- 2.3m (ETW) Grading 87.05 gpt
Au and 6,469.2 gpt Ag, or 14,034 gpt AgEq
- 3.7m (ETW) Grading 40.42 gpt
Au and 6,089.4 gpt Ag, or 9,602 gpt AgEq
TSX: SIL | NYSE American: SILV
VANCOUVER, BC, April 15, 2021 /PRNewswire/ - SilverCrest Metals
Inc. ("SilverCrest" or the "Company") is pleased to announce
additional in-fill and expansion drill results from the Babi Vista
Vein Splay ("Splay"), Babi Vista Vein ("Babi Vista"), Granaditas 1
Vein, Granaditas 2 Vein, and adjacent hangingwall ("HW") and
footwall ("FW") veins in the Babicanora Area of its Las Chispas
Project ("Las Chispas" or the "Project") located in Sonora, Mexico (see following Tables and
attached Figures).
Highlights
- In-fill and expansion drill results being reported in this news
release represent an additional 78 holes, totaling approximately
29,308 metres completed since the latest news release for Babi
Vista, Splay and Granaditas veins.
- Results are in areas with mineral resources (see Feasibility
Studyi announced on February 2,
2021) and in close proximity to planned underground
development.
- Confirmed southeastern vein continuity and convergence of the
Babi Vista, Splay and Granaditas veins. Mineral resources, together
with exploration high-grade footprints, can now be traced for an
estimated 1.3 kilometres of vein strike length.
- The latest 31 drill holes within the high-grade footprint of
the Splay have an average estimated true width ("ETW") of 0.91
metres grading 16.12 grams per tonne ("gpt") gold ("Au") and
1,351.5 gpt silver ("Ag"), or 2,752 gpt silver equivalent ("AgEq",
86.9:1 Au:Ag ratio, see note below tables). This compares to the
Splay's Inferred Mineral Resource that contains 13.9 million AgEq
ounces within 211,363 tonnes grading 13.00 gpt Au and 909.4 gpt Ag,
or 2,039 gpt AgEq with an ETW of 1.27 metres.
- The seven (7) mineralized drill holes in the Granaditas 1 Vein,
included in this release, have an average ETW of 1.57 metres
grading 19.24 gpt Au and 5,095.1 gpt Ag, or 6,767 gpt AgEq. This
compares to the vein's Inferred Mineral Resource that contains 1.1
million AgEq ounces within 63,157 tonnes grading 3.20 gpt Au and
260.0 gpt Ag, or 538 gpt AgEq with an ETW of 0.61 metres.
- Significant drilling results:
-
- Splay - Hole BV21-252 intercepted an ETW of 2.27 metres grading
87.05 gpt Au and 6,469.2 gpt Ag, or 14,034 gpt AgEq;
- Granaditas 1 Vein – Hole BV20-221 intercepted an ETW of 3.65
metres grading 40.42 gpt Au and 6,089.4 gpt Ag or 9,602 gpt AgEq;
and
- Granaditas 1 Vein - Hole GR21-28 intercepted an ETW of 0.40
metres grading 114.00 gpt Au and 78,872.0 gpt Ag, or 88,779 gpt
AgEq.
- Approximately 90% of the planned 2021 in-fill drilling has been
completed for the Splay.
- Discovery of two additional "blind" veins in the hangingwall
and footwall of Babi Vista and Splay.
- Nine (9) drill rigs (6 surface core drills at Las Chispas and 3
at Picacho) are operating as part of the Company's 2021 exploration
and optimization program.
The Company's current focus at Las Chispas is to in-fill (for
resource conversion) and potentially expand the existing
mineralized footprints in areas close to planned underground
development. Currently, priority drilling is active at the Splay
and Granaditas veins which host Inferred Mineral Resources that
were not included in the Feasibility Study mine plan. The
Feasibility Study outlines planned underground development which
terminates within approximately 180 metres of high-grade drilling
intercepts in the Splay, making this a priority target area for
resource conversion to reserves. The results from the 2021 drill
program will provide valuable information when evaluating potential
opportunities to optimize the initial years of the proposed Las
Chispas production profile. The in-fill drilling program at the
Splay is estimated to be completed by the end of Q2 2021.
