SilverCrest Announces Additional El Picacho Drill Results

2022-04-13 / @newswire

 

TSX: SIL | NYSE American: SILV

VANCOUVER, BC, April 13, 2022 /CNW/ - SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce additional results from its initial drill program at its El Picacho Property ("Picacho" or the "Property") located near Bacoachi, Sonora, Mexico. Picacho is located approximately 85 km by road northeast of the Company's Las Chispas project along a predominantly paved highway.

Drill results reported in this release are from 56,780 metres (247 drill holes) targeting the Picacho Zone which now includes five adjacent and subparallel epithermal veins including; the Picacho Main Vein ("Picacho Main" with historic resource), Picacho Hanging Wall Vein ("Picacho HW", see news release dated February 24, 2021), Picacho Hanging Wall 2 Vein ("Picacho HW2", new discovery), Picacho Hanging Wall 3 Vein ("Picacho HW3", new discovery) and Picacho Footwall Vein ("Picacho FW", new discovery) (see Tables below and attached Figures).

Highlights:

  • Initial Drilling of Historic Resource Completed, Expansion at Picacho Zone - A total of 68,200 metres (289 drill holes) at the Picacho Zone have been drilled to date including holes reported in a news release dated February 24, 2021. The focus of drilling was to better understand, redefine and potentially expand the Picacho Main Vein historic unverified resource1 of 7.8 million ounces silver equivalent ("AgEq"2) grading 8.50 grams per tonne ("gpt") gold ("Au") and 40.0 gpt silver ("Ag"), or 677 gpt AgEq. Overall, the Picacho Main and Picacho HW veins have expanded, and new vein discoveries are being reported within the Picacho Zone.
  • Picacho Main Vein Primary Focus of Drilling - Picacho Main Vein results, within a footprint of greater than 150 gpt AgEq ("Footprint"), are reported in this release. The average grade of these results is 5.42 gpt Au and 23.9 gpt Ag, or 431 gpt AgEq with an average estimated true width ("ETW") of 2.4 metres. Drilling in the Picacho Main Vein remains shallow with a maximum vertical drilled depth of approximately 300 metres and an approximate vein strike length of 550 metres. Drill spacing in the Footprint averages 35 metres.
  • New Vein Discoveries - While drilling the Picacho Main and Picacho HW veins, three new adjacent vein discoveries were intercepted. The cumulative strike length, within the defined Footprint for these veins, is approximately 400 metres. Overall, these veins average 7.47 gpt Au and 30.3 gpt Ag, or 591 gpt AgEq with an average true width of 0.9 metres.
  • Early-Stage Exploration, Drilling Continues - Currently less than 30% of the Property has had any mapping or sampling completed. Ongoing mapping, sampling, underground surveying of historical workings, target generation and geophysical interpretation continues as part of an early-stage exploration strategy. Two drills are expected to be active at Picacho throughout Q2, 2022.

1 Historic Resource Qualification: Picacho Main Vein has a historic unverified mineral resource estimate reported in 2010 (Wheatley, 2010) using 14 drill holes, underground channel sampling results and a polygonal estimation method. The reported estimate had 364,381 tonnes grading 8.54 gpt Au and 40.38 gpt Ag, or 100,060 ounces of Au and 473,052 ounces of Ag using a 1 gpt Au cutoff. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The Company is not treating this information as current mineral resources or reserves, has not verified this information and is not relying on it. The Company plans on using the historical drilling and estimates to help guide its exploratory drilling work.

2 AgEq based on 75(Ag):1(Au) calculated using long-term silver and gold prices of US$20 per ounce silver and US$1,500 per ounce gold.

N. Eric Fier, CPG, P.Eng, and CEO, remarked, "We are encouraged by our findings in the early days of exploration at Picacho.  Our initial drill program at the Property was focused on leveraging historic work to efficiently allocate our capital. This work program was successful in gathering significant information pertaining to the historic resource, expanding the Footprint, and highlighting the potential for further growth. Our objective is to delineate an initial mineral resource estimate and, while work remains to achieve this objective, we are encouraged by the initial results at Picacho. We are excited to continue with our strategy of finding high value, lower risk targets with modest hurdle rates for success."

