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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Las Chispas | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 5/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-5-2018: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Las Chispas deposit at the Las Chispas project. Drilling results incl. 1.5m @ 23.96g/t Au, 2081g/t Ag from 101.6m. Vancouver, British Columbia--(Newsfile Corp. - Ma | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to announce the drill results and discovery of the Babicanora Norte Vein on the Las Chispas Property (the "Property") located in Sonora, Mexico. The high-grade Babicanora Norte Vein was discovered while drilltesting beneath recently located shallow historic workings (see attached Figures). This vein is approximately 300 metres northeast of the parallel Babicanora Vein. 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 discovery of the Babicanora Norte Vein, we continue to show the increased potential for more near-surface high-grade mineralized veins. This is now the 11 th high-grade vein we have discovered in the district. This vein is located adjacent and parallel to the Babicanora Vein which contains a majority of the maiden resource estimate. We recently identified this untested vein and strategically drilled it for high-grades which were discovered in our second drill hole (BAN18-02, intercepting 1.5 metres grading 9.11 gpt gold and 1,033.3 gpt silver, or 1,716 gpt AgEq*). This successful strategy required projecting the known high-grade footprint of the adjacent Babicanora Vein along with geologic constraints to the untested Babicanora Norte Vein. With six drills currently operating, we continue to aggressively drill-test the Babicanora Norte Vein and several other untested veins using the model of "Nature of Multiples"; that is, find one high-grade footprint in a vein and apply the same controls to the next nearby vein." The most significant result for this release was returned from Hole BAN18-06, which intersected 1.5 metres (true width) grading 23.96 grams per tonne ("gpt") gold and 2,081.0 gpt silver, or 3,879 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), including 0.5 metres grading 11,615 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release | |
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