The Prospector News

SilverCrest Announces High-Grade Drill Results on Multiple Veins in the Babicanora Area

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

SilverCrest Announces High-Grade Drill Results on Multiple Veins in the Babicanora Area

 

 

 

 

 

  • 2.3m (ETW) Grading 87.05 gpt Au and 6,469.2 gpt Ag, or 14,034 gpt AgEq
  • 3.7m (ETW) Grading 40.42 gpt Au and 6,089.4 gpt Ag, or 9,602 gpt AgEq

 

SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) is pleased to announce additional in-fill and expansion drill results from the Babi Vista Vein Splay, Babi Vista Vein, Granaditas 1 Vein, Granaditas 2 Vein, and adjacent hangingwall and footwall veins in the Babicanora Area of its Las Chispas Project located in Sonora, Mexico (see following Tables and attached Figures).

 

Highlights

 

  • In-fill and expansion drill results being reported in this news release represent an additional 78 holes, totaling approximately 29,308 metres completed since the latest news release for Babi Vista, Splay and Granaditas veins.
  • Results are in areas with mineral resources (see Feasibility Studyi announced on February 2, 2021) and in close proximity to planned underground development.
  • Confirmed southeastern vein continuity and convergence of the Babi Vista, Splay and Granaditas veins. Mineral resources, together with exploration high-grade footprints, can now be traced for an estimated 1.3 kilometres of vein strike length.
  • The latest 31 drill holes within the high-grade footprint of the Splay have an average estimated true width (“ETW”) of 0.91 metres grading 16.12 grams per tonne (“gpt”) gold (“Au”) and 1,351.5 gpt silver (“Ag”), or 2,752 gpt silver equivalent (“AgEq”, 86.9:1 Au:Ag ratio, see note below tables). This compares to the Splay’s Inferred Mineral Resource that contains 13.9 million AgEq ounces within 211,363 tonnes grading 13.00 gpt Au and 909.4 gpt Ag, or 2,039 gpt AgEq with an ETW of 1.27 metres.
  • The seven (7) mineralized drill holes in the Granaditas 1 Vein, included in this release, have an average ETW of 1.57 metres grading 19.24 gpt Au and 5,095.1 gpt Ag, or 6,767 gpt AgEq. This compares to the vein’s Inferred Mineral Resource that contains 1.1 million AgEq ounces within 63,157 tonnes grading 3.20 gpt Au and 260.0 gpt Ag, or 538 gpt AgEq with an ETW of 0.61 metres.
  • Significant drilling results:
    • Splay – Hole BV21-252 intercepted an ETW of 2.27 metres grading 87.05 gpt Au and 6,469.2 gpt Ag, or 14,034 gpt AgEq;
    • Granaditas 1 Vein – Hole BV20-221 intercepted an ETW of 3.65 metres grading 40.42 gpt Au and 6,089.4 gpt Ag or 9,602 gpt AgEq; and
    • Granaditas 1 Vein – Hole GR21-28 intercepted an ETW of 0.40 metres grading 114.00 gpt Au and 78,872.0 gpt Ag, or 88,779 gpt AgEq.
  • Approximately 90% of the planned 2021 in-fill drilling has been completed for the Splay.
  • Discovery of two additional “blind” veins in the hangingwall and footwall of Babi Vista and Splay.
  • Nine drill rigs (6 surface core drills at Las Chispas and 3 at Picacho) are operating as part of the Company’s 2021 exploration and optimization program.

 

The Company’s current focus at Las Chispas is to in-fill (for resource conversion) and potentially expand the existing mineralized footprints in areas close to planned underground development. Currently, priority drilling is active at the Splay and Granaditas veins which host Inferred Mineral Resources that were not included in the Feasibility Study mine plan. The Feasibility Study outlines planned underground development which terminates within approximately 180 metres of high-grade drilling intercepts in the Splay, making this a priority target area for resource conversion to reserves. The results from the 2021 drill program will provide valuable information when evaluating potential opportunities to optimize the initial years of the proposed Las Chispas production profile. The in-fill drilling program at the Splay is estimated to be completed by the end of Q2 2021.