Picacho was a historic gold and silver producer, with the first noted production in late 1800s with grades greater than 15 gpt gold (Bird, 1904). The Property was purchased by the Company in August 2020 for a total consideration of US$2.4 million, including government back taxes, for 100% ownership in 11 mining concessions totaling approximately 7,060 hectares.

Mineralization at Picacho is hosted within multiple low-sulphidation epithermal veins which include banded quartz, quartz-calcite breccia, quartz and calcite stockwork, and structures with pyrite, argentite, minor chalcopyrite and minor sphalerite being the predominant sulphide minerals. Initial drilling at the Property suggests the Picacho Zone is a gold dominant system with geological similarities to nearby Las Chispas and Santa Elena (discovered, developed and operated by the Company's predecessor, SilverCrest Mines, until late 2015).

Drilling to date at the Picacho Zone has expanded the mineralized footprint of the previous historic unverified resource in the Picacho Main Vein and defined a cumulative mineralized footprint of approximately 950 metres along vein strike and a maximum of approximately 300 metres down vein dip from surface. Mapping, sampling and drilling suggest there is potential for the strike length to be extended further with the veins remaining open to the northwest, southeast and down dip. Besides the Picacho Main Vein, the most continuous vein is the Picacho HW Vein. The new veins, including Picacho HW2, Picacho HW3 and Picacho FW, have not been primary targets of drilling to date.

A more detailed summary of the results for this release are presented below (see Figures) and are in addition to those previously released on February 24, 2021. Results remain outstanding for an additional 27,500 metres of drilling at other veins at Picacho.

  • Picacho Main Vein
    • Measures 550 metres along strike, averages 300 metres to depth with an average grade (uncut, undiluted), reported today, of 5.42 gpt Au and 23.9 gpt Ag, or 431 gpt AgEq with an ETW of 2.4 metres. The most significant drill intercept being reported today is hole PI21-195 at 3.7 metres of ETW grading 20.86 gpt Au and 72.9 gpt Ag, or 1,638 gpt AgEq.
    • Considering all drilling to date, Picacho Main has an average grade of 6.19 gpt Au and 31.8 gpt Ag, or 497 gpt AgEq and an ETW of 2.7 metres.
  • Picacho Hanging Wall Vein
    • Measures 500 metres along strike, averages 200 metres to depth with an average grade, (uncut, undiluted) reported today of 4.38 gpt Au and 37.6 gpt Ag, or 366 gpt AgEq with an ETW of 1.5 metres. The most significant drill intercept is hole PI21-153 at 1.3 metres of ETW grading 42.3 gpt Au and 542.0 gpt Ag, or 3,714 gpt AgEq.
  • Picacho Hanging Wall 2 Vein
    • Measures 200 metres along strike, averages 135 metres to depth with an average grade (uncut, undiluted), reported to date, of 6.32 gpt Au and 46.1 gpt Ag, or 520 gpt AgEq with an ETW of 0.8 metres. The most significant drill intercept is hole PI21-50 at 2.8 metres of ETW grading 11.9 gpt Au and 21.1 gpt Ag, or 912 gpt AgEq.
  • Picacho Hanging Wall 3 Vein
    • Measures 80 metres along strike, averages 100 metres to depth with an average grade (uncut, undiluted), reported to date, of 5.88 gpt Au and 8.7 gpt Ag, or 450 gpt AgEq with an ETW of 0.5 metres. The most significant drill intercept is hole PI21-182 at 0.8 metres of ETW grading 10.71 gpt Au and 7 gpt Ag, or 810 gpt AgEq.
  • Picacho Footwall Vein
    • Measures 100 metres along strike, averages 175 metres to depth with an average grade (uncut, undiluted), reported to date, of 9.45 gpt Au and 16.1 gpt Ag, or 725 gpt AgEq with an ETW of 1.3 metres. The most significant drill intercept is hole PI22-285 at 1.7 metres of ETW grading 37.09 gpt Au and 32.5 gpt Ag, or 2,815 gpt AgEq.

