more good assays SilverCrest Reports High Grade Surface Sampling and Additional Drill Results-157m @ 94.1 gpt Ag Eq(i) at La Joya
| 27 Sep 2012 08:00 ET |
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Marketwire Canada
SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC)(NYSE Amex:SVLC) (the "Company") is pleased to announce the results of an additional 15 holes of the Phase II drill program and additional surface sampling currently underway at its La Joya Property in Durango, Mexico. The Phase II drill program has been expanded by 10 holes to 90 holes totaling 20,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend ("Trend") beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.(i) (see News releases dated March 20 and May 7, 2012 and attached figure). Newly constructed drill roads have exposed high grade surface mineralization with Ag Eq values ranging from 72.6 grams to 187.6 grams over sample intervals ranging from 39.7 metres to 99 metres. Drilling and surface sampling has now extended the Trend to approximately 2.5 kilometres with an average width of approximately 700 metres. Please reference our revised website at www.silvercrestmines.com for more information, photos and figures on La Joya.
J. Scott Drever, President stated: "Since announcing the Inferred Resource of more than 100 million ounces Ag Eq. at La Joya, we have completed an additional 64 core holes in the expanded Phase II program of 70 core and 20 RVC holes. The drill results continue to support our large tonnage silver deposit model and the extensive surface sampling in conjunction with certain drill holes support the concept of a potentially higher grade, open pit concept. The remaining drill holes will be directed to establishing additional resources and a basis for a conceptual open pit evaluation."
Drilling and surface sampling confirms the presence of multiple mineralized systems with metal content dependent on proximity to an underlying intensive body which comes to surface in the southwest portion of the Trend. There is distinct zonation of metals both vertically and laterally that has created an Ag, Au, Cu zone along the main portion of the Trend and a near surface tungsten (W), Cu, Au zone on the southwest portion of the Trend. Tungsten mineralization adjacent to the intrusive(s) is found in virtually all the holes drilled to date.
Five of the 15 holes reported in the tables and text below continued to test the southern extension of the Trend and the remaining 10 holes focused on the delineation of the Contact Zone within the Trend and Santo Nino Target. An extensive, channel surface sampling program along new road cuts has been completed within the Trend and subsequent Contact Zone area with 196 recent assay results. Composites of the surface sampling results are presented in the Tables below and attached figure: https://media3.marketwire.com/docs/SVL0927.pdf.
Silver values in this series of core holes and surface channel samples along the Trend range from 1.6 gpt to 119.1 gpt and on a silver equivalent(i) basis values range from 11.0 gpt to 200.3 gpt Ag Eq. Mineralized intervals range from 8.9 metres to 305.0 metres. True thicknesses of mineralized intercepts can be approximated from cross sections of previously announced drill holes in associated areas. The most significant assay results are shown in the following tables;