Silvercrest Metals Inc. has released additional phase II drill results for the Las Chispas property located in Sonora, Mexico. Infill drilling of the Babicanora vein continues to intersect high-grade mineralization. With the latest results, Silvercrest has drill tested and intersected high-grade mineralization for over 1,000 metres of strike length at the Babicanora vein. There are 19 known epithermal veins on the property, including nine which have been drilled, and consist of the Babicanora, Babicanora Footwall, Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas and Amethyst veins. Silvercrest has intersected high-grade silver-gold mineralization in each of the nine veins drilled to date.
N. Eric Fier, CPG, PEng, president and chief executive officer, remarked: “Our continued drilling of the Babicanora vein has shown consistent high grades along the drill-tested strike length of over one kilometre, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora vein to test for further extensions by mid-January, 2018, in anticipation of releasing a maiden resource estimate for the Las Chispas property in February, 2018.”
The most significant result for this release was returned from hole BA17-51, which intersected 3.1 metres (true thickness) grading 40.45 grams per tonne gold and 5,375.2 grams per tonne silver, or 8,409 grams per tonne silver equivalent (based on 75:1 (Ag:Au) and 100-per-cent metallurgical recovery). Also noteworthy is hole BA17-49 at 2.0 metres grading 18.20 grams per tonne gold and 1,791.4 grams per tonne silver, or 3,158 grams per tonne silver equivalent and hole BA17-46 at 1.2 metres grading 54.20 grams per tonne gold and 2,020.7 grams per tonne silver, or 6,086 grams per tonne silver equivalent. The attached table summarizes the most significant drill intercepts (uncut, undiluted) for this release.
Hole No. From To Drill intercept Estimated true Au Ag AgEq* (m) (m) (m) thickness (m) (g/t) (g/t) (g/t) BA17-46 6.5 8.1 1.6 1.2 54.20 2,020.7 6,086 BA17-47 268.5 272.0 3.5 3.2 4.96 859.1 1,231 Including 268.5 270.5 2.0 1.8 7.49 1,364.0 1,926 BA17-48 289.8 293.2 3.4 3.1 6.82 343.1 855 Including 289.8 290.7 0.9 0.7 15.90 112.2 1,310 324.2 325.8 1.6 1.4 5.10 438.8 821 BA17-49 305.0 305.9 0.9 0.8 0.05 229.0 233 324.3 326.5 2.2 2.0 18.20 1,791.4 3,158 Including 324.3 324.9 0.6 0.5 68.50 6,760.0 11,897 BA17-50 313.3 318.7 5.4 5.0 1.95 265.2 411 Including 313.9 315.3 1.4 1.2 4.18 213.1 527 BA17-51 265.9 269.2 3.3 3.1 40.45 5,375.2 8,409 Including 267.4 268.7 1.3 1.1 96.30 12,773.5 19,996 Note: All numbers are rounded. * AgEq is based on 75:1 (Ag:Au) and 100-per-cent metallurgical recovery.
All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, B.C., Canada.
Drill holes BA17-44 and BA17-45 intercepted anomalous mineralization but are below the company’s 150-gram-per-tonne-silver-equivalent cut-off.
Holes BA17-46, BA17-48 and BA17-49 intercepted bonanza grades in the Babicanora Footwall vein. Hole BA17-51 intercepted bonanza grades consisting of coarse argentite, electrum, native silver and gold.
The company plans to continue with stepout and infill drilling, consisting of an additional 10 to 15 surface holes, on the Babicanora vein as well as continue underground drilling on the Las Chispas and Giovanni veins. Furthermore, the company continues to collect trench samples from the surface dumps. The company anticipates concluding its expanded phase II program by mid-January, 2018, in time for results to be incorporated into the maiden resource estimate in February, 2018.
The qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, for this news release is N. Eric Fier, CPG, PEng, and president and chief executive officer for Silvercrest, who has reviewed and approved its contents.
About Silvercrest Metals Inc.
Silvercrest is a Canadian precious metal exploration company headquartered in Vancouver, B.C., that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historical precious metal districts. The company’s current focus is on the high-grade, historical Las Chispas mining district in Sonora, Mexico. Silvercrest is the first company to successfully drill test the historical Las Chispas project, resulting in numerous discoveries.