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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Las Chispas and Giovanni Veins | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 11/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-11-2019: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Las Chispas and Giovanni Veins deposit at the Las Chispas project. Drilling results incl. 10.8m @ 44.30g/t Au, 4551.3g/t Ag from 303.7m. Vancouver, British Columbi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: N. Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - November 21, 2019) - SilverCrest Metals Inc. (TSX:SIL) (NYSEAmerican:SILV) ("SilverCrest" or the "Company") is pleased to announce additional expansion drill results for the Las Chispas Property (the "Property") located in Sonora, Mexico. The current drill program on the Las Chispas and Giovanni veins is designed to expand high-grade precious metal mineralization by stepping out from historic underground workings along the down plunging mineralized trend towards intact and previously unmined areas (see attached Figures). Today's release includes results for six new holes and 17 previously announced holes totaling 23 holes. Thirteen of these 23 holes establish an initial high-grade footprint for this newly defined high-grade zone within a lower horizon of the Las Chispas and Giovanni veins. Hole LC19-118 establishes a new record for the Property returning 8.6 metres grading 7,873 gpt AgEq. This result is particularly impressive given that it is the first intercept of this magnitude returned from the Las Chispas Area, and it is outside the current resource estimate (see 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 the Company's website (www.silvercrestmetals.com). This newly defined high-grade zone has been named Area 118 zone ("Area 118") after the discovery hole LC19-118. The approximate high-grade footprint of Area 118 is 300 metres along strike by 125 metres in height and includes two adjacent and intersecting veins, Las Chispas and Giovanni. The weighted average (true width, uncut and undiluted grades) of the defined initial high-grade footprint in this zone is 1.6 metres grading 16.54 gpt gold (or "Au") and 1,837.3 gpt silver (or "Ag"), or 3,078 gpt silver equivalent ("AgEq", based on assumptions defined in table below). The weighted average of these 13 holes (see table below) is dominated by discovery hole LC19-118, and in-fill drilling is required to fully understand the estimated widths and grades of this zone. Previously, hole BA18-122 in the Babicanora Area was the best intercept on the Property returning an impressive 9.3-metre wide (true width) intercept grading 6,336 gpt AgEq (see news release date January 9, 2019). Despite a limited amount of exploration work done in Area 118 to date, these results outline the potential to delineate a new high-grade resource. | |
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