Drill intercept highlights from the program that are reported in this release are tabulated below. All grades are reported as uncapped and undiluted and based on a 150 gpt AgEq cut-off grade. This cut-off grade is used to evaluate exploration targets in the initial stages of work and may differ from the cut-off grade used for future resource estimations. The same drill hole number may be shown for different veins based on the same hole intercepting multiple veins.

Picacho Main

Hole ID

From
(m)

To
(m)

Drilled
Intercept
(m)

Estimated
True
Width
(m)

Au gpt

Ag gpt

 AgEq gpt*

PI21-043

134.9

137.1

2.2

1.7

4.37

10.9

339

PI21-045

148.1

150.6

2.6

2.0

3.95

10.9

307

PI21-049

293.4

299.2

5.7

4.6

2.88

9.4

225

PI21-052

76.9

81.4

4.5

3.6

6.47

111.9

597

Includes

79.1

80.4

1.4

1.1

14.35

277.0

1,353

PI21-061

180.7

182.9

2.2

1.7

2.24

15.1

183

PI21-065

196.7

198.0

1.4

1.1

5.88

4.8

446

PI21-066

284.8

285.4

0.6

0.5

6.04

7.9

461

PI21-076

369.6

370.7

1.1

0.9

3.20

11.1

251

PI21-102

178.5

186.6

8.2

6.5

5.02

7.8

384

PI21-103

128.0

148.7

20.8

16.6

3.00

4.0

229

PI21-105

155.0

159.9

4.9

3.9

2.86

16.2

231

PI21-106

161.8

162.7

0.9

0.7

2.23

59.8

227

PI21-109

131.9

133.4

1.5

1.2

5.11

12.9

396

PI21-110

139.5

144.1

4.5

3.6

5.28

7.3

403

PI21-112

169.5

175.8

6.3

5.1

1.96

7.9

155

PI21-114

152.2

154.0

1.8

1.4

4.86

7.0

372

PI21-116

179.5

181.4

1.9

1.5

2.79

14.3

223

PI21-117

150.9

160.5

9.6

7.7

3.44

13.8

272

PI21-119

180.3

181.8

1.4

1.2

4.63

6.5

354

PI21-122

70.5

71.3

0.8

0.6

2.61

18.4

214

PI21-124

88.8

89.8

1.0

0.8

3.86

4.5

294

PI21-127

183.5

184.7

1.2

1.0

2.12

31.3

190

PI21-129

199.2

199.8

0.6

0.4

2.24

2.1

170

PI21-131

224.9

225.8

0.9

0.7

3.71

22.2

300

PI21-134

197.6

200.0

2.4

1.9

1.80

24.9

160

PI21-136

83.0

83.6

0.6

0.5

2.04

15.7

169

PI21-137

162.8

164.2

1.4

1.1

3.90

2.9

295

PI21-138

118.2

118.9

0.7

0.5

2.69

9.1

211

PI21-139

146.5

151.0

4.5

3.6

3.45

29.9

289

PI21-140

114.7

119.5

4.9

3.9

4.95

25.8

397

PI21-142

111.4

113.1

1.7

1.4

11.41

30.0

886

PI21-143

190.8

193.9

3.1

2.5

1.88

44.5

185

PI21-144

93.3

97.3

4.0

3.2

10.40

37.3

817

Includes

95.1

96.1

1.0

0.8

26.80

63.7

2,074

PI21-145

107.1

110.8

3.7

2.9

2.30

11.5

184

PI21-146

177.3

179.4

2.1

1.7

2.06

50.1

205

PI21-150

78.5

79.1

0.6

0.5

2.65

16.5

215

PI21-151

60.1

64.3

4.2

3.4

2.88

12.8

229

PI21-154

59.5

61.1

1.6

1.3

7.06

18.5

548

PI21-155

113.4

118.9

5.5

4.4

2.68

29.2

231

PI21-156

306.7

312.0

5.4

4.3

10.18

19.5

783

Includes

309.9

311.4

1.5

1.2

23.70

26.8

1,804

PI21-161

87.9

90.1

2.2

1.8

2.21

