SilverCrest reports 50 meters grading 151,8 g / t silver equivalent * at La Joya - Major mineralized section continues to expand
19.07.2012/2/2 VANCOUVER (BRITISH COLUMBIA), - SilverCrest Mines Inc. (the "Company") is pleased to announce the results of eleven additional holes in its Phase 80 drilling program currently on its La Joya property in the state of Durango, Mexico is in progress. The Phase 15.000 program includes 2 holes totaling approximately 101,9 meters. The Phase 20 drilling reported to date extended the main mineralized interval (the “Intercept”) beyond the area containing the current inferred resource of 7 million ounces of silver equivalent * (see news releases dated March 2012 and May 700, XNUMX as well as the attached images). The section defined by drilling now extends over about two kilometers and has an average thickness of about XNUMX meters. For more information, photos and images of La Joya, visit our website at www.silvercrestmines.com.
President J. Scott Drever said, "Since the announcement of our first resource in January of this year, we have drilled more 2 holes as part of Phase 45 drilling at La Joya and have reported positive results from 33 wells to date. We have been able to extend the mineralization in all lateral directions along the section, and it is also possible to extend the reported resource. Recent drill holes confirm our interpretation that the area south of the reported resource appears to host the most attractive mineralized part of the section that often begins at or near the surface. "
The Company has completed 2's 45 planned core holes and 60 reverse circulation wells as part of its Phase 20 program. Three of the eleven holes described in the tables and in the text partially tested the southern extension of the section. A well is an infill well of the Phase 1 resource area; the focus of the remaining seven holes was on the Coloradito project. The silver values in the holes along the section vary between 8,5 and 124,1 g / t, the silver equivalent values * vary between 25,8 and 246,2 g / t. The mineralized intervals vary between 6,8 and 182,0 meters. The true widths of the mineralized sections can be approximated from the cross sections of the previously reported holes in related areas. The most significant findings are summarized in the following two tables:
All sample analyzes were performed by ALS Chemex in Zacatecas (Mexico) and North Vancouver (British Columbia, Canada).
The Phase 2 drill program is designed to test approximately 2,5 kilometers of section, including at least eight near-vertical structures / stockwork zones, 14 near-horizontal, layered mantos, and the contact zone adjacent to the underlying intrusion. Drilling at the southern extension of the section will continue with two drills; a third will be put into operation in July. In due course reverse circulation drilling should be carried out. Based on the company's surface mapping, sampling, and historical drilling results, the southern area may be the highest grade along the stretch. The drilling results reported in the above table reflect these higher grade areas.
Core samples from holes LJ DD12-60 to LJ DD12-66 are currently being analyzed in the laboratory. The company is currently drilling at LJDD12-71 well in the southern part of the section. The assay results of the next series of wells will be reported upon receipt and compilation. Several holes contain anomalous molybdenum, tungsten, tin, lead, and zinc values for significant skarn thicknesses. The significance of these associated mineral zones is currently being assessed.
At the Coloradito target, which is a separate target one kilometer west of the section, seven more holes were drilled. The mineralization at Coloradito includes skarn with stockwork veins. This mineralization is similar to that identified in the adjacent major mineralized section in the face of several Cretaceous sediment intrusions and subsequent skarn formation. The molybdenum values appear to be higher at Coloradito (up to 0,6%) than at La Joya where the copper values are higher (up to 15%). This indicates a different intrusion or subsequent intrusion event with different mineralization solutions. The holes at Coloradito also show anomalous copper, lead and zinc values. Further drilling is required to determine the nature and size of this potential deposit.
Earlier, historic drill results at Coloradito were published in a press release from the 16. February 2012 reported. New drill results confirm the previously identified molybdenum and tungsten mineralization with a thickness of up to 116 meters and grades of 0,048% molybdenum and 0,098% WO3. The reported near-surface mineralization is similar to that of current economic or potentially economic near-surface bulk tonnage deposits, such as Thompson Creek (Idaho) (0,046 to 0,081% molybdenum), Endako (British Columbia) 0,030 to 0,046% molybdenum), Sisson ( New Brunswick) (0,031% molybdenum, 0,094% WO3) and El Crestón (Mexico) (0,071% molybdenum, 0,06% copper). All references come from the websites of listed companies.
Coloradito (molybdenum, tungsten, gold, silver)
All sample analyzes were performed by ALS Chemex in Zacatecas (Mexico) and North Vancouver (British Columbia, Canada).
