TSX: SIL | NYSE American: SILV
VANCOUVER, BC, April 13, 2022 /CNW/ - SilverCrest Metals Inc.
("SilverCrest" or the "Company") is pleased to announce additional
results from its initial drill program at its El Picacho Property
("Picacho" or the "Property") located near Bacoachi, Sonora, Mexico. Picacho is located
approximately 85 km by road northeast of the Company's Las Chispas
project along a predominantly paved highway.
Drill results reported in this release are from 56,780 metres
(247 drill holes) targeting the Picacho Zone which now includes
five adjacent and subparallel epithermal veins including; the
Picacho Main Vein ("Picacho Main" with historic resource), Picacho
Hanging Wall Vein ("Picacho HW", see news release dated
February 24, 2021), Picacho Hanging
Wall 2 Vein ("Picacho HW2", new discovery), Picacho Hanging Wall 3
Vein ("Picacho HW3", new discovery) and Picacho Footwall Vein
("Picacho FW", new discovery) (see Tables below and attached
Figures).
Highlights:
- Initial Drilling of Historic Resource Completed, Expansion
at Picacho Zone - A total of 68,200 metres (289 drill holes) at
the Picacho Zone have been drilled to date including holes reported
in a news release dated February 24,
2021. The focus of drilling was to better understand,
redefine and potentially expand the Picacho Main Vein historic
unverified resource1 of 7.8 million ounces silver
equivalent ("AgEq"2) grading 8.50 grams per tonne
("gpt") gold ("Au") and 40.0 gpt silver ("Ag"), or 677 gpt AgEq.
Overall, the Picacho Main and Picacho HW veins have expanded, and
new vein discoveries are being reported within the Picacho
Zone.
- Picacho Main Vein Primary Focus of Drilling - Picacho
Main Vein results, within a footprint of greater than 150 gpt AgEq
("Footprint"), are reported in this release. The average grade of
these results is 5.42 gpt Au and 23.9 gpt Ag, or 431 gpt AgEq with
an average estimated true width ("ETW") of 2.4 metres. Drilling in
the Picacho Main Vein remains shallow with a maximum vertical
drilled depth of approximately 300 metres and an approximate vein
strike length of 550 metres. Drill spacing in the Footprint
averages 35 metres.
- New Vein Discoveries - While drilling the Picacho Main
and Picacho HW veins, three new adjacent vein discoveries were
intercepted. The cumulative strike length, within the defined
Footprint for these veins, is approximately 400 metres. Overall,
these veins average 7.47 gpt Au and 30.3 gpt Ag, or 591 gpt AgEq
with an average true width of 0.9 metres.
- Early-Stage Exploration, Drilling Continues - Currently
less than 30% of the Property has had any mapping or sampling
completed. Ongoing mapping, sampling, underground surveying of
historical workings, target generation and geophysical
interpretation continues as part of an early-stage exploration
strategy. Two drills are expected to be active at Picacho
throughout Q2, 2022.
1 Historic
Resource Qualification: Picacho Main Vein has a historic unverified
mineral resource estimate reported in 2010 (Wheatley, 2010) using
14 drill holes, underground channel sampling results and a
polygonal estimation method. The reported estimate had 364,381
tonnes grading 8.54 gpt Au and 40.38 gpt Ag, or 100,060 ounces of
Au and 473,052 ounces of Ag using a 1 gpt Au cutoff. A qualified
person has not done sufficient work to classify the historical
estimates as current mineral resources or mineral reserves. The
Company is not treating this information as current mineral
resources or reserves, has not verified this information and is not
relying on it. The Company plans on using the historical drilling
and estimates to help guide its exploratory drilling
work.
|
2 AgEq
based on 75(Ag):1(Au) calculated using long-term silver and gold
prices of US$20 per ounce silver and US$1,500 per ounce
gold.
|
N. Eric Fier, CPG, P.Eng, and
CEO, remarked, "We are encouraged by our findings in the early days
of exploration at Picacho. Our initial drill program at the
Property was focused on leveraging historic work to efficiently
allocate our capital. This work program was successful in gathering
significant information pertaining to the historic resource,
expanding the Footprint, and highlighting the potential for further
growth. Our objective is to delineate an initial mineral resource
estimate and, while work remains to achieve this objective, we are
encouraged by the initial results at Picacho. We are excited to
continue with our strategy of finding high value, lower risk
targets with modest hurdle rates for success."
Picacho was a historic gold and silver producer, with the first
noted production in late 1800s with grades greater than 15 gpt gold
(Bird, 1904). The Property was purchased by the Company in
August 2020 for a total consideration
of US$2.4 million, including
government back taxes, for 100% ownership in 11 mining concessions
totaling approximately 7,060 hectares.
