The Prospector News

SilverCrest Announces Results from 2021 Infill and Expansion Drilling 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 Results from 2021 Infill and Expansion Drilling in the Babicanora Area

 

 

 

 

 

  • 3.0m (ETW) Grading 3,319 gpt AgEq
  • 3.6m (ETW) Grading 2,815 gpt AgEq
  • 0.4m (ETW) Grading 7,249 gpt AgEq

 

SilverCrest Metals Inc. (TSX: SIL) (NYSE American:SILV) is pleased to announce that its 2021 planned infill drilling for the Babi Vista Vein, Babi Vista Vein Splay, and Granaditas  Vein 1 Vein is nearing completion, along with continuation of expansion drilling in the Babicanora Area of its Las Chispas Project located in Sonora, Mexico (see following Tables and attached Figures). The objective of this drilling program is to increase drill density in an area proximal to current and planned underground development. This drilling is targeting conversion of an estimated 15.4M oz AgEq grading 9.97 gpt Au and 707.9 gpt Ag, or 1,574 gpt AgEq (86.9:1 Au:Ag ratio, see note below tables) of Inferred Resources (as stated in the “2021 Feasibility Study”1) to higher confidence Indicated Resources to support an updated Mineral Reserve and Life of Mine Plan in 2022.

 

_________________________
1 NI 43-101 Technical Report & Feasibility Study on the Las Chispas Project dated January 4, 2021. Refer to the Company’s News Release dated February 2, 2021 – SilverCrest Announces Positive Feasibility Study Results and Technical Report Filing for the Las Chispas Project

 

Highlights:

 

  • Infill Drilling – During the first seven months of 2021, a total of 80,632 metres in 176 drill holes have been completed at Las Chispas. This includes a total of 52,035 metres in 141 infill drill holes in the Babi Vista, Splay, and Granaditas veins with approximately 20% of infill holes intersecting grades greater than 1,000 gpt AgEq (see attached Figures):
    • Confirmation of Targeted Areas – The infill program increased estimated drill density to 25 to 35 metres (from 45 to 50 metres) over a strike length of 1.3 kilometres and successfully confirmed the grades and approximate footprint of Inferred Resources reported in the 2021 Feasibility Study.
    • Delineation of High-Grade “Shoot 201” – Infill drilling confirmed a multi-kilogram per tonne (AgEq basis) zone now named “Shoot 201” in the Splay, which surrounds the previous high-grade results in hole BV20-201, 203 and 207 (see News Release November 16, 2020). This zone has now been better defined with 11 additional holes that have an average uncapped, undiluted grade of 30.04 gpt Au and 2,429.4 gpt Ag, or 5,040 gpt AgEq, over an estimated true width (“ETW”) of 1.4 metres, within a high-grade footprint of approximately 100 metres by 75 metres. Shoot 201, along with the balance of the Splay and Granaditas, are currently not in the reserves or LOM and will be considered for conversion in an updated study in 2022.
  • Expansion Drilling – 16 expansion holes totalling 8,118 metres were completed in the renamed Babi Vista FW Zone (multiple veins) and the Babicanora Norte HW Vein (see attached Figures);
    • Babi Vista FW Vein Becomes Babi Vista FW Zone – A total of 18 new intercepts having an ETW of 0.57 metres grading 5.54 gpt Au and 680.2 gpt Ag, or 1,162 gpt AgEq have expanded the Babi Vista FW Vein, which is now renamed the Babi Vista FW Zone to incorporate the presence of several new sub-parallel and semi-continuous veins between the Splay and Babicanora Norte veins.
    • Babicanora Norte HW Vein – This vein has been expanded by approximately 300 metres along strike (see 2021 Feasibility Study). Ten new intercepts have an ETW of 0.40 metres grading 2.0 gpt Au and 260 gpt Ag, or 434 gpt AgEq.
  • H2, 2021 Focus on Infill, Expansion and Exploration – With infill drilling complete on Babi Vista, Splay, and Granaditas, the Company is working to complete other infill drilling on Babicanora Norte NW while transitioning to expansion and new exploration drilling within the Babicanora Area.

