- 2.4 Metres (TW) Grading 555.36 gpt Au and
19,452.8 gpt Ag, or 61,105 gpt AgEq
TSX: SIL | NYSE American: SILV
VANCOUVER, BC, Nov. 16, 2020 /CNW/ - SilverCrest Metals
Inc. ("SilverCrest" or the "Company") is pleased to announce drill
results for its newest high-grade discovery, the Babi Vista Splay
Vein ("Babi Vista Splay" or "Splay"), and in-fill drilling for the
northwest extension of the Babi Vista Vein ("Babi Vista") at its
Las Chispas Property ("Las Chispas" or the "Property") located in
Sonora, Mexico. The current drill
program for Babi Vista is designed to expand high-grade precious
metal mineralization along strike and to depth of the vein (see
attached Figures). Included in this release are results for
129 holes (see Tables below) which include 24 expansion holes
for the Babi Vista Splay and 105 in-fill holes for Babi Vista.
The Babi Vista Splay is located in the southeast extension of
the Babi Vista Vein and appears to be a splayed quartz
argentite-rich vein in the hanging wall of Babi Vista.
Highlights for Discovery of Babi Vista Splay Vein
- 24 core holes drilled to date.
- High-grade footprint of approximately 300 metres along strike
and average height of 175 metres.
- Weighted average results (true width ("TW"), uncut, undiluted)
are 1.6 metres grading 74.27 grams per tonne ("gpt") gold ("Au")
and 3,437.1 gpt silver ("Ag"), or 9,007 gpt silver equivalent
("AgEq", based on 75 Ag:1 Au) within the high-grade footprint.
- Average is dominated by hole BV20-201 with 2.4 metres (TW)
grading 555.36 gpt gold and 19,452.8 gpt Ag, or 61,105 gpt AgEq.
When excluding this hole, the weighted average results are 1.5
metres grading 10.35 gpt Au and 1,309.1 gpt Ag, or 2,085 gpt
AgEq.
- Hole BV20-201 establishes a new grade-thickness record for the
Property of 189,426 gram-metres which compares to the previous
record of 125,111 gram-metres (1.7 metres grading 73,595 gpt AgEq
in Hole BV20-60).
- Discovery is near the Company's ongoing underground work and is
readily accessible for potential early mining.
- Discovery will be included as Inferred Resources for the
upcoming resource estimation in the ongoing feasibility study.
Babi Vista Vein in-fill drill results confirmed high-grade
mineralization in the vein to the northwest. These results will be
used for re-classification of mineral resources for consideration
in the upcoming maiden reserves in the ongoing feasibility study.
Drill results for the updated resources to be included in the
feasibility study were cutoff on October 16,
2020. While drilling for the Babi Vista Splay and Babi
Vista Vein, the Babi Vista Footwall ("FW"), Granaditas and several
previously unknown and unnamed veins were also intersected with
results presented in tables below.
N. Eric Fier, CPG, P.Eng, and
CEO, remarked, "We continue to find new high-grade opportunities at
Las Chispas, with yet another record-breaking intercept and vein
discovery. Results from the Babi Vista Splay highlight continued
potential for high-grade resource growth in the vicinity of our
current underground work. With five drills active at Las Chispas,
we expect to see further results in the coming months from both
expansion and in-fill drilling beyond the completion of the
feasibility study."