 

  1. Eric Fier, CPG, P.Eng, and CEO, remarked, “We are very encouraged by the results from the Babi Vista and Granaditas areas, including the Babi Vista Vein Splay, which support our goal to target potential resource conversion proximal to planned and existing underground workings. Our systematic and aggressive approach to exploration continues to yield positive drill results in areas outside of the mine plan and further improves our knowledge of Las Chispas geology and mineralization. The primary aim of our 2021 program will be to grow the Mineral Resources and Reserves and complete optimization work to support further enhancements to the already robust economics of the Las Chispas Project. Additional Reserves increase the potential for optimization of the mine plan and allow us to further study the Project’s production throughput and mine life expansion.”

 

The following tables summarize all the significant drill intercepts (uncapped, undiluted) for this release:

 

Babi Vista Vein Splay

 

Hole ID From (m) To (m) Drilled

Intercept

(m)

 

Approx.

True

Thickness

(m)

Au

gpt

Ag gpt AgEq

gpt*

BV20-227 307.05 308.20 1.15 0.92 24.75 2,003.7 4,155
Incl. 307.60 308.20 0.60 0.48 35.80 3,010.0 6,121
BV20-229 294.00 294.50 0.50 0.40 33.70 3,320.0 6,249
BV20-231A§ 317.00 318.00 1.00 0.80 2.78 357.0 599
BV20-234 352.55 355.55 3.00 2.40 8.94 1,011.0 1,788
Incl. 355.05 355.55 0.50 0.40 47.90 5,520.0 9,683
BV20-235 338.85 342.60 3.75 3.00 2.36 219.6 424
Incl. 342.10 342.60 0.50 0.40 7.26 702.0 1,247
BV20-237 320.50 321.15 0.65 0.52 19.45 1,465.0 3,155
BV20-238 354.50 356.60 2.10 1.68 5.30 591.2 1,052
BV20-240 309.93 311.40 1.47 1.18 18.10 1,330.0 2,903
BV20-241 334.15 335.27 1.12 0.90 1.51 152.0 283
BV20-242 282.37 282.94 0.57 0.46 3.58 496.0 807
BV20-243 314.22 315.23 1.01 0.81 3.92 350.0 691
BV20-244 323.55 327.25 3.70 2.96 1.40 214.6 336
BV20-248 289.80 290.30 0.50 0.40 5.58 484.0 969
BV21-250 280.69 281.41 0.72 0.58 1.23 97.0 204
BV21-251 364.50 365.40 0.90 0.72 5.26 348.0 805
BV21-252 335.26 338.10 2.84 2.27 87.05 6,469.2 14,034
Incl. 335.80 337.10 1.30 1.04 185.65 13,958.6 30,092
BV21-257 368.64 369.70 1.06 0.85 61.40 6,040.0 11,376
BV21-258 329.42 330.00 0.58 0.46 0.84 103.0 176
BV21-259 393.75 394.25 0.50 0.40 17.95 1,500.0 3,060
BV21-261 376.46 376.96 0.50 0.40 34.50 2,140.0 5,138
BV21-262 289.28 291.05 1.77 1.42 6.10 659.2 1,189
BV21-264 395.50 396.00 0.50 0.40 2.57 125.0 348
BV21-266 271.10 271.80 0.70 0.56 4.15 530.0 891
BV21-267 276.40 276.90 0.50 0.40 5.01 581.0 1,016
BV21-268 345.85 346.71 0.86 0.69 3.41 236.0 532
BV21-269 392.44 392.94 0.50 0.40 15.90 1,145.0 2,527
BV21-270 280.85 281.40 0.55 0.44 2.94 374.0 629
BV21-274 405.75 406.25 0.50 0.40 56.90 3,850.0 8,795
BV21-276 264.90 265.45 0.55 0.44 5.24 668.0 1,123
BV21-284 381.14 381.75 0.61 0.49 19.85 1,970.0 3,695
BV21-287 279.70 280.30 0.60 0.48 0.94 134.0 216
Weighted Average 1.16 0.91 16.12 1,351.5 2,752

 

 

Babi Vista Footwall and Granaditas 1

 

Hole ID From

(m)

To (m) Drilled

Intercept

(m)

 

Approx.

