SilverCrest Reports More Silver at Cruz de Mayo, Mexico
TSX-V:�SVL Franfurt: CW5 |
For Immediate Release�� � |
VANCOUVER, B.C. June 5 2007 � SilverCrest Mines Inc. (the �Company�) is pleased to report assay results for an additional 11 reverse circulation (RC) drill holes out of a total of 27 holes drilled at its Cruz de Mayo Project in northern Mexico. These results continue to establish the continuity and grade of a silver mineralized zone that is now considered to be the discovery of a significant new silver deposit. The Cruz de Mayo Project is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company owns a 100% interest in 434 hectares and has a contract to purchase an additional 18 hectare concession.
RC drilling on approximately 100 to 150 metre centres has consistently intersected significant silver mineralization over a strike length of approximately 1.7 kilometres. Significant drill intercepts are shown below and include hole CMRC07-38 with 12.0 metres (39.4 feet) grading 169.5 gpt (4.9 opt) silver and hole CMRC07-43 with 79.5 metres (260.8 feet) grading 52.8 gpt (1.5 opt) silver (see attached cross sections B & D). Within the broader mineralized zones there are high grade intersections including 1.5 metres (4.9 feet) grading 453.0 gpt (13.2 opt) silver and 1.5 metres (4.9 feet) grading 314 gpt (9.2 opt) silver in holes CMR06-39 and CMR06-40 respectively.
Hole Number |
From (metres) |
To �(metres) |
Interval (metres)* |
Interval (feet)* |
Weighted Average** Ag gpt |
Weighted Average** Ag opt |
CMRC07-36 |
85.5 |
88.5 |
3.0 |
9.8 |
29.5 |
0.9 |
CMRC07-38 |
88.5 |
93.0 |
4.5 |
14.8 |
43.7 |
1.3 |
� |
130.5 |
142.5 |
12.0 |
39.4 |
169.5 |
4.9 |
CMRC07-39 |
40.5 |
46.5 |
6.0 |
19.7 |
156.5 |
4.6 |
�� includes |
40.5 |
42.0 |
1.5 |
4.9 |
453.0 |
13.2 |
CMRC07-40 |
54.0 |
63.0 |
9.0 |
29.5 |
78.8 |
2.1 |
�� includes |
54.0 |
55.5 |
1.5 |
4.9 |
314.0 |
9.2 |
CMRC07-41 |
54.0 |
60.0 |
6.0 |
19.7 |
41.0 |
1.2 |
�� includes |
57.0 |
58.5 |
1.5 |
4.9 |
85.0 |
2.5 |
CMRC07-42 |
3.0 |
51.0 |
48.0 |
157.4 |
34.9 |
1.0 |
�� includes |
3.0 |
9.0 |
6.0 |
19.7 |
116.3 |
3.4 |
CMRC07-43 |
16.5 |
96.0 |
79.5 |
260.8 |
52.8 |
1.5 |
�� includes |
34.0 |
39.0 |
5.0 |
16.4 |
93.0 |
2.7 |
�� includes |
48.0 |
54.0 |
6.0 |
19.7 |
116.8 |
3.4 |
�� includes |
82.5 |
94.5 |
12.0 |
39.4 |
106.0 |
3.1 |
CMRC07-44 |
33.0 |
37.5 |
4.5 |
14.8 |
26.3 |
0.8 |
� |
75.0 |
88.5 |
13.5 |
44.3 |
38.9 |
1.1 |
* Numbers are rounded ** Silver values for wt. avg. are uncut
Holes CMRC07-45 and 46 intersected the favorable horizon outside the silver mineralized zone and showed no significant results. Hole CMRC07-37 was lost before intersecting the mineralized zone. The remaining 4 RC drill holes will be reported as the results are compiled and interpretations are made.� It should be noted that hole CMR07-44 ended in the mineralized zone with silver values greater than 34 gpt (1.0 opt) silver. Gold results are pending. Previous gold analysis shows 0.3 to 0.7 gpt gold within the higher grade areas of mineralization. All analyses were completed by ALS-Chemex in Hermosillo, Mexico and North Vancouver, BC.
The Company completed three initial core holes in late 2005 to test the possible extension of a small historical silver resource identified in the 1970�s and followed up with a 20 core drill program in early 2006. A more recent RC drilling program of 27 holes was completed in the 1st quarter 2007. The initial series of 12 RC drill hole results were reported in a press release dated May 24, 2007.� With all of the re-sampling results of the core holes in hand and approximately 85% of the RC results compiled, silver grades can now be related to the geology and more confidence can be placed on the interpretation of the nature and style of mineralization.
The oxidized stockwork zone that contains the silver mineralization has been defined over a total strike length of approximately 2.5 kilometres. Approximately 800 metres of this length have been tested with detailed drilling while the remainder has been tested with widely spaced holes. This detailed drill area will be the subject of a Technical Report that will provide a NI 43-101 compliant resource estimate. The report and the resource estimate are nearing completion and will be released as soon as it has been vetted by a third party, independent Qualified Person. The favorable host for stockwork silver mineralization is a ryholite bed which dips at about 25� to the southwest nearly parallel to the slope of the topography. This �dip slope� makes for potentially low strip ratios for the deposit. The deposit remains open to the northwest and will be the subject of additional work.
Initial bottle roll metallurgical test work on six samples is underway at the University of Sonora, Hermosillo under the direction of �Sol y Abode, Ingenieros Asociados, S.A. de C.V. of Hermosillo, Mexico. These tests will give preliminary indications of the amenability of the silver mineralization to leaching and should assist in determining whether the project may potentially be a large tonnage open pit heap leach operation.
Cruz de Mayo is located on the southeast end of a 35 kilometre long trend, the �Silver Angel Trend�. The Company controls most of the trend and continues reconnaissance exploration work to define targets similar to Cruz de Mayo. The trend has several small, high grade historical silver-gold producers which required further investigation.
The Qualified Person for this news release is N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. |