 

  1. Eric Fier, CPG, P.Eng, and CEO, remarked, “SilverCrest’s strategy for its infill drilling program is to efficiently use our capital to optimize the LOM through increasing confidence in high-grade Inferred Resource veins proximal to planned underground infrastructure. The infill program has confirmed the presence and continuity of multi-kilogram per tonne silver equivalent grades within the footprints that helped define the veins in the 2021 Feasibility Study. The program also confirmed discovery of Shoot 201, located in the Splay, which shows some of the highest precious metal grades at the project and is not yet considered in the Las Chispas Mineral Reserve. We remain focused on execution of the Las Chispas Project construction and underground mine development and will evaluate the potential opportunity for in-vein drifting in the Splay and Shoot 201 to complete further technical evaluation. With the infill program nearing completion, the drilling focus will shift towards expansion and grass roots exploration work on the over 30 veins on the Las Chispas property that remain undrilled or are not yet fully tested.”

 

The Company’s focus for the infill drill program to date was to target the 15.4 Moz AgEq Inferred Resources in the Babi Vista, Splay and Granaditas veins. At an average grade of greater than 1,500 gpt AgEq (uncapped, undiluted), these ounces have a grade more than 70% higher than the average grade of the 2021 Feasibility Study Mineral Reserve (94.7 Moz AgEq at an average grade of 879 gpt AgEq, capped and diluted).  The infill drilling prioritized drilling ounces near existing infrastructure which have the potential to further de-risk and improve the current mine plan.

 

Infill drilling has shown that high-grade footprints (grading >150 gpt AgEq) for the infilled veins are similar to previous footprints presented in the 2021 Feasibility Study. As mentioned in a news release dated April 15, 2021, this combined footprint for Babi Vista, Splay, and Granaditas, including Mineral Resources and exploration high-grade intercepts, can be traced for an estimated 1.3 kilometres of strike length.

 

Infill drilling results show similar to improved grades for the Splay and Granaditas veins relative to the average 2021 Feasibility Study Inferred Resource silver equivalent grades:

 

  • For the Splay, the 2021 Feasibility Study Inferred Resource contains 13.9 Moz AgEq at an average grade (capped, undiluted) of 13.00 gpt Au and 909.4 gpt Ag, or 2,039 gpt AgEq with an ETW of 1.27 metres. Comparatively, infill holes included in this release for this vein average (uncapped, undiluted) 15.38 gpt Au and 1,282.8 gpt Ag, or 2,619 gpt AgEq with ETW of 1.0 metres.
  • For Granaditas, the 2021 Feasibility Study Inferred Resource contains 913 koz AgEq at an average grade (capped, undiluted) of 4.11 gpt Au and 295.2 gpt Ag, or 653 gpt AgEq with ETW of 0.56 metres. Comparatively, infill holes reported in this release for this vein average (uncapped, undiluted) 3.77 gpt Au and 466.65 gpt Ag, or 794 gpt AgEq with ETW of 1.10 metres.

 

A total of 18 new intercepts having an ETW of 0.57 metres grading 5.54 gpt Au and 680.2 gpt Ag, or 1,162 gpt AgEq have expanded the Babicanora Vista FW Vein, which is now renamed to the Babicanora Vista FW Zone in order to incorporate the presence of several new sub-parallel and semi-continuous veins between Babi Vista and Babicanora Norte veins. The Babicanora Vista FW Zone is comprised of five smaller shoots (grading >150 gpt AgEq) within an overall corridor of approximately 600 metres along strike and 150 metres across strike (see attached Figures). Additionally, the southeastern strike extension of the Babicanora Norte HW Vein has been supported by 10 vein intercepts with an ETW of 0.43 metres grading 2.00 gpt Au and 260.0 gpt Ag, or 434 gpt AgEq and a footprint (grading >150 gpt AgEq) of approximately 400 metres along strike and 100 metres high. The most significant drill hole intercepts for this release are (using ETW):