N. Eric Fier, CPG, P.Eng, and
CEO, remarked, "We are very encouraged by the results from the Babi
Vista and Granaditas areas, including the Babi Vista Vein Splay,
which support our goal to target potential resource conversion
proximal to planned and existing underground workings. Our
systematic and aggressive approach to exploration continues to
yield positive drill results in areas outside of the mine plan and
further improves our knowledge of Las Chispas geology and
mineralization. The primary aim of our 2021 program will be to grow
the Mineral Resources and Reserves and complete optimization work
to support further enhancements to the already robust economics of
the Las Chispas Project. Additional Reserves increase the potential
for optimization of the mine plan and allow us to further study the
Project's production throughput and mine life expansion."
The following tables summarize all the significant drill
intercepts (uncapped, undiluted) for this release:
Babi Vista Vein Splay
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BV20-227
|
307.05
|
308.20
|
1.15
|
0.92
|
24.75
|
2,003.7
|
4,155
|
Incl.
|
307.60
|
308.20
|
0.60
|
0.48
|
35.80
|
3,010.0
|
6,121
|
BV20-229
|
294.00
|
294.50
|
0.50
|
0.40
|
33.70
|
3,320.0
|
6,249
|
BV20-231A§
|
317.00
|
318.00
|
1.00
|
0.80
|
2.78
|
357.0
|
599
|
BV20-234
|
352.55
|
355.55
|
3.00
|
2.40
|
8.94
|
1,011.0
|
1,788
|
Incl.
|
355.05
|
355.55
|
0.50
|
0.40
|
47.90
|
5,520.0
|
9,683
|
BV20-235
|
338.85
|
342.60
|
3.75
|
3.00
|
2.36
|
219.6
|
424
|
Incl.
|
342.10
|
342.60
|
0.50
|
0.40
|
7.26
|
702.0
|
1,247
|
BV20-237
|
320.50
|
321.15
|
0.65
|
0.52
|
19.45
|
1,465.0
|
3,155
|
BV20-238
|
354.50
|
356.60
|
2.10
|
1.68
|
5.30
|
591.2
|
1,052
|
BV20-240
|
309.93
|
311.40
|
1.47
|
1.18
|
18.10
|
1,330.0
|
2,903
|
BV20-241
|
334.15
|
335.27
|
1.12
|
0.90
|
1.51
|
152.0
|
283
|
BV20-242
|
282.37
|
282.94
|
0.57
|
0.46
|
3.58
|
496.0
|
807
|
BV20-243
|
314.22
|
315.23
|
1.01
|
0.81
|
3.92
|
350.0
|
691
|
BV20-244
|
323.55
|
327.25
|
3.70
|
2.96
|
1.40
|
214.6
|
336
|
BV20-248
|
289.80
|
290.30
|
0.50
|
0.40
|
5.58
|
484.0
|
969
|
BV21-250
|
280.69
|
281.41
|
0.72
|
0.58
|
1.23
|
97.0
|
204
|
BV21-251
|
364.50
|
365.40
|
0.90
|
0.72
|
5.26
|
348.0
|
805
|
BV21-252
|
335.26
|
338.10
|
2.84
|
2.27
|
87.05
|
6,469.2
|
14,034
|
Incl.
|
335.80
|
337.10
|
1.30
|
1.04
|
185.65
|
13,958.6
|
30,092
|
BV21-257
|
368.64
|
369.70
|
1.06
|
0.85
|
61.40
|
6,040.0
|
11,376
|
BV21-258
|
329.42
|
330.00
|
0.58
|
0.46
|
0.84
|
103.0
|
176
|
BV21-259
|
393.75
|
394.25
|
0.50
|
0.40
|
17.95
|
1,500.0
|
3,060
|
BV21-261
|
376.46
|
376.96
|
0.50
|
0.40
|
34.50
|
2,140.0
|
5,138
|
BV21-262
|
289.28
|
291.05
|
1.77
|
1.42
|
6.10
|
659.2
|
1,189
|
BV21-264
|
395.50
|
396.00
|
0.50
|
0.40
|
2.57
|
125.0
|
348
|
BV21-266
|
271.10
|
271.80
|
0.70
|
0.56
|
4.15
|
530.0
|
891
|
BV21-267
|
276.40
|
276.90
|
0.50
|
0.40
|
5.01
|
581.0
|
1,016
|
BV21-268
|
345.85
|
346.71
|
0.86
|
0.69
|
3.41
|
236.0
|
532
|
BV21-269
|
392.44
|
392.94
|
0.50
|
0.40
|
15.90
|
1,145.0
|
2,527
|
BV21-270
|
280.85
|
281.40
|
0.55
|
0.44
|
2.94
|
374.0
|
629
|
BV21-274
|
405.75
|
406.25
|
0.50
|
0.40
|
56.90
|
3,850.0
|
8,795
|
BV21-276
|
264.90
|
265.45
|
0.55
|
0.44
|
5.24
|
668.0
|
1,123
|
BV21-284
|
381.14
|
381.75
|
0.61
|
0.49
|
19.85
|
1,970.0
|
3,695
|
BV21-287
|
279.70
|
280.30
|
0.60
|
0.48
|
0.94
|
134.0
|
216
|
Weighted
Average
|
1.16
|
0.91
|
16.12
|
1,351.5
|
2,752
|
Babi Vista Footwall and Granaditas 1
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
Vein
|
BV20-221
|
170.50
|
175.06
|
4.56
|
3.65
|
40.42
|
6,089.4
|
9,602
|
Granaditas
1
|
Incl.
