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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Las Chispas | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/9/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-10-2019: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Las Chispas deposit at the Las Chispas project. Drilling results incl. 1.9m @ 8.99g/t Au, 1424.0g/t Ag from 305.5m. Vancouver, British Columbia--(Newsfile Corp. - O | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: N. Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - October 9, 2019) - SilverCrest Metals Inc. (TSX: SIL) (NYSEAmerican: SILV) ("SilverCrest" or the "Company") is pleased to announce expansion drill results for three veins (Giovanni, La Blanquita and Las Chispas) and the discovery of a new vein, La Blanquita Dos, in the Las Chispas Area of the Las Chispas Project ("Las Chispas") located in the state of Sonora, Mexico. The drilling announced today has expanded the high-grade footprints of several veins in the Las Chispas Area (see attached Figures). These multi-vein results show deeper mineralization which could expand the current resource estimate. The 31 expansion drill holes released today are in addition to the 105 drill holes in the Las Chispas Area previously announced and used in the technical report titled "Technical Report and Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico", dated effective May 15, 2019, as amended July 19, 2019 (the "PEA"). The PEA is available on SEDAR (www.sedar.com) and on the Company's website (www.silvercrestmetals.com). N. Eric Fier, CPG, P.Eng, and CEO, remarked, "While the veins in the Las Chispas Area are usually overshadowed by the exceptional high-grades of the Babicanora Area veins, these results have established the potential to expand and improve the average grade of the resources for the Las Chispas Area veins. New drill results from deeper intercepts in the Giovanni Vein are particularly impressive with an average grade of 1,084 gpt AgEq or over three times the average grade of 349 gpt AgEq used in the current Giovanni resource estimate. Drilling completed since the February 2019 resource estimate suggests that these highgrade veins extend to depth, down plunge and are open for further expansion. With the Babicanora Area in-fill drilling nearing completion, and based on success of expansion drilling in the Las Chispas Area, we will be re-allocating three drills for an additional 8,000 metres of drilling inQ4, 2019. With further success, the deeper multi-vein mineralization in the Las Chispas Area may develop into a new higher-grade source of potential production later in the mine life. With continued exploration success and over 100 drill holes in the lab being assayed, the Company looks forward to providing further updates in the coming months." | |
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