 

  • Infill hole BV21-307; Babi Vista – 2.96 metres grading 17.13 gpt Au and 1,830.4 gpt Ag, or 3,319 gpt AgEq.
  • Infill hole BV21-308; Splay – 3.55 metres grading 15.83 gpt Au and 1,439.8 gpt Ag, or 2,815 gpt AgEq.
  • Expansion hole BAN21-340; Babi Vista FW Zone – 0.41 metres grading 34.40 gpt Au and 4,260.0 gpt Ag, or 7,249 gpt AgEq.

 

Drill intercept highlights from the infill program that are reported in this release are tabulated below. All grades are reported as uncapped and undiluted. Note that the same drill hole number may be shown for different veins. This is due to the same hole intercepting multiple veins.

 

 

Babi Vista Splay Vein (Infill)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BV20-207** 315.42 315.95 0.53 0.42 10.30 1,015.0 1,910
BV21-295 261.48 262.00 0.52 0.42 1.80 316.0 472
BV21-296 384.46 385.24 0.78 0.62 1.00 104.0 191
BV21-299 402.37 402.90 0.53 0.42 4.08 349.0 704
BV21-308 364.92 369.36 4.44 3.55 15.83 1,439.8 2,815
Includes 367.55 368.09 0.54 0.43 93.60 7,750.0 15,884
BV21-313 401.22 401.74 0.52 0.42 162.00 11,797.0 25,875
BV21-315 422.90 424.00 1.10 0.88 1.31 100.0 214
BV21-317 314.45 315.05 0.60 0.48 11.80 1,390.0 2,415
BV21-319 352.33 354.28 1.95 1.56 3.97 287.6 632
BV21-324 345.73 346.82 1.09 0.87 4.90 432.2 858
Weighted Average 1.21 0.97 15.38 1,282.8 2,619
Babi Vista Main Vein (Infill and Expansion)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BV21-300 434.20 434.88 0.68 0.54 2.16 227.0 415
BV21-307 392.45 396.15 3.70 2.96 17.13 1,830.4 3,319
Includes 393.65 394.86 1.21 0.97 42.30 4,490.0 8,166
BV21-316 419.00 420.05 1.05 0.84 6.71 8.0 591
BV21-327 383.60 384.10 0.50 0.40 7.03 609.0 1,220
BV21-331 376.73 377.95 1.22 0.98 19.47 1,618.0 3,310
BV21-332 340.00 340.68 0.68 0.54 1.70 129.0 277
BV21-334 406.65 407.23 0.58 0.46 6.88 546.0 1,144
BV21-337 322.16 322.66 0.50 0.40 4.10 336.0 692
BV21-340 337.00 337.50 0.50 0.40 1.12 126.0 223
BAN21-337 199.55 200.35 0.80 0.64 2.95 338.0 594
Weighted Average 1.02 0.82 10.70 991.1 1,921

 