True

Thickness

(m)

Au

gpt

Ag gpt AgEq gpt* Vein
BV20-221 170.50 175.06 4.56 3.65 40.42 6,089.4 9,602 Granaditas 1
Incl. 171.00 171.83 0.83 0.66 80.00 6,970.0 13,922 Babi Vista FW
Incl. 172.43 174.05 1.62 1.30 66.20 11,685.0 17,438 Babi Vista FW
BV20-222 106.12 108.10 1.98 1.58 2.08 216.4 398 Granaditas 1
BV20-231A§ 237.61 238.20 0.59 0.47 0.92 85.2 165 Babi Vista FW
BV20-232 261.55 262.05 0.50 0.40 7.17 1,155.0 1,778 Babi Vista FW
BV20-241 256.70 257.30 0.60 0.48 1.57 185.0 321 Babi Vista FW
BV20-244 252.30 252.80 0.50 0.40 5.68 838.0 1,332 Babi Vista FW
BV21-264 349.00 349.50 0.50 0.40 3.02 245.0 507 Babi Vista FW
BV21-273 397.00 397.50 0.50 0.40 1.38 92.7 213 Babi Vista FW
BV21-281 360.80 361.30 0.50 0.40 1.92 177.0 344 Babi Vista FW
GR21-24 119.7 121.50 1.80 1.44 4.60 530.9 931 Granaditas 1
Incl. 121.00 121.50 0.50 0.40 13.65 1,460.0 2,646 Babi Vista FW
GR21-25 138.00 140.15 2.15 1.72 2.61 386.0 613 Granaditas 1
GR21-26 152.47 153.19 0.72 0.58 1.13 134.0 232 Granaditas 1
GR21-27 258.80 260.80 2.00 1.60 1.82 169.3 327 Granaditas 1
GR21-28 141.72 142.22 0.50 0.40 114.00 78,872.0 88,779 Granaditas 1
Weighted Average 1.24 0.99 15.80 4,095.9 5,469
Weighted Average w/o GR21-28 1.30 1.04 12.89 1,883.6 3,004

 

 

Babi Vista and Granaditas 2 Vein

 

Hole ID From

(m)

To (m) Drilled

Intercept

(m)

 

Approx.

True

Thickness

(m)

Au gpt Ag gpt AgEq

gpt*

Vein
BV20-238 305.60 306.10 0.50 0.40 6.95 868.0 1,472 Babi Vista Main
BV20-242 234.36 234.93 0.57 0.46 3.20 381.0 659 Babi Vista Main
BV21-256 204.92 205.48 0.56 0.45 1.28 113.0 224 Babi Vista Main
BV21-283 223.50 226.14 2.64 2.11 4.87 325.1 748 Babi Vista Main
BV21-287 331.39 331.90 0.51 0.41 2.85 282.0 530 Babi Vista Main
GR21-26 120.50 121.04 0.54 0.43 7.15 764.0 1,385 Granaditas 2
GR21-29 141.26 141.78 0.52 0.42 4.70 559.0 967 Granaditas 2
Weighted Average 0.83 0.67 4.56 414.3 810

 

 

Babi Vista Hangingwall

 

Hole ID From

(m)

To (m) Drilled

Intercept

(m)

 

Approx.