The most significant result for this release is Hole BV20-201,
which intersected 2.4 metres (estimated true width) grading 555.36
gpt Au and 19,452.8 gpt Ag, or 61,105 gpt AgEq. Also noteworthy are
holes BV20-203 at 3.3 metres grading 38.18 gpt Au and 5,060.7 gpt
Ag, or 7,924 gpt AgEq in the Babi Vista Splay and BV20-106 at 0.7
metres grading 52.2 gpt Au and 3,710.0 gpt Ag, or 7,625 gpt AgEq in
the Babi Vista Vein. The following tables summarize the most
significant drill intercepts (uncut, undiluted) for this
release:
Babi Vista Splay Vein
Hole ID
|
From (m)
|
To (m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au gpt
|
Ag gpt
|
AgEq gpt*
|
BV20-125
|
362.1
|
362.6
|
0.5
|
0.4
|
5.20
|
489.0
|
879
|
BV20-167
|
210.9
|
211.4
|
0.6
|
0.4
|
2.45
|
162.0
|
346
|
BV20-182
|
307.1
|
311.4
|
4.3
|
3.4
|
7.99
|
866.7
|
1,466
|
includes
|
310.6
|
311.4
|
0.8
|
0.6
|
36.90
|
4,132.0
|
6,900
|
BV20-193
|
424.4
|
426.1
|
1.7
|
1.4
|
1.03
|
119.1
|
197
|
BV20-195
|
311.0
|
312.5
|
1.5
|
1.2
|
2.03
|
205.0
|
357
|
BV20-197
|
384.0
|
384.5
|
0.5
|
0.4
|
1.59
|
170.0
|
289
|
BV20-201
|
356.2
|
359.2
|
3.0
|
2.4
|
555.36
|
19,452.8
|
61,105
|
includes
|
357.1
|
357.6
|
0.5
|
0.4
|
3,366.00
|
114,814.0
|
367,264
|
BV20-203
|
302.0
|
306.1
|
4.1
|
3.3
|
38.18
|
5,060.7
|
7,924
|
includes
|
305.5
|
306.1
|
0.6
|
0.5
|
240.10
|
32,741.0
|
50,749
|
BV20-206
|
379.5
|
380.5
|
1.0
|
0.8
|
1.05
|
138.0
|
217
|
BV20-207
|
228.5
|
233.6
|
5.1
|
4.1
|
5.23
|
624.3
|
1,016
|
includes
|
232.9
|
233.6
|
0.7
|
0.6
|
18.35
|
2,520.0
|
3,896
|
BV20-208
|
293.0
|
294.6
|
1.6
|
1.3
|
1.97
|
236.5
|
384
|
BV20-209A
|
317.2
|
318.1
|
0.9
|
0.7
|
1.07
|
326.0
|
406
|
BV20-210
|
336.8
|
337.9
|
1.1
|
0.9
|
5.29
|
650.4
|
1,047
|
Weighted
Average
|
2.0
|
1.6
|
74.27
|
3,437.1
|
9,007
|
Babi Vista Vein
Hole ID
|
From (m)
|
To (m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au gpt
|
Ag gpt
|
AgEq gpt*
|
BV20-80
|
344.5
|
345.0
|
0.6
|
0.5
|
3.74
|
395.0
|
676
|
BV20-100
|
183.3
|
183.9
|
0.6
|
0.5
|
18.30
|
1,002.0
|
2,375
|
BV20-101
|
369.4
|
370.0
|
0.6
|
0.4
|
5.58
|
475.0
|
894
|
BV20-106
|
248.3
|
249.2
|
0.9
|
0.7
|
52.20
|
3,710.0
|
7,625
|
BV20-114
|
261.1
|
262.2
|
1.1
|
0.8
|
16.74
|
1,278.0
|
2,534
|
BV20-120
|
206.8
|
207.4
|
0.6
|
0.4
|
35.40
|
2,890.0
|
5,545
|
BV20-123
|
350.3
|
350.8
|
0.5
|
0.4
|
10.90
|
782.0
|
1,600
|
BV20-125
|
343.5
|
344.0
|
0.5
|
0.4
|
5.01
|
547.0
|
923
|
BV20-126
|
224.8
|
226.8
|
2.0
|
1.6
|
1.79
|
126.6
|
261
|
BV20-130
|
186.7
|
187.5
|
0.8
|
0.6
|
34.50
|
3,410.0
|
5,998
|
BV20-135
|
195.9
|
198.8
|
2.9
|
2.4
|
12.14
|
774.7
|
1,685
|
BV20-136
|
262.1
|
262.9
|
0.8
|
0.7
|
1.24
|
119.0
|
212
|
BV20-137
|
173.8
|
174.5
|
0.7
|
0.6
|
1.65
|
185.0
|
309
|
BV20-139
|
179.1
|
179.6
|
0.5
|
0.4
|
1.54
|
111.0
|
227
|
BV20-140
|
278.9
|
279.5
|
0.6
|
0.4
|
3.42
|
254.0
|
511
|
BV20-143
|
293.9
|
294.4
|
0.5
|
0.4
|
5.10
|
613.0
|
996
|
BV20-146
|
284.1
|
285.0
|
0.9
|
0.8
|
1.24
|
96.4
|
189
|
BV20-147
|
210.0
|
210.6
|
0.6
|
0.5
|
1.25
|
120.0
|
214
|
BV20-152
|
196.2
|
197.3
|
1.1
|
0.9
|
20.32
|
1,293.9
|
2,818
|
BV20-154
|
292.5
|
293.0
|
0.5
|
0.4
|
2.56
|
325.0
|
517
|
BV20-165
|
265.0
|
266.5
|
1.5
|
1.2
|
6.95
|
906.0
|
1,427
|
BV20-175
|
262.5
|
263.0
|
0.5
|
0.4
|
2.72
|
336.0
|
540
|
BV20-178
|
343.1
|
344.0
|
0.9
|
0.7
|
44.60
|
2,990.0
|
6,335
|
BV20-179
|
229.5
|
230.0
|
0.5
|
0.4
|
2.66
|
338.0
|
538
|
BV20-182
|
302.1
|
303.5
|
1.4
|
1.1
|
1.33
|
126.1
|
226
|
BV20-191
|
215.7
|
216.2
|
0.5
|
0.4
|
10.55
|
1,180.0
|
1,971
|
BV20-197
|
292.8
|
294.1
|
1.3
|
1.0
|
1.92
|
196.2
|
340
|
Babi Vista FW & Granaditas Veins
Hole ID
|
From (m)
|
To (m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au gpt
|
Ag gpt
|
AgEq gpt*
|
BV20-211
|
204.6
|
205.4
|
0.8
|
0.6
|
3.12
|
353.0
|
587
|
BV20-213
|
132.9
|
134.1
|
1.2
|
1.0
|
26.29
|
3,768.6
|
5,740
|
BV20-216
|
172.9
|
174.5
|
1.6
|
1.2
|
5.18
|
647.5
|
1,036
|
Unnamed Vein Intercepts
Hole ID
|
From (m)
|
To (m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au gpt
|
Ag gpt
|
AgEq gpt*
|
BV20-80
|
215.9
|
216.5
|
0.6
|
0.5
|
1.50
|
154.0
|
266
|
|
339.1
|
339.9
|
0.8
|
0.6
|
1.84
|
129.0
|
267
|
BV20-102
|
93.2
|
93.9
|
0.7
|
0.5
|
0.74
|
109.0
|
165
|
BV20-112
|
249.0
|
249.6
|
0.6
|
0.5
|
2.75
|
219.0
|
425
|
BV20-158
|
219.9
|
220.4
|
0.5
|
0.4
|
1.08
|
84.8
|
166
|
BV20-163
|
141.8
|
142.3
|
0.5
|
0.4
|
1.57
|
196.0
|
314
|
BV20-174
|
287.6
|
288.3
|
0.7
|
0.5
|
1.89
|
217.0
|
359
|
BV20-182
|
224.1
|
224.7
|
0.6
|
0.4
|
0.83
|
147.0
|
209
|
BV20-181
|
195.0
|
195.6
|
0.6
|
0.4
|
3.70
|
5.0
|
283
|
BV20-207
|
213.7
|
214.5
|
0.8
|
0.6
|
1.69
|
213.0
|
340
|
Note: All numbers are
rounded. Based on a cutoff grade of 150 gpt AgEq.
|
*AgEq based on 75
(Ag):1 (Au) calculated using long-term silver and gold prices of
US$17 per ounce silver and US$1,225 per ounce gold, with average
metallurgical recoveries of 90% silver and 95% gold.
|
All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada, and Bureau Veritas Inspectorate Ltd.
in Hermosillo, Mexico.
