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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Las Chispas | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 9/14/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-9-2016: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Las Chispas deposit at the Las Chispas project. Drilling results incl. 1.0m @ 1.55g/t Au, 706.0g/t Ag (822.2g/t AgEq.) from 80.0m. VANCOUVER, Sept. 14, 2016 /CNW/ - | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James Barr (Independent) | |
| ABSTRACT: | VANCOUVER, Sept. 14, 2016 /CNW/ - SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce the results of the remaining drill holes from Phase I drilling for the Las Chispas Project. The Las Chispas Project ("Las Chispas") is located in Sonora State, Mexico and is in a historic silver-gold mining district which presently hosts two nearby precious metal producers. Historic information indicates that of the fourteen historically reported veins at Las Chispas, only three veins, the Las Chispas, William Tell and Babicanora, had documented production, which occurred between 1880 and 1930. SilverCrest's initial focus is on these three veins. To the Company's knowledge, none of the known veins have been drilled prior to the Company's Phase I drill campaign. For more information, please refer to our website at www.silvercrestmetals.com. Dunham Craig, P.Geo., Interim CEO remarked, "The remaining drill hole results from the Phase I drill program intercepted the Las Chispas vein which has further demonstrated continuity of high grades and potential mineable thicknesses. Phase II exploration work will continue to define the Las Chispas vein for resource estimation expected in H1 2017. As we continue to systematically explore this district-wide discovery with multiple undrilled epithermal veins, we could potentially have several more discoveries. The Babicanora area (no previous drilling), immediately adjacent to Las Chispas and William Tell veins, is considered the largest target in the district and will be tested in Phase II exploration." The most substantial core drilling results from the remainder of the Phase 1 holes are 1.0 metreswide grading 1.55 gramsper tonne ("gpt") gold ("Au") and 706.0 gpt silver ("Ag"), or 822.2 gpt silver equivalent ("AgEq"* uncut, undiluted, see attached Figure). The following table summarizes the most significant drill assay results (uncut, undiluted) for the Las Chispas vein only. | |
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