VANCOUVER,
BC ��
SilverCrest Mines Inc. (the �Company�) is pleased to announce that it has completed 13 core
holes of a planned Phase I, 22 hole program (see attached drill plan) at its newly acquired La Joya
Property which 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.comfor more information, photos and figures on La Joya.
Previous work on the property, mainly by Luismin
S.A. de C.V. and Boliden Ltd., consists of 54 drill holes and surface work
completed from 1980 to 2006. Surface mapping, sampling by the Company and
previous drill results suggest that the geology and mineralization is
similar to the nearby San Martin Mine which is operated by Grupo Mexico and considered historically to be one of
the largest polymetallic (Ag, Cu, Zn, Pb) producers in Mexico. The
current drill program is designed to confirm some of the historical results
but more importantly to verify the Company�s interpretation of its geological
model and to establish continuity of the mineralized mantos
within the skarn deposit both along strike and
laterally across the apex of a prominent anticlinal
axis.
The significant drill results of the first 10 holes, which have partially
tested the shallow dipping manto style
mineralization and near-vertical structures are shown in the following
table and attached figures. The most significant intervals and assay results
as well as the silver equivalents of the intercepts are highlighted in the
table below. Significant silver values range from 19.3 gpt
to 412.0 gpt and
on a silver equivalent basis*, values range from 32.5 gpt
to 797.7 gpt .
|
|
|
|
|
|
|
|
Ag (g/t)
|
|
Hole (Azimuth, Dip)
|
From (m)
|
To (m)
|
Length (m)
|
Ag (gpt)
|
Cu (%)
|
Au (gpt)
|
equiv. *
|
|
LJ-DD10-01 (360, - 50)
|
44.2
|
46.2
|
2.0
|
80.8
|
0.55
|
0.06
|
144.1
|
|
|
60.2
|
75.4
|
15.2
|
75.3
|
0.58
|
0.45
|
161.4
|
|
includes
|
74.4
|
75.4
|
1.0
|
382.0
|
2.46
|
0.15
|
659.4
|
|
|
110.4
|
117.6
|
7.3
|
91.8
|
0.98
|
0.22
|
210.3
|
|
|
129.0
|
139.8
|
10.8
|
31.8
|
0.52
|
0.17
|
97.4
|
|
|
152.7
|
164.8
|
12.1
|
126.7
|
1.07
|
0.26
|
257.1
|
|
includes
|
152.7
|
155.8
|
3.1
|
376.7
|
2.57
|
0.58
|
687.7
|
|
LJ-DD10-02 (45, - 50)
|
69.8
|
73.2
|
3.4
|
171.8
|
2.62
|
0.14
|
466.3
|
|
|
190.4
|
197.2
|
6.8
|
192.3
|
0.90
|
0.40
|
311.0
|
|
includes
|
194.2
|
196.1
|
1.9
|
294.2
|
2.00
|
0.30
|
528.6
|
|
LJ-DD10-03 (360, - 90)
|
52.9
|
53.7
|
0.8
|
196.7
|
1.28
|
0.04
|
339.1
|
|
|
137.5
|
151.1
|
13.5
|
41.2
|
0.45
|
0.53
|
117.1
|
|
LJ-DD10-04 (360, -50)
|
23.5
|
24.6
|
1.1
|
41.5
|
0.74
|
0.11
|
128.2
|
|
|
31.6
|
35.7
|
4.1
|
79.2
|
0.23
|
0.13
|
110.9
|
|
|
40.4
|
59.6
|
19.2
|
156.5
|
0.82
|
0.18
|
255.5
|
|
includes
|
48.6
|
58.4
|
9.8
|
241.4
|
1.36
|
0.27
|
404.1
|
|
|
77.2
|
79.3
|
2.1
|
164.9
|
1.44
|
0.42
|
343.9
|
|
|
89.7
|
90.7
|
1.0
|
95.0
|
0.37
|
0.07
|
139.1
|
|
|
127.6
|
128.7
|
1.1
|
45.3
|
1.07
|
0.38
|
181.7
|
|
LJ-DD10-05a (360, -90)
|
167.2
|
176.2
|
9.0
|
19.3
|
0.02
|
0.22
|
32.5
|
|
LJ-DD-10-06 (360, -50)
|
111.2
|
113.2
|
2.0
|
54.8
|
0.53
|
0.06
|
115.9
|
|
