SilverCrest Announces Results from 2021 Infill and Expansion Drilling in the Babicanora Area
- 3.0m (ETW) Grading 3,319 gpt AgEq
- 3.6m (ETW) Grading 2,815 gpt AgEq
- 0.4m (ETW) Grading 7,249 gpt AgEq
VANCOUVER, BC – September 9, 2021 - SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce that its 2021 planned infill drilling for the Babi Vista Vein (“Babi Vista”), Babi Vista Vein Splay (“Splay”), and Granaditas Vein 1 Vein (“Granaditas") is nearing completion, along with continuation of expansion drilling in the Babicanora Area of its Las Chispas Project (“Las Chispas” or the “Project”) located in Sonora, Mexico (see following Tables and attached Figures). The objective of this drilling program is to increase drill density in an area proximal to current and planned underground development. This drilling is targeting conversion of an estimated 15.4M oz AgEq grading 9.97 gpt Au and 707.9 gpt Ag, or 1,574 gpt AgEq (86.9:1 Au:Ag ratio, see note below tables) of Inferred Resources (as stated in the “2021 Feasibility Study”1) to higher confidence Indicated Resources to support an updated Mineral Reserve and Life of Mine Plan (“LOM”) in 2022.
Highlights:
- Infill Drilling - During the first seven months of 2021, a total of 80,632 metres in 176 drill holes have been completed at Las Chispas. This includes a total of 52,035 metres in 141 infill drill holes in the Babi Vista, Splay, and Granaditas veins with approximately 20% of infill holes intersecting grades greater than 1,000 gpt AgEq (see attached Figures
- Confirmation of Targeted Areas – The infill program increased estimated drill density to 25 to 35 metres (from 45 to 50 metres) over a strike length of 1.3 kilometres and successfully confirmed the grades and approximate footprint of Inferred Resources reported in the 2021 Feasibility Study.
- Delineation of High-Grade “Shoot 201” - Infill drilling confirmed a multi-kilogram per tonne (AgEq basis) zone now named “Shoot 201” in the Splay, which surrounds the previous high-grade results in hole BV20-201, 203 and 207 (see News Release November 16, 2020). This zone has now been better defined with 11 additional holes that have an average uncapped, undiluted grade of 30.04 gpt Au and 2,429.4 gpt Ag, or 5,040 gpt AgEq, over an estimated true width (“ETW”) of 1.4 metres, within a high-grade footprint of approximately 100 metres by 75 metres. Shoot 201, along with the balance of the Splay and Granaditas, are currently not in the reserves or LOM and will be considered for conversion in an updated study in 2022.
- Expansion Drilling - 16 expansion holes totalling 8,118 metres were completed in the renamed Babi Vista FW Zone (multiple veins) and the Babicanora Norte HW Vein (see attached Figures);
- Babi Vista FW Vein Becomes Babi Vista FW Zone - A total of 18 new intercepts having an ETW of 0.57 metres grading 5.54 gpt Au and 680.2 gpt Ag, or 1,162 gpt AgEq have expanded the Babi Vista FW Vein, which is now renamed the Babi Vista FW Zone to incorporate the presence of several new sub-parallel and semi-continuous veins between the Splay and Babicanora Norte veins.
- Babicanora Norte HW Vein – This vein has been expanded by approximately 300 metres along strike (see 2021 Feasibility Study). Ten new intercepts have an ETW of 0.40 metres grading 2.0 gpt Au and 260 gpt Ag, or 434 gpt AgEq.
- H2, 2021 Focus on Infill, Expansion and Exploration – With infill drilling complete on Babi Vista, Splay, and Granaditas, the Company is working to complete other infill drilling on Babicanora Norte NW while transitioning to expansion and new exploration drilling within the Babicanora Area...