Vancouver, British Columbia--(Newsfile Corp. - September 5, 2014) - SilverCrest Mines (TSX: SVL) (NYSE MKT: SVLC) announced results of underground infill drilling completed in July at its Santa Elena Mine. The 100% owned Santa Elena Mine, located in the State of Sonora, Mexico, is a high-grade, epithermal silver and gold producer.
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Twenty five closely spaced underground drill holes, with estimated 20 metre centres, totaling 2,856 metres were completed to better define reserves and verify widths and grades for planned production stopes. The underground high grades were confirmed with Hole SEUG-14-22 as an example showing 13 metres of 2.54 grams per tonne gold and 307.0 grams per tonne silver, including 0.7 metres of 18.25 grams per tonne gold and 2,900 grams per tonne silver. Results from these drill holes will be part of the resource update scheduled to be completed by early 2015.
N. Eric Fier, President & COO stated: "This underground drill program was successful in confirming previous resource model expectations with delineation of high grade zones in the initial stopes scheduled for production in 2014 and 2015. Valuable information was also provided from the program to better define reserves and first stope mine designs. This detailed in-fill information continues to improve our model and enhances tonnage and grade projections for production planning and budgeting."
Major expansion and commissioning of the 3,000 tonnes per day conventional mill facility is complete and is expected to significantly increase metals production at the Santa Elena Mine in the second half of 2014 and beyond. As of August 31, 2014, approximately 3,835 meters of underground lateral development including ramp access, 1,550 metres of ore development on 6 levels, and 260 metres of raise development had been completed by an independent contractor.
Underground exposure of the Santa Elena Main Mineralized Zone has provided opportunities for detailed mapping and sampling to assist with modeling and detailed planned mine production.
The initial production stope is currently being drilled with delivery of ore to the mill expected to commence once the cycle of drilling and blasting is completed and sufficient broken ore is available for extraction. Approximately 17,100 tonnes of higher grade development ore (grading 1.14 grams per tonne gold and 87.46 grams per tonne silver) were processed in August along with ore from the leach pad.
On August 27th, SilverCrest was the subject of a daily note from Zacks Investment Research titled: "Is SilverCrest Stock a Solid Choice Right Now?"
In summary, Zacks stated: "If you are looking for a decent pick in a strong industry, consider SilverCrest. Not only is its industry currently in the top third, but it is seeing solid estimate revisions of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment."
For the complete report (click here) or visit www.Zacks.com and enter "SilverCrest" in the search box.
SilverCrest currently trades at $2.00 on the Toronto Stock Exchange, and with 118.7 million shares outstanding, the company is capitalized at $237.4 million. For more information, including results from the 25 drill holes, and today's news release, please visit the company's website www.silvercrestmines.com, or contact Fred Cooper at 1-866-691-1730 ext 108 or email info@silvercrestmines.com.
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