Mineralization at Picacho is hosted within multiple
low-sulphidation epithermal veins which include banded quartz,
quartz-calcite breccia, quartz and calcite stockwork, and
structures with pyrite, argentite, minor chalcopyrite and minor
sphalerite being the predominant sulphide minerals. Initial
drilling at the Property suggests the Picacho Zone is a gold
dominant system with geological similarities to nearby Las Chispas
and Santa Elena (discovered,
developed and operated by the Company's predecessor, SilverCrest
Mines, until late 2015).
Drilling to date at the Picacho Zone has expanded the
mineralized footprint of the previous historic unverified resource
in the Picacho Main Vein and defined a cumulative mineralized
footprint of approximately 950 metres along vein strike and a
maximum of approximately 300 metres down vein dip from surface.
Mapping, sampling and drilling suggest there is potential for the
strike length to be extended further with the veins remaining open
to the northwest, southeast and down dip. Besides the Picacho Main
Vein, the most continuous vein is the Picacho HW Vein. The new
veins, including Picacho HW2, Picacho HW3 and Picacho FW, have not
been primary targets of drilling to date.
A more detailed summary of the results for this release are
presented below (see Figures) and are in addition to those
previously released on February 24,
2021. Results remain outstanding for an additional 27,500
metres of drilling at other veins at Picacho.
- Picacho Main Vein
-
- Measures 550 metres along strike, averages 300 metres to depth
with an average grade (uncut, undiluted), reported today, of 5.42
gpt Au and 23.9 gpt Ag, or 431 gpt AgEq with an ETW of 2.4 metres.
The most significant drill intercept being reported today is hole
PI21-195 at 3.7 metres of ETW grading 20.86 gpt Au and 72.9 gpt Ag,
or 1,638 gpt AgEq.
- Considering all drilling to date, Picacho Main has an average
grade of 6.19 gpt Au and 31.8 gpt Ag, or 497 gpt AgEq and an ETW of
2.7 metres.
- Picacho Hanging Wall Vein
-
- Measures 500 metres along strike, averages 200 metres to depth
with an average grade, (uncut, undiluted) reported today of 4.38
gpt Au and 37.6 gpt Ag, or 366 gpt AgEq with an ETW of 1.5 metres.
The most significant drill intercept is hole PI21-153 at 1.3 metres
of ETW grading 42.3 gpt Au and 542.0 gpt Ag, or 3,714 gpt
AgEq.
- Picacho Hanging Wall 2 Vein
-
- Measures 200 metres along strike, averages 135 metres to depth
with an average grade (uncut, undiluted), reported to date, of 6.32
gpt Au and 46.1 gpt Ag, or 520 gpt AgEq with an ETW of 0.8 metres.
The most significant drill intercept is hole PI21-50 at 2.8 metres
of ETW grading 11.9 gpt Au and 21.1 gpt Ag, or 912 gpt AgEq.
- Picacho Hanging Wall 3 Vein
-
- Measures 80 metres along strike, averages 100 metres to depth
with an average grade (uncut, undiluted), reported to date, of 5.88
gpt Au and 8.7 gpt Ag, or 450 gpt AgEq with an ETW of 0.5 metres.
The most significant drill intercept is hole PI21-182 at 0.8 metres
of ETW grading 10.71 gpt Au and 7 gpt Ag, or 810 gpt AgEq.
- Picacho Footwall Vein
-
- Measures 100 metres along strike, averages 175 metres to depth
with an average grade (uncut, undiluted), reported to date, of 9.45
gpt Au and 16.1 gpt Ag, or 725 gpt AgEq with an ETW of 1.3 metres.
The most significant drill intercept is hole PI22-285 at 1.7 metres
of ETW grading 37.09 gpt Au and 32.5 gpt Ag, or 2,815 gpt
AgEq.
Drill intercept highlights from the program that are reported in
this release are tabulated below. All grades are reported as
uncapped and undiluted and based on a 150 gpt AgEq cut-off grade.
This cut-off grade is used to evaluate exploration targets in the
initial stages of work and may differ from the cut-off grade used
for future resource estimations. The same drill hole number may be
shown for different veins based on the same hole intercepting
multiple veins.
