"has the rights to acquire 100%interest"SilverCrest Completes Second Phase Drill Program at Cruz de Mayo, Mexico
Mar 8, 2007 6:00:00 AM
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL)(FRANKFURT:CW5) is pleased to announce it has completed a 27 reverse circulation (RC) drill hole program totaling 2907 metres at its Cruz de Mayo prospect in Northern Mexico. This constitutes nearly double the number of holes and metres initially contemplated. The Cruz de Mayo prospect is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the rights to acquire 100% interest in the prospect.
The Phase II drill program (to view the drill hole plan map accompanying this release please click on the following link: https://www.ccnmatthews.com/docs/CruzDeMayoPhaseII-March071.jpg) was designed to re-confirm the widths and grades of the silver mineralized zone previously encountered in the first phase core drill program (please see Press Release dated October 26, 2006) as well as to test the overall dimensions of the zone along strike and down dip. The planned Phase II program was substantially increased based on the continued intersection of mineralized zone and the need to adequately test the resource target area for the purpose of completing a resource model.
The information derived from the two phases of drilling will provide the basis for a NI 43-101 resource estimate. The Technical Report required to support the contemplated resource estimate will be commenced as soon as all assay results from the most recent drilling are received. The Company has submitted approximately 2,000 samples from Cruz de Mayo to ALS-Chemex in Hermosillo, Mexico and North Vancouver, Canada for analyses, for which the turnaround is expected to be 3-6 weeks.