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SilverCrest Metals update on Las Chispas Property located in Sonora, Mexico

Mining News - Published on Fri, 11 Jan 2019

Image Source: PR Newswire
SilverCrest Metals Inc announced further Phase III in-fill drill results for the Las Chispas Property located in Sonora, Mexico. The current drill program is designed to increase resources through expansion drilling and improve confidence in the resource with closely spaced in-fill drilling in the Babicanora Vein. The 20 reported in-fill holes in this release were targeting mineralization in the high-grade Area 51 zone (13 holes), Babicanora Central zone (7 holes), and Babicanora Footwall and Hangingwall veins which were drilled while targeting other zones. Combined with the 19 in-fill drill results previously reported on November 1, 2018 and December 13, 2018, the in-fill drilling program has returned very positive results. A total of 39 in-fill holes have been completed with 28 holes in the Area 51 zone. The weighted average (true width, uncut, undiluted) of the 28 in-fill holes from Area 51 is 3.9 metres grading 11.36 gpt gold and 1,064.1 gpt silver, or 1,915 gpt silver equivalent. For comparison, in the September 13, 2018 resource estimate, Area 51 had an estimated weighted average true width of 2.7 metres, grading 7.13 gpt gold and 614 gpt silver or 1,148 gpt AgEq. Hole BA18-122 intersected and expanded high-grade mineralization in Area 51’s “Shoot 43” returning an impressive 9.3-metre wide intercept grading 6,336 gpt AgEq compared to previously modelled narrower mineralization in this area, which had averaged 3 metres in true width (see attached Figures).

N. Eric Fier, CPG, P.Eng, and CEO, remarked, “Drill Hole BA18-122 is for the record books with 9.3 metres (true width) grading 6,336 gpt AgEq (84.5 gpt AuEq). Further positive results from closely spaced in-fill drilling continue to confirm the continuity of high-grade mineralization in the Babicanora Vein, including Area 51 and Babicanora Central zones, as well as the Babicanora FW and HW veins. Additional drill holes in Area 51 are indicating wider mineralized thicknesses in several areas than previously modelled and are identifying discrete multi-kilogram per tonne silver equivalent mineralized shoots (Shoots 43 and 51). These additional core holes are critical to both in-fill confirmation and potential expansion of resources in the Babicanora veins. This is a great way to start the New Year as we continue to improve our confidence and add ounces in Area 51, hunt for new discoveries on the additional 22 known veins not in the September 2018 resource estimate, compile the new drill results for the next updated resource, and advance the Las Chispas Preliminary Economic Assessment.”

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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