VANCOUVER, BC � June
6, 2011 � SilverCrest Mines Inc.
(the �Company�) is pleased to announce that it has completed a total of 20
core holes for approximately 4,300 metres of a
planned Phase I, 25 hole program at its La Joya
Property in Mexico. This phase of drilling has confirmed the continuity of
the shallow dipping mantos and the mineralized,
vertical cross structures and has doubled the strike length of the
mineralization to approximately 700 metres. The
La Joya Property is located approximately 75 kilometres southeast of the city of Durango, Mexico.
The property is located in a prolific mineralized region which currently
supports several mining operations including Grupo
Mexico�s, San Martin Mine, Industrias Penoles,� Sabinas Mine, Pan
American Silver�s, La Colorada Mine and First
Majestic Silver�s, La Parrilla Silver Mine.
Please reference our website at www.silvercrestmnes.com for
more information, photos and figures on La Joya.
The Company announced the results for the first 10 holes in a previous news
release dated March 7th, 2011. The results for the
subsequent 10 holes (L J DD11-11 to L J DD11-20) are summarized in the table
below. These holes have been drilled along strike of the main
mineralized trend and have partially tested the shallow dipping manto style mineralization and near-vertical
mineralized structures. Weighted average assay results and silver
equivalents have been calculated for the most significant intervals in the
table below. Most intercepts are considered to be near-true thickness and
are near-surface. Please see attached drill plan and cross section for
drill hole locations.
|
|
|
|
|
|
|
Hole (Azimuth, Dip)
|
From (m)
|
To (m)
|
Length (m)
|
Ag (gpt)
|
Cu (%)
|
Au (gpt)
|
Ag (g/t)
equiv. *
|
L J 11-11 (45, - 50)
|
11.0
|
16.0
|
5.0
|
30.0
|
0.17
|
0.21
|
53.4
|
|
34.5
|
40.0
|
5.5
|
183.0
|
0.68
|
0.04
|
239.2
|
|
52.0
|
57.0
|
5.0
|
52.5
|
0.14
|
0.02
|
64.6
|
L J11-14 (180, -50)
|
27.0
|
33.0
|
6.0
|
53.6
|
0.47
|
0.13
|
97.2
|
|
52.0
|
54.0
|
2.0
|
120.0
|
0.86
|
0.27
|
201.4
|
|
150.0
|
168.0
|
18.0
|
8.5
|
0.01
|
0.63
|
38.7
|
L J 11-16 (0, -90)
|
96.0
|
106.0
|
10.0
|
66.2
|
0.12
|
0.36
|
92.6
|
L J 11-17 (0, -50)
|
27.0
|
62.0
|
35.0
|
112.1
|
1.11
|
0.22
|
211.2
|
includes
|
45.0
|
53.0
|
8.0
|
304.5
|
3.50
|
0.29
|
598.0
|
|
104.0
|
146.0
|
42.0
|
40.3
|
0.46
|
0.21
|
86.9
|
includes
|
109.0
|
121.0
|
12.0
|
89.6
|
1.16
|
0.18
|
190.8
|
|
166.0
|
232.5
|
66.2
|
50.7
|
0.45
|
0.28
|
99.8
|
includes
|
169.0
|
175.0
|
6.0
|
102.7
|
0.66
|
0.25
|
167.2
|
includes
|
214.5
|
215.35
|
0.6
|
1,690.0
|
19.25
|
0.30
|
3,244.0
|
L J 11-18 (320, -50)
|
30.0
|
45.0
|
15.0
|
53.0
|
0.45
|
0.25
|
100.7
|
|
54.0
|
68.0
|
14.0
|
27.2
|
0.24
|
0.05
|
48.7
|
|
83.0
|
93.8
|
10.8
|
55.4
|
0.34
|
0.13
|
88.7
|
L J 11-19 (160 -50)
|
69.0
|
84.0
|
15.0
|
76.2
|
0.25
|
0.16
|
103.7
|
|
102.0
|
153.4
|
51.4
|
66.1
|
0.33
|
0.18
|
100.9
|
includes
|
110.0
|
135.7
|
25.7
|
110.2
|
0.61
|
0.13
|
165.1
|
includes
|
122.0
|
132.7
|
10.7
|
205.5
|
1.11
|
0.23
|
305.0
|
L J 11-20 (180, -50)
|
15.0
|
24.0
|
9.0
|
186.4
|
1.69
|
0.28
|
334.7
|
|
41.0
|
43.0
|
2
|
53.3
|
0.40
|
0.06
|
88.1
|
|
67.0
|
69.0
|
2
|
139.0
|
0.78
|
0.21
|
211.2
|
|
178.0
|
221.6
|
43.6
|
34.5
|
0.20
|
0.31
|
65.0
|
includes
|
215.7
|
219.6
|
3.8
|
149.0
|
1.98
|
0.21
|
317.2
|
*Ag equivalent is based on 100% metallurgical recovery and metals
prices of US$30/ozfor Ag; US$3.50/lbfor Cu and US$1400/ozfor
Au. To convert to ounces per ton divide grams per tonne
by 34.2857.
