilometres were included in the maiden resource. We are currently step‐out drilling with nine core rigs at the Babicanora Norte, Granaditas, Luigi and Babicanora veins, including the Area 51 southeast extension. We are systematically working towards an updated resource in Q3, 2018.” | |
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