SilverCrest Reports Further Continuous High Grade Underground Results

SilverCrest Metals (CVE:SIL) has reported additional results from the ongoing underground channel sampling program and extension of its surface drilling program at its Las Chispas Project in Sonora, Mexico.
As quoted in the press release:

Las Chispas is a historic silver-gold district with over six kilometres of existing underground workings, which apparently were not previously drilled before their acquisition by the Company. The project is in a prolific mining area which currently hosts two nearby precious metal operations. Only three veins (Las Chispas, William Tell and Babicanora) of the fourteen historically reported veins on the Las Chispas Property have been previously mined extensively during the early 1900’s. SilverCrest’s initial focus is on these three veins. For more information, please refer to our website at www.silvercrestmetals.com.

N. Eric Fier, president and CEO, said:

We are pleased with the results received to date from the underground rehabilitation program and early indications of mineralization in core from the surface drilling program at Las Chispas. On April 27, 2016, the SilverCrest team safely ascended to the 400 level of the Las Chispas vein and started the first systematic channel sampling in over 90 years. We are sampling underground areas that are easily accessible in our efforts to confirm high grade continuity at Las Chispas, while targeting areas for potential resource estimation and future bulk sampling. Based on our initial success, we have elected to expand the surface drill program to further test extensions of mineralization. The Company is well financed with $5.6 million in the cash to cover all intended exploration expenditures in 2016.

Click here to read the full press release.