|
171.00
|
171.83
|
0.83
|
0.66
|
80.00
|
6,970.0
|
13,922
|
Babi Vista
FW
|
Incl.
|
172.43
|
174.05
|
1.62
|
1.30
|
66.20
|
11,685.0
|
17,438
|
Babi Vista
FW
|
BV20-222
|
106.12
|
108.10
|
1.98
|
1.58
|
2.08
|
216.4
|
398
|
Granaditas
1
|
BV20-231A§
|
237.61
|
238.20
|
0.59
|
0.47
|
0.92
|
85.2
|
165
|
Babi Vista
FW
|
BV20-232
|
261.55
|
262.05
|
0.50
|
0.40
|
7.17
|
1,155.0
|
1,778
|
Babi Vista
FW
|
BV20-241
|
256.70
|
257.30
|
0.60
|
0.48
|
1.57
|
185.0
|
321
|
Babi Vista
FW
|
BV20-244
|
252.30
|
252.80
|
0.50
|
0.40
|
5.68
|
838.0
|
1,332
|
Babi Vista
FW
|
BV21-264
|
349.00
|
349.50
|
0.50
|
0.40
|
3.02
|
245.0
|
507
|
Babi Vista
FW
|
BV21-273
|
397.00
|
397.50
|
0.50
|
0.40
|
1.38
|
92.7
|
213
|
Babi Vista
FW
|
BV21-281
|
360.80
|
361.30
|
0.50
|
0.40
|
1.92
|
177.0
|
344
|
Babi Vista
FW
|
GR21-24
|
119.7
|
121.50
|
1.80
|
1.44
|
4.60
|
530.9
|
931
|
Granaditas
1
|
Incl.
|
121.00
|
121.50
|
0.50
|
0.40
|
13.65
|
1,460.0
|
2,646
|
Babi Vista
FW
|
GR21-25
|
138.00
|
140.15
|
2.15
|
1.72
|
2.61
|
386.0
|
613
|
Granaditas
1
|
GR21-26
|
152.47
|
153.19
|
0.72
|
0.58
|
1.13
|
134.0
|
232
|
Granaditas
1
|
GR21-27
|
258.80
|
260.80
|
2.00
|
1.60
|
1.82
|
169.3
|
327
|
Granaditas
1
|
GR21-28
|
141.72
|
142.22
|
0.50
|
0.40
|
114.00
|
78,872.0
|
88,779
|
Granaditas
1
|
Weighted
Average
|
1.24
|
0.99
|
15.80
|
4,095.9
|
5,469
|
|
Weighted Average
w/o GR21-28
|
1.30
|
1.04
|
12.89
|
1,883.6
|
3,004
|
|
Babi Vista and Granaditas 2 Vein
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
Vein
|
BV20-238
|
305.60
|
306.10
|
0.50
|
0.40
|
6.95
|
868.0
|
1,472
|
Babi Vista
Main
|
BV20-242
|
234.36
|
234.93
|
0.57
|
0.46
|
3.20
|
381.0
|
659
|
Babi Vista
Main
|
BV21-256
|
204.92
|
205.48
|
0.56
|
0.45
|
1.28
|
113.0
|
224
|
Babi Vista
Main
|
BV21-283
|
223.50
|
226.14
|
2.64
|
2.11
|
4.87
|
325.1
|
748
|
Babi Vista
Main
|
BV21-287
|
331.39
|
331.90
|
0.51
|
0.41
|
2.85
|
282.0
|
530
|
Babi Vista
Main
|
GR21-26
|
120.50
|
121.04
|
0.54
|
0.43
|
7.15
|
764.0
|
1,385
|
Granaditas
2
|
GR21-29
|
141.26
|
141.78
|
0.52
|
0.42
|
4.70
|
559.0
|
967
|
Granaditas
2
|
Weighted
Average
|
0.83
|
0.67
|
4.56
|
414.3
|
810
|
|
Babi Vista Hangingwall
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BV20-234
|
376.00
|
376.50
|
0.50
|
0.40
|
5.29
|
570.0
|
1,030
|
BV21-256
|
305.50
|
306.03
|
0.53
|
0.42
|
1.36
|
117.0
|
235
|
