SilverCrest announces new high-grade discovery at Las Chispas, shares up

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SilverCrest Metals Inc. [SIL-TSX; SILV-NYSE American] announced drill results for its newest high-grade discovery, the Babi Vista Splay Vein, and in-fill drilling for the northwest extension of the Babi Vista Vein at its Las Chispas property in Sonora, Mexico.

The drill program for Babi Vista is designed to expand high-grade precious metal mineralization along strike and to depth of the vein. Included in this release are results for 129 holes which include 24 expansion holes for the Babi Vista Splay and 105 in-fill holes for Babi Vista.

The Babi Vista Splay is located in the southeast extension of the Babi Vista Vein and appears to be a splayed quartz argentite-rich vein in the hanging wall of Babi Vista.

Highlights for Discovery of Babi Vista Splay Vein

Twenty-four core holes have been drilled to date. There is a high-grade footprint of approximately 300 metres along strike and average height of 175 metres. Weighted average results (true width – TW, uncut, undiluted) are 1.6 metres grading 74.27 g/t gold and 3,437.1 g/t silver, or 9,007 g/t silver equivalent (AgEq, based on 75 Ag:1 Au) within the high-grade footprint.

The average is dominated by hole BV20-201 with 2.4 metres (TW) grading 555.36 g/t gold and 19,452.8 g/t silver, or 61,105 g/t AgEq. When excluding this hole, the weighted average results are 1.5 metres grading 10.35 g/t gold and 1,309.1 g/t silver, or 2,085 g/t AgEq.

Hole BV20-201 establishes a new grade-thickness record of 189,426 gram-metres which compares to the previous record of 125,111 gram-metres (1.7 metres grading 73,595 g/t AgEq in Hole BV20-60).

The discovery is near ongoing underground work and is readily accessible for potential early mining.  It will be included as Inferred Resources for the upcoming resource estimation in the ongoing feasibility study.

Babi Vista Vein in-fill drill results confirmed high-grade mineralization in the vein to the northwest. These results will be used for re-classification of mineral resources for consideration in the upcoming maiden reserves in the ongoing feasibility study. While drilling for the Babi Vista Splay and Babi Vista Vein, the Babi Vista Footwall (FW), Granaditas and several previously unknown and unnamed veins were also intersected. See company press release for more details.

SilverCrest shares gained $0.59 to $13.56 on a volume of 240,400 shares traded.

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