Mr. Eric Fier reports
SILVERCREST EXPANDS BABICANORA HIGH-GRADE FOOTPRINT TO 1.3 KILOMETRES; MORE BONANZA GRADES
Silvercrest Metals Inc. has released additional phase II drill results for the Las Chispas property located in Sonora, Mexico. Stepout drilling of the Babicanora vein continues to intersect high-grade mineralization with an increase in the reported high-grade footprint from 1,000 metres to 1,300 metres along strike length. There are 19 known epithermal veins on the property, nine of which have been drilled, consisting 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. Five to six of these veins will be included in the upcoming maiden resource estimate to be announced in the first quarter of 2018.
Eric Fier, CPG, PEng, and chief executive officer, remarked: "Our drilling on the Babicanora vein continues to expand the high-grade precious-metal mineralization along a drill-tested strike length of 1.3 kilometres. The southeast extension of the Babicanora vein, known as Area 51, after the discovery hole, appears to be expanding in height to over 200 metres and remains open along strike and to depth. Area 51 has multiple bonanza-grade intercepts within its near-surface high-grade footprint. We are only weeks away from finishing our final drill holes for incorporation into the anticipated Las Chispas maiden resource estimate."
The most significant result for this release was returned from hole BA17-63, which intersected 3.5 m (true width) grading 41.05 grams per tonne gold and 1,074.5 g/t silver, or 4,153 g/t silver equivalent (Ag Eq, based on 75 (Ag):1 (Au) and 100-per-cent metallurgical recovery). Also noteworthy is hole BA18-65 at 3.8 m grading 12.13 g/t gold and 1,411.6 g/t silver, or 2,321 g/t Ag Eq and hole BA17-52 at 2.7 m grading 7.20 g/t gold and 593.9 g/t silver, or 1,134 g/t Ag Eq. The associated table summarizes the most significant drill intercepts (uncut, undiluted).
Hole No. FromTo Drill intercept Est. true widthAuAg Ag Eq * (m) (m) (m) (m) (g/t) (g/t) (g/t)BA17-52 340.4 343.9 3.5 2.77.20 593.9 1,134Incl. 341.9 342.8 0.9 0.7 24.60 2,150.0 3,995BA17-53 363.8 366.7 2.9 2.23.15 378.9 615Incl. 365.8 366.7 0.9 0.75.25 632.0 1,026BA17-56 306.4 309.3 2.9 2.10.49 190.1 227BA17-58 340.7 345.7 5.0 3.31.96 176.3 323Incl. 340.7 341.8 1.1 0.83.92 436.0 730Incl. 344.8 345.7 0.9 0.72.94 369.0 590BA17-59 371.5 373.4 1.9 1.31.04 156.5 235BA17-61 322.0 326.2 4.2 3.01.09 173.9 256BA17-63 468.7 473.3 4.5 3.5 41.05 1,074.5 4,153Incl. 468.7 471.3 2.5 1.9 72.50 1,800.0 7,238BA18-64 380.0 383.0 3.0 2.62.21 273.3 439Incl. 381.0 382.0 1.0 0.86.48 801.0 1,287BA18-65 382.6 387.6 5.0 3.9 12.13 1,411.6 2,321Incl. 384.1 385.7 1.6 1.2 27.73 2,718.4 4,798Incl. 386.2 387.6 1.4 1.08.73 887.0 1,542All numbers are rounded.* Ag Eq based on 75 (Ag):1 (Au) and 100-per-cent metallurgical recovery.All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, B.C.
Drill holes BA17-55, 57, 60 and 62 intercepted anomalous mineralization, but are below the company's 150 g/t Ag Eq cut-off. Hole BA17-54 was drilled in the footwall of the Babicanora vein and deviated, missing its intended target. Drill success rate for the Babicanora vein to date is over 70 per cent hits in the high-grade footprint.
Holes BA17-52, 53, 63, 64 and 65 intercepted bonanza grades consisting of argentite, electrum, native silver and visible gold.
Area 51's high-grade footprint (Babicanora vein southeast extension) now measures approximately 400 m long by an average 200 m high by 2.7 m in average true width. Fourteen drill holes have pierced the Area 51 high-grade footprint with an uncut, undiluted weighted-average grade of 12.79 g/t Au and 1,084.4 g/t Ag, or 2,044 g/t Ag Eq. Eleven of the 14 drill holes intercepted bonanza grades greater than 1,000 g/t Ag Eq. This target is open to the southeast and to depth.
The Babicanora vein high-grade footprint, including Area 51, now measures approximately 1,300 m long by an average 160 m high by 3.0 m in average true width. Forty-eight drill holes have pierced the high-grade footprint in the vein with an uncut, undiluted weighted-average grade of 5.89 g/t gold and 480.9 g/t silver, or 923 g/t Ag Eq. Drilling is continuing with six to eight more stepout holes to be incorporated into the upcoming maiden resource.
The company anticipates concluding its expanded phase II program by early February, 2018, with final results to be incorporated into the maiden resource estimate to be announced in the first quarter of 2018. The program will transition into the company's phase III exploration program for 2018, which will include continued stepout and infill drilling at the Babicanora vein, underground drilling on the Las Chispas and Giovanni veins, and initial drilling on several other veins in the district. Approximately 10,000 m to 15,000 m of drilling are planned for the first half of 2018, utilizing six to seven surface and underground drills.
The qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects for this news release is Mr. Fier, CPG, PEng, and chief executive officer for SilverCrest, who has reviewed and approved its contents.
About Silvercrest Metals Inc.
Silvercrest is a Canadian precious metals 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.
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