Name of the Project
Las Chispas gold/silver project.

Location
The project is located in Sonora, Mexico.

Project Owner/s
SilverCrest Mines.

Project Description
A preliminary economic assessment (PEA) on the Las Chispas project has suggested that it could be a high-margin project, even at low metal prices.

The PEA has focused initial development and production on the high-grade Babicanora, Babicanora FW and Babicanora Norte veins.

The project envisages a 1 250 t/d production rate with an initial mine life of 8.5 years. Average production is estimated at 5.38-million ounces a year of silver and 55 700 oz/y of gold, or 9.6-million ounces of silver equivalent.

Potential Job Creation
Not stated.

All-in Sustaining Costs/All-in Costs
Not stated.

Net Present Value/Internal Rate of Return
The PEA estimates an after-tax net present value, at a 5% discount rate, of $406.9-million and an internal rate of return of 78%, with a payback of about nine months.

Capital Expenditure
Initial capital expenditure is estimated at $100.5-million.

Planned Start/End Date
Not stated.

Latest Developments
Recently completed drilling at the Las Chispas project has doubled the size of the Babi Vista vein, SilverCrest Metals has announced.

The in-fill and expansion drill results for Babi Vista show higher-grade vein mineralisation to depth, including hole UBV19-30, with 2.1 m grading 12 740 g/t silver equivalent.

The results of 22 drill holes follows 14 drill hole results previously announced. Based on the 36 drill holes, the updated high-grade footprint is about 400 m along vein strike and 150 m in height, and open along strike, towards surface and at depth.

Within this footprint, the estimated average true width and grade of the vein is 1.2 m grading 16.18 g/t gold and 1 272.9 g/t silver, or 2 486 g/t silver equivalent. This average grade of silver-equivalent is 230% higher than the previous estimate of 753 g/t (at 2.2 m grading 4.70 g/t gold and 401.1 g/t silver), with a reduction in estimated average vein width of 45%.

With the infill drilling programme complete, SilverCrest is operating 12 drill rigs, which are focusing on the extensions of high-grade veins, including several new blind veins that are being intercepted as drilling continues along the strike of the Babicanora veins.

Key Contracts and Suppliers
Tetra Tech Canada (PEA).

Contact Details for Project Information
SilverCrest Metals, tel +1 604694 1730 or email info@silvercrestmetals.com.