6.3

172

PI21-162

205.8

206.7

0.9

0.7

4.35

2.0

328

PI21-163

51.6

59.9

8.3

6.6

8.32

30.1

654

Includes

52.8

55.4

2.6

2.0

13.79

56.3

1,091

PI21-168

335.3

336.2

0.9

0.7

9.97

10.6

758

PI21-174

48.6

51.6

3.1

2.4

4.98

36.2

410

PI21-175

193.2

194.5

1.3

1.1

4.06

1.3

306

PI21-176

352.7

353.5

0.8

0.7

2.47

26.8

212

PI21-177

297.8

301.5

3.7

2.9

5.15

16.2

403

PI21-183

151.9

152.6

0.7

0.6

2.17

2.7

165

PI21-188

113.6

116.4

2.8

2.3

14.16

30.4

1,092

PI21-194

175.7

176.3

0.6

0.4

2.74

4.8

210

PI21-195

218.4

223.1

4.7

3.7

20.86

72.9

1,638

Includes

219.2

219.9

0.7

0.6

42.10

129.0

3,286

PI21-196

255.4

256.0

0.6

0.4

1.40

76.7

182

PI21-197

174.2

174.9

0.7

0.6

4.15

0.9

312

PI21-200

142.8

144.8

2.0

1.6

2.70

19.7

222

PI21-205

256.7

257.3

0.6

0.5

10.10

3.8

761

PI21-215

243.1

247.0

3.9

3.1

8.74

35.6

691

Includes

244.5

245.4

0.9

0.7

17.70

92.2

1,420

PI21-218

101.5

107.0

5.5

4.4

2.49

9.6

196

PI21-221

109.0

115.5

6.6

5.3

3.20

15.4

255

PI21-223

229.5

231.3

1.8

1.4

2.45

1.5

185

PI21-224

46.5

49.4

3.0

2.4

4.92

16.9

386

PI21-226

352.2

353.1

1.0

0.8

2.87

47.9

263

PI21-236

54.1

58.8

4.7

3.7

2.59

26.7

221

PI21-238

100.3

102.0

1.7

1.4

2.26

10.4

180

PI21-243

226.4

230.1

3.7

3.0

10.47

30.6

816

Includes

226.4

227.3

0.9

0.7

29.50

54.1

2,267

PI21-245

214.8

215.5

0.7

0.5

3.89

12.9

305

PI21-247

207.4

210.8

3.4

2.7

3.63

20.7

293

PI21-249

224.4

225.6

1.2

0.9

2.28

12.5

183

PI21-250

174.5

175.1

0.6

0.5

58.30

85.8

4,458

PI21-251

242.9

246.1

3.2

2.6

18.66

213.8

1,613

Includes

244.6

245.1

0.6

0.5

37.30

244.0

3,041

PI21-254

212.3

221.0

8.7

6.9

2.39

34.9

214

PI21-258

116.6

124.1

7.5

6.0

11.35

51.6

903

Includes

116.6

117.6

1.1

0.9

40.70

249

3,302

PI22-260

116.7

132.4

15.7

12.6

4.66

8.0

358

Includes

119.7

120.2

0.5

0.4

13.35

14.3

1,016

PI22-261

133.6

135.4

1.7

1.4

4.83

9.7

372

PI22-262

171.3

172.2

0.9

0.7

2.13

3.5

163

PI22-263

101.6

103.8

2.2

1.7

3.15

12.8

249

PI22-265

231.2

232.4

1.2

0.9

2.44

8.2

191

PI22-269

212.3

215.8

3.5

2.8

1.94

13.4

159

PI22-270

70.8

72.3

1.6

1.3

2.63

6.4

204

PI22-272

52.0

56.0

4.0

3.2

21.07

47.1

1,627

Includes

54.0

54.8

0.8

0.7

44.5

102.0

3,440

PI22-274

230.8

234.0

3.3

2.6

4.71

9.8

363

PI22-279

73.3

73.8

0.5

0.4

5.89

42.7

484

PI22-280

46.7

47.8

1.1

0.9

1.95

4.5

151

PI22-284

70.8

71.5

0.7

0.6

3.54

21.5

287

PI22-285

88.1

88.6

0.6

0.5

30.90

166.0

2,483

PI22-286

147.0

148.4

1.4

1.2

2.88

19.9

236

Weighted Average

3.0

2.4

5.42

23.9

431


Picacho HW

Hole ID

From
(m)

