Vancouver, British Columbia - January 22, 2018 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to present a summary of its 2017 results and 2018 outlook for its Las Chispas Property ("Las Chispas") located in Sonora, Mexico.
N. Eric Fier, CPG, P.Eng and CEO, remarked: "2017 was a very successful year for SilverCrest with multiple high-grade discoveries at Las Chispas. We have now drilled over 40,000 metres in the district with our current focus on increasing the high-grade footprints of the Babicanora, Las Chispas, and Giovanni veins in preparation for the upcoming maiden resource in Q1. The Babicanora Vein will be the largest contributor to the resource with an impressive high-grade precious metal footprint of over 1.0 kilometre in strike length. Even with our aggressive exploration program in 2017, we have only partially drill-tested 3.5 kilometres of the known 12 cumulative kilometres (19 epithermal veins) in known vein strike length. After the announcement of the maiden resource in Q1 2018, we hope to continue to add value through further in-fill and expansion drilling, complete an updated resource in H2 of this year, and complete a Preliminary Economic Assessment (PEA) in H2 as well. Lastly, I would like to thank all of our shareholders and communities for their continuing support and we are looking forward to another exciting year for the Company."
2017 Highlights & Discoveries to Date:
In 2017, SilverCrest drilled 32,822 metres in 125 drill holes at Las Chispas. Up to the end of 2017, the Company has drilled a total of 41,418 metres in 157 drill holes. The Las Chispas database now consists of 293 drill hole intercepts, above 150 grams per tonne ("gpt") silver equivalent ("AqEq", based on 75 (Ag):1 (Au) and 100% metallurgical recovery) cutoff, with a weighted average grade of 908 gpt AgEq and "uncomposited" length of 0.9 metres. Drilling has resulted in multiple discoveries and demonstrated strong vein continuity of high-grade mineralization along strike and to depth (see attached Figures). The discoveries and achievements are highlighted below, with a summary of the 15 most significant drill intercepts following these bullet points.
Las Chispas Project - Top 15 Composited Drill Intercepts, uncut undiluted
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier<, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.
ABOUT SilverCrest Metals INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. SilverCrest is the first company to successfully drill-test the historic Las Chispas Project resulting in numerous discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration, rehabilitation and drilling programs of the Las Chispas Property, including preparation of an initial resource estimate, preliminary economic assessment and updated resource estimate; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Las Chispas Property. Such forward‑looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information:
SilverCrest Metals Inc.
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
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