https://www.miningweekly.com

SilverCrest shares jump on high-grade discovery

6th November 2020

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Toronto-listed SilverCrest on Thursday announced the discovery of the El Muerto zone, in the north-west part of the Babicanora vein at its Las Chispas property, in Sonora, sending its shares up 15%.

El Muerto is the company's first successful attempt at intercepting high-grade precious metals deeper in the Babicanora area, suggesting potential for a new mineralised horizon in the Babicanora vein.

The best intercepts include EM20-37 at 1.5 m, grading 12.68 g/t gold and 1 723.8 g/t silver, or 2 675 g/t silver-equivalent and EM20-35 at 1 m, grading 9.46 g/t gold and 720 g/t silver, or 1 430 g/t silver-equivalent.

"The recent discovery of the El Muerto zone continues to show that Las Chispas has significant additional potential as we focus on expansion and new discoveries of high-grade mineralisation in the district. Further drilling at El Muerto, below the current Babicanora vein resource, is planned in the fourth quarter 2020 and next year,” said CEO Eric Fier.

He added that the Las Chispas feasibility study was  advancing well and that it would be released in late December or early January, along with a final mill construction decision.

SilverCrest’s stock closed at C$13.59 a share, up 15% on the previous day’s closing price.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

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:0.044 0.857s - 111pq - 2rq
Subscribe Now