The Prospector News

SilverCrest Announces Remaining Phase I Drilling Results from Las Chispas Project; Further Drilling Confirms Grade Continuity in Las Chispas Vein

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

SilverCrest Announces Remaining Phase I Drilling Results from Las Chispas Project; Further Drilling Confirms Grade Continuity in Las Chispas Vein

 

 

 

 

 

SilverCrest Metals Inc. (TSX-V: SIL) is pleased to announce the results of the remaining drill holes from Phase I drilling for the Las Chispas Project. The Las Chispas Project is located in Sonora State, Mexico and is in a historic silver-gold mining district which presently hosts two nearby precious metal producers. Historic information indicates that of the fourteen historically reported veins at Las Chispas, only three veins, the Las Chispas, William Tell and Babicanora, had documented production, which occurred between 1880 and 1930. SilverCrest’s initial focus is on these three veins. To the Company’s knowledge, none of the known veins have been drilled prior to the Company’s Phase I drill campaign. For more information, please refer to our website at www.silvercrestmetals.com.

 

 

(Photo: http://photos.prnewswire.com/prnh/20160914/407475)

 

 

Dunham Craig, P.Geo., Interim CEO remarked, “The remaining drill hole results from the Phase I drill program intercepted the Las Chispas vein which has further demonstrated continuity of high grades and potential mineable thicknesses. Phase II exploration work will continue to define the Las Chispas vein for resource estimation expected in H1 2017. As we continue to systematically explore this district-wide discovery with multiple undrilled epithermal veins, we could potentially have several more discoveries. The Babicanora area (no previous drilling), immediately adjacent to Las Chispas and William Tell veins, is considered the largest target in the district and will be tested in Phase II exploration.”

 

 

The most substantial core drilling results from the remainder of the Phase 1 holes are 1.0 metres wide grading 1.55 grams per tonne (“gpt”) gold (“Au”) and 706.0 gpt silver (“Ag”), or 822.2 gpt silver equivalent (“AgEq”* uncut, undiluted, see attached Figure).  The following table summarizes the most significant drill assay results (uncut, undiluted) for the Las Chispas vein only;

 

Hole No.

Location

From (m) To (m)

True
Thickness**

Au gpt Ag gpt

AgEq
gpt *

LC-16-17

Las Chispas Vein

81.0

82.0

1.0

2.27

306.0

476.2

LC-16-18

Las Chispas Vein

80.0

81.0

1.0

1.55

706.0

822.2

LC-16-19

Las Chispas Vein

167.0

168.0

1.0

1.07

143.0

223.3

LC-16-18

Adjacent Footwall Vein***

118.0

119.0

1.0

0.92

113.0

182.0

LC-16-19

Adjacent Footwall Vein

186.0

189.0

3.0

0.30

68.1

91.1

Note: all numbers are rounded.
* AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
** All holes were drilled at perpendicular angles to mineralization with no adjustments required. Minimum sample width is 1.0 m.
*** Intercept is for a new consistent vein in the footwall of Las Chispas Vein as previous drilled and defined.

 

 

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

 

 

All drill holes have intercepted quartz stockwork veinlets, veining and/or breccia.

 

 

Deeper vein intercepts into the Las Chispas vein, including holes LC16-12, 13, 14 and 15, intercepted quartz veining and stockwork. Grades for those intercepts were below 150 gpt AgEq. Further work is required to depth to better understand the precious metal zone below 300 metres from surface. Drill-intercepted mineralization at Las Chispas vein currently suggests a precious metal zone of at least 300 metres in depth.

 

 

The first NI43-101 technical report (non-resource) is currently being completed and should be available in Q4 2016. Based on the recent success of the Las Chispas Phase I program and subsequent announced discoveries, the Company is targeting a first resource estimation to be announced in H1 2017 along with a 100,000 tonne bulk sampling plan to form the basis for a preliminary economic assessment.

 

 

Underground rehabilitation work continues as scheduled with approximately 5 kilometres of the estimated existing 11.5 kilometres reopened.

 

 

The Company is completing final permitting for the Phase II exploration program. Work is anticipated to commence in Q4 2016.

 

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 is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible “phased approach” business model taking projects through discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.

 

Posted September 15, 2016

Share this news article

MORE or "UNCATEGORIZED"


Uranium Royalty Corp. Closes $30 million Initial Public Offering and Announces Listing on the TSX Venture Exchange

Uranium Royalty Corp. (TSX-V: URC) is pleased to announce that it... READ MORE

December 6, 2019

Denison Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (DML: TSX) (DNN: NYSE American) is plea... READ MORE

December 6, 2019

Scorpio Gold Reports Results of Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada

Scorpio Gold Corporation (TSX-V:SGN) announces results of its fir... READ MORE

December 6, 2019

Nevada Exploration Closes Oversubscribed Financing

Nevada Exploration Inc. (TSX-V: NGE) (OTCQB: NVDEF) is pleased to... READ MORE

December 6, 2019

Ascot Exploration Drilling Intersects 17.29 g/t Gold Over 3.58 Metres in New Area West of Premier Portal

Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) is pleased to annou... READ MORE

December 6, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions