https://www.miningweekly.com

SilverCrest acquires property near Las Chispas

28th August 2020

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Canada-based explorer SilverCrest Metals has acquired the El Picacho property, near its Las Chispas project in Sonora, Mexico.

SilverCrest paid $1.6-million for a 100% ownership in 11 mining concessions of the property, totalling about 7 060 ha.

“We first looked at acquiring Picacho in 2016, after the sale of SilverCrest Mines (SilverCrest’s predecessor) in 2015, as a continuation of our regional exploration programme in search of a new district containing multiple precious metal epithermal veins.

“After four years of patience, we have now acquired the next district,” said CEO Eric Fier.

The most historic prominent vein in the district, El Picacho Vein, can be accessed by a 4 m by 4 m underground decline, which visually shows the vein underground as about 6 m wide with historic grades and SilverCrest recent sampling results ranging from 350 g/t to 1 000 g/t silver equivalent.

Historic drill intercepts in this vein’s initial high-grade footprint have a weighted average of 4.1 m, grading 618 g/t silver equivalent.

The company anticipates starting an exploration drill programme at Picacho before the end of the year, subject to permitting and minimal disruptions from Covid-19.

The property was acquired by the company’s subsidiary, Compañía Minera La Llamarada, from American Metal Mining and an affiliate.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.042 0.675s - 110pq - 2rq
Subscribe Now