Vancouver, British Columbia--(Newsfile Corp. - December 28, 2017) - SilverCrest Metals (TSXV: SIL) (OTCQX: SVCMF) has released additional phase II drill results for the Las Chispas Property, located in Sonora, Mexico, where infill drilling of the Babicanora Vein continues to intersect high-grade mineralization.
With the latest results, SilverCrest has drill-tested and intersected high-grade mineralization for over 1,000 metres of strike length at the Babicanora Vein.
There are 19 known epithermal veins on the Property, including nine which have been drilled, and consist of the Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas and Amethyst veins.
SilverCrest is the first company to successfully drill-test the historic Las Chispas Project and has intersected high-grade silver-gold mineralization in each of the nine veins drilled to date.
This table summarizes the most significant drill intercepts (uncut and undiluted) released today.
The most significant result for this release was returned from Hole BA17-51, which intersected 3.1 metres (true thickness) grading 40.45 grams per tonne gold and 5,375.2 grams per tonne or 8,409 grams per tonne silver equivalent, based on 75:1 silver/gold ratio and 100% metallurgical recovery.
Also noteworthy is Hole BA17-49 at 2.0 metres grading 18.20 grams per tonne gold and 1,791.4 grams per tonne silver, or 3,158 grams per tonne silver equivalent and Hole BA17-46 at 1.2 metres grading 54.20 grams per tonne gold and 2,020.7 grams per tonne silver, or 6,086 grams per tonne silver equivalent.
|Hole No.||From |
|Est. True Thickness (metres)||Gold |
|Silver Equivalent gpt|
Drill holes BA17-44 and 45 intercepted anomalous mineralization, but are below the company's 150 grams per tonne silver equivalent cutoff. Holes BA17-46, 48 and 49 intercepted bonanza grades in the Babicanora Footwall Vein. Hole BA17-51 intercepted bonanza grades consisting of coarse argentite, electrum, native silver and gold.
The company plans to continue with step-out and infill drilling consisting of an additional 10 to 15 surface holes on the Babicanora Vein and ongoing underground drilling on the Las Chispas and Giovanni veins. Furthermore, the Company continues to collect trench samples from the surface dumps.
N. Eric Fier, CPG, P.Eng, President and CEO, stated: "Our continued drilling of the Babicanora Vein has shown consistent high-grades along the drill-tested strike length of over one kilometer, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora Vein to test for further extensions by mid-January 2018 in anticipation of releasing a maiden resource estimate for the Las Chispas Property in February 2018."
The shares are trading at $1.87 and with 54 million shares outstanding, the company is capitalized at $101 million.
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