Picacho
Main
|
Hole ID
|
From
(m)
|
To (m)
|
Drilled Intercept (m)
|
Estimated True Width (m)
|
Au gpt
|
Ag gpt
|
AgEq
gpt*
|
PI21-043
|
134.9
|
137.1
|
2.2
|
1.7
|
4.37
|
10.9
|
339
|
PI21-045
|
148.1
|
150.6
|
2.6
|
2.0
|
3.95
|
10.9
|
307
|
PI21-049
|
293.4
|
299.2
|
5.7
|
4.6
|
2.88
|
9.4
|
225
|
PI21-052
|
76.9
|
81.4
|
4.5
|
3.6
|
6.47
|
111.9
|
597
|
Includes
|
79.1
|
80.4
|
1.4
|
1.1
|
14.35
|
277.0
|
1,353
|
PI21-061
|
180.7
|
182.9
|
2.2
|
1.7
|
2.24
|
15.1
|
183
|
PI21-065
|
196.7
|
198.0
|
1.4
|
1.1
|
5.88
|
4.8
|
446
|
PI21-066
|
284.8
|
285.4
|
0.6
|
0.5
|
6.04
|
7.9
|
461
|
PI21-076
|
369.6
|
370.7
|
1.1
|
0.9
|
3.20
|
11.1
|
251
|
PI21-102
|
178.5
|
186.6
|
8.2
|
6.5
|
5.02
|
7.8
|
384
|
PI21-103
|
128.0
|
148.7
|
20.8
|
16.6
|
3.00
|
4.0
|
229
|
PI21-105
|
155.0
|
159.9
|
4.9
|
3.9
|
2.86
|
16.2
|
231
|
PI21-106
|
161.8
|
162.7
|
0.9
|
0.7
|
2.23
|
59.8
|
227
|
PI21-109
|
131.9
|
133.4
|
1.5
|
1.2
|
5.11
|
12.9
|
396
|
PI21-110
|
139.5
|
144.1
|
4.5
|
3.6
|
5.28
|
7.3
|
403
|
PI21-112
|
169.5
|
175.8
|
6.3
|
5.1
|
1.96
|
7.9
|
155
|
PI21-114
|
152.2
|
154.0
|
1.8
|
1.4
|
4.86
|
7.0
|
372
|
PI21-116
|
179.5
|
181.4
|
1.9
|
1.5
|
2.79
|
14.3
|
223
|
PI21-117
|
150.9
|
160.5
|
9.6
|
7.7
|
3.44
|
13.8
|
272
|
PI21-119
|
180.3
|
181.8
|
1.4
|
1.2
|
4.63
|
6.5
|
354
|
PI21-122
|
70.5
|
71.3
|
0.8
|
0.6
|
2.61
|
18.4
|
214
|
PI21-124
|
88.8
|
89.8
|
1.0
|
0.8
|
3.86
|
4.5
|
294
|
PI21-127
|
183.5
|
184.7
|
1.2
|
1.0
|
2.12
|
31.3
|
190
|
PI21-129
|
199.2
|
199.8
|
0.6
|
0.4
|
2.24
|
2.1
|
170
|
PI21-131
|
224.9
|
225.8
|
0.9
|
0.7
|
3.71
|
22.2
|
300
|
PI21-134
|
197.6
|
200.0
|
2.4
|
1.9
|
1.80
|
24.9
|
160
|
PI21-136
|
83.0
|
83.6
|
0.6
|
0.5
|
2.04
|
15.7
|
169
|
PI21-137
|
162.8
|
164.2
|
1.4
|
1.1
|
3.90
|
2.9
|
295
|
PI21-138
|
118.2
|
118.9
|
0.7
|
0.5
|
2.69
|
9.1
|
211
|
PI21-139
|
146.5
|
151.0
|
4.5
|
3.6
|
3.45
|
29.9
|
289
|
PI21-140
|
114.7
|
119.5
|
4.9
|
3.9
|
4.95
|
25.8
|
397
|
PI21-142
|
111.4
|
113.1
|
1.7
|
1.4
|
11.41
|
30.0
|
886
|
PI21-143
|
190.8
|
193.9
|
3.1
|
2.5
|
1.88
|
44.5
|
185
|
PI21-144
|
93.3
|
97.3
|
4.0
|
3.2
|
10.40
|
37.3
|
817
|
Includes
|
95.1
|
96.1
|
1.0
|
0.8
|
26.80
|
63.7
|
2,074
|
PI21-145
|
107.1
|
110.8
|
3.7
|
2.9
|
2.30
|
11.5
|
184
|
PI21-146
|
177.3
|
179.4
|
2.1
|
1.7
|
2.06
|
50.1
|
205
|
PI21-150
|
78.5
|
79.1
|
0.6
|
0.5
|
2.65
|
16.5
|
215
|
PI21-151
|
60.1
|
64.3
|
4.2
|
3.4
|
2.88
|
12.8
|
229
|
PI21-154
|
59.5
|
61.1
|
1.6
|
1.3
|
7.06
|
18.5
|
548
|
PI21-155
|
113.4
|
118.9
|
5.5
|
4.4
|
2.68
|
29.2
|
231
|
PI21-156
|
306.7
|
312.0
|
5.4
|
4.3
|
10.18
|
19.5
|
783
|
Includes
|
309.9
|
311.4
|
1.5
|
1.2
|
23.70
|
26.8
|
1,804