BV21-257
|
424.47
|
425.10
|
0.63
|
0.50
|
2.48
|
170.0
|
386
|
BV21-279
|
484.54
|
485.05
|
0.51
|
0.41
|
1.20
|
170.0
|
274
|
Weighted
Average
|
0.54
|
0.43
|
2.55
|
249.2
|
471
|
Unnamed Veins
Hole
ID
|
From
(m)
|
To
(m)
|
Drilled
Intercept
(m)
|
Approx.
True
Thickness
(m)
|
Au
gpt
|
Ag
gpt
|
AgEq
gpt*
|
BV20-244
|
415.00
|
415.50
|
0.50
|
0.40
|
8.21
|
1,340.0
|
2,053
|
BV20-245
|
434.50
|
435.00
|
0.50
|
0.40
|
1.23
|
134.0
|
241
|
BV20-231A§
|
211.80
|
212.30
|
0.50
|
0.40
|
2.68
|
258.0
|
491
|
BV21-261
|
270.53
|
271.05
|
0.52
|
0.42
|
2.54
|
239.0
|
460
|
BV21-277
|
316.25
|
316.77
|
0.52
|
0.42
|
1.23
|
121.0
|
228
|
BV21-284
|
179.06
|
179.70
|
0.64
|
0.51
|
1.94
|
484.0
|
653
|
BV21-289
|
189.90
|
190.76
|
0.86
|
0.69
|
0.78
|
101.0
|
163
|
Note:
|
all numbers are
rounded.
|
|
Cutoff grade of 150
gpt AgEq with a minimum width of 0.5 metres.
|
|
ETW at 80% of drilled
intercept width.
|
|
* AgEq is based on
gold to silver ratio of 86.9:1 calculated using US$1,410/oz Au and
US$16.60/oz Ag, with average metallurgical recoveries of 96% Au and
94% Ag.
|
|
§ "A"
denotes a redrill of a hole related to deviation or loss of
core.
|
All assays were completed by ALS Chemex in Hermosillo, Sonora, Mexico, and North Vancouver, BC, Canada.
The drill results in the news release include holes: BV20-223 to
BV-20-226, BV20-228, BV-20-230, BV20-233, BV20-236, BV20-239,
BV20-246, BV20-247, BV20-249, BV21-253 to BV21-255, BV21-260,
BV21-263, BV21-265, BV21-271, BV21-272, BV21-275, BV21-278,
BV21-280, BV21-282, BV21-285, BV21-286A and
BV21-288 intersected veining in the Babicanora Area but were
below the Company's cutoff grade of 150 gpt AgEq over a minimum
width of 0.50 metres (ETW).
Results being reported in this news release are up to and
including holes BV21-289 and GR21-29 representing an additional 78
holes, totaling approximately 29,308 metres completed since the
latest news release for the Babi Vista, Splay and Granaditas veins
dated November 16, 2020. These
results include 51 holes which have intersected mineralization
above a cutoff grade of 150 gpt AgEq over a minimum width of 0.50
metres (see attached Figures). This cut-off grade is
consistent with what was used in the Feasibility Study Mineral
Resource Estimation. A variable cut-off grade strategy was used to
determine Mineral Reserves in the Feasibility Study.
