SilverCrest Accelerates Exploration of High Grade El Cholugo Zone at Santa Elena Mine

SilverCrest Mines Inc. announced initial results of its accelerated underground exploration of the El Cholugo Zone ("El Cholugo" or the "Zone") located immediately adjacent to the Main Mineralized Zone ("MMZ") currently in production at the Santa Elena Mine, Sonora/Mexico. SilverCrest's recently released technical report titled, "Update to Santa Elena Pre-Feasibility Study, Sonora, Mexico" ("PFS"), contemplated the exploration and development of El Cholugo in 2016. However, the high gold and silver grades over significant widths and lateral dimensions encountered underground has led the Company to accelerate exploration and development of the Zone with the view to its inclusion in this year's (2015) mine plan.

 

The El Cholugo Zone is a drill-identified epithermal vein system that intersects the MMZ at an oblique angle. Previous drilling has shown at least two mineralized veins in the Zone, Alejandra and El Cholugo Dos, to range from 1 to 15 m wide over a strike length of approximately 200 m and a height of an estimated 150 m. From previous drilling, the average width of the Alejandra vein is estimated to be 3.2 m and for El Cholugo Dos vein, 1 to 5 m. The Company is currently drifting on three levels (625 m, 600 m and 575 m elevations) from underground at Alejandra. Geometry of the mineralization is favorable for mining by long hole stoping method. Underground drifting on the Alejandra vein to date totals approximately 100 m on three levels. The Company will also be exploring underground on the 655 m level in Q2, 2015. Once the Alejandra vein is sufficiently defined, it may be partially incorporated into the 2015 mine plan. For reference, current PFS estimates for El Cholugo Reserves (cut and diluted) are 251 800 tonnes grading 2.58 gpt Au and 147.1 gpt Ag.

 

www.silvercrestmines.com

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