The Next Silver Crest ??? Drill, Drill, Drill Down dip and along strike of old mines The Silver City Project,,
OVERVIEW
Work currently being completed from historical samples by the University of Freiberg confirms productive depth of the epithermal system in the Brunsdorf district to be from 50m to 450m below surface
Down dip and along strike of old mines remains open (SilverCrest model) and only areas of surface exposure were mined
No holes for silver exploration have ever been drilled in the region
SilverCrest went from .90 to $15.00 after the discovery of Las Chispas,, ("Down dip and along strike of old mines" ) will EXN be next after a discovery at Silver City ???
2016
SilverCrest Announces New Discovery at Las Chispas; Varela Veins with Multiple Results of Greater Than 1,400 gpt AgEq
VANCOUVER, BC – November 14, 2016 - SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce an update on the underground rehabilitation program at its Las Chispas Property (“Las Chispas”) located in Sonora, Mexico. SilverCrest’s initial focus was on the Las Chispas, William Tell and Babicanora veins. Exploration has been expanded to include a new, recently discovered target at the historic Varela Mine. This mine has two near-parallel veins that are approximately 300 metres west of the William Tell Vein.
N. Eric Fier, CPG, P.Eng, President & CEO commented, “We continue to gain further access to historic workings and expand our high grade footprint at Las Chispas. The latest results from the ongoing underground rehabilitation are for the historic Varela Mine, which includes bonanza grades of up to 40.9 grams per tonne (“gpt”) gold and 610.0 gpt silver or 3,677.5 gpt silver equivalent (“AgEq”, based on 75(Ag): 1(Au) and 100% metallurgical recovery) over 0.3 metres. Our sample results on four levels are showing multiple grades of over 1,400 gpt AgEq. From visual inspection, the Varela Mine has two veins (the Main Vein and the Footwall Vein) and appears to have had less historical production than either the Las Chispas or William Tell veins. The grades mined at Varela may have been below an assumed historic cut-off grade of 1,000 gpt silver. SilverCrest plans on drill testing this target during the ongoing Phase II exploration program.”
Underground Rehabilitation Update
The Company has accessed approximately 7 kilometres of underground workings to date, with an additional 4.5 kilometres to be opened and explored over the next several months. As SilverCrest opens and explores the underground workings, the Company continues to systemically collect samples at intervals of two to three metres along strike length of veins. The Company collected a total of 318 samples at the Varela veins from 450 metres of underground access as reported below (see attached Figure and Photo). Of the 318 samples tested, 129 were vein samples and used for assay composites. The remaining samples were of hangingwall and footwall material. Sampling locations and widths are restricted to historic workings, which may only represent part of the mineralized vein, stockwork or breccia. The Company plans to complete drilling at the Varela veins to determine the location, true thickness and extent of mineralization.
The composited sample results (uncut, undiluted) for this release for four underground levels are;
• Level 1: average 0.53 metres wide grading 2.96 gpt gold and 47.0 gpt silver, or 330 gpt AgEq over a continuous 6.5 metre strike length.
• Level 2: average 0.69 metres wide grading 1.22 gpt gold and 114.1 gpt silver, or 205 gpt AgEq over a continuous 10 metre strike length.
• Level 3: average 0.88 metres wide grading 4.76 gpt gold and 147.6 gpt silver, or 504 gpt AgEq over a continuous 10 metre strike length.
• Level 4: average 1.1 metres wide grading 3.13 gpt gold and 223.6 gpt silver, or 458 gpt AgEq over a continuous 80 metre strike length excluding 7 metres of faulting.
There appears to be an increase in vein width and grade from the near surface Level 1 (1,160 metre elevation) to the deeper Level 4 (1,130 metre elevation).
The following table summarizes the 17 most significant un-composited assay results (uncut, undiluted) greater than 500 gpt AgEq from the four levels at the El Sheik historic workings of the Varela Main Vein only;
M2