Vancouver, British Columbia–(Newsfile Corp. – September 15, 2017) – SilverCrest Metals (TSXV: SIL) (OTCQX: SVCMF) has announced additional Phase II drill results for the Las Chispas Property, which is located in Sonora, Mexico. These additional drill results indicate expansion of high-grade silver-gold mineralization for the Babicanora Vein from previously announced results.
The company is currently exploring 7 of the 19 known epithermal veins on the property, including the Chispas, Giovanni, William Tell, Varela, La Blanquita, Granaditas, and Babicanora veins.
Additional Phase II drill results are anticipated over the next several months, including potential further expansion of the Babicanora Vein.
N. Eric Fier, CPG, P.Eng., President & CEO stated: “Step out drilling along the strike of the Babicanora Vein has more than tripled our previously announced high-grade footprint. New high-grade drill intercepts confirm strong mineralization extending beyond the historic Babicanora workings. We have been able to trace the Babicanora Vein on surface for over three kilometres, but have drill-tested less than 20% of its known strike length. Based on continued success in the district, we plan to have up to six drills turning this fall, aiming to further expand high-grade mineralization along multiple veins in both the Babicanora and the Las Chispas areas. All of our current efforts are focused o n a maiden resource announcement in early 2018.”
The most significant result is an intercept in Hole BA17-07 of 4.8 metres grading 4.63 grams per tonne gold and 250.9 grams per tonne silver, or 598 grams per tonne silver equivalent, based on a ratio of 75 to 1 silver to gold. Also noteworthy is Hole UB17-11 with an intercept of 3.7 metres grading 2.58 grams per tonne gold and 332.6 grams per tonne silver, or 526 grams per tonne silver equivalent, which intercepted the Babicanora Vein approximately 75 metres below historic workings.
This table summarizes the most significant drill intercepts in the Babicanora Vein only.
|Estimated True Thickness
All holes that have been drilled but not yet assayed have intercepted quartz veining stockwork and breccia. The nearby parallel Babicanora footwall Vein is becoming more defined. The company also intersected several other unnamed veins near the Babicanora Vein. The revised footprint of the Babicanora Vein is now approximately 500 metres long by 150 to 175 metres high, and is open in several directions.
During early 2018, the company plans to provide a maiden resource estimation for the property.
The shares are trading at $1.44 and with 49.7 million shares outstanding, the company is capitalized at $71.6 million.
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