Babi Vista FW Zone (Infill and Discovery)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BAN21-335 277.00 277.56 0.56 0.45 20.70 3,740.0 5,539
BAN21-337 359.48 360.18 0.70 0.56 0.91 87.4 166
BAN21-337 316.73 317.87 1.14 0.91 3.08 287.0 555
BAN21-340 211.02 211.53 0.51 0.41 34.40 4,260.0 7,249
BAN21-340 226.50 227.00 0.50 0.40 4.12 448.0 806
BAN21-343 210.58 211.13 0.55 0.44 1.09 62.8 158
BAN21-343 281.35 283.45 2.10 1.68 4.77 432.9 847
Includes 281.35 281.90 0.55 0.44 15.55 1,385.0 2,736
BAN21-347 217.81 218.33 0.52 0.42 2.10 216.0 398
BAN21-350 237.70 238.44 0.74 0.59 2.35 206.0 410
BV21-299 328.25 328.80 0.55 0.44 2.63 97.0 326
BV21-302 334.10 334.62 0.52 0.42 3.54 315.0 623
BV21-309 346.21 347.00 0.79 0.63 0.44 112.0 150
BV21-311 280.30 280.90 0.60 0.48 3.50 465.0 769
BV21-319 263.40 263.92 0.52 0.42 8.00 1,700.0 2,395
BV21-325 253.07 253.77 0.70 0.56 5.81 503.0 1,008
BV21-332 226.87 227.40 0.53 0.42 1.12 161.0 258
BV21-334 349.95 350.58 0.63 0.50 8.41 792.0 1,523
BV21-338 327.72 328.32 0.60 0.48 3.40 311.0 606
Weighted Average 0.71 0.57 5.54 680.2 1,162
Babicanora Norte HW Vein (Expansion)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BAN21-334 402.80 403.30 0.50 0.40 2.43 249.0 460
BAN21-335 470.54 471.12 0.58 0.46 5.12 423.0 868
BAN21-340 381.37 381.95 0.58 0.46 2.94 641.0 896
BAN21-347 381.95 382.42 0.47 0.38 0.13 278.0 289
BAN21-349 356.28 356.93 0.65 0.52 0.60 112.0 164
BAN21-350 373.22 373.81 0.59 0.47 3.19 321.0 598
BAN21-351 387.25 387.75 0.50 0.40 1.09 95.0 190
BAN21-352 401.55 402.05 0.50 0.40 1.78 176.0 331
BAN21-353 401.60 402.10 0.50 0.40 0.97 90.3 175
BV21-330 446.73 447.30 0.57 0.46 1.33 174.0 290
Weighted Average 0.54 0.43 2.00 260.0 434

 

Granaditas (Infill)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BV20-218 119.60 120.44 0.84 0.67 1.66 211.0 355
BV21-297 195.80 197.40 1.60 1.28 1.37 227.0 346
BV21-335 222.04 226.16 4.12 3.30 6.62 732.1 1,307
Includes 223.75 224.45 0.70 0.56 32.10 3,280.0 6,069
GR21-30 285.72 286.45 0.73 0.58 4.52 387.0 779
GR21-33 268.16 268.66 0.50 0.40 3.18 344.0 620
GR21-39 132.90 135.26 2.36 1.89 3.35 539.1 829
Includes 134.60 135.26 0.66 0.53 5.98 883.0 1,402
GR21-44 316.70 317.70 1.00 0.80 0.58 122.0 172
GR21-49 231.89 232.48 0.59 0.47 0.77 105.0 171
GR21-51 254.00 254.70 0.70 0.56 3.22 482.0 761
Weighted Average 1.38 1.10 3.77 466.6 794
Unnamed Vein Intercepts (Exploration)
Hole ID From (m) To (m) Drilled
Intercept

(m)
Approx.
True

Thickness

(m)
Au gpt Ag gpt AgEq gpt*
BAN21-334 453.40 453.90 0.50 0.40 11.70 2,230.0 3,247
BAN21-340 243.06 243.58 0.52 0.42 1.76 263.0 416
BV21-308 357.55 358.10 0.55 0.44 2.79 351.0 593
BV21-313 467.97 468.52 0.55 0.44 2.63 207.0 436
BV21-331 124.42 124.90 0.48 0.38 1.31 169.0 283
GR21-30 192.76 193.33 0.57 0.46 1.37 139.0 258
GR21-31 247.05 247.70 0.65 0.52 13.40 26.8 1,191
GR21-38 197.58 198.10 0.52 0.42 2.41 260.0 469
GR21-53 224.90 225.57 0.67 0.54 2.17 273.0 462
GR21-53 225.57 226.07 0.50 0.40 0.78 120.0 188

