SilverCrest Announces Further Phase III Drill Results at Las Chispas Property

SilverCrest Metals Inc. (TSXV:SIL) announced further Phase III drill results for the Las Chispas Property located in Sonora, Mexico.

Highlights are as follows:

• 2.2 Metres Grading 7,436 grams per tonne gold equivalent
• 2.1 Metres Grading 1,286 grams per tonne gold equivalent
• 1.4 Metres Grading 6,695 grams per tonne gold equivalent

As quoted in the press release:

The most significant result for this release was returned from Hole BAN18-10, which intersected 2.2 metres (true width) grading 61.36 grams per tonne (gpt) gold and 2,833.5 gpt silver, or 7,436 gpt silver equivalent (“AgEq”, based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 86.6 percent silver and 98.9 percent gold). Also noteworthy are Hole BAN18-26 at 1.4 metres grading 51.43 gpt gold and 2,838.0 gpt silver, or 6,695 gpt AgEq and Hole BAN18-27 at 2.1 metres grading 6.54 gpt gold and 795.3 gpt silver, or 1,286 gpt AgEq. 

Eric Fier, CPG, P.Eng and CEO, commented:

We continue with our successful Phase III expansion drill program with further high-grade silver-gold intercepts in multiple veins at Las Chispas. This most recent drilling of the Babicanora Norte vein intercepted native silver, silver oxides, and fine-grained free gold in several holes along an estimated strike length of 900 metres, expanded from the previous 200 metres. We now have identified 30 epithermal veins on the property with a total cumulative strike length of approximately 20 kilometres, of which 5 kilometres have been partially drilled and only 3.5 kilometres were included in the maiden resource. We are currently step-out drilling with nine core rigs at the Babicanora Norte, Granaditas, Luigi and Babicanora veins, including the Area 51 southeast extension. We are systematically working towards an updated resource in Q3, 2018.