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SilverCrest Mines takes investors on animated tour of 100MM oz AgEq project
By Resource Intelligence · June 20, 2012 · 3:05 pm · Leave a Comment
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SilverCrest Mines has achieved steady production at its Santa Elena Mine in Sonora, Mexico. Total production for 2012 is targeted at 2.2 million ounces of silver equivalent*. The company has demonstrated strong earnings and continues to be cash flow positive in excess of $2 million per month.
Based on this success, SilverCrest has now redoubled its efforts to increase resources on its La Joya silver, gold, copper project in Durango, Mexico.
SilverCrest Mines has an agreement for purchase and sale of 100% of the La Joya Project.
The populous city of Durango is located approximately 1.5 hours driving distance with power, water and a reliable transportation corridor all located nearby.
The project is surrounded by other world class mines, including the Sabinas (Penoles), San Martin (Grupo), La Parilla (First Majestic) and La Colorada (Pan American) mines.
The La Joya project area totals 10.3 square km, within which the main mineralized zone measures approximately 2.5 km by 700 km. This area is the focus of resource growth on the project.
Since 2010, SilverCrest has completed 48 drill holes and 358 surface samples.
Drilling has been widespread within the Phase I area, which measures 1 km by 500 metres.
At a cut off grade of 15 g/t AgEq*. the known inferred resource includes 51,348,000 oz Ag, 333,400 oz Au and 270,296,000 pounds of Cu. This is equal to more than 100 MM oz silver equivalent in inferred resources. (Contained in 57,940,000 t @ 28 g/t Ag, 0.18 g/t Au & 0.21% copper.)
Future drilling is also expected to quantify concentrations of zinc, lead, tungsten and molybdenum.
Phase II exploration is currently adding up to 80 more drill holes to further test the Phase I area, and add additional resources from undrilled areas in the zone.
In March and May of 2012, SilverCrest announced a total of 22 holes from its Phase II 80 hole drill program which partially tested the northwestern extension of the trend.
Hole LB96‐04R drilled into this zone intersected multiple notable intercepts, including 58 metres grading 164.7 g/t Ag Eq*.
The company is re-analyzing core from an additional 56 historic drill holes completed between 1979 and 2003 by previous operators.
Analysis has identified the Coloradito molybdenum, tungsten, silver and gold target.
Coloradito has weighted average grades similar to near surface bulk tonnage deposits such as Thompson Creek, ID (0.046 to 0.081 % Mo), Endako, BC (0.030 to 0.046 % Mo), Sisson, NB (0.031% Mo, 0.094% WO3) and El Creston, Mexico (0.071% Mo, 0.06% Cu).
In addition to drilling at Coloradito, Phase II drilling will also test the nearby Santo Nino and Esperanza targets.
Go to www.silvercrestmines.com to find out more about this exciting investment opportunity.
(*Silver equivalency includes silver, gold and copper and excludes lead, zinc, molybdenum and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, US$3/lb copper. 100% metallurgical recovery is assumed.)
This presentation may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Issuer relies upon litigation protection for forward-looking statements. This piece is for information purposes only and is not a recommendation to buy or sell any securities.
