SilverCrest Updates Status of Drill Programs.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- SilverCrest Mines Inc. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SVL SVL Service Level SVL Shared VLAN Learning SVL Saginaw Valley League (High School Conference, Michigan) SVL Savonlinna, Finland - Savonlinna (Airport Code) SVL Schwimmverein Limmat ) is pleased to announce the results of the initial 11 drill holes completed at the Silver Angel Prospect in Mexico and 3 drill holes at the Blackstone Project in Idaho. Drilling continues at the Company's 100% owned El Zapote Project in El Slavador and an update on these results is expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. in the near future. SILVER ANGEL PROSPECT, MEXICO The Silver Angel Prospect is located within the Angel de Plata Concession near Arizpe, State of Sonora, Mexico and is one of several areas identified within a large area of alteration and silver-gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. (8 x 3 kilometres) that could host high grade silver deposits as well as have potential to host large tonnage, lower grade silver deposits. Surface work over a limited area of approximately 100 hectares and sampling of existing underground workings completed by the Company in early 2004 provided target areas to initially test both the high grade and larger tonnage models. Eleven reverse circulation holes, totaling 1,108 metres with an average depth of 100 metres, were drilled to test these initial targets. The most significant results of the drill program are presented in the following table.
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Weighted Average
Grades
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DH Hole FROM TO INTERVAL INTERVAL Ag Ag Au
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Number (metres) (metres) (metres) (feet) gpt opt gpt
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AP3 0.0 2.0 2.0 6.5 98.0 2.86 trace
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AP4 0.0 2.0 2.0 6.5 Trace Trace 1.38
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AP9 10.0 14.0 4.0 13.1 196.0 5.70 trace
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AP10 2.0 20.0 18.0 59.0 18.0 0.50 0.20
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AP11 0.0 10.0 10.0 32.8 31.5 0.92 0.15
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Drill hole AP9 intersected 4.0 metres of 196 grams per tonne (5.70 ounces per ton) silver and represents an intercept within the high-grade target identified previously by surface and underground sampling. Further drilling to define the extent of this zone will be carried out in work programs contemplated for 2005. Drill holes AP 1, 2, and 5 to 8 had numerous 2 to 4 metre intersections of 6 to 20 grams per tonne silver and 0.1 to 1 grams per tonne gold that confirm the presence of a low grade mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone. This mineralization lies within the quartz stockwork zone which previous surface sampling returned values of 1 to 5 ounces per ton silver. Possible surficial sur·fi·cial adj. Of, relating to, or occurring on or near the surface of the earth. [surf(ace) + (superf)icial.] Adj. 1. , supergene su·per·gene n. A group of closely linked genes occupying a large chromosomal segment and frequently functioning as a genetic unit. enrichment may account for the difference between the drill results and surface sampling. The favorable geological unit that hosts this extensive low grade mineralization has been identified in other areas of the concession and will be explored to determine if an area of higher, potentially economic silver grades can be identified. Surface sampling of another high-grade structure called El Pavo, located approximately 3 kilometres west of the Silver Angel prospect but still within the Angela de Plata Concession, returned the following channel sampling results; --------------------------------------------------- --------------------------------------------------- Width Width Ag Ag Au --------------------------------------------------- (metres) (feet) gpt opt gpt --------------------------------------------------- --------------------------------------------------- 1.5 4.9 129 3.76 trace --------------------------------------------------- 1.0 3.2 72 2.1 0.36 --------------------------------------------------- 2.0 6.5 302 8.8 0.56 --------------------------------------------------- 2.0 6.5 804 23.4 0.17 --------------------------------------------------- Further work on El Pavo will consist of detailed mapping and sampling with the view to defining additional drill targets. The Company is planning follow up work on Silver Angel including further drill testing of the defined high grade silver structure and follow up work on several other partially defined targets within the 10,500 hectare concession. All holes were completed by reverse circulation drilling under contract with Dateline Drilling of Hermosillo, Mexico. Analysis of samples was completed by ALS-Chemex Labs in Hermosillo, Mexico and North Vancouver North Vancouver, city (1991 pop. 38,436), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver, of which it is a suburb. Shipbuilding, woodworking, and the shipping of grain, lumber, and ore are the chief industries. , British Columbia. BLACKSTONE PROJECT, IDAHO Three due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. core holes (B04-1, 2 and 3), totaling 658 metres (2,159 feet) have been completed at the Blackstone Project near Mountain Home, Idaho Mountain Home is a city in Elmore County, Idaho, United States. The population was 11,143 at the 2000 census. The city is the county seat of Elmore CountyGR6. Mountain Home Air Force Base is located nearby. . All holes intersected the Company's defined targets and showed a large altered and sheared sheared adj. Shaped or finished by shearing, especially cut or trimmed to a uniform length: a sheared fur coat. Adj. 1. zone as previously interpreted. The most significant results from drilling include several discontinuous discontinuous /dis·con·tin·u·ous/ (dis?kon-tin´u-us) 1. interrupted; intermittent; marked by breaks. 2. discrete; separate. 3. lacking logical order or coherence. , low-grade silver (5 to 20 grams per tonne) and copper (100 to 700 ppm) intercepts. Hole B04-1 was a near-twin hole of hole S-4, drilled by previous operators which reportedly intercepted 88metres of 3.5 ounces per ton silver and 1.5% copper. The results of the Company's drilling and sample analysis did not confirm this intercept. This drill program satisfies the underlying conditions for a due diligence period that extends to April 15, 2005. The Company will review all available data prior to the expiry of the due diligence period to determine if further work is warranted. Drilling was completed by Boart-Longyear from Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. and analysis of samples was completed by ALS-Chemex Labs in Elko, Nevada Elko is a city in Elko County, Nevada, United States. The population was 16,980 at the 2000 census. It is the county seat of Elko CountyGR6. Geography and Climate Elko is located at (40.836396, -115. and North Vancouver, British Columbia. The Qualified Person, as defined by National Policy 43-101, responsible for the preparation of the technical information included in this press release and for supervision of field activities related to the Company's projects is N. Eric Fier, CPG CPG central pattern generators. , P. Eng P. ENG Professional Engineer P. ENG process engineer ., Qualified Person and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Company. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , 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 im·pre·cise adj. Not precise. im pre·cise ly adv. and, as such, undue reliance should not be placed on
forward-looking statements.On Behalf of the Board of Directors of SilverCrest Mines Inc. J. Scott Drever, President The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. SilverCrest Mines Inc. (TSX VENTURE:SVL) |
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