|
PI21-161
|
87.9
|
90.1
|
2.2
|
1.8
|
2.21
|
6.3
|
172
|
PI21-162
|
205.8
|
206.7
|
0.9
|
0.7
|
4.35
|
2.0
|
328
|
PI21-163
|
51.6
|
59.9
|
8.3
|
6.6
|
8.32
|
30.1
|
654
|
Includes
|
52.8
|
55.4
|
2.6
|
2.0
|
13.79
|
56.3
|
1,091
|
PI21-168
|
335.3
|
336.2
|
0.9
|
0.7
|
9.97
|
10.6
|
758
|
PI21-174
|
48.6
|
51.6
|
3.1
|
2.4
|
4.98
|
36.2
|
410
|
PI21-175
|
193.2
|
194.5
|
1.3
|
1.1
|
4.06
|
1.3
|
306
|
PI21-176
|
352.7
|
353.5
|
0.8
|
0.7
|
2.47
|
26.8
|
212
|
PI21-177
|
297.8
|
301.5
|
3.7
|
2.9
|
5.15
|
16.2
|
403
|
PI21-183
|
151.9
|
152.6
|
0.7
|
0.6
|
2.17
|
2.7
|
165
|
PI21-188
|
113.6
|
116.4
|
2.8
|
2.3
|
14.16
|
30.4
|
1,092
|
PI21-194
|
175.7
|
176.3
|
0.6
|
0.4
|
2.74
|
4.8
|
210
|
PI21-195
|
218.4
|
223.1
|
4.7
|
3.7
|
20.86
|
72.9
|
1,638
|
Includes
|
219.2
|
219.9
|
0.7
|
0.6
|
42.10
|
129.0
|
3,286
|
PI21-196
|
255.4
|
256.0
|
0.6
|
0.4
|
1.40
|
76.7
|
182
|
PI21-197
|
174.2
|
174.9
|
0.7
|
0.6
|
4.15
|
0.9
|
312
|
PI21-200
|
142.8
|
144.8
|
2.0
|
1.6
|
2.70
|
19.7
|
222
|
PI21-205
|
256.7
|
257.3
|
0.6
|
0.5
|
10.10
|
3.8
|
761
|
PI21-215
|
243.1
|
247.0
|
3.9
|
3.1
|
8.74
|
35.6
|
691
|
Includes
|
244.5
|
245.4
|
0.9
|
0.7
|
17.70
|
92.2
|
1,420
|
PI21-218
|
101.5
|
107.0
|
5.5
|
4.4
|
2.49
|
9.6
|
196
|
PI21-221
|
109.0
|
115.5
|
6.6
|
5.3
|
3.20
|
15.4
|
255
|
PI21-223
|
229.5
|
231.3
|
1.8
|
1.4
|
2.45
|
1.5
|
185
|
PI21-224
|
46.5
|
49.4
|
3.0
|
2.4
|
4.92
|
16.9
|
386
|
PI21-226
|
352.2
|
353.1
|
1.0
|
0.8
|
2.87
|
47.9
|
263
|
PI21-236
|
54.1
|
58.8
|
4.7
|
3.7
|
2.59
|
26.7
|
221
|
PI21-238
|
100.3
|
102.0
|
1.7
|
1.4
|
2.26
|
10.4
|
180
|
PI21-243
|
226.4
|
230.1
|
3.7
|
3.0
|
10.47
|
30.6
|
816
|
Includes
|
226.4
|
227.3
|
0.9
|
0.7
|
29.50
|
54.1
|
2,267
|
PI21-245
|
214.8
|
215.5
|
0.7
|
0.5
|
3.89
|
12.9
|
305
|
PI21-247
|
207.4
|
210.8
|
3.4
|
2.7
|
3.63
|
20.7
|
293
|
PI21-249
|
224.4
|
225.6
|
1.2
|
0.9
|
2.28
|
12.5
|
183
|
PI21-250
|
174.5
|
175.1
|
0.6
|
0.5
|
58.30
|
85.8
|
4,458
|
PI21-251
|
242.9
|
246.1
|
3.2
|
2.6
|
18.66
|
213.8
|
1,613
|
Includes
|
244.6
|
245.1
|
0.6
|
0.5
|
37.30
|
244.0
|
3,041
|
PI21-254
|
212.3
|
221.0
|
8.7
|
6.9
|
2.39
|
34.9
|
214
|
PI21-258
|
116.6
|
124.1
|
7.5
|
6.0
|
11.35
|
51.6
|
903
|
Includes
|
116.6
|
117.6
|
1.1
|
0.9
|
40.70
|
249
|
3,302
|
PI22-260
|
116.7
|
132.4
|
15.7
|
12.6
|
4.66
|
8.0
|
358
|
Includes
|
119.7
|
120.2
|
0.5
|
0.4
|
13.35
|
14.3
|
1,016
|
PI22-261
|
133.6
|
135.4
|
1.7
|
1.4
|
4.83
|
9.7
|
372
|
PI22-262
|
171.3
|
172.2
|
0.9
|
0.7
|
2.13
|
3.5
|
163
|
PI22-263
|
101.6
|
103.8
|
2.2
|
1.7
|
3.15
|
12.8
|
249
|
PI22-265
|
231.2
|
232.4
|
1.2
|
0.9
|
2.44
|
8.2
|
191
|
PI22-269
|
212.3
|
215.8