The Inferred Mineral Resource Estimate for the Splay is based on
drilling results of 28 holes (totaling 10,216 metres) up to and
including hole BV20-217 and totals 211,363 tonnes grading 13.00 gpt
Au and 909.4 gpt Ag, or 2,039 gpt AgEq (totaling 13.9 million AgEq
ounces) with an average ETW of 1.27 metres. Results from 31
drillhole intercepts at the Splay included in this release have a
weighted average of 0.91 metres ETW grading 16.12 gpt Au and
1,351.5 gpt Ag, or 2,752 AgEq. These results include 16 drillhole
intercepts greater than 1,000 gpt AgEq that surround the previous
high-grade holes BV20-201 and BV20-203 (see news release dated
November 16, 2020) and have an
average ETW of 1.18 metres grading 28.20 gpt Au and 2,310.7 gpt Ag,
or 4,761 gpt AgEq.
In-fill drilling has confirmed the presence of additional
high-grade mineralization in the Granaditas veins with hole GR21-28
intercepting 0.40 metres ETW of 114.00 gpt Au and 78,872.0 gpt Ag,
or 88,779 gpt AgEq. Intercepts for seven (7) of seventeen
(17) in-fill holes reported in this news release for Granaditas
have intercepted mineralization with a weighted average intercept
of 1.57 metres (ETW), grading 19.24 gpt Au and 5,095.1 gpt Ag, or
6,767 gpt AgEq. When hole GR21-28 is excluded, the weighted
average is 1.76 metres (ETW), grading 15.65 gpt Au and 2,302.6 gpt
Ag, or 3,663 gpt AgEq. The Granaditas veins currently hosts a
combined Inferred Mineral Resource of 1.1 million AgEq ounces with
63,157 tonnes grading 3.20 gpt Au and 260.0 gpt Ag, or 538 gpt AgEq
and an ETW of 0.61 metres, based on drilling results up to and
including hole GR18-23. While drilling has not substantially
expanded the Granaditas Resource footprint (see attached Figures),
the intersection of exceptionally high-grade in GR21-28 is
important geologically for understanding the Babicanora Area as it
suggests that mineralization is not cut-off by the Granaditas
Fault, a concept which can be further tested in adjacent veins. As
drilling continues in the area, the in-fill drilling program
intends to reduce the drill spacing to approximately 30 metres at
Granaditas 1 Vein, from approximately 45 metres previously.
Results have confirmed southeastern convergence of the Babi
Vista, Babi Vista Splay and Granaditas veins. High-grade precious
metal mineralization including Indicated and Inferred Mineral
Resources can now be traced along a continuous 1.3 kilometre vein
strike length from Babi Vista to Granaditas.
Two new veins are reported in this release in the footwall and
hangingwall to the Babi Vista and Splay veins. The Unnamed 1
Vein is located less than 50 metres to the west of the Splay,
beyond the extent of previous drilling. The Unnamed 2 Vein is
located approximately 15 metres to the east of Babi Vista.
These veins remain exploration targets and will continue to be
tested as part of the ongoing drilling program.
The Company currently has six (6) surface core drills
operating at Las Chispas. These drill rigs are completing
additional in-fill and expansion holes for the Babi Vista Vein
Splay, Granaditas veins, Babi Vista HW and FW veins, unnamed veins
and El Muerto Zone. The Company also has three (3) drill rigs
currently active at its El Picacho
property near Las Chispas.
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-based
precious metals exploration and development 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 ongoing initiative is to
increase its asset base by expanding current Resources and
Reserves, acquiring and developing high-margin precious metal
projects, and ultimately operating multiple silver-gold mines in
the Americas. SilverCrest's principal focus is currently its Las
Chispas Project or "Project", which is located approximately 180
kilometres northeast of Hermosillo,
Sonora, Mexico. The Company has recently filed a Feasibility
Study on the Project and is proceeding with mine construction.
Production startup is targeted for mid-2022. 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" and
"forward-looking information" (collectively "forward-looking
statements") within the meaning of applicable Canadian and
United States securities
legislation. These include, without limitation, statements with
respect to: the strategic plans, timing and expectations for the
Company's exploration programs at the Las Chispas Project and the
startup of production at the Las Chispas Mine by mid-2022. 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
Chief Executive Officer
SilverCrest Metals Inc.
_______________________
|
i Feasibility Study: Refer to the
technical report titled, "Technical Report & Feasibility Study
on the Las Chispas Project, Sonora, Mexico", with an effective date
January 4, 2021 available on the Company's website
www.silvercrestmetals.com.
|
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SOURCE SilverCrest Metals Inc.