LJ DD10-07 (135, -50)
|
86.2
|
94.2
|
8.0
|
101.8
|
0.83
|
0.27
|
206.4
|
|
includes
|
91.4
|
92.6
|
1.3
|
412.0
|
3.47
|
0.10
|
797.7
|
|
LJ DD10-08 (360, -90)
|
24.3
|
31.4
|
7.1
|
48.5
|
0.56
|
0.20
|
119.5
|
|
|
46.4
|
49.4
|
3.0
|
20.0
|
0.04
|
3.35
|
174.0
|
|
|
61.4
|
80.0
|
18.6
|
22.7
|
0.22
|
0.14
|
54.2
|
|
|
87.5
|
90.0
|
2.5
|
68.0
|
0.83
|
0.04
|
160.6
|
|
LJ DD10-09 (360, -90)
|
21.0
|
27.4
|
6.4
|
37.4
|
0.15
|
0.72
|
89.9
|
|
|
54.4
|
62.4
|
8.0
|
68.4
|
0.20
|
0.25
|
102.8
|
|
|
74.4
|
93.5
|
19.2
|
90.5
|
0.27
|
0.19
|
129.6
|
|
includes
|
74.4
|
78.0
|
3.6
|
259.4
|
0.40
|
0.10
|
308.3
|
|
LJ DD10-10 (180, -50)
|
36.0
|
50.0
|
14.0
|
36.2
|
0.32
|
0.10
|
76.3
|
|
|
55.0
|
57.0
|
2.0
|
91.7
|
0.71
|
0.03
|
171.1
|
|
|
65.0
|
92.0
|
27.0
|
47.5
|
0.48
|
0.15
|
107.7
|
|
|
101.0
|
107.0
|
6.0
|
31.2
|
0.40
|
1.15
|
132.5
|
*Ag equivalent is based on 100% metallurgical
recovery and price ratios of 6.25:1- Ag:Cu and 50:1- Au:Ag.
All sample analyses were completed by Inspectorate Exploration & Mining
Services Ltd. in Durango, Mexico and Richmond, BC and ALS Chemex in Zacatecas and North Vancouver.
Several holes contain anomalous molybdenum (Mo) and tungsten (W) values
over significant widths in skarn as
follows;
�
Hole LJ DD10-1; 112.3m to 137.75m (25.24m) @
0.014% Mo
�
Hole LJ DD10-1; 150.36m to 179.25m (28.29m) @
0.010% Mo
�
Hole LJ DD10-3; 141.95m to 203.66m (61.7m) @
0.015% W
�
Hole LJ DD10-4: 59.59m to 76.11m (16.52m) @ 0.011%
Mo
Both molybdenum and tungsten in skarn show values of up to 0.1%.
Preliminary exploration, consisting of surface sampling and geological
mapping, completed by the Company shows several near vertical 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 of anticlines. The main
alteration 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 with sulfide mineralization consisting of tetrahedrite (Ag), bornite
(Cu), and chalcopyrite (Cu). Native silver may also be present.
All holes reported show at least one significant interval of mineralization
and holes LJDD10-01 and LJDD10-04 show 4 and 6 distinct mineralized
intervals, respectively, at relatively shallow depths. A 3D
computer-generated geological model is evolving that will enable
correlation of the intercepts to determine if they are related to manto or vertical structures and if there is continuity
along strike and latterly.
The initial 22 hole drill program is expected to
test approximately one kilometre of the exposed
two kilometre strike length of the mineralized
system that includes the vertical structures and mantos.
Based on the encouraging results to date, a second drill rig has been
mobilized to accelerate this Phase I exploration program.
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 less than
US$375 per ounce of gold equivalent. SilverCrest
anticipates that the 2,500 tonnes per day
facility will produce approximately 35,000 ounces of gold and 600,000
ounces of silver per full production year from the initial 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.