SilverCrest Metals Reports High-Grade Intercepts of 1,630 gpt, 2,076 gpt, and 389 gpt Silver Equivalent from 3 Holes - Video Available on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2017) - SilverCrest Metals (TSXV: SIL) (OTCQX: SVCMF) has released further surface and underground drill results from its ongoing Phase II Exploration Program at its Las Chispas Property. The company anticipates completing the program at its Sonora, Mexico-based Las Chispas Property by mid-January, which will include drilling a further 4,000 to 6,000 metres, primarily on the Babicanora extension.
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The surface and underground drill program is designed to define readily accessible high-grade areas in the historic underground workings in the Las Chispas Vein and further define the Giovanni Vein.
The company is currently exploring nine of the 19 known epithermal veins on the Property with efforts focused on four of these veins, with the results to be incorporated into SilverCrest's maiden resource estimate anticipated in Q1 2018.
The most significant results for this release are in Hole LC17-72, which returned 4.0 metres grading 18.61 grams per tonne gold and 696.2 grams per tonne silver, or 2,092 grams per tonne silver equivalent, including 0.8 metres grading 92.60 grams per tonne gold and 2,890.0 grams per tonne silver, or 9,835 grams per tonne silver equivalent.
Other significant results include Hole LC17-68 at 2.0 metres grading 5.85 gpt gold and 1,191.5 gpt silver, or 1,630 gpt silver equivalent, Hole LCU17-02 at 2.2 metres grading 9.42 gpt gold and 1,369.3 gpt silver, or 2,076 gpt silver equivalent, and Hole LCU17-04 at 6.3 metres grading 1.97 gpt gold and 241.4 gpt silver, or 389 gpt silver equivalent.
The table summarizes the most significant drill results for this release in the Las Chispas Area only.
| HOLE No. | From (metres) | To (metres) | Estimated True Thickness (metres) | Gold (gpt) | Silver (gpt) | Silver Equivalent (gpt) 75 Ag:1 Au | Vein |
| LC17-57 | 160.3 | 160.8 | 0.5 | 1.28 | 167.0 | 263 | Varela |
| LC17-58 | 319.9 | 321.9 | 2.0 | 0.28 | 221.5 | 243 | Un-Named |
| 440.8 | 443.0 | 2.2 | 0.98 | 172.5 | 246 | Las Chispas | |
| LC17-60 | 100.6 | 102.7 | 2.1 | 2.28 | 469.5 | 641 | La Blanquita |
| LC17-61 | 115.5 | 117.1 | 1.6 | 2.39 | 516.0 | 695 | La Blanquita |
| LC17-65 | 243.0 | 244.5 | 1.5 | 13.22 | 2,006.7 | 2,999 | Un-Named |
| LC17-66 | 134.2 | 135.6 | 1.4 | 1.15 | 132.2 | 218 | Giovanni |
| 221.7 | 222.7 | 1.0 | 1.30 | 160.0 | 258 | Un-Named | |
| LC17-68 | 106.0 | 108.0 | 2.0 | 5.85 | 1,191.5 | 1,630 | Giovanni |
| 138.9 | 140.0 | 1.1 | 0.05 | 320.0 | 324 | Un-Named | |
| LC17-69 | 168.2 | 169.8 | 1.6 | 1.95 | 252.0 | 398 | Las Chispas & Giovanni |
| Includes | 168.2 | 168.7 | 0.5 | 4.15 | 512.0 | 823 | |
| 179.1 | 180.9 | 1.8 | 0.32 | 306.9 | 330 | Un-Named | |
| LC17-70 | 157.8 | 158.3 | 0.5 | 0.17 | 239.0 | 252 | Las Chispas |
| LC17-72 | 115.0 | 119.0 | 4.0 | 18.61 | 696.2 | 2,092 | Giovanni |
| Includes | 115.0 | 115.8 | 0.8 | 92.60 | 2,890.0 | 9,835 | |
| 178.9 | 179.6 | 0.7 | 1.18 | 176 | 265 | Las Chispas | |
| 246.9 | 247.9 | 1.0 | 1.43 | 196 | 303 | Un-Named | |
| 254.9 | 256.7 | 1.8 | 3.41 | 265.4 | 521 | Un-Named | |
| LCU17-02 | 6.8 | 10.0 | 2.2 | 9.42 | 1,369.3 | 2,076 | Las Chispas |
| LCU17-03 | 0.0 | 2.0 | 2.0 | 0.84 | 114.0 | 177 | Las Chispas |
| LCU17-04 | 34.3 | 42.5 | 6.3 | 1.97 | 241.4 | 389 | Tajo Chico |
| Includes | 34.3 | 36.3 | 1.7 | 1.99 | 219.6 | 369 | |
| Includes | 40.3 | 41.0 | 0.4 | 13.75 | 1,745.0 | 2,776 | |
| Includes | 42.0 | 42.5 | 0.4 | 3.43 | 436.0 | 693 | |
| LCU17-05 | 54.1 | 54.6 | 0.5 | 1.65 | 253.0 | 377 | Tajo Chico |
| 76.7 | 77.8 | 1.1 | 1.41 | 213.4 | 319 | Giovanni | |
| LCU17-07A | 46.5 | 49.5 | 2.5 | 1.45 | 145.7 | 254 | Tajo Chico |
Historic Las Chispas Mine underground workings have been open for over 80 years with minor backfill and no ground support. Several prominent high-grade historic pillars remain intact in the mine and are readily accessible via a historic haulage route.
With further detailed underground channel sampling, the company will be assessing the optimal way to incorporate these pillars and intact mineralization into the upcoming resource estimate. These pillars could potentially be incorporated into plans for extraction of a permitted bulk sample for offsite processing in 2018.
N. Eric Fier, CPG, P.Eng, President and CEO, stated: "These results are building on our previous drilling and underground sampling program, which has demonstrated intact semi-continuous high-grade mineralization for the Las Chispas and Giovanni veins. As part of our expanded Phase II Exploration Program, we intend to continue with underground drilling and channel sampling on the Las Chispas and Giovanni veins through Q1 2018. We remain on track to deliver a maiden resource estimate in Q1 2018 which will include the Las Chispas, Giovanni, William Tell and Babicanora veins."
For more information, please visit the company's website www.SilverCrestMetals.com, contact Fred Cooper, Investor Relations, at 604-694-1730 or 1-866-691-1730, or email [email protected].
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