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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Las Chispas | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 6/12/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-6-2018: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Las Chispas deposit at the Las Chispas project. Drilling results incl. 2.0m @ 12.14g/t Au, 1440.3g/t Ag from 133.3m. Vancouver, British Columbia--(Newsfile Corp. - | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - June 12, 2018) - SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to announce new drill results for the Granaditas Vein and initial delineation of its high-grade footprint on the Las Chispas Property (the "Property") located in Sonora, Mexico. The Company first drilled two holes in the Granaditas Vein in 2017 (see news release dated October 19, 2017) and re-commenced drilling of this vein in early 2018. The compilation of these new drill holes outlines the high-grade footprint (see attached Figures). This vein is parallel to the Babicanora and Babicanora Norte veins and is approximately 400 metres southeast of Area 51, which is the highest-grade mineralized area of the Babicanora Vein having average resource grades greater than 1,000 grams per tonne ("gpt") silver equivalent ("AgEq", defined below). There are 23 known epithermal veins on the Property, including 11 which have drillintersected high-grade mineralization and consist of the Babicanora, Babicanora Footwall, 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, "With this confirmed discovery of continuous high-grade mineralization in the Granaditas Vein, we continue to increase our near-surface high-grade footprint in the district. In early 2017, the Company received from a local rancher a historic map showing the location of the Granaditas Mine that was operated by the Spanish in the early 1800's. Up until receipt of the map, the location of the mine was unknown and documented as a lost Spanish mine. Historic reports show that approximately 3 million ounces of silver were mined from the Granaditas Vein to a depth of 90 feet where water was encountered. SilverCrest drilled below this depth and intercepted high-grade mineralization using the same geologic controls as other high-grade veins in the district. It is our intention to further drill test the Granaditas, Babicanora Norte, Babicanora, Babi Sur, Luigi and other veins during the next couple of months and include the results in the proposed updated resource planned for Q3 2018." | |
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