Hole LJ DD12-51 (azimuth, slope, 45, 45), located south of the Coloradito target, did not produce meaningful results. Most of the borehole, which was mostly drilled in marble, yielded minor skarns that targeted deeper skarn mineralization. The deeper goal was not interpreted.
Further details about the resource estimate can be found in the 4 press release. January 2012 and the "technical report" according to NI 43-101 for La Joya from the 20. February 2012.
The Phase 2 drill program is scheduled to be completed in August 2012; a subsequent revision and announcement of updated resources are planned for the fourth quarter of 2012. Extensive metallurgical testing to test the suitability and potential of the metallurgical recovery rates of silver, gold, copper, tungsten, molybdenum, tin, and lead is underway. The results of the test work will be published in the next "technical report" according to NI 43-101, which is also planned for the fourth quarter of 2012.
N. Eric Fier, CPG, P. Eng. and Chief Operating Officer of SilverCrest Mines Inc., as a Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects, has reviewed and approved this news release.
SilverCrest Mines Inc. (TSX-V: SVL; OTCQX: STVZF) is a Mexican precious metal producer headquartered in Vancouver, British Columbia. The flagship project of SilverCrest is the company's own Santa Elena Mine. It is located 150 km northeast of Hermosillo near Banamichi in the Mexican state of Sonora. The mine produces high grade epithermal gold and silver. The cash costs over the life of the mine are estimated at 8 US $ per ounce silver equivalent (55: 1 Ag: Au). SilverCrest estimates that 6,5 ounces of silver and 2.500 ounces of gold will be mined during 4.805.000 day tonnage production from the Santa Elena Mine during the 179.000 day mining phase. Currently, a three-year expansion program plan is being devised to double metal production at the Santa Elena Mine. The ongoing exploration programs to define a large polymetal deposit on the La Joya property in Durango state are progressing rapidly.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements relate to the Company's anticipated results and developments in the Company's future operations, the planned exploration and development of the respective properties, and plans for business operations and other matters that may arise in the future. These statements are for analyzes and other information based on expectations of future performance. These include silver and gold production and planned work programs. Statements on reserves and mineral resource estimates may also be forward-looking statements to the extent that they include the estimates of mineralization found in the development of the mineral property. In the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the resource deposits can be promoted in an economically viable manner.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those that are explicitly or implicitly referred to in the forward-looking statements. These include, but are not limited to: risks associated with precious metal and base metal price fluctuations; Risks associated with current currency fluctuations (notably the Mexican peso, Canadian dollar and US dollar); Risks associated with the typical pitfalls of mining (including circumstances and events beyond our control), operational and technical difficulties in resource exploration, development and production activities; Uncertainties in raising funds and financing exploration and development on the properties; Uncertainties in actual investment costs, operating costs, production costs and economic returns; the uncertainty as to whether the development activities will lead to a profitable mining operation; Risks associated with data on reserves and mineral resources (since these are based on estimates and assumptions and actual production levels may be lower than current estimates at the given conditions and the mineral reserves may be lower as a result of mining on the properties; Risks associated with government regulations and the obtaining of the necessary licenses and permits; risks associated with the business that is subject to environmental laws and regulations (which may increase the cost of doing business and restrict our operations), risks associated with mineral properties are bound to previously unregistered agreements, transfers or any legal claims; risks associated with insufficient coverage or Liability refusal by the insurance; Risks in connection with litigation; Risks with regard to the world economy; Risks related to the status of the company as a foreign private issuer in the United States; Risks associated with all of the Company's properties in Mexico and El Salvador (including political, economic, social and regulatory instability); and risks related to the involvement of directors and executives in other commodity companies, which could lead to conflicts of interest. Should one or more of these risks and uncertainties materialize or the underlying assumptions prove incorrect, then actual results may differ materially from those described in the forward-looking statements. The forward-looking statements of the Company are based on the opinions, expectations and assumptions of management at the time these statements are made.
The information contained in this news release does not constitute a comprehensive documentation of all facts and developments relating to the company. It should be read in conjunction with all other published company records. The information contained herein does not replace detailed research or analysis. The adequacy or accuracy of this information has not been tested by any securities commission or regulatory authority.
"J. Scott Drever "
J. Scott Drever, President
SILVERCREST MINES INC.
Contact: Fred Cooper
Phone: (604) 694-1730 DW 108
Fax: (604) 694-1761
toll-free number: 1-866-691-1730
E-mail: [email protected]
Website: www.silvercrestmines.com
Suite 501 - 570 Granville Street
Vancouver, BC Canada V6C 3P1
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
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