To
(m)

Drilled
Intercept
(m)

Estimated
True
Width
(m)

Au gpt

Ag gpt

 AgEq gpt*

PI21-046

93.6

94.1

0.5

0.4

3.49

7.3

269

PI21-050

117.7

119.5

1.8

1.4

13.56

344.3

1,361

Includes

117.7

118.8

1.1

0.9

17.20

555.0

1,845

PI21-056

291.5

292.2

0.7

0.6

1.56

100.0

217

PI21-061

171.2

172.2

1.0

0.8

2.47

2.4

188

PI21-078

224.6

225.2

0.6

0.5

3.17

54.3

292

PI21-102

172.1

173.1

1.0

0.8

2.95

7.1

228

PI21-103

122.1

125.6

3.5

2.8

3.49

5.5

267

PI21-105

150.5

151.1

0.6

0.4

2.65

2.7

201

PI21-106

144.4

145.4

1.0

0.8

9.11

238.0

921

PI21-116

170.5

171.1

0.6

0.5

5.28

25.7

422

PI21-119

171.6

172.3

0.7

0.5

2.38

11.3

190

PI21-120

156.5

167.0

10.5

8.4

2.64

7.9

206

PI21-121

6.9

8.7

1.8

1.5

5.09

25.9

408

PI21-122

63.8

65.5

1.7

1.4

3.19

5.2

244

PI21-124

82.2

82.9

0.7

0.6

2.52

7.0

196

PI21-135

142.6

151.2

8.6

6.9

2.24

12.4

180

PI21-136

74.0

75.5

1.5

1.2

1.88

16.2

157

PI21-137

153.1

154.7

1.6

1.2

2.39

6.8

186

PI21-138

106.9

109.7

2.8

2.2

3.99

6.9

306

PI21-142

95.8

96.9

1.1

0.9

3.69

90.0

367

PI21-143

181.8

186.5

4.7

3.8

2.90

29.4

247

PI21-144

89.7

90.4

0.6

0.5

4.17

36.0

349

PI21-146

174.5

175.5

1.0

0.8

1.96

30.1

177

PI21-150

70.5

71.2

0.7

0.6

2.42

7.1

189

PI21-153

308.6

310.2

1.6

1.3

42.3

542.0

3,714

PI21-155

98.5

99.3

0.7

0.6

4.24

67.3

385

PI21-159

101.6

102.9

1.3

1.0

2.28

7.0

178

PI21-161

73.9

75.4

1.5

1.2

3.60

8.9

279

PI21-163

45.7

46.5

0.8

0.6

3.92

126.0

420

PI21-168

330.2

333.2

3.0

2.4

3.01

30.9

257

PI21-169

273.4

273.9

0.5

0.4

3.99

79.0

378

PI21-170

13.0

15.0

2.0

1.6

3.00

23.8

249

PI21-174

44.1

44.6

0.5

0.4

4.44

10.0

343

PI21-183

143.7

148.2

4.5

3.6

2.77

21.4

229

PI21-189

172.8

173.9

1.2

0.9

2.36

2.5

179

PI21-193

83.4

83.9

0.5

0.4

5.42

48.2

455

PI21-195

209.0

210.0

1.0

0.8

9.83

40.7

778

PI21-197

119.4

120.1

0.7

0.6

2.15

2.0

163

PI21-205

205.2

208.9

3.6

2.9

3.57

115.2

383

PI21-209

63.8

66.5

2.7

2.2

4.02

11.2

313

PI21-211

76.0

77.3

1.3

1.0

3.72

17.3

297

PI21-214

108.6

109.5

0.9

0.8

4.56

13.4

355

PI21-218

97.6

99.2

1.6

1.2

3.04

17.6

246

PI21-221

104.5

105.1

0.6

0.5

1.72

24.3

153

PI21-222

197.7

200.0

2.4

1.9

5.75

38.8

470

PI21-226

337.8

338.6

0.8

0.6

14.50

274.0

1,362

PI21-227

113.7

115.2

