SilverCrest Reports Final RC Drill Results
and
Preliminary Metallurgy at Cruz de Mayo, Mexico
TSX-V: SVL
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For
Immediate Release
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VANCOUVER, B.C. July 26, 2007 �
SilverCrest Mines Inc. (the �Company�) is pleased to report assay results
for the final 4 reverse circulation (RC) drill holes of a total 27 RC 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.
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. (Please see press releases dated July 5, 2007
and May 24, 2007 on the Company�s web site, www.silvercrestmines.com
, for previously released results).
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
from these final holes are shown below and include hole CMRC07-48
with 39.0 metres (127.5 feet)
grading 48.0 gpt (1.4 opt) silver (see attached cross section CC). Within the
broader mineralized zone there is a higher grade intersection of 6.0 metres (19.6 feet) grading 131.5
gpt (3.8 opt) silver.
Hole
Number
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Interval
(ft)
|
Weighted
Average*
Ag gpt
|
Weighted
Average*
Ag opt
|
CMRC07-47
|
91.5
|
97.5
|
6.0
|
19.6
|
68.7
|
2.0
|
CMRC07-48
|
112.5
|
151.5
|
39.0
|
127.5
|
48.0
|
1.4
|
Includes
|
145.5
|
151.5
|
6.0
|
19.6
|
131.5
|
3.8
|
CMRC07-49
|
152.0
|
186.5
|
34.5
|
112.8
|
31.0
|
0.9
|
CMRC07-50
|
69.0
|
73.5
|
4.5
|
14.7
|
55.6
|
1.6
|
*Silver values for wt. avg. are uncut
It should be noted that
holes CMR07-48 and 49 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 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. 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.
The detailed drill area is 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.
Preliminary
Metallurgy Results
A total of 37 samples from four widely spaced RC
drill holes were blended to create six samples that are believed to be
representative of the low, medium and high grade silver mineralization of
the Cruz de Mayo silver deposit. These samples were then subjected to
standard bottle roll tests to determine the leachability of the silver and
gold mineralization by cyanide extraction. The tests were carried out by
the engineering firm of Sol & Adobe Ingenieros y Asociados, S.A.
de C.V of Hermosillo, Mexico
in conjunction with the University
of Hermosillo. The preliminary
report concluded that the mineralization from Cruz de Mayo is amenable to
leaching by cyanidation. The summary of the results are shown in the
following table.
Sample
No.
|
Extraction
(%)
|
Cyanide
Cons
|
Lime
Cons
|
Average
Head
Assay
(g/t)
|
�Calculated Head
Assay
(g/t)
|
Average Tail Assay (g/t)
|
|
Au
|
Ag
|
kg
|
kg
|
Au
|
Ag
|
Au
|
Ag
|
Au
|
Ag
|
1CM-1
|
94.46
|
66.16
|
0.88
|
�
5
|
�0.325
|
214.2
|
0.85
|
�192.7
|
0.05
|
69.7
|
1CM-2
|
89.10
|
59.91
|
0.96
|
�
5
|
�0.26
|
53.5
|
0.59
|
�48.4
|
0.07
|
21.0
|
1CM-3
|
88.15
|
59.39
|
1.84
|
�
5
|
�0.305
|
203
|
0.69
|
�188.2
|
0.09
|
83.5
|
1CM-4
|
93.04
|
80.35
|
0.56
|
�
5.5
|
�0.325
|
275
|
0.77
|
�231.3
|
0.06
|
51.0
|
1CM-5
|
83.24
|
36.59
|
0.93
|
�4
|
�0.335
|
55.5
|
0.49
|
�37.6
|
0.09
|
26.0
|
1CM-5R
|
84.00
|
47.97
|
1.13
|
�2.3
|
�0.335
|
55.5
|
0.51
|
�45.2
|
0.09
|
26.0
|
1CM-6
|
81.89
|
25.72
|
1.06
|
�4
|
�0.3
|
125.5
|
0.45
|
�88.5
|
0.09
|
72.0
|
1CM-6R
|
84.02
|
29.62
|
1.38
|
�2.3
|
�0.3
|
125.5
|
0.51
|
�92.9
|
0.09
|
72.0
|
Test
Conditions:
Sample weight: 1,000 g; Volume of Solution: 2,000
g; Total Time: 72 hours; Particle Size: -100 Mesh; Average pH: 11.4
Extraction based on Calculated Head
Composite
sample CM-4 gave the best extraction of 80.35% silver and 93.04% gold.
Composite samples CM-5 and CM-6 returned the lowest extractions for silver
at 36.59% and 25.72% respectively although adjustments to the test
parameters (1CM-5R and 1CM-6R) improved these recoveries to 47.97% and
29.62% respectively. Cyanide and lime consumptions averaged 1.09 kb/t and
4.14 kg/t which are within acceptable limits at this stage of testing.
J. Scott Drever, President stated �We are
certainly encouraged by these results at this early stage of testing.
Obviously we will be doing additional work to optimize test conditions to
achieve the best extraction possible and will undertake mineralogical
studies to better understand the composite samples� response to the cyanidation
process. Equally important will be the distribution of tonnage and grade of
the deposit and how these might relate to the preliminary recovery results.
We expect, shortly, to be in a position to announce the results of a NI
43-101compliant resource estimate for Cruz de Mayo and the relationships of
tonnage, grade and recovery will be invaluable in directing our ongoing
exploration efforts to define a substantial silver deposit.�
Cruz de Mayo is located on the southeast end of a
35 kilometre long trend referred to as 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 require further
investigation.
The Qualified
Person for this news release is N. Eric Fier, CPG, P.Eng.
and Chief Operating Officer for SilverCrest Mines Inc.
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