|
3.5
|
2.8
|
1.94
|
13.4
|
159
|
PI22-270
|
70.8
|
72.3
|
1.6
|
1.3
|
2.63
|
6.4
|
204
|
PI22-272
|
52.0
|
56.0
|
4.0
|
3.2
|
21.07
|
47.1
|
1,627
|
Includes
|
54.0
|
54.8
|
0.8
|
0.7
|
44.5
|
102.0
|
3,440
|
PI22-274
|
230.8
|
234.0
|
3.3
|
2.6
|
4.71
|
9.8
|
363
|
PI22-279
|
73.3
|
73.8
|
0.5
|
0.4
|
5.89
|
42.7
|
484
|
PI22-280
|
46.7
|
47.8
|
1.1
|
0.9
|
1.95
|
4.5
|
151
|
PI22-284
|
70.8
|
71.5
|
0.7
|
0.6
|
3.54
|
21.5
|
287
|
PI22-285
|
88.1
|
88.6
|
0.6
|
0.5
|
30.90
|
166.0
|
2,483
|
PI22-286
|
147.0
|
148.4
|
1.4
|
1.2
|
2.88
|
19.9
|
236
|
Weighted
Average
|
3.0
|
2.4
|
5.42
|
23.9
|
431
|
Picacho
HW
|
Hole ID
|
From
(m)
|
To (m)
|
Drilled
Intercept
(m)
|
Estimated
True
Width
(m)
|
Au gpt
|
Ag gpt
|
AgEq
gpt*
|
PI21-046
|
93.6
|
94.1
|
0.5
|
0.4
|
3.49
|
7.3
|
269
|
PI21-050
|
117.7
|
119.5
|
1.8
|
1.4
|
13.56
|
344.3
|
1,361
|
Includes
|
117.7
|
118.8
|
1.1
|
0.9
|
17.20
|
555.0
|
1,845
|
PI21-056
|
291.5
|
292.2
|
0.7
|
0.6
|
1.56
|
100.0
|
217
|
PI21-061
|
171.2
|
172.2
|
1.0
|
0.8
|
2.47
|
2.4
|
188
|
PI21-078
|
224.6
|
225.2
|
0.6
|
0.5
|
3.17
|
54.3
|
292
|
PI21-102
|
172.1
|
173.1
|
1.0
|
0.8
|
2.95
|
7.1
|
228
|
PI21-103
|
122.1
|
125.6
|
3.5
|
2.8
|
3.49
|
5.5
|
267
|
PI21-105
|
150.5
|
151.1
|
0.6
|
0.4
|
2.65
|
2.7
|
201
|
PI21-106
|
144.4
|
145.4
|
1.0
|
0.8
|
9.11
|
238.0
|
921
|
PI21-116
|
170.5
|
171.1
|
0.6
|
0.5
|
5.28
|
25.7
|
422
|
PI21-119
|
171.6
|
172.3
|
0.7
|
0.5
|
2.38
|
11.3
|
190
|
PI21-120
|
156.5
|
167.0
|
10.5
|
8.4
|
2.64
|
7.9
|
206
|
PI21-121
|
6.9
|
8.7
|
1.8
|
1.5
|
5.09
|
25.9
|
408
|
PI21-122
|
63.8
|
65.5
|
1.7
|
1.4
|
3.19
|
5.2
|
244
|
PI21-124
|
82.2
|
82.9
|
0.7
|
0.6
|
2.52
|
7.0
|
196
|
PI21-135
|
142.6
|
151.2
|
8.6
|
6.9
|
2.24
|
12.4
|
180
|
PI21-136
|
74.0
|
75.5
|
1.5
|
1.2
|
1.88
|
16.2
|
157
|
PI21-137
|
153.1
|
154.7
|
1.6
|
1.2
|
2.39
|
6.8
|
186
|
PI21-138
|
106.9
|
109.7
|
2.8
|
2.2
|
3.99
|
6.9
|
306
|
PI21-142
|
95.8
|
96.9
|
1.1
|
0.9
|
3.69
|
90.0
|
367
|
PI21-143
|
181.8
|
186.5
|
4.7
|
3.8
|
2.90
|
29.4
|
247
|
PI21-144
|
89.7
|
90.4
|
0.6
|
0.5
|
4.17
|
36.0
|
349
|
PI21-146
|
174.5
|
175.5
|
1.0
|
0.8
|
1.96
|
30.1
|
177
|
PI21-150
|
70.5
|
71.2
|
0.7
|
0.6
|
2.42
|
7.1
|
189
|
PI21-153
|
308.6
|
310.2
|
1.6
|
1.3
|
42.3
|
542.0
|
3,714
|
PI21-155
|
98.5
|
99.3
|
0.7
|
0.6
|
4.24
|
67.3
|
385
|
PI21-159
|
101.6
|
102.9
|
1.3
|
1.0
|
2.28
|
7.0
|
178
|
PI21-161
|
73.9
|
75.4
|
1.5
|
1.2
|
3.60
|
8.9
|
279
|
PI21-163
|
45.7
|
46.5
|
0.8
|
0.6
|
3.92
|
126.0
|
420
|
PI21-168
|
330.2
|
333.2
|
3.0
|
2.4
|
3.01
|
30.9
|
257
|
PI21-169
|
273.4
|
273.9
|
0.5
|
0.4
|
3.99
|
79.0
|
378
|
PI21-170
|
13.0
|
15.0
|
2.0
|
1.6
|
3.00