 

Notes:
All numbers are rounded.
Cut-off grade (COG) of 150 gpt AgEq is applied with a minimum true width of 0.5 metres.
The 150 gpt AgEq COG is an exploration threshold and is consistent with the 2021 Feasibility Study.  Grades have not yet been subjected to grade capping, dilution and other modifying factors that will be required for estimation of mineral resources and reserves.
ETW is an estimated 80% of drilled intercept width,
* AgEq is based on the 2021 Feasibility Study Mineral Resource and Reserve 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.
** The intercept in hole BV20-207 that was reported in the Splay vein in the 2021 Feasibility Study has been reinterpreted as part of the Babicanora Vista FW Zone.  This new reported intercept represents the previously unreported composite grade for this hole within the Splay vein.

 

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

 

The drill results also include holes: BV21-290 to BV21-294, BV21-298, BV21-299, BV21-301, BV21-303 to BV21-306, BV21-310, BV21-312, BV21-314, BV21-318, BV21-320 to BV21-323 BV21-326, BV21-328, BV21-329, BV21-333, BV21-336, BV21-339 which intersected veining but were below the Company’s cutoff grade of 150 gpt AgEq.

 

Unnamed vein intercepts, as stated in above table, represent blind (not present at surface) veins that were intersected while drilling between or below Babi Vista, Splay, Granaditas and Babicanora Norte veins. Further drilling may show vein or zone continuity in multiple holes to suggest a new discovery.

 

With the planned 2021 infill drilling nearing completion, a total of 11 drills are currently active at Las Chispas in the Babicanora Area including eight (8) surface drills and three underground drills. SilverCrest’s 2021 Company-wide exploration program budget is US$42 million (see News Release dated February 24, 2021). During the first seven months of 2021, SilverCrest has incurred an estimated $14 million for the Company’s drilling programs at Las Chispas and Picacho. The focus of surface drilling efforts at Las Chispas will transition from infill to expansion and new exploration targets within the Babicanora area.  Once infill drilling is completed in Q4, 2021, the technical team will begin to evaluate the work necessary to potentially add these ounces into an updated mineral reserve and LOM in 2022.

 

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 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 top priority is on the high-grade, historic Las Chispas mining district in Sonora, Mexico, where it has completed a feasibility study on the Las Chispas Project and is proceeding with mine construction. Start-up of production at the Las Chispas Mine is targeted for mid-2022. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal 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

Posted September 9, 2021

Share this news article

MORE or "UNCATEGORIZED"


Fireweed Intersects Three Distinct High-Grade Zinc Zones Including 23.77% Zinc, 3.44% Lead, and 75.7 g/t Silver Over 10.42 m in New Zone at Boundary West

FIREWEED ZINC LTD. (TSX-V: FWZ) is pleased to announce the result... READ MORE

September 16, 2021

Three more holes intersect mineralized porphyry at Brama target, Bramaderos Project, Ecuador, paving way for maiden Mineral Resource Estimate in early 2022

Assays include 69.6m at 0.65g/t gold and 0.2% copper  ... READ MORE

September 16, 2021

Labrador Gold Intersects 128.51 g/t Gold Over 1.12 Metres at Big Vein, Kingsway Project

Labrador Gold Corp. (TSX-V:LAB) (OTCQX:NKOSF) (FNR:... READ MORE

September 16, 2021

Pan Global Continues to Expand the near Surface Copper-Tin Discovery at the Escacena Project, Southern Spain

Highlights include: 6.5m at 2.52% CuEq (2.27% Cu, 8.1g/t Ag) from... READ MORE

September 16, 2021

Drilling at Galloway Continues to Provide Good Mineralized Intersections

Fokus Mining Corporation (TSX-V: FKM) (OTCQB: FKMCF) (FSE: F7E1) ... READ MORE

September 16, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News