SilverCrest Metals Announces Babicanora In-fill Drill Results

SilverCrest Metals Inc announced the remaining in-fill drill results which will be included in the upcoming Feasibility Study for its Las Chispas Property located in
SilverCrest Metals Announces Babicanora In-fill Drill Results
SilverCrest Metals BabicanoraSilverCrest Metals

SilverCrest Metals Inc announced the remaining in-fill drill results which will be included in the upcoming Feasibility Study for its Las Chispas Property located in Sonora in Mexico. These results include in-fill drilling for the Babicanora, the Babicanora Footwall, the Babicanora Hangingwall and Babicanora Sur veins. Drilling for these veins was designed to expand the known mineralized footprints, and to in-fill previously reported drilling used for resource estimation in the Technical Report and Preliminary Economic Assessment for Las Chispas with an effective date of May 15, 2019, and amended on July 19, 2019.

Highlights include:

A total of 235 holes, comprising 65,360 metres and 15,153 assays, have been completed at Babi Main, Babi FW, Babi HW, and Babi Sur veins since the previous drill results were announced

Babi Main: Hole BA19-304 - 2.4 metres, 38.06 gpt Au and 4,213.8 gpt Ag, or 7,068 gpt AgEq;

Babi FW: Hole BA19-215 - 2.0 metres, 96.53 gpt Au and 2,898.9 gpt Ag, or 10,139 gpt AgEq;

Babi HW: Hole BA19-303 - 0.4 metres 90.57 gpt Au and 75.4 gpt Ag, or 6,868 gpt AgEq; and

Babi Sur: Hole BAS20-156 - 1.8 metres, 72.22 gpt Au and 160.8 gpt Ag, or 5,577 gpt AgEq;

In-fill drilling reduced the average vein intercept spacing from approximately 60 metres used for the PEA resource estimation to an estimated 35 metres for feasibility resource estimation

Results confirm the general southeast plunging continuity of mineralization related to known geologic controls for each vein

Veins are now better defined, with drilling generally expanding footprints with some veins showing less continuous internal mineralization than the previous interpretation in the PEA

Babi Main Vein mineralized footprint has expanded approximately 700 metres along strike with the inclusion of Southeast extension and El Muerto Zone. Continuity of Area 51 Zone is similar to the previous footprint for the PEA;

Babi HW Vein mineralized footprint has expanded 100 metres along strike to the northwest with more continuous mineralization

Babi FW Vein mineralized footprint has expanded 100 metres along strike to the southeast but with less continuous mineralization

Babi Sur Vein mineralized footprint (combined with its hangingwall and footwall) is similar to the previous footprint.

The Babi Main Vein remains the largest vein on the Property, with expansion of high-grade mineralization for approximately 2.1 kilometres in strike length and over 200 metres in height; and

Five surface core drills are currently operating at Las Chispas focused on further expansion and in-filling for the Babi Vista Vein, Babi Vista Splay Vein, El Muerto Zone and Amethyst Vein.

Overall, in-fill drilling generally shows that veins are somewhat narrower but higher grade, with some veins having longer strike lengths. Denser drill spacing has better defined high-grade shoots and zones for future exploration work in the district.

N. Eric Fier, CPG, P.Eng, and CEO, remarked, "These Babicanora in-fill drill results show that we generally 'moved ounces around within a confined area' for these previously defined four veins, resulting in less continuous mineralized footprints but with higher grades, which is typical of late-stage exploration drilling. The reduced mineralized footprint in the Babi FW Vein will have minimal impact on total district mineralization. With the benefit of greater drilling density and understanding of lithologic and structural controls, we now have a higher confidence in our ability to identify additional high-grade mineralization for all veins in the Las Chispas district. The feasibility resource estimation will include 21 veins (5 veins containing a majority of the high-grade mineralization) of the known 45 veins. The best opportunities for resource expansion for the upcoming Feasibility Study are the Babi Vista Vein and Babi Vista Splay Vein, which were both discovered after the PEA release. We look forward to the announcement of the Las Chispas Feasibility Study later this month, which will include a Resource update and our maiden Reserve Estimate."

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