In addition to Ag, Cu and Au, anomalous Pb and Zn
grades were intercepted in;
�
Hole LJDD10-19 from 110.0 to 150.7 (40.7m) grading
0.18% Pb and 0.28% Zn
o
including 128.0 to 129.7 (1.7m) grading 1.59% Pb and 1.4% Zn
�
Hole LJDD10-20 from 178.0 to 225.6m (45.6m)
grading 0.17% Pb and 0.62% Zn
o
including includes from 178.0 to 182.2 (4.2m)
grading 0.82% Pb and 3.77% Zn
Sample analyses were completed by Inspectorate Exploration & Mining
Services Ltd. in Durango, Mexico, Richmond, BC and ALS Chemex
in Zacatecas and North Vancouver with selected samples analyzed at the
Company�s on site lab at its Santa Elena Mine with checks at ALS Chemex for quality assurance and control.
Preliminary exploration, consisting of surface sampling and geological
mapping, completed by the Company shows several near vertical mineralized veins
and structures with widths up to 50 metres, cross-cutting numerous, shallow-dipping mineralized manto (skarn) deposits up to
30 metres thick. The mantos
appear to be mineralized near the apex of a series northwest-southeast
trending anticlines. The main altered and mineralized area appears to be
approximately 2 kilometres in strike length, 100
to 200 metres wide and is associated with nearby
exposed intrusive. Geochemistry of the system includes Ag-Cu-Au--Mo-W-Sb-As-Pb-Zn with sulfide
mineralization consisting of tetrahedrite (Ag), bornite (Cu), and chalcopyrite (Cu). Only minor oxides
are present and native silver may also be present. Holes LJ-10-01 to LJ 10
-10 announced in a news release by the Company on March 7, 2011 initially
delineated mineralization along 350 metres of
strike length. The additional drill holes presented above have doubled this
mineralized strike length to approximately 700 metres.
All holes reported show at least one significant interval of mineralization
except for holes 12, 13 and 15. Holes 12 and 13 are not located with the
main mineralized trend defined above. Hole 15 was drilled to a depth of 500
metres to test the possibility of a deep porphyry
system. This system was intersected with anomalous copper, gold and
molybdenum. A 3D computer-generated geological model that is currently in
development confirms of the intercepts to mantos
and near vertical structures with continuity
along strike and latterly.
The expanded 25 hole drill program (est. 5,000 metres)
is expected to test approximately one kilometre
of the exposed two kilometre strike length of the
mineralized system that includes the mineralized structures and mantos. Phase I program is anticipated to be completed
in June 2011. Once final assay results and compilation of data is complete,
an initial resource estimate for La Joya will be
completed. Additional field work will continue at La Joya throughout the summer including more geological
mapping, surface sampling of extensions of mineralization and ground
geophysics. A second phase of drilling is contemplated once Phase 1 data
has been compiled and interpreted.
The Qualified Person under National
Instrument (NI 43-101) Standards of Disclosure for Mineral Projects
for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved
its contents.
SilverCrest Mines Inc. (TSX-V: SVL) is
a Mexican precious metals producer with headquarters based in Vancouver,
BC. SilverCrest�s flagship property is the
100%-owned Santa Elena Mine, which is located 150km northeast of
Hermosillo, near Banamichi in the State of
Sonora, M�xico. The mine is a high-grade, epithermal gold and silver
producer, with an estimated life of mine cash cost of US$8 per ounce of
silver equivalent (55:1 Ag:Au).
SilverCrest anticipates that the 2,500 tonnes per day facility should produce an average of
approximately 800,000 ounces of silver and 30,000 ounces of gold per full
production year from the open-pit heap leach operation.
This news release
contains forward-looking statements, which address future events and
conditions, which are subject to various risks and uncertainties. The
Company�s actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors, some of which may be beyond the Company�s
control. These factors include: the availability of funds; the timing
and content of work programs; results of exploration activities and development
of mineral properties, the interpretation of drilling results and other
geological data, the uncertainties of resource and reserve estimations,
receipt and security of mineral property titles; project cost overruns or
unanticipated costs and expenses, fluctuations in metal prices; currency
fluctuations; and general market and industry conditions. Forward-looking
statements are based on the expectations and opinions of the Company�s
management on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at the time
of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.