True

Thickness

(m)

Au gpt Ag gpt AgEq gpt*
BV20-234 376.00 376.50 0.50 0.40 5.29 570.0 1,030
BV21-256 305.50 306.03 0.53 0.42 1.36 117.0 235
BV21-257 424.47 425.10 0.63 0.50 2.48 170.0 386
BV21-279 484.54 485.05 0.51 0.41 1.20 170.0 274
Weighted Average 0.54 0.43 2.55 249.2 471

 

 

Unnamed Veins

 

Hole ID From

(m)

To (m) Drilled

Intercept

(m)

 

Approx.

True

Thickness

(m)

Au gpt Ag gpt AgEq gpt*
BV20-244 415.00 415.50 0.50 0.40 8.21 1,340.0 2,053
BV20-245 434.50 435.00 0.50 0.40 1.23 134.0 241
BV20-231A§ 211.80 212.30 0.50 0.40 2.68 258.0 491
BV21-261 270.53 271.05 0.52 0.42 2.54 239.0 460
BV21-277 316.25 316.77 0.52 0.42 1.23 121.0 228
BV21-284 179.06 179.70 0.64 0.51 1.94 484.0 653
BV21-289 189.90 190.76 0.86 0.69 0.78 101.0 163
Note: all numbers are rounded.
Cutoff grade of 150 gpt AgEq with a minimum width of 0.5 metres.
ETW at 80% of drilled intercept width.
* AgEq is based on gold to silver ratio of 86.9:1 calculated using US$1,410/oz Au and US$16.60/oz Ag, with average metallurgical recoveries of 96% Au and 94% Ag.
§ “A” denotes a redrill of a hole related to deviation or loss of core.

 

All assays were completed by ALS Chemex in Hermosillo, Sonora, Mexico, and North Vancouver, BC, Canada.

 

The drill results in the news release include holes: BV20-223 to BV-20-226, BV20-228, BV-20-230, BV20-233, BV20-236, BV20-239, BV20-246, BV20-247, BV20-249, BV21-253 to BV21-255, BV21-260, BV21-263, BV21-265, BV21-271, BV21-272, BV21-275, BV21-278, BV21-280, BV21-282, BV21-285, BV21-286A and BV21-288 intersected veining in the Babicanora Area but were below the Company’s cutoff grade of 150 gpt AgEq over a minimum width of 0.50 metres (ETW).

 

Results being reported in this news release are up to and including holes BV21-289 and GR21-29 representing an additional 78 holes, totaling approximately 29,308 metres completed since the latest news release for the Babi Vista, Splay and Granaditas veins dated November 16, 2020. These results include 51 holes which have intersected mineralization above a cutoff grade of 150 gpt AgEq over a minimum width of 0.50 metres (see attached Figures).  This cut-off grade is consistent with what was used in the Feasibility Study Mineral Resource Estimation. A variable cut-off grade strategy was used to determine Mineral Reserves in the Feasibility Study.

 

The Inferred Mineral Resource Estimate for the Splay is based on drilling results of 28 holes (totaling 10,216 metres) up to and including hole BV20-217 and totals 211,363 tonnes grading 13.00 gpt Au and 909.4 gpt Ag, or 2,039 gpt AgEq (totaling 13.9 million AgEq ounces) with an average ETW of 1.27 metres. Results from 31 drillhole intercepts at the Splay included in this release have a weighted average of 0.91 metres ETW grading 16.12 gpt Au and 1,351.5 gpt Ag, or 2,752 AgEq. These results include 16 drillhole intercepts greater than 1,000 gpt AgEq that surround the previous high-grade holes BV20-201 and BV20-203 (see news release dated November 16, 2020) and have an average ETW of 1.18 metres grading 28.20 gpt Au and 2,310.7 gpt Ag, or 4,761 gpt AgEq.

