SilverCrest expands high-grade silver/gold footprint
SilverCrest Metals Inc. [SIL-TSXV] has announced additional Phase II drill results for the Las Chispas property in Sonora, Mexico. These additional drill results indicate expansion of high-grade silver-gold mineralization for the Babicanora Vein from previously announced results. The company is currently exploring seven of the 19 known epithermal veins on the property, including the Las Chispas, Giovanni, William Tell, Varela, La Blanquita, Granaditas, and Babicanora veins. Additional Phase II drill results are anticipated over the next several months, including potential further expansion of the Babicanora Vein.
Eric Fier, CPG, P.Eng, President and CEO, said, “Step out drilling along the strike of the Babicanora Vein has more than tripled our previously announced high-grade footprint. New high-grade drill intercepts confirm strong mineralization extending beyond the historic Babicanora workings. We have been able to trace the Babicanora Vein on surface for over 3 km, but have drill-tested less than 20% of its known strike length. Based on continued success in the district, we plan to have up to six drills turning this fall, aiming to further expand high-grade mineralization along multiple veins in both the Babicanora and the Las Chispas areas. All of our current efforts are focused on a maiden resource announcement in early 2018.”
The most significant result for this release is an intercept in Hole BA17-07 of 4.8 metres grading 4.63 g/t gold and 250.9 g/t silver or 598 g/t silver equivalent (AgEq, based on 75 (Ag):1 (Au) and 100% metallurgical recovery).
This hole intercepted the Babicanora Vein approximately 200 metres southeast of historic workings. Also noteworthy is 3.7 metres grading 2.58 g/t gold and 332.6 g/t silver, or 526 g/t AgEq in Hole UB17-11 which intercepted the Babicanora Vein approximately 75 metres below historic workings.
The nearby parallel Babicanora Footwall Vein is becoming more defined. To date, five holes have pierced this vein, averaging an estimated true thickness of 0.7 metres grading 2.15 g/t gold and 290 g/t silver, or 451 g/t AgEq. The company has intersected several other unnamed veins near the Babicanora Vein, including 1.4 metres grading 2.57 g/t gold and 277.1 g/t silver, or 470 g/t AgEq in Hole BA17-07.
The revised high-grade footprint of the Babicanora Vein is now approximately 500 metres long by 150 to 175 metres high, and is open in several directions. The average estimated true thickness and grade (uncut, undiluted) for 16 drill intercepts of this footprint is 4.0 metres grading 2.88 g/t gold and 274.9 g/t silver, or 491 g/t AgEq.
SilverCrest plans to continue with step-out drilling on the Babicanora Vein, subsequent drilling on other potential mineralized structures on the property and underground rehabilitation at the Las Chispas area. Approximately 6,000 to 8,000 metres of additional Phase II drilling is planned for the remaining part of 2017. Besides drilling and underground work, the company is currently accessing the extension of the Babicanora Adit to improve drill access and expand exploration work, continuing district-wide mapping and sampling, initiating metallurgical work as well as drilling and trenching historic dumps. During early 2018, SilverCrest plans to provide a maiden resource estimation.