The Prospector News

SilverCrest Expands Santa Elena Deposit

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

SilverCrest Expands Santa Elena Deposit

More High Grade Intercepts 13m @ 1.6 gpt Au and 324.8 gpt Ag Including 1m @ 5.1 Au and 2,840 gpt Ag

 SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC)(NYSE Amex:SVLC) announce results of further drilling at the Santa Elena Mine in Sonora, Mexico. Ninety four holes of a planned 100 holes have been completed to help re-categorize Indicated and Inferred Resources to Probable Reserves and expand current underground Resources (see attached Figure Рhttp://media3.marketwire.com/docs/svl114-F1.jpg). This drill program continues to be extremely successful with several recent holes identifying multiple bonanza grade intercepts and the new El Cholugo high grade gold and silver zone. All holes included in this program will assist with Resource confirmation and reclassification to be included in the upcoming Pre-Feasibility Study for the Santa Elena Expansion Project.

 

 

J. Scott Drever, President stated; “We are extremely encouraged with the high grade silver intercepts that we are encountering and the fact that four of the high grade results are just on or well beyond our current resource boundary. Gold values and interval widths are also substantial which bodes well for the addition of resources in our upcoming Resource and Reserve revisions.”

 

 

In this reported series, core holes SE-12-73 and 110 have intercepted further Bonanza grades of gold, greater than 34 gpt Au and/or silver, greater than 1,000 gpt Ag, ranging from 1.0 metre @ 4.47 gpt Au and 1,465 gpt Ag to 1.0 metres @ 5.07 gpt Au and 2,840 gpt Ag (see tables below). Results from Bonanza grade hole SE-12-62 were partially announced on Jan. 7, 2013 with a final intercept of 1.7 metre @ 42.59 gpt Au and 1,460 gpt Ag within 5.2 metres @ 15.34 gpt Au and 546.2 gpt Ag.

 

 

Holes SE-12-72, 73, 74, and 111 have intercepted an extension of strong mineralization along the Main Mineralized Trend to the east and at depth (see attached Figure – http://media3.marketwire.com/docs/svl114-F1.jpg). These intercepts are up to 200 metres beyond the boundary of current Resource estimates. This Expansion Area is currently approximately 300 metres long by 150 metres high by 5 to 13 metres thick and open to the east and at depth. These new intercepts will be included in the upcoming revised underground Resources and Reserves. Further drilling is underway to help delineate this area of expansion.

 

 

Assay values in this series of holes range from 0.7 gpt to 42.6 gpt gold and 51.1 gpt to 2,840.0 gpt silver. Mineralized intervals range from 2.8 metres to 28.2 metres. All mineralized drill intercepts are near true thicknesses. The most significant assay results in this series of holes are shown in the following tables;

 

 

----------------------------------------------------------------------------
                       To  Interval  Interval     Au      Au       Ag     Ag
Hole ID      From     (m)       (m)      (ft)    gpt     opt      gpt    opt
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SE-12-62    394.8   400.0       5.2      17.1   15.3   0.447    546.2   15.9
----------------------------------------------------------------------------
includes    395.4   397.1       1.7       5.6   42.6   1.242  1,460.7   42.6
----------------------------------------------------------------------------
SE-12-72    472.6   478.7       6.1      20.1    2.3   0.066    192.1    5.6
----------------------------------------------------------------------------
SE-12-73    489.0   502.0      13.0      42.7    1.6   0.045    324.8    9.5
----------------------------------------------------------------------------
includes    496.7   497.7       1.0       3.3    5.1   0.148  2,840.0   82.8
----------------------------------------------------------------------------
SE-12-74    572.5   577.4       5.0      16.3    2.1   0.061    177.1    5.2
----------------------------------------------------------------------------
SE-12-107   206.1   209.0       2.8       9.4    1.0   0.030     85.4    2.5
----------------------------------------------------------------------------
SE-12-108   221.8   231.0       9.3      30.3    1.1   0.032     78.2    2.3
----------------------------------------------------------------------------
SE-12-109   242.8   251.0       8.2      26.7    1.3   0.039    153.4    4.5
----------------------------------------------------------------------------
includes    246.8   249.8       3.0      10.0    2.9   0.084    360.5   10.5
----------------------------------------------------------------------------
SE-12-110   225.4   233.0       7.5      24.7    1.4   0.041    308.6    9.0
----------------------------------------------------------------------------
includes    229.0   230.0       1.0       3.3    4.5   0.130  1,465.0   42.7
----------------------------------------------------------------------------
SE-12-111   507.9   514.8       7.0      22.8    0.7   0.021     51.1    1.5
----------------------------------------------------------------------------
SE-12-113   199.5   211.7      12.3      40.2    0.8   0.024     81.2    2.4
----------------------------------------------------------------------------
SE-12-114   219.9   248.1      28.2      92.4    1.6   0.046    115.5    3.4
----------------------------------------------------------------------------
includes    223.5   231.5       8.0      26.2    2.2   0.066    188.9    5.5
----------------------------------------------------------------------------
includes    237.2   243.7       6.5      21.3    2.3   0.066    131.1    3.8
----------------------------------------------------------------------------
Note: All numbers are weighted averages, uncut and rounded.

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

 

 

Silver assays for Hole SE-12-62 pending in the news release dated January 7, 2012 are presented above. Hole SE-12-112 is absent in the above sequence as it is currently being drilled.

 

 

Approximately 33,000 metres of drilling have been completed to date in the program to assist with converting underground Resources to Reserves and expand total Resources. Results for the next series of holes will be released once compilation of results is complete. Three drills are currently on site to complete the in-fill program in early February, 2013. Further expansion drilling will be completed in Q1 2013. Revised Santa Elena Resources and Reserves are expected in Q1 2013 with subsequent reporting of the results of Pre-Feasibility Study for the Expansion Plan.

 

 

The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.

 

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 life of the current open pit at the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine (open pit and underground) and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.

Posted January 16, 2013

Share this news article

MORE or "UNCATEGORIZED"


Republic of Niger and GoviEx Sign Definitive Agreements to Jointly Develop GoviEx's Flagship Madaouela Project

GoviEx Uranium Inc. (TSX-V: GXU) (OTCQB: GVXXF) is pleased to ann... READ MORE

July 19, 2019

Yamana Gold Announces a Positive Pre-Feasibility Study With an Impressive and Increased NPV of $1.9 Billion and an Increased After-Tax IRR of 19.7% for the Long Life Integrated Agua Rica Copper-Gold Project

YAMANA GOLD INC. (TSX:YRI) (NYSE:AUY) is pleased to announce the ... READ MORE

July 19, 2019

Tudor Closes Additional $3 Million Strategic Investment by Eric Sprott

Tudor Gold Corp. (TSX-V: TUD) (FSE: TUC) is pleased to announce t... READ MORE

July 19, 2019

Pure Gold Closes Previously Announced Bought Deal Private Placement and Non-Brokered Private Placement Raising Gross Proceeds of C$47.5 Million

Pure Gold Mining Inc. (TSX-V: PGM) is pleased to announce that it... READ MORE

July 18, 2019

Bravada Closes Oversubscribed Equity Financing

Bravada Gold Corporation (TSX-V: BVA) (FSE: BRTN) (OTCQB: BGAVF) ... READ MORE

July 18, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions