TSX: SIL | NYSE American: SILV
VANCOUVER, BC, Jan. 14, 2021 /CNW/ - SilverCrest Metals
Inc. ("SilverCrest" or the "Company") is pleased to announce the
remaining in-fill drill results which will be included in the
upcoming Feasibility Study for its Las Chispas Property ("Las
Chispas" or the "Property") located in Sonora, Mexico. Today's results include
in-fill drilling for the Babicanora ("Babi Main"), the Babicanora
Footwall ("Babi FW"), the Babicanora Hangingwall ("Babi HW") and
Babicanora Sur ("Babi Sur") veins (see attached Figures). Drilling
for these veins was designed to expand the known mineralized
footprints, and to in-fill previously reported drilling used for
resource estimation in the Technical Report and Preliminary
Economic Assessment for Las Chispas ("PEA") with an effective date
of May 15, 2019, and amended on
July 19, 2019. These results, along
with all assay data received by the Company up to and including the
cut-off date of October 16, 2020,
will be incorporated into the Mineral Resource Estimate update and
Maiden Reserve Estimate as part of the upcoming Feasibility
Study.
Highlights include:
- For this news release, a total of 235 holes, comprising 65,360
metres and 15,153 assays, have been completed at Babi Main, Babi
FW, Babi HW, and Babi Sur veins
since the previous drill results were announced (refer to the
Company's News Releases dated June 27,
2019 and January 20,
2020);
- Of the 235 holes being reported, 133, some with multiple vein
intercepts, are shown in the following table with composite assays
grading greater than 150 grams per tonne ("gpt") silver equivalent
("AgEq");
Vein
|
Drill Hole Vein
Intercepts (composited) in This News Release
|
Drill Hole Vein
Intercepts (composited) in Total
|
# Vein
Intercepts
|
Ave. True
Width (m)
|
Weighted Ave.
Grade
|
# Vein
Intercepts
|
Ave. True
Width (m)
|
Weighted Ave.
Grade
|
Au
gpt
|
Ag
gpt
|
AgEq*
gpt
|
Au
gpt
|
Ag
gpt
|
AgEq*
gpt
|
Babi Main
|
125
|
2.1
|
4.53
|
409.9
|
750
|
231
|
2.7
|
7.54
|
712.6
|
1,238
|
Babi FW
|
31
|
1.1
|
9.03
|
655.9
|
1,333
|
67
|
1.0
|
9.04
|
748.0
|
1,431
|
Babi HW
|
31
|
0.8
|
4.62
|
182.8
|
529
|
56
|
0.7
|
3.90
|
206.6
|
460
|
Babi Sur
|
6
|
1.5
|
15.48
|
488.5
|
1,650
|
38
|
1.5
|
9.38
|
435.6
|
1,139
|
Note: Intercept
numbers reflect multiple vein intercepts for some drill holes.
Values shown are uncut, undiluted.
|
*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.
|
- The best intercepts reported in this news release per vein
(uncut, undiluted, est. true width) are:
-
- Babi Main: Hole BA19-304 - 2.4 metres, 38.06 gpt Au and 4,213.8
gpt Ag, or 7,068 gpt AgEq;
- Babi FW: Hole BA19-215 - 2.0 metres, 96.53 gpt Au and 2,898.9
gpt Ag, or 10,139 gpt AgEq;
- Babi HW: Hole BA19-303 - 0.4 metres 90.57 gpt Au and 75.4 gpt
Ag, or 6,868 gpt AgEq; and
- Babi Sur: Hole BAS20-156 - 1.8
metres, 72.22 gpt Au and 160.8 gpt Ag, or 5,577 gpt AgEq;
- In-fill drilling reduced the average vein intercept spacing
from approximately 60 metres used for the PEA resource estimation
to an estimated 35 metres for feasibility resource estimation;
- Results confirm the general southeast plunging continuity of
mineralization related to known geologic controls for each vein
(see attached Figures);
- Veins are now better defined, with drilling generally expanding
footprints with some veins showing less continuous internal
mineralization than the previous interpretation in the PEA;
-
- Babi Main Vein mineralized footprint has expanded approximately
700 metres along strike with the inclusion of Southeast extension
and El Muerto Zone (refer to News Release dated November 5, 2020). Continuity of Area 51 Zone is
similar to the previous footprint for the PEA;
- Babi HW Vein mineralized footprint has expanded 100 metres
along strike to the northwest with more continuous
mineralization;
- Babi FW Vein mineralized footprint has expanded 100 metres
along strike to the southeast but with less continuous
mineralization; and
- Babi Sur Vein mineralized
footprint (combined with its hangingwall and footwall) is similar
to the previous footprint.
- The Babi Main Vein remains the largest vein on the Property,
with expansion of high-grade mineralization for approximately 2.1
kilometres in strike length and over 200 metres in height; and
- Five surface core drills are currently operating at Las Chispas
focused on further expansion and in-filling for the Babi Vista
Vein, Babi Vista Splay Vein, El Muerto Zone and Amethyst Vein.
Overall, in-fill drilling generally shows that veins are
somewhat narrower but higher grade, with some veins having longer
strike lengths. Denser drill spacing has better defined high-grade
shoots and zones for future exploration work in the district.
N. Eric Fier, CPG, P.Eng, and
CEO, remarked, "These Babicanora in-fill drill results show that we
generally 'moved ounces around within a confined area' for these
previously defined four veins, resulting in less continuous
mineralized footprints but with higher grades, which is typical of
late-stage exploration drilling. The reduced mineralized footprint
in the Babi FW Vein will have minimal impact on total district
mineralization. With the benefit of greater drilling density and
understanding of lithologic and structural controls, we now have a
higher confidence in our ability to identify additional high-grade
mineralization for all veins in the Las Chispas district. The
feasibility resource estimation will include 21 veins (5 veins
containing a majority of the high-grade mineralization) of the
known 45 veins. The best opportunities for resource expansion for
the upcoming Feasibility Study are the Babi Vista Vein and Babi
Vista Splay Vein, which were both discovered after the PEA release.
We look forward to the announcement of the Las Chispas Feasibility
Study later this month, which will include a Resource update and
our maiden Reserve Estimate."
The following tables summarize the most significant drill
intercepts (uncut, undiluted, greater than 500 AgEq) for this
release:
Babicanora "Main" Vein
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept (m)
|
Approx. True
Width (m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BA19-197
|
271.7
|
272.7
|
1.0
|
0.8
|
3.10
|
402.1
|
635
|
BA19-209
|
411.0
|
415.9
|
4.9
|
3.9
|
8.08
|
959.1
|
1,565
|
BA19-219
|
175.5
|
176.8
|
1.3
|
1.0
|
26.80
|
815.0
|
2,825
|
BA19-220
|
235.1
|
238.8
|
3.7
|
3.0
|
19.11
|
1,692.3
|
3,125
|
BA19-235
|
160.6
|
163.0
|
2.4
|
2.0
|
21.41
|
1,632.4
|
3,238
|
BA19-246
|
216.7
|
218.1
|
1.4
|
1.1
|
10.43
|
99.1
|
881
|
BA19-253
|
169.1
|
171.3
|
2.2
|
1.8
|
7.61
|
1,059.5
|
1,630
|
BA19-257
|
189.5
|
190.9
|
1.4
|
1.1
|
10.14
|
586.3
|
1,347
|
BA19-271
|
69.8
|
70.6
|
0.8
|
0.7
|
6.77
|
8.0
|
516
|
BA19-277
|
88.5
|
91.7
|
3.2
|
2.6
|
6.09
|
109.8
|
566
|
BA19-282
|
140.3
|
146.3
|
6.0
|
4.8
|
3.54
|
276.8
|
542
|
BA19-293
|
118.7
|
119.4
|
0.7
|
0.6
|
0.05
|
543.7
|
547
|
BA19-296
|
129.6
|
130.8
|
1.2
|
1.0
|
6.81
|
503.2
|
1,014
|
BA19-302
|
138.7
|
141.6
|
2.9
|
2.3
|
4.83
|
395.9
|
758
|
BA19-304
|
305.0
|
308.0
|
3.0
|
2.4
|
38.06
|
4,213.8
|
7,068
|
BA19-310
|
150.5
|
152.5
|
2.0
|
1.6
|
6.54
|
124.2
|
615
|
BA19-311
|
331.5
|
335.0
|
3.5
|
2.8
|
1.94
|
459.4
|
605
|
BA19-313
|
195.3
|
199.5
|
4.2
|
3.4
|
4.80
|
226.8
|
587
|
BA19-314
|
313.2
|
315.9
|
2.7
|
2.1
|
3.43
|
503.9
|
761
|
BA19-317
|
218.7
|
221.5
|
2.8
|
2.2
|
3.60
|
573.8
|
844
|
BA19-320
|
399.9
|
402.2
|
2.3
|
1.8
|
3.04
|
287.5
|
516
|
BA19-329
|
401.9
|
414.3
|
12.4
|
9.9
|
2.93
|
476.6
|
696
|
BA19-334
|
266.8
|
267.5
|
0.7
|
0.6
|
4.00
|
346.6
|
647
|
BA19-341
|
186.5
|
192.9
|
6.4
|
5.1
|
6.05
|
190.3
|
644
|
BA19-344
|
362.7
|
365.3
|
2.6
|
2.1
|
8.96
|
840.9
|
1,513
|
BA19-347
|
348.1
|
349.6
|
1.5
|
1.2
|
4.71
|
662.4
|
1,015
|
BA19-353
|
176.3
|
178.2
|
1.9
|
1.5
|
5.81
|
71.1
|
507
|
BA20-361
|
237.4
|
243.6
|
6.2
|
4.9
|
3.77
|
531.7
|
814
|
BA20-362
|
254.4
|
256.2
|
1.8
|
1.5
|
8.60
|
504.8
|
1,150
|
BA20-364
|
248.0
|
249.4
|
1.4
|
1.1
|
9.62
|
1,435.1
|
2,156
|
BA20-367
|
68.7
|
71.7
|
3.0
|
2.4
|
8.22
|
425.0
|
1,041
|
BA20-368
|
211.0
|
212.3
|
1.3
|
1.0
|
9.98
|
1,293.1
|
2,042
|
BA20-373
|
200.3
|
202.6
|
2.3
|
1.8
|
5.63
|
644.2
|
1,067
|
BA20-376
|
269.2
|
271.8
|
2.6
|
2.1
|
1.98
|
406.0
|
555
|
BA20-377
|
225.9
|
226.5
|
0.6
|
0.5
|
3.80
|
357.3
|
642
|
UBR19-01
|
83.9
|
84.7
|
0.8
|
0.6
|
16.77
|
1,532.8
|
2,791
|
UBR19-06
|
29.4
|
35.0
|
5.6
|
4.4
|
23.36
|
2,194.2
|
3,946
|
Babicanora Footwall Vein
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept (m)
|
Approx. True
Width (m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BA19-201
|
256.1
|
257.9
|
1.8
|
1.4
|
6.96
|
624.9
|
1,147
|
BA19-214
|
493.6
|
494.6
|
1.0
|
0.8
|
3.04
|
331.1
|
559
|
BA19-215
|
180.9
|
183.4
|
2.5
|
2.0
|
96.53
|
2,898.9
|
10,139
|
BA19-218
|
168.1
|
168.7
|
0.6
|
0.4
|
30.17
|
1,728.1
|
3,991
|
BA19-257
|
221.8
|
222.6
|
0.8
|
0.6
|
4.62
|
445.5
|
792
|
BA19-264
|
119.6
|
120.6
|
1.0
|
0.8
|
24.45
|
2,063.8
|
3,897
|
BA19-279
|
251.5
|
252.0
|
0.5
|
0.4
|
2.84
|
453.1
|
666
|
BA19-285
|
306.2
|
306.7
|
0.5
|
0.4
|
3.94
|
359.4
|
655
|
BA19-306
|
263.7
|
267.6
|
3.9
|
3.1
|
3.15
|
266.5
|
503
|
BA19-310
|
168.3
|
169.0
|
0.7
|
0.6
|
15.57
|
240.4
|
1,408
|
BA19-314
|
340.2
|
341.2
|
1.0
|
0.8
|
2.40
|
354.7
|
535
|
BA19-317
|
254.6
|
255.6
|
1.0
|
0.8
|
10.92
|
1,232.6
|
2,052
|
BA19-332
|
80.9
|
86.8
|
5.9
|
4.7
|
3.79
|
565.2