|
23.8
|
249
|
PI21-174
|
44.1
|
44.6
|
0.5
|
0.4
|
4.44
|
10.0
|
343
|
PI21-183
|
143.7
|
148.2
|
4.5
|
3.6
|
2.77
|
21.4
|
229
|
PI21-189
|
172.8
|
173.9
|
1.2
|
0.9
|
2.36
|
2.5
|
179
|
PI21-193
|
83.4
|
83.9
|
0.5
|
0.4
|
5.42
|
48.2
|
455
|
PI21-195
|
209.0
|
210.0
|
1.0
|
0.8
|
9.83
|
40.7
|
778
|
PI21-197
|
119.4
|
120.1
|
0.7
|
0.6
|
2.15
|
2.0
|
163
|
PI21-205
|
205.2
|
208.9
|
3.6
|
2.9
|
3.57
|
115.2
|
383
|
PI21-209
|
63.8
|
66.5
|
2.7
|
2.2
|
4.02
|
11.2
|
313
|
PI21-211
|
76.0
|
77.3
|
1.3
|
1.0
|
3.72
|
17.3
|
297
|
PI21-214
|
108.6
|
109.5
|
0.9
|
0.8
|
4.56
|
13.4
|
355
|
PI21-218
|
97.6
|
99.2
|
1.6
|
1.2
|
3.04
|
17.6
|
246
|
PI21-221
|
104.5
|
105.1
|
0.6
|
0.5
|
1.72
|
24.3
|
153
|
PI21-222
|
197.7
|
200.0
|
2.4
|
1.9
|
5.75
|
38.8
|
470
|
PI21-226
|
337.8
|
338.6
|
0.8
|
0.6
|
14.50
|
274.0
|
1,362
|
PI21-227
|
113.7
|
115.2
|
1.6
|
1.3
|
3.92
|
15.9
|
310
|
PI21-229
|
47.1
|
47.9
|
0.8
|
0.6
|
2.73
|
19.6
|
224
|
PI21-231
|
72.6
|
74.3
|
1.7
|
1.4
|
4.92
|
20.2
|
389
|
PI21-233
|
58.7
|
59.9
|
1.2
|
0.9
|
2.07
|
38.7
|
194
|
PI21-236
|
34.2
|
39.7
|
5.6
|
4.4
|
6.27
|
39.0
|
509
|
PI21-242
|
67.2
|
68.0
|
0.9
|
0.7
|
1.77
|
34.6
|
167
|
PI21-243
|
222.4
|
223.3
|
0.9
|
0.7
|
1.43
|
56.8
|
164
|
PI21-248
|
112.6
|
114.1
|
1.5
|
1.2
|
1.71
|
66.6
|
195
|
PI21-252
|
81.6
|
86.1
|
4.6
|
3.6
|
2.65
|
8.0
|
206
|
PI21-253
|
132.8
|
133.5
|
0.7
|
0.6
|
2.95
|
3.9
|
225
|
PI21-257
|
228.3
|
230.8
|
2.5
|
2.0
|
2.59
|
5.7
|
200
|
PI22-260
|
105.4
|
106.1
|
0.7
|
0.5
|
4.83
|
7.8
|
370
|
PI22-263
|
98.2
|
98.8
|
0.6
|
0.4
|
3.61
|
9.5
|
280
|
PI22-264
|
184.0
|
189.7
|
5.7
|
4.6
|
4.28
|
15.3
|
336
|
PI22-265
|
202.1
|
204.5
|
2.4
|
1.9
|
2.60
|
10.1
|
205
|
PI22-266
|
56.8
|
57.8
|
1.1
|
0.8
|
3.45
|
12.6
|
271
|
PI22-270
|
54.5
|
58.2
|
3.7
|
3.0
|
3.60
|
8.3
|
278
|
PI22-275
|
30.8
|
35.3
|
4.5
|
3.6
|
11.46
|
36.4
|
896
|
Includes
|
33.3
|
35.3
|
2.0
|
1.6
|
23.10
|
32.5
|
1,765
|
PI22-276
|
78.2
|
79.2
|
1.0
|
0.8
|
7.22
|
28.0
|
569
|
PI22-277
|
155.0
|
156.0
|
1.0
|
0.8
|
3.36
|
21.6
|
274
|
PI22-278
|
64.7
|
66.3
|
1.6
|
1.3
|
2.41
|
27.2
|
208
|
PI22-280
|
44.3
|
45.3
|
1.1
|
0.9
|
2.33
|
24.7
|
199
|
PI22-281
|
21.3
|
26.0
|
4.8
|
3.8
|
4.06
|
15.7
|
320
|
PI22-282
|
21.5
|
22.6
|
1.2
|
0.9
|
1.71
|
44.2
|
172
|
PI22-287
|
149.2
|
149.8
|
0.6
|
0.5
|
4.80
|
70.9
|
431
|
Weighted
Average
|
1.9
|
1.5
|
4.38
|
37.6
|
366
|
Picacho HW
2
|
Hole ID
|
From
(m)
|
To (m)
|
Drilled
Intercept
(m)
|
Estimated
True
Width
(m)
|
Au gpt
|
Ag gpt
|
AgEq
gpt*
|
PI21-050
|
103.0
|
106.5
|
3.5
|
2.8
|
11.88
|
21.1
|
912
|
Includes
|
105.7
|
107.0
|
1.3
|
1.0
|
36.66
|
91.1
|
2,841
|
PI21-063
