All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.
Drill holes BA18?EUR?66, 67, 69, 71, 73, 76, 78, 79, and 80 intercepted anomalous mineralization, but are below the Company's 150 gpt AgEq cutoff. Holes BA18?EUR?68, 70, 77, and 81 intercepted grades greater than 1,000 gpt AgEq, consisting of acanthite, argentite, electrum, native silver and visible gold. Holes BA18?EUR?66, 67, and 68 were included in the Company's maiden resource estimate dated February 26, 2018. Hole BA18?EUR?75 deviated and did not intercept intended target. Holes BA18?EUR?67, 71, 73 and 79 showed elevated lead, zinc and copper (including precious metals) with possible transition to increased base metals to depth and southeast along the strike of the Babicanora Vein. Further core review, sampling and assaying is underway on holes southeast and to depth of Area 51 to determine boundaries for potential base metal transition. Results for this review are pending. Drill success rate for the Babicanora Vein to date is approximately 70% of intercepts in the high?EUR?grade footprint.
The Babicanora Vein high?EUR?grade footprint measures approximately 1,500 metres long by 180 metres high by 3.1 metres in average true width. Further drilling is ongoing with six surface drills and one underground drill. Area 51 now measures approximately 500 metres long by 200 metres high by 3.0 metres in average true width. To date, a total of 20 holes have now intersected the high?EUR?grade footprint of Area 51 with an average estimated grade of 10.37 gpt gold and 943.7 gpt silver, or 1,721 gpt AgEq (uncut, undiluted).
The Company commenced Phase III exploration program for further step?EUR?out drilling at the Babicanora Vein, including Area 51, and initial drilling on several other veins in the district. An additional 15,000 to 20,000 metres of drilling are planned by Q3 2018. Other ongoing site work includes continued underground mapping and sampling on the Las Chispas Vein, drilling test wells for site water, permitting work, and a review of the maiden resource model for optimization and update.
The Company's maiden resource report for the estimate announced on February 26, 2018 will be filed on SEDAR later this week.
The Qualified Person under National Instrument 43?EUR?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.