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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Babicanora Vein | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 3/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-3-2017: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Babicanora Vein deposit at the Las Chispas project. Drilling results incl. 6.8m @ 4.84g/t Au, 383g/t Ag from 7.7m. SilverCrest Metals Inc. ("SilverCrest" or the "Com | |
| Resources: | x | |
| CP/QP: | [Overall Report]: N. Eric Fier (Internal) | |
| ABSTRACT: | SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce its first drill hole results for the Babicanora Vein within the Las Chispas Property (the "Property") located in Sonora, Mexico. As part of the Company's Phase II Exploration Program, underground drilling at the Babicanora Vein is testing the historic silver-gold mine (see attached Photos and Figures). In the 1800s, the Babicanora historic mine (the "Mine") was considered the largest precious metal producer in the region. The Mine began operations around 1790 by Spanish operators, with intermittent production up to 1935. By the late 1800s, historic public records show that production for the Mine was approximately 80 million ounces of silver and an unknown amount of gold. As with the three other veins currently being explored by the Company (Las Chispas, William Tell and Varela veins), the Babicanora Vein had not been previously drilled. N. Eric Fier, CPG, P.Eng, President & CEO remarked, "We expected the area drilled to be mostly mined out and are very pleased to discover that much of the mineralization in this area is intact. The initial drill hole results at the Babicanora Vein suggests high-grade mineralization and a continuous, well-defined mineralized vein and structure that averages over four metres in true thickness. We have been able to trace the Babicanora Vein, on surface and underground, for over one kilometre within an altered and mineralized trend that is over 2.5 kilometres long and 1 kilometre wide. Underground access to this vein is via a 230-metre long 4 by 4 metre horizontal adit (see attached Photo), which was driven by a French company during the 1860s. We are drilling the Babicanora Vein from the face of this adit, and are encountering high grade drill intercepts within 8 to 33 metres of the adit." | |
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