1.6

1.3

3.92

15.9

310

PI21-229

47.1

47.9

0.8

0.6

2.73

19.6

224

PI21-231

72.6

74.3

1.7

1.4

4.92

20.2

389

PI21-233

58.7

59.9

1.2

0.9

2.07

38.7

194

PI21-236

34.2

39.7

5.6

4.4

6.27

39.0

509

PI21-242

67.2

68.0

0.9

0.7

1.77

34.6

167

PI21-243

222.4

223.3

0.9

0.7

1.43

56.8

164

PI21-248

112.6

114.1

1.5

1.2

1.71

66.6

195

PI21-252

81.6

86.1

4.6

3.6

2.65

8.0

206

PI21-253

132.8

133.5

0.7

0.6

2.95

3.9

225

PI21-257

228.3

230.8

2.5

2.0

2.59

5.7

200

PI22-260

105.4

106.1

0.7

0.5

4.83

7.8

370

PI22-263

98.2

98.8

0.6

0.4

3.61

9.5

280

PI22-264

184.0

189.7

5.7

4.6

4.28

15.3

336

PI22-265

202.1

204.5

2.4

1.9

2.60

10.1

205

PI22-266

56.8

57.8

1.1

0.8

3.45

12.6

271

PI22-270

54.5

58.2

3.7

3.0

3.60

8.3

278

PI22-275

30.8

35.3

4.5

3.6

11.46

36.4

896

Includes

33.3

35.3

2.0

1.6

23.10

32.5

1,765

PI22-276

78.2

79.2

1.0

0.8

7.22

28.0

569

PI22-277

155.0

156.0

1.0

0.8

3.36

21.6

274

PI22-278

64.7

66.3

1.6

1.3

2.41

27.2

208

PI22-280

44.3

45.3

1.1

0.9

2.33

24.7

199

PI22-281

21.3

26.0

4.8

3.8

4.06

15.7

320

PI22-282

21.5

22.6

1.2

0.9

1.71

44.2

172

PI22-287

149.2

149.8

0.6

0.5

4.80

70.9

431

Weighted Average

1.9

1.5

4.38

37.6

366


Picacho HW 2

Hole ID

From
(m)

To
(m)

Drilled
Intercept
(m)

Estimated
True
Width
(m)

Au gpt

Ag gpt

 AgEq gpt*

PI21-050

103.0

106.5

3.5

2.8

11.88

21.1

912

Includes

105.7

107.0

1.3

1.0

36.66

91.1

2,841

PI21-063

177.7

178.4

0.7

0.5

10.95

12.6

834

PI21-102

153.5

154.2

0.8

0.6

6.95

15.4

537

PI21-103

114.5

115.0

0.6

0.4

3.38

31.9

285

PI21-105

141.9

142.4

0.6

0.4

2.02

0.8

152

PI21-109

104.1

104.6

0.5

0.4

5.45

55.8

465

PI21-127

164.4

165.0

0.7

0.5

4.17

26.7

339

PI21-146

169.3

170.0

0.7

0.6

3.97

16.5

314

PI21-155

88.8

89.3

0.5

0.4

1.93

7.1

152

PI21-207

59.6

60.5

1.0

0.8

0.13

356

366

PI21-213

91.9

93.2

1.2

1.0

15.40

13.7

1,169

PI21-216

13.2

14.8

1.6

1.3

2.57

28.3

221

PI21-242

62.0

63.1

1.1

0.9

2.49

31.7

218

PI21-248

102.1

102.6

0.5

0.4

1.80

86.8

222

PI22-270

50.1

50.7

0.6

0.5

3.72

3.0

282

PI22-277

148.7

150.5

1.8

1.5

4.96

59.8

431

PI22-287

145.0

145.5

0.5

0.4

2.53

16.6

206

Weighted Average

1.0

0.8

6.32

46.1

520


Picacho HW 3

Hole ID

From
(m)

To
(m)

Drilled
Intercept
(m)

Estimated
True
Width
(m)

