SilverCrest Announces 127,4 Meter with 65,6 g / t silver equivalent * at La Joya, expanding the main mineralized section to the northeast and southwest
May 08.05.2012, 16 VANCOUVER (BRITISH COLUMBIA) - SilverCrest Mines Inc. (the “Company”) is pleased to announce the results of 2 additional holes in its Phase 2 drilling program currently on its La Joya property in Durango State, Mexico Is in progress. The Phase 80 program includes an estimated 15.000 holes totaling approximately 2 meters. Phase 500 drilling to date has extended the main mineralized interval (“Intercept”) an additional 101,9 meters to the northwest, beyond the area of the current resource of 20 million ounces of silver equivalent * (see March 2012, 200 press release). The new results show that the section extends an additional 100 meters to the northeast and 2.500 meters to the southwest, increasing the average width along a 500 meter strike length from 700 meters to approximately XNUMX meters. For more information, photos and images of La Joya, visit our website at www.silvercrestmines.com.
President J. Scott Drever said, "In January, part of the section reported a first inferred resource of 57,9 million tonnes grading 28 g / t silver, 0,18 g / t gold and 0,21% copper (101,9 million ounces silver equivalent * ). Since then, we have drilled 23 drill holes as part of the second drilling phase, which has successfully extended mineralization in all lateral directions. There is also the possibility of extending the resource along the section. We have begun to drill that area southeast of the mentioned resource, which probably contains the most attractive mineralized part of the section, based on previous historical drilling and surface sampling results.
These additional 16 holes partially tested the eastern and western edges of the northern end of the section and provided infill information within the resource area. The silver values vary between 2,6 and 255,7 g / t, the silver equivalent values * vary between 24,0 and 445,6 g / t. The mineralized intervals vary between 3,5 and 127,4 meters. The true widths of the mineralized intercepts can be approximated by the previously reported drill holes in related areas as well as by cross sections. The most significant findings are summarized in the table below:
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All sample analyzes were performed by ALS Chemex in Zacatecas (Mexico) and North Vancouver (British Columbia, Canada).
Holes LJ DD12-40 and LJ DD12-41 identified additional mineralization along the contact zone that previously drilled and defined as mineralization near the contact between Cretaceous sediment and underlying quartz-feldspar porphyry canyons and dykes were. The contact zone is surface-exposed, with northwest-southeast trending strikes of about 1,5 kilometers of semi-massive to massive sulphide mineralization (especially chalcopyrite and pyrrhotite) immediately adjacent to the contacts. This type of mineralization is similar to that of the nearby Sabinas producing mine of Peñoles.
Holes LJ DD12-44 to -48 identified additional mineralization in the northeastern portion of the section previously identified as the Esperanza target. This mineralization is similar to previously defined mantos, structures / stockwork, and the contact zone, although the mantos and structures appear to be smaller in number and appear to be slightly deeper than the middle portion of the segment. Further drilling is required in this area to better define near surface mineralization.
Core samples from holes LJ DD12-49 to LJ DD12-52 are currently being analyzed in the laboratory. Currently, drill hole LJ DD12-53 is being drilled in the southern part of the section. The assay results of the next series of wells will be reported upon receipt and compilation. Several drill holes contain anomalous molybdenum, tungsten, lead, and zinc values for significant skarn thicknesses. The significance of these associated mineral zones is currently being assessed.
The 80 Holes Phase 2 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 on the southern extension of the section has begun. Based on the company's surface mapping, sampling, and historical drilling results, this area may be the highest grade along the stretch.
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, which was published under www.sedar.com.
National Qualified Persons (NI 43-101) Standards of Disclosure for Mineral Projects for this press release is N. Eric Fier, CPG, P.Eng., Chief Operating Officer of SilverCrest Mines Inc., who is responsible for the content tested and approved.
SILVERCREST MINES INC.
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.
J. Scott Drever, President
SILVERCREST MINES INC.
Contact person: 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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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 hazards 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 below current estimates under the current 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.
