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:
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:
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):
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
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