|
849
|
BA19-341
|
222.5
|
223.2
|
0.7
|
0.6
|
6.82
|
437.2
|
949
|
UBV19-29
|
3.0
|
3.8
|
0.8
|
0.6
|
8.22
|
2,188.9
|
2,805
|
UBV19-30
|
1.8
|
4.4
|
2.6
|
2.0
|
6.55
|
795.1
|
1,286
|
UBV19-31
|
1.5
|
3.7
|
2.2
|
1.8
|
4.07
|
570.8
|
876
|
BV20-24
|
92.5
|
93.1
|
0.6
|
0.5
|
26.11
|
5,584.6
|
7,543
|
Babicanora Hangingwall Vein
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept (m)
|
Approx. True
Width (m)
|
Au
gpt
|
Ag
gpt
|
AgEq gpt*
|
BA19-215
|
118.9
|
122.0
|
3.1
|
2.5
|
6.59
|
173.3
|
667
|
BA19-260
|
142.2
|
143.0
|
0.8
|
0.6
|
10.74
|
72.9
|
878
|
BA19-287
|
95.2
|
95.8
|
0.6
|
0.5
|
7.50
|
54.9
|
617
|
BA19-296
|
117.6
|
118.4
|
0.8
|
0.6
|
0.05
|
1,038.7
|
1,042
|
BA19-303
|
104.2
|
104.7
|
0.5
|
0.4
|
90.57
|
75.4
|
6,868
|
BA19-329
|
394.5
|
395.4
|
0.9
|
0.7
|
3.91
|
429.9
|
723
|
BA19-342
|
111.8
|
112.6
|
0.8
|
0.6
|
5.92
|
139.0
|
583
|
UBR19-05
|
6.9
|
7.6
|
0.7
|
0.5
|
8.80
|
685.8
|
1,346
|
Babicanora Sur Vein
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept (m)
|
Approx. True
Width (m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BAS20-148
|
219.5
|
220.9
|
1.4
|
1.1
|
5.92
|
392.9
|
837
|
BAS20-156
|
128.0
|
130.2
|
2.2
|
1.8
|
72.22
|
160.8
|
5,577
|
BAS20-158
|
165.6
|
166.2
|
0.6
|
0.5
|
6.70
|
22.0
|
524
|
BAS20-159
|
252.9
|
259.8
|
6.9
|
5.5
|
7.12
|
845.4
|
1,379
|
BAS20-161
|
305.6
|
306.2
|
0.6
|
0.4
|
5.40
|
499.0
|
904
|
*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, Sonora, Mexico, and North Vancouver, BC, Canada, and Bureau Veritas Inspectorate Ltd.
in Hermosillo, Sonora, Mexico.
The drill results in the news release include holes BA19-194 to
BA20-391, UBR19-01 to UBR19-06 and UBD19-01 to UBD19-06.
Holes BA19-194, 196, 199, 200, 204B-208, 210-214, 217, 221-223, 225, 226, 229,
231-233, 237-240, 244, 248, 249, 252, 255, 256, 258, 260-262, 264,
267, 268, 270, 273, 275, 276, 278-281, 283, 285, 286, 289A-291,
294, 295, 298, 299, 301, 303, 305-307, 309, 312, 315, 318, 319,
321, 323, 326, 331, 335, 339, 340, 342, 345, 348, 350, 351,
355-357, 359, 360, BA20-366, 369-372A, 374, 378-385, 387, 390, 391;
UBD19-01, UBD20-02 to 05, 07; UBR19-04 intersected veining but were
below the Company's cutoff grade of 150 gpt AgEq.
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, development and
construction activities at the Las Chispas Property, including
completion of the Feasibility Study. 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, completion of the
Feasibility Study, 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
Chief Executive Officer
SilverCrest Metals Inc.
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SOURCE SilverCrest Metals Inc.