Holes BA18-91, BV20-86 to 87, 90 to 91, 93, 95 to 99, 103 to
105, 107 to 111, 113, 115 to 119, 112 to 122, 124, 128 to 129, 131
to 134, 138, 141 to 142, 144 to 145, 148 to 151, 153, 155 to 157,
160 to 162, 164, 166, 168 to 173, 176 to 177, 180, 183 to 190, 192,
194, 196, 198 to 200, 202, 204 to 205, 212, 214 to 215 and 217
intersected veining but were below the Company's cutoff grade of
150 gpt AgEq.
There are currently five (5) surface core drills operating at
Las Chispas. These drill rigs are completing further known vein
expansion holes for the Babi Vista Vein, El Muerto Zone and
Amethyst Vein. Approximately 30 holes for 12,000 metres remain to
be completed for 2020. An updated resource estimate is being
completed as part of the ongoing feasibility study with an expected
completion in Q4 2020 or early January
2021.
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 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 current focus is on the high-grade,
historic Las Chispas mining district in Sonora, Mexico. The Las Chispas Project
consists of 28 mineral concessions, of which the Company has 100%
ownership of where all the resources are located. 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.
FORWARD-LOOKING
STATEMENTS
This news release
contains "forward-looking statements" within the meaning of
Canadian securities legislation. These include, without limitation,
statements with respect to: the strategic plans, timing and
expectations for the Company's exploration and drilling programs of
the Las Chispas Property, including updating the Company's resource
model and preparing a feasibility study; information with respect
to high grade areas and size of veins projected from underground
sampling results and drilling results; and the accessibility of
future mining at the Las Chispas Property. Such forward–looking
statements or information are based on a number of assumptions,
which may prove to be incorrect. Assumptions have been made
regarding, among other things: impact of the COVID-19 pandemic; the
reliability of mineralization estimates, the conditions in general
economic and financial markets; availability of skilled labour;
timing and amount of expenditures related to rehabilitation and
drilling programs; and effects of regulation by governmental
agencies. The actual results could differ materially from those
anticipated in these forward-looking statements as a result of risk
factors including: uncertainty as to the impact and duration of the
COVID-19 pandemic; the timing and content of work programs; results
of exploration activities; the interpretation of drilling results
and other geological data; receipt, maintenance and security of
permits and mineral property titles; environmental and other
regulatory risks; project cost overruns or unanticipated costs and
expenses; and general market and industry conditions.
Forward-looking statements are based on the expectations and
opinions of the Company's management on the date the statements are
made. The assumptions used in the preparation of such statements,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date the statements were made. The Company
undertakes no obligation to update or revise any forward-looking
statements included in this news release if these beliefs,
estimates and opinions or other circumstances should change, except
as otherwise required by applicable law.
N. Eric Fier, CPG,
P.Eng
|
|
For Further
Information:
|
Chief Executive
Officer
|
|
|
SilverCrest Metals
Inc.
|
|
SilverCrest Metals
Inc.
|
|
|
Contact:
|
Jacy Zerb, Investor
Relations Manager
|
|
|
Telephone:
|
+1 (604)
694-1730
|
|
|
Fax:
|
+1 (604)
357-1313
|
|
|
Toll Free:
|
1-866-691-1730
(Canada & USA)
|
|
|
Email:
|
info@silvercrestmetals.com
|
|
|
Website:
|
www.silvercrestmetals.com
|
|
|
570 Granville Street,
Suite 501
|
|
|
Vancouver, British
Columbia V6C 3P1
|
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SOURCE SilverCrest Metals Inc.