Name of the Project
Las Chispas silver/gold project.

Location
Sonora, in Mexico.

Project Owner/s
Canadian precious metals exploration company SilverCrest Metals.

Project Description
The project has initial proven and probable reserves of 3.35-million tonnes grading 4.81 g/t gold and 461 g/t.

These estimates place Las Chispas among the highest-grade primary silver projects globally. The mine plan excludes inferred resources.

A feasibility has proposed the development of a 1 250 t/d operation, with an initial mine life of 8.5 years.

Underground mining will be completed using four conventional mining methods ­­–long hole (43%), cut-and-fill uppers (18%), cut-and-fill breasting (27%), and 12% resue.

Average production of silver equivalent is envisaged at 12.4-million ounces from 2023 until 2029, while gold production is estimated at
69 000 oz.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $486.3-million and an internal rate of return of 52%, with a payback of one-year.

Capital Expenditure
Initial capital expenditure is estimated at $137.7-million.

Planned Start/End Date
Initial construction is under way and is expected to ramp up through the first quarter of 2021.

Latest Developments
With the completion of the feasibility study, SilverCrest has formally approved construction of the project.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada (mineral pro­ces­sing, recovery methods, infrastructure, environ­mental, consolidated cost estimates and econ­omic analysis); P&E (geology and mineral resources; G-Mining Services (mineral reserves, mining, mine capital and operating costs); Wood Environment & Infrastructure Solutions (tailings); Hydro-Resources (hydrology and hydrogeology); and Rockland (geotechnical).

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