Au gpt

Ag gpt

 AgEq gpt*

PI21-110

110.2

110.8

0.6

0.5

3.73

7.0

287

PI21-132

143.7

144.2

0.5

0.4

10.05

4.7

758

PI21-161

53.7

54.4

0.7

0.6

2.20

14.6

180

PI21-182

82.7

83.7

1.0

0.8

10.71

7.0

810

Includes

83.2

83.7

0.5

0.4

17.95

12.5

1,359

PI21-237

204.3

204.8

0.5

0.4

2.85

4.2

218

PI22-270

45.5

46.0

0.5

0.4

2.80

14.2

224

Weighted Average

0.6

0.5

5.88

8.7

450


Picacho FW

Hole ID

From
(m)

To
(m)

Drilled
Intercept
(m)

Estimated
True
Width
(m)

Au gpt

Ag gpt

 AgEq gpt*

PI21-043

165.7

167.7

2.1

1.6

8.21

17.3

633

PI21-107

41.6

42.4

0.8

0.6

2.45

1.9

186

PI21-140

126.9

128.5

1.6

1.3

2.49

22.3

209

PI21-186

165.4

166.0

0.6

0.5

3.78

21.7

305

PI21-209

163.1

163.8

0.7

0.5

3.73

25.8

306

PI21-258

137.9

141.5

3.6

2.8

2.75

8.7

215

PI22-266

96.0

97.4

1.5

1.2

3.05

3.1

232

PI22-285

116.7

118.8

2.2

1.7

37.09

32.5

2,815

Weighted Average

1.6

1.3

9.45

16.1

725


Notes:

All numbers are rounded.

Cut-off grade (COG) of 150 gpt AgEq is applied.

ETW is an estimated 80% of drilled intercept width.

AgEq based on 75(Ag):1(Au) calculated using long-term silver and gold prices of US$20 per ounce silver and US$1,500 per ounce gold.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.

The drill results also include that intercepted vein but were below the 150 gpt AgEq cut-off:  PI21-44, PI21-47, PI21-48,  PI21-51, PI21-53 to PI21-55, PI21-57, PI21-58 to PI21-60, PI21-62, PI21-64, PI21-67 to PI21-75, PI21-77, PI21-79 PI21-80 to PI21-101, PI21-104, PI21-108, PI21-111, PI21-113, PI21-115, PI21-118, PI21-123, PI21-125, PI21-126, PI21-128, PI21-130, PI21-133, PI21-141, PI21-147 to PI21-149, PI21-152, PI21-157, PI21-158, PI21-160, PI21-164 to PI21-167, PI21-171 to PI21-173, PI21-178 to PI21-180, PI21-181, PI21-184, PI21-185, PI21-187, PI21-189 to PI21-192, PI21-198, PI21-199, PI21-201 to PI21-204, PI21-206, PI21-208, PI21-210, PI21-212, PI21-217, PI21-219, PI21-220, PI21-225, PI21-228, PI21-230, PI21-232, PI21-234, PI21-235, PI21-239 to PI21-241, PI21-244, PI21-246, PI21-255, PI21-256, PI22-259, PI22-267, PI22-268 PI22-271, PI22-273, PI22-283, PI22-288, PI22-289.

2022 Picacho Program
The H1, 2022 exploration focus at Picacho is to map and sample unexplored areas and generate new drill targets. SilverCrest currently has two drill rigs operating at Picacho. Plans for the H2, 2022 exploration program will be determined as results are received and evaluated from the H1, 2022 program.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.

ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration and development company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's top priority is on the high-grade, historic Las Chispas mining district in Sonora, Mexico, where it has completed a feasibility study on the Las Chispas Project and is proceeding with mine construction. Start-up of processing at the Las Chispas Mine is targeted in Q2, 2022. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration programs at El Picacho Property, estimates of mineralization and plans for future exploration work, and the start-up of processing at the Las Chispas Mine in Q2, 2022. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: impact of the COVID-19 pandemic; the reliability of mineralization estimates, mining and development costs the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: uncertainty as to the impact and duration of the COVID-19 pandemic; the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; 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, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercrest-announces-additional-el-picacho-drill-results-301524598.html

SOURCE SilverCrest Metals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2022/13/c1171.html

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