---------------------------------------------------------------------------- From To Interval Au Ag Hole ID (m) (m) (m) gpt gpt Note ---------------------------------------------------------------------------- SERCP-1A 18.0 34.0 16.0 1.91 58.4 In-Fill Pit ---------------------------------------------------------------------------- SERCP-2A 30.0 62.0 32.0 0.93 47.7 In-Fill Pit ---------------------------------------------------------------------------- SERCP-2V 76.0 96.0 20.0 0.13 17.4 In-Fill Pit ---------------------------------------------------------------------------- SERCP-4A 36.0 48.0 12.0 2.32 130.0 In-Fill Pit ---------------------------------------------------------------------------- SERCP-4V 62.0 78.0 16.0 1.43 87.5 In-Fill Pit ---------------------------------------------------------------------------- SERCP-5A 48.0 54.0 6.0 2.11 108.3 In-Fill Pit ---------------------------------------------------------------------------- SERCP-5V 70.0 86.0 16.0 0.18 22.0 In-Fill Pit ---------------------------------------------------------------------------- SERCP-7A 34.0 50.0 16.0 5.09 232.0 In-Fill Pit ---------------------------------------------------------------------------- SERCP-7V 64.0 80.0 16.0 2.87 170.6 In-Fill Pit ---------------------------------------------------------------------------- SERCP-9A 30.0 42.0 12.0 5.97 185.2 In-Fill Pit ---------------------------------------------------------------------------- SERCP-9V 38.0 90.0 52.0 2.19 95.5 In-Fill Pit ---------------------------------------------------------------------------- SERCP-11A 30.0 46.0 16.0 6.18 103.4 In-Fill Pit ---------------------------------------------------------------------------- SERCP-11V 44.0 68.0 24.0 3.76 178.6 In-Fill Pit ---------------------------------------------------------------------------- SERCH12-36 148.0 160.0 12.0 2.70 187.5 Santa Elena U/G South ---------------------------------------------------------------------------- SERCH12-37 174.0 184.0 10.0 1.30 225.0 Santa Elena U/G South ---------------------------------------------------------------------------- SERCH12-38 160.0 170.0 10.0 0.24 18.0 Santa Elena U/G South ---------------------------------------------------------------------------- SE12-97 68.0 69.0 1.0 1.51 51.0 Santa Elena NW ---------------------------------------------------------------------------- SE12-98 87.5 88.9 1.4 8.60 244.0 Santa Elena NW ---------------------------------------------------------------------------- 97.4 102.3 4.9 5.10 118.0 Santa Elena NW ---------------------------------------------------------------------------- SE12-99 12.5 14.0 1.5 2.40 12.0 Santa Elena NW ---------------------------------------------------------------------------- 99.5 100.5 1.0 1.40 49.0 Santa Elena NW ---------------------------------------------------------------------------- (i) all numbers are rounded
Santa Elena NW holes SE12-97 to SE12-99 intercepted high grade values over 1 to 4 metres wide. These intercepts along with in-pit ore control holes in the NW wall of the pit suggest a possible new underground target. Holes SE12-100 and 101 were drilled on separate targets but did not intercept significant mineralization. Further drilling is anticipated in 2013.
Sixty six holes have been completed to date for underground resource conversion to reserves and expansion. Results of these holes will be released once compilation of results is complete. Three drills are currently on site to complete drilling by the end of 2012. Revised Santa Elena Resources and Reserves are expected along with the PFS in Q1 2013. This program has been extended to achieve required drilling to assist with the conversion of Resources to Reserves and potentially expand known Resources.
SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC)(NYSE Amex:SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company’s anticipated results and developments in the Company’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
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