 

In-fill drilling has confirmed the presence of additional high-grade mineralization in the Granaditas veins with hole GR21-28 intercepting 0.40 metres ETW of 114.00 gpt Au and 78,872.0 gpt Ag, or 88,779 gpt AgEq.  Intercepts for seven (7) of seventeen (17) in-fill holes reported in this news release for Granaditas have intercepted mineralization with a weighted average intercept of 1.57 metres (ETW), grading 19.24 gpt Au and 5,095.1 gpt Ag, or 6,767 gpt AgEq.  When hole GR21-28 is excluded, the weighted average is 1.76 metres (ETW), grading 15.65 gpt Au and 2,302.6 gpt Ag, or 3,663 gpt AgEq.  The Granaditas veins currently hosts a combined Inferred Mineral Resource of 1.1 million AgEq ounces with 63,157 tonnes grading 3.20 gpt Au and 260.0 gpt Ag, or 538 gpt AgEq and an ETW of 0.61 metres, based on drilling results up to and including hole GR18-23. While drilling has not substantially expanded the Granaditas Resource footprint (see attached Figures), the intersection of exceptionally high-grade in GR21-28 is important geologically for understanding the Babicanora Area as it suggests that mineralization is not cut-off by the Granaditas Fault, a concept which can be further tested in adjacent veins. As drilling continues in the area, the in-fill drilling program intends to reduce the drill spacing to approximately 30 metres at Granaditas 1 Vein, from approximately 45 metres previously.

 

Results have confirmed southeastern convergence of the Babi Vista, Babi Vista Splay and Granaditas veins. High-grade precious metal mineralization including Indicated and Inferred Mineral Resources can now be traced along a continuous 1.3 kilometre vein strike length from Babi Vista to Granaditas.

 

Two new veins are reported in this release in the footwall and hangingwall to the Babi Vista and Splay veins.  The Unnamed 1 Vein is located less than 50 metres to the west of the Splay, beyond the extent of previous drilling. The Unnamed 2 Vein is located approximately 15 metres to the east of Babi Vista.  These veins remain exploration targets and will continue to be tested as part of the ongoing drilling program.

 

The Company currently has six surface core drills operating at Las Chispas. These drill rigs are completing additional in-fill and expansion holes for the Babi Vista Vein Splay, Granaditas veins, Babi Vista HW and FW veins, unnamed veins and El Muerto Zone. The Company also has three drill rigs currently active at its El Picacho property near Las Chispas.

 

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-based precious metals exploration and development 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 ongoing initiative is to increase its asset base by expanding current Resources and Reserves, acquiring and developing high-margin precious metal projects, and ultimately operating multiple silver-gold mines in the Americas. SilverCrest’s principal focus is currently its Las Chispas Project or “Project”, which is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico. The Company has recently filed a Feasibility Study on the Project and is proceeding with mine construction. Production startup is targeted for mid-2022. 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.

 

Posted April 15, 2021

Share this news article

MORE or "UNCATEGORIZED"


Imperial Mining Receives Final Crater Lake Drill Results: Data Sent to Engineers for 43-101 Resource Estimation on TG Zone

Highlights: Assay results from the first four drillholes continue... READ MORE

June 23, 2021

Osisko Windfall Infill and Expansion Drilling Adds High-Grade

385 g/t Au Over 2.1 Metres 45.5 g/t Au over 4.1 Metres Osi... READ MORE

June 23, 2021

Amarillo drills 144.6 m of 0.7 g/t gold including 91.6 m at 0.9 g/t gold at LDS

Amarillo Gold Corporation (TSX-V: AGC) (OTCQB: AGCBF), through i... READ MORE

June 23, 2021

New Found Intercepts 150.3 g/t Au over 11.5m at Lotto

New Found Gold Corp.  (TSX-V: NFG) (OTC: NFGFF) is pleased to a... READ MORE

June 23, 2021

Palladium One Drills 7.4% Ni_Eq (164 lbs/tonne) over 4.5 Meters Including 10.2% Ni_Eq (224 lbs/tonne) over 1.7 Meters at Tyko Nickel-Copper Project, in Ontario, Canada

KEY HIGHLIGHTS Nickel-copper continuity confirmed along 350-meter... READ MORE

June 23, 2021

Copyright 2021 The Prospector News