|
177.7
|
178.4
|
0.7
|
0.5
|
10.95
|
12.6
|
834
|
PI21-102
|
153.5
|
154.2
|
0.8
|
0.6
|
6.95
|
15.4
|
537
|
PI21-103
|
114.5
|
115.0
|
0.6
|
0.4
|
3.38
|
31.9
|
285
|
PI21-105
|
141.9
|
142.4
|
0.6
|
0.4
|
2.02
|
0.8
|
152
|
PI21-109
|
104.1
|
104.6
|
0.5
|
0.4
|
5.45
|
55.8
|
465
|
PI21-127
|
164.4
|
165.0
|
0.7
|
0.5
|
4.17
|
26.7
|
339
|
PI21-146
|
169.3
|
170.0
|
0.7
|
0.6
|
3.97
|
16.5
|
314
|
PI21-155
|
88.8
|
89.3
|
0.5
|
0.4
|
1.93
|
7.1
|
152
|
PI21-207
|
59.6
|
60.5
|
1.0
|
0.8
|
0.13
|
356
|
366
|
PI21-213
|
91.9
|
93.2
|
1.2
|
1.0
|
15.40
|
13.7
|
1,169
|
PI21-216
|
13.2
|
14.8
|
1.6
|
1.3
|
2.57
|
28.3
|
221
|
PI21-242
|
62.0
|
63.1
|
1.1
|
0.9
|
2.49
|
31.7
|
218
|
PI21-248
|
102.1
|
102.6
|
0.5
|
0.4
|
1.80
|
86.8
|
222
|
PI22-270
|
50.1
|
50.7
|
0.6
|
0.5
|
3.72
|
3.0
|
282
|
PI22-277
|
148.7
|
150.5
|
1.8
|
1.5
|
4.96
|
59.8
|
431
|
PI22-287
|
145.0
|
145.5
|
0.5
|
0.4
|
2.53
|
16.6
|
206
|
Weighted
Average
|
1.0
|
0.8
|
6.32
|
46.1
|
520
|
Picacho HW
3
|
Hole ID
|
From
(m)
|
To (m)
|
Drilled
Intercept
(m)
|
Estimated
True
Width
(m)
|
Au gpt
|
Ag gpt
|
AgEq
gpt*
|
PI21-110
|
110.2
|
110.8
|
0.6
|
0.5
|
3.73
|
7.0
|
287
|
PI21-132
|
143.7
|
144.2
|
0.5
|
0.4
|
10.05
|
4.7
|
758
|
PI21-161
|
53.7
|
54.4
|
0.7
|
0.6
|
2.20
|
14.6
|
180
|
PI21-182
|
82.7
|
83.7
|
1.0
|
0.8
|
10.71
|
7.0
|
810
|
Includes
|
83.2
|
83.7
|
0.5
|
0.4
|
17.95
|
12.5
|
1,359
|
PI21-237
|
204.3
|
204.8
|
0.5
|
0.4
|
2.85
|
4.2
|
218
|
PI22-270
|
45.5
|
46.0
|
0.5
|
0.4
|
2.80
|
14.2
|
224
|
Weighted
Average
|
0.6
|
0.5
|
5.88
|
8.7
|
450
|
Picacho
FW
|
Hole ID
|
From
(m)
|
To (m)
|
Drilled
Intercept
(m)
|
Estimated
True
Width
(m)
|
Au gpt
|
Ag gpt
|
AgEq
gpt*
|
PI21-043
|
165.7
|
167.7
|
2.1
|
1.6
|
8.21
|
17.3
|
633
|
PI21-107
|
41.6
|
42.4
|
0.8
|
0.6
|
2.45
|
1.9
|
186
|
PI21-140
|
126.9
|
128.5
|
1.6
|
1.3
|
2.49
|
22.3
|
209
|
PI21-186
|
165.4
|
166.0
|
0.6
|
0.5
|
3.78
|
21.7
|
305
|
PI21-209
|
163.1
|
163.8
|
0.7
|
0.5
|
3.73
|
25.8
|
306
|
PI21-258
|
137.9
|
141.5
|
3.6
|
2.8
|
2.75
|
8.7
|
215
|
PI22-266
|
96.0
|
97.4
|
1.5
|
1.2
|
3.05
|
3.1
|
232
|
PI22-285
|
116.7
|
118.8
|
2.2
|
1.7
|
37.09
|
32.5
|
2,815
|
Weighted
Average
|
1.6
|
1.3
|
9.45
|
16.1
|
725
|
|
Notes:
|
All numbers are
rounded.
|
Cut-off grade (COG)
of 150 gpt AgEq is applied.
|
ETW is an estimated
80% of drilled intercept width.
|
AgEq based on
75(Ag):1(Au) calculated using long-term silver and gold prices of
US$20 per ounce silver and US$1,500 per ounce gold.
|
All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.
The drill results also include that intercepted vein but were
below the 150 gpt AgEq cut-off: PI21-44, PI21-47,
