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SilverCrest Metals Inc.
Summary
| Project: | Las Chispas | |
|---|---|---|
| Deposit: | Luigi | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 4/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-4-2018: SilverCrest Metals Inc. announces an Exploration/Drilling Update report for its Luigi deposit at the Las Chispas project. Drilling results incl. 1.5m @ 13.22g/t Au, 2006.7g/t Ag from 243.0m. Vancouver, British Columbia- (Newsfile Corp. - April | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Eric Fier (Internal) | |
| ABSTRACT: | Vancouver, British Columbia- (Newsfile Corp. - April 17, 2018) - SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to announce drill results from the Luigi Vein on the Las Chispas Property (the "Property") located in Sonora, Mexico. SilverCrest discovered the Luigi Vein in the footwall of the Las Chispas Vein in mid-2017 but it remained un-named until the Company completed enough drilling to delineate an actual mineral vein. Several of the announced holes in this release were previously disclosed as an un-named vein. There are 23 known epithermal veins on the Property. The Company has tested ten (10) of these 23 veins (the Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas, Luigi and Amethyst veins), all of which have drill-intersected high-grade mineralization. The Luigi Vein was not included in the recently announced maiden resource (refer to the Company's news release dated February 26, 2018). N. Eric Fier, CPG, P.Eng and CEO, remarked, "With the addition of the Luigi Vein, we continue to grow our portfolio of highgrade mineralized veins and are beginning to understand the "nature of multiples" when it comes to projecting high-grade previous drill-intercepts in adjacent veins on to new discoveries. This is the tenth high-grade vein we have delineated in the district, which is immediately adjacent to the Las Chispas Vein and accessible by underground workings. The Luigi Vein is named after Luigi Pedrazzini, son of Giovanni Pedrazzini the founder of Minas Pedrazzini Gold and Silver Mining Company which operated at the Property from the late 1800s to 1930. We plan to further drill test the Luigi Vein during H1 2018 and include the results in the proposed updated resources inQ3 2018." The most significant result for this release occurred in Hole LC17-65, which intersected 1.4 metres (true width) grading 13.22 grams per tonne ("gpt") gold and 2,006.7 gpt silver, or 2,999 gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) and 100% metallurgical recovery). Also noteworthy is Hole LC17-45 which intersected 4.1 metres grading 1.71 gpt gold and 231.8 gpt silver, or 360 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for the Luigi Vein: | |
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