SilverCrest Metals Releases Additional Drill Hole Results from Las Chispas, Mexico - Video Available on Investmentpitch.com

September 08, 2016 11:27 AM EDT | Source: InvestmentPitch Media

Vancouver, British Columbia--(Newsfile Corp. - September 8, 2016) - SilverCrest Metals (TSXV: SIL) has released additional drill hole results from its Las Chispas Project in Mexico. Las Chispas, located in Sonora State, is in a historic silver-gold mining district which presently hosts two nearby precious metal producers.

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The latest results are from the William Tell Vein which is approximately parallel to the Las Chispas Vein and about 120 metres apart at its midpoint.

The William Tell Vein's historical workings appear to advance on strike to a cross cutting fault and then terminate. This fault also cross cuts the Las Chispas Vein, from which higher grades were previously reported.

Four of the seven William Tell drill hole intersections, located within the potential high grade corridor, display grade continuity greater than 400 grams per tonne silver equivalent over estimated true widths of 0.8 to 1.5 metres. The most significant results came from hole LC16-03, which was 1.5 metres wide grading 2.03 grams per tonne gold and 683 grams per tonne silver, or 835 grams per tonne silver equivalent. This included 0.75 metres grading 3.8 grams per tonne gold and 1,102 grams per tonne silver or 1,388 grams per tonne silver equivalent.

Two previously unmapped veins were intercepted in drill holes LC16-13 and LC16-16 which reported grades of 888 and 723 grams per tonne silver equivalent over estimated true widths of 0.9 metres and 0.8 metres, respectively. These intercepts are new vein discoveries and are interpreted to be in the footwall and hanging wall, respectively. Please refer to the company's news release for more details on the 7 holes.

Dunham Craig, Interim CEO stated: "While we suspected the William Tell Vein would extend to the south, we are very pleased to see this discovery in an area where we did not know what the vein mineralization, location or geometry would be. The high grade continuity in four of the drill holes within the potentially mineralized corridor is very encouraging and we are eager to begin a Phase 2 drilling program as soon as possible to further delineate the strike extension and depth. In addition, the discovery of two new vein intercepts grading above 700 grams per tonne silver equivalent, combined with all of the results received to date from drilling and underground channel sampling, reiterate a possible discovery of a district-wide area play."

Based on the favorable results of the Phase I surface drill program, the company is planning a Phase II surface and underground drill program for the fall of 2016.

The shares are trading at $3.85 and with 40.9 million shares outstanding, the company is capitalized at $157 million.

For more information, please visit the company's website www.SilverCrestMetals.com, contact Fred Cooper, Investor Relations, at 604-694-1730 or 1-866-691-1730, or email info@SilverCrestMetals.com.

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