PI21-48, PI21-51, PI21-53 to PI21-55, PI21-57, PI21-58 to
PI21-60, PI21-62, PI21-64, PI21-67 to PI21-75, PI21-77, PI21-79
PI21-80 to PI21-101, PI21-104, PI21-108, PI21-111, PI21-113,
PI21-115, PI21-118, PI21-123, PI21-125, PI21-126, PI21-128,
PI21-130, PI21-133, PI21-141, PI21-147 to PI21-149, PI21-152,
PI21-157, PI21-158, PI21-160, PI21-164 to PI21-167, PI21-171 to
PI21-173, PI21-178 to PI21-180, PI21-181, PI21-184, PI21-185,
PI21-187, PI21-189 to PI21-192, PI21-198, PI21-199, PI21-201 to
PI21-204, PI21-206, PI21-208, PI21-210, PI21-212, PI21-217,
PI21-219, PI21-220, PI21-225, PI21-228, PI21-230, PI21-232,
PI21-234, PI21-235, PI21-239 to PI21-241, PI21-244, PI21-246,
PI21-255, PI21-256, PI22-259, PI22-267, PI22-268 PI22-271,
PI22-273, PI22-283, PI22-288, PI22-289.
2022 Picacho Program
The H1, 2022 exploration focus at
Picacho is to map and sample unexplored areas and generate new
drill targets. SilverCrest currently has two drill rigs operating
at Picacho. Plans for the H2, 2022 exploration program will be
determined as results are received and evaluated from the H1, 2022
program.
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 and development 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 top priority is on
the high-grade, historic Las Chispas mining district in
Sonora, Mexico, where it has
completed a feasibility study on the Las Chispas Project and is
proceeding with mine construction. Start-up of processing at the
Las Chispas Mine is targeted in Q2, 2022. SilverCrest is the first
company to successfully drill-test the historic Las Chispas
Property resulting in numerous high-grade precious metal
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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and
"forward-looking information" (collectively "forward-looking
statements") within the meaning of applicable Canadian and
United States securities
legislation. These include, without limitation, statements with
respect to: the strategic plans, timing and expectations for the
Company's exploration programs at El Picacho Property, estimates of
mineralization and plans for future exploration work, and the
start-up of processing at the Las Chispas Mine in Q2, 2022. 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: impact of the COVID-19
pandemic; the reliability of mineralization estimates, mining and
development costs 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:
uncertainty as to the impact and duration of the COVID-19 pandemic;
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.
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SOURCE SilverCrest Metals Inc.