SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) is pleased to announce expansion drill results for the Babi Vista Vein in the Babicanora Area of the Las Chispas Project located in the state of Sonora, Mexico. The drilling announced today has defined the initial high-grade footprint of the recently discovered Babi Vista Vein. These drill results show wider and higher-grade vein mineralization to depth, including hole BV19-03 with 8.8 metres (true width) grading 1,136 gpt AgEq. The 17 expansion drill holes released today are in addition to the five drill holes in the Babi Vista Vein previously announced on February 25, 2019. The initial high-grade footprint is approximately 200 metres high by 150 metres along vein strike, and open in most directions. Based on total drilling to date within the Babi Vista high-grade footprint, the initial estimated average true width and grade of the vein is 2.2 metres grading 4.70 grams per tonne gold and 401.1 gpt silver, or 753 gpt silver equivalent (“AgEq”, based on assumptions defined in the table below).
The most significant result for this release is Hole BV19-03, which intersected 8.8 metres (estimated true width) grading 7.36 gpt Au and 584.3 gpt Ag, or 1,136 gpt AgEq. Also noteworthy is hole BV19-04 at 6.6 metres grading 3.37 gpt Au and 249.8 gpt Ag, or 502 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release.
|Est. True Width
Note: All numbers are rounded. Based on a cutoff grade of 150 gpt AgEq.
* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.
**UBV defines underground drill hole.
***Variations in vein widths are typical for epithermal vein systems.
All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada. Holes UBV19-01, UBV19-04, UBV19-09 to 11, BV19-01, BV19-02 and BV19-05 intercepted veining, but were below the Company’s cutoff grade of 150 gpt AgEq.
Several unnamed veins were intersected while drilling the Babi Vista Vein with the following intercepts:
These unnamed vein intercepts add to the potential for further discoveries.
There are currently 17 core drills operating at Las Chispas; 16 surface and one underground. This includes, 13 rigs completing in-fill and vein expansion holes in the Babicanora Area known veins, and four rigs working on new vein targets and in-fill for the Las Chispas Area. Approximately 80 holes for 20,000 to 25,000 metres remain to be completed in 2019, of which 20 to 30 holes (3,000 metres) are for the Babi Vista Vein. Updated resource and maiden reserve estimates, potentially including Babi Vista, are anticipated in Q2, 2020, along with the ongoing feasibility study.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historic precious metal districts. The Company’s current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. The Las Chispas Project consists of 28 mineral concessions, of which the Company has 100% ownership of where all the resources are located. SilverCrest is the first company to successfully drill-test the historic Las Chispas Project resulting in numerous discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
Figure 1: Las Chispas District Plan Map November 2019
Figure 2: Long Section (Inclined) of Babi Vista Vein Looking Southwest
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