TSX: SVL NYSE MKT:
SVLC
VANCOUVER, March 30, 2015 /CNW/ - SilverCrest Mines Inc.
(the "Company" or "SilverCrest") is pleased to announce results of
the exploration and resource expansion drilling program completed
in late 2014 at the 100% owned Santa Elena Mine in Sonora, Mexico. Twenty-one (21) drill
holes, totalling 9,393 metres were completed to explore the western
and eastern extensions of the Santa Elena Main Mineralized Zone
("MMZ") along strike and down dip as well as the adjacent Tortuga
and El Cholugo Zones (See attached Figures). The results of all
holes will be included in the Santa Elena Resource and Reserve
update, scheduled to be released on March
31, 2015. Please refer to the Company's website at
www.silvercrestmines.com for more information.
N. Eric Fier, CPG, P.Eng, Chief
Operating Officer stated; "This drill program was successful in
confirming continuity of the Santa Elena MMZ beyond current
resource model limits and better defining geological boundaries
where future infill underground drilling might be required. Moving
forward, our focus for expanding Santa
Elena resources with subsequent conversion to reserves will
be on the El Cholugo (I & II), Tortuga
and Santa Elena East. We also look to our 30/60 kilometre
regional exploration program to provide new discoveries that might
be treated at the Santa Elena
facility."
The most significant assay results from this drilling program
are shown in the following table. Intervals are considered
near-true thickness. A location map for the drill holes is
attached.
Hole
#
|
From
(m)
|
To
(m)
|
Intercept
(m)
|
Au
gpt
|
Ag
gpt
|
Santa Elena West
(includes Tortuga deep intercepts)
|
SE-14-02
|
172.8
|
183.8
|
11.0
|
0.72
|
28.7
|
includes
|
174.4
|
175.6
|
1.2
|
2.00
|
60.8
|
SE-14-02
|
241.1
|
242.1
|
1.0
|
1.17
|
176.2
|
SE-14-02
|
299.7
|
302.9
|
3.2
|
1.33
|
103.6
|
includes
|
302.0
|
302.9
|
1.0
|
3.94
|
201.6
|
SE-14-03
|
79.8
|
82.8
|
3.0
|
2.15
|
98.0
|
SE-14-06
|
283.8
|
285.0
|
1.3
|
0.77
|
34.9
|
SE-14-06
|
289.3
|
293.8
|
4.5
|
0.64
|
43.5
|
SE-14-06
|
308.0
|
323.6
|
15.6
|
1.60
|
104.4
|
includes
|
308.0
|
312.0
|
4.0
|
2.87
|
161.5
|
includes
|
314.0
|
315.9
|
1.9
|
3.35
|
150.0
|
SE-14-06
|
326.2
|
328.7
|
2.5
|
0.69
|
56.3
|
SE-14-06
|
333.0
|
335.1
|
2.1
|
0.13
|
12.9
|
SE-14-06
|
216.8
|
217.7
|
0.9
|
0.27
|
96.0
|
SE-14-06
|
252.0
|
270.0
|
18.0
|
0.20
|
43.2
|
SE-14-10
|
283.8
|
285.9
|
2.1
|
0.55
|
59.7
|
SE-14-10
|
295.1
|
301.0
|
5.9
|
0.60
|
53.6
|
SE-14-12
|
304.1
|
308.3
|
4.2
|
0.68
|
17.0
|
SE-14-12
|
313.9
|
315.5
|
1.6
|
0.34
|
59.8
|
SE-14-14
|
396.6
|
398.6
|
1.8
|
0.33
|
48.9
|
Tortuga
|
SE-14-04
|
76.6
|
77.5
|
0.9
|
5.46
|
108.0
|
SE-14-04
|
90.0
|
91.1
|
1.1
|
2.99
|
38.3
|
SE-14-04
|
261.6
|
262.6
|
1.0
|
2.96
|
1110.0
|
SE-14-07
|
73.3
|
78.2
|
4.9
|
0.27
|
35.8
|
SE-14-07
|
273.5
|
276.0
|
2.5
|
0.36
|
38.3
|
SE-14-07
|
311.4
|
315.3
|
3.9
|
0.53
|
46.1
|
SE-14-07
|
382.5
|
383.5
|
1.0
|
0.17
|
82.1
|
SE-14-09
|
15.9
|
18.0
|
2.1
|
6.68
|
27.2
|
El Cholugo (I
& II)
|
SE-14-11
|
158.7
|
159.6
|
0.9
|
0.97
|
29.8
|
SE-14-11
|
209.1
|
211.1
|
2.0
|
0.38
|
27.6
|
SE-14-11
|
299.4
|
300.5
|
1.1
|
0.56
|
43.2
|
SE-14-11
|
340.7
|
342.0
|
1.3
|
1.53
|
83.2
|
SE-14-11
|
345.6
|
355.2
|
9.6
|
0.77
|
69.0
|
SE-14-15
|
59.4
|
79.8
|
20.4
|
3.15
|
41.2
|
includes
|
59.4
|
62.5
|
3.1
|
8.66
|
102.6
|
includes
|
67.1
|
70.1
|
3.0
|
8.52
|
112.7
|
includes
|
74.6
|
78.0
|
3.4
|
2.91
|
18.2
|
SE-14-15
|
95.0
|
96.0
|
1.0
|
1.24
|
35.2
|
SE-14-15
|
194.2
|
195.5
|
1.3
|
2.50
|
158.0
|
SE-14-15
|
236.3
|
241.4
|
5.1
|
0.47
|
37.1
|
includes
|
236.3
|
237.9
|
1.6
|
1.19
|
84.1
|
Santa Elena
East
|
SE-14-16
|
256.5
|
259.8
|
1.2
|
0.14
|
28.4
|
SE-14-17
|
513.1
|
522.0
|
8.9
|
0.76
|
46.4
|
includes
|
514.5
|
518.9
|
4.4
|
1.26
|
75.2
|
SE-14-18A
|
623.8
|
629.5
|
5.7
|
0.21
|
33.2
|
SE-14-21
|
1,060.2
|
1,061.2
|
1.0
|
0.17
|
44.4
|
SE-14-21
|
1,070.1
|
1,074.7
|
4.6
|
0.52
|
89.3
|
includes
|
1,072.2
|
1,072.6
|
0.5
|
4.60
|
773.0
|
SE-14-21
|
1,092.2
|
1,094.6
|
2.4
|
1.94
|
5.5
|
SE-14-21
|
1,143.0
|
1,147.2
|
4.2
|
0.02
|
78.9
|
includes
|
1,144.4
|
1,145.3
|
0.8
|
0.07
|
376.0
|
All samples were independently prepared and assayed at
Inspectorate Labs of Reno, NV.
The purpose of this surface drill program was to further explore
the western extension ("Santa Elena West") of the MMZ, better
define and expand the current resources at both Tortuga and El
Cholugo, and to explore the eastern extension ("Santa Elena East")
of the high grade plunging MMZ that is currently being mined.
Hole SE-14-01 was a geotechnical hole and was not meant to
intercept mineralization. Holes SE-14-05, 8, 13, 19, and 20 did not
intercept significant mineralization or were lost before
intercepting the target area. Hole SE-14-18A is a wedge hole off of
hole 18 that was lost while drilling.
The drill hole SE-14-21 represents a step out of 250 metres down
plunge along the Santa Elena Vein from the closest existing drill
hole results (see attached Figures), supporting continuity of the
MMZ with similar mineralogy and hydrothermal textures of a low
sulphidation Ag-Au system.
The Santa Elena West drilling showed that the MMZ becomes
discontinuous and lower grade beyond the current ultimate pit west
wall. Further drilling in this area is not warranted except for
follow up of deep intercepts associated with Tortuga.
Tortuga and El Cholugo zones were better defined with higher
grade near the intersection with MMZ with decreasing grades in more
distal intercepts. Further interpretation work is ongoing with the
anticipation of follow up underground drilling in the future.
Santa Elena East drilling showed
lower grade intercepts within the MMZ outside the projected high
grade plunge (see attached long section. Follow up drilling to
intercept the projected high grade plunge will be completed in H1
2015. Further drilling from underground is anticipated only when
the underground ramp bottom (est. 325 metre elevation) is reached
in late 2015 or early 2016. The Company is planning on driving an
exploration drift to the east once the current underground ramp
reaches the target depth. This drift will be utilized to explore
for potential deeper resources as the MMZ continues to the
east.
Note that the depths of drill hole intercepts are within
vertical elevations currently planned for underground mining except
for hole SE-14-21.
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., Chief Operating Officer of SilverCrest Mines Inc., who has
reviewed and approved its contents.
SilverCrest Mines Inc. (NYSE MKT: SVLC; TSX: SVL) is a
Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property
is the 100%owned Santa Elena Mine, located 150 kilometres northeast
of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a
highgrade, epithermal silver and gold producer, with a current
reserve estimated life of mine of eight years. Exploration programs
continue to result in discoveries at Santa Elena and have advanced the definition
of a large polymetallic deposit at the La Joya Project in Durango
State, Mexico.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This news release contains "forward-looking
statements" within the meaning of Canadian securities legislation
and the United States Securities Litigation Reform Act of 1995.
These include, without limitation, statements with respect to: the
economic viability of a project; strategic plans and expectations
for the development of the Company's operations and properties;
estimates of mineral reserves and mineral resources; the amount of
future production of gold and silver over any period; the amount of
expected grades and ounces of metals and minerals; expected cash
operating costs and outflows; life of mine and prices of metals and
minerals.
These forward-looking statements relate to analyses and other
information that are based on, without limitation, the following
estimates and assumptions: presence of and continuity of
metals at the Company's projects; cost of production and
productivity levels at the Santa Elena Mine; availability and costs
of mining equipment and skilled labour; accuracy of the
interpretations and assumptions used in calculating reserve and
resource estimates; operations not being disrupted or delayed by
unusual geological or technical problems; and ability to develop
and finance projects.
Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which could
cause actual events or results to differ from those expressed or
implied by the forward-looking statements, including, without
limitation: risks related to precious and base metal price
fluctuations; risks related to the fluctuations in the price of
consumed commodities; risks related to fluctuations in the currency
markets (particularly the Mexican peso, Canadian dollar and
United States dollar); risks
related to the inherently dangerous activity of mining, including
conditions or events beyond our control, and operating or technical
difficulties in mineral exploration, development and mining
activities; uncertainty in the Company's ability fund the
exploration and development of its mineral properties; uncertainty
as to actual capital costs, operating costs, production and
economic returns, and uncertainty that development activities will
result in profitable mining operations; risks related to reserves
and mineral resource figures being estimates based on
interpretations and assumptions which may result in less mineral
production under actual conditions than is currently estimated and
to diminishing quantities or grades of mineral reserves as
properties are mined; and risks related to governmental regulations
and obtaining necessary licenses and permits.
Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward-looking statements. The Company's forward-looking
statements are based on beliefs, expectations and opinions of
management on the date the statements are made. For the reasons set
forth above, investors should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update or revise any forward-looking statements, except as
otherwise required by applicable law.
SOURCE SilverCrest Mines Inc.