VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/26/13 -- SilverCrest Mines Inc. (TSX VENTURE: SVL)(NYSE MKT: SVLC) (the "Company") is pleased to announce results of further delineation drilling at the Santa Elena Mine in Sonora, Mexico. One hundred and eleven holes of a revised planned 114 holes have been completed to re-categorize Indicated and Inferred Resources to Probable Reserves and expand current underground Resources (see Figure - http://media3.marketwire.com/docs/svl226-F1.pdf). This drill program continues to be extremely successful and several of the most recent holes have identified additional bonanza grade (as defined below) intercepts and two new zones (El Cholugo and El Cholugo Dos) that lie below and are sub-parallel to the Main Mineralized Zone currently being mined. All holes included in this program will assist with resource confirmation and reclassification, the results of which will be included in the upcoming Pre-Feasibility Study for the Santa Elena Expansion Project.
J. Scott Drever, President stated; "This delineation drill program has been immensely successful. We have drilled the known portion of the deposit at 35 to 40 metre centres, the Main Mineralized Zone has been extended by approximately 300 metres beyond our current resource boundary and we have identified two new sub-parallel zones, El Cholugo and El Cholugo Dos. We are eagerly awaiting the results of the revised underground resource and reserve estimations that are intended to extend the mine life well beyond the existing 6.5 year life of the current open pit heap leach. Our underground decline has progressed beyond 1,200 metres and a number of muck bays are within 25 metres of the underground portion of the ore deposit which will allow for early development of the deposit."
In this reported series, core holes SE-13-117, SE-13-119 and GT-12-09 have intercepted further Bonanza grades of silver (greater than 1,000 gpt Ag) ranging from 1.0 metre @ 1.50 gpt Au and 1,320 gpt Ag to 1.9 metres @ 2.34 gpt Au and 1,281.9 gpt Ag (see tables below).
Assay values in this series of holes range from 0.3 gpt to 27.2 gpt gold and 54.7 gpt to 1,320.0 gpt silver. Mineralized intervals range from 1.7 metres to 25.8 metres. All mineralized drill intercepts are near true thicknesses. The most significant assay results in this series of holes are shown in the following tables;
Main Mineralized Zone---------------------------------------------------------------------------- From To Interval Interval Au Au Ag AgHole ID (m) (m) (m) (ft) (gpt) (opt) (gpt) (opt)--------------------------------------------------------------------------------------------------------------------------------------------------------SE-12-60 416.5 420.9 4.4 14.4 0.30 0.009 111.4 3.2---------------------------------------------------------------------------- 432.6 441.7 9.1 29.8 5.60 0.163 158.0 4.6----------------------------------------------------------------------------Includes 433.6 434.6 1.0 3.3 27.20 0.793 469.0 13.7----------------------------------------------------------------------------SE-13-61 453.8 466.3 12.5 41.0 1.11 0.032 62.4 1.8----------------------------------------------------------------------------SE-12-75 439.7 447.9 8.2 26.9 2.82 0.082 107.5 3.1----------------------------------------------------------------------------Includes 442.5 444.6 2.1 6.9 6.61 0.193 204.3 6.0----------------------------------------------------------------------------SE-13-115 227.4 233.4 6.0 19.7 0.41 0.012 54.7 1.6---------------------------------------------------------------------------- 247.5 256.3 8.8 28.9 0.69 0.020 56.6 1.7----------------------------------------------------------------------------SE-13-116 446.4 463.1 16.7 54.8 2.94 0.086 161.5 4.7----------------------------------------------------------------------------Includes 451.4 455.4 4.0 13.1 5.87 0.171 281.5 8.2----------------------------------------------------------------------------SE-13-117 176.0 190.0 14.0 45.9 0.98 0.029 198.6 5.8----------------------------------------------------------------------------Includes 189.0 190.0 1.0 3.3 1.50 0.044 1,320.0 38.5----------------------------------------------------------------------------SE-13-118 188.1 204.1 16.0 52.5 1.05 0.031 111.9 3.3----------------------------------------------------------------------------includes 191.8 193.5 1.7 5.2 2.49 0.073 480.2 14.0----------------------------------------------------------------------------SE-13-119 215.1 240.9 25.8 84.6 1.24 0.036 187.6 5.5----------------------------------------------------------------------------includes 230.6 232.5 1.9 6.2 2.34 0.068 1,281.9 37.4----------------------------------------------------------------------------Note: All numbers are weighted averages, uncut and rounded.El Cholugo Zone---------------------------------------------------------------------------- From To Interval Interval Au Au Ag AgHole ID (m) (m) (m) (ft) (gpt) (opt) (gpt) (opt)--------------------------------------------------------------------------------------------------------------------------------------------------------GT-12-09 209.3 216.6 7.3 23.9 2.73 0.080 357.9 10.4----------------------------------------------------------------------------includes 214.6 215.8 1.2 3.9 3.90 0.114 1,239.5 36.2----------------------------------------------------------------------------SE-13-115 260.3 277.4 17.1 56.1 0.65 0.019 61.3 1.8----------------------------------------------------------------------------SE-13-117 234.1 237.8 3.7 12.1 1.19 0.035 123.7 3.6----------------------------------------------------------------------------SE-13-118 284.7 286.4 1.7 5.6 2.58 0.075 155.0 4.5----------------------------------------------------------------------------SE-13-119 243.8 246.6 2.8 9.2 1.46 0.043 99.7 2.9----------------------------------------------------------------------------Note: All numbers are weighted averages, uncut and rounded.El Cholugo Dos Zone---------------------------------------------------------------------------- From To Interval Interval Au Au Ag AgHole ID (m) (m) (m) (ft) (gpt) (opt) (gpt) (opt)--------------------------------------------------------------------------------------------------------------------------------------------------------SE-13-117 266.3 276.8 10.5 34.4 0.78 0.023 76.7 2.2----------------------------------------------------------------------------SE-13-118 334.9 339.1 4.2 13.8 0.90 0.026 70.8 2.1----------------------------------------------------------------------------SE-13-119 291.4 292.9 1.5 14.8 4.83 0.141 72.3 2.1----------------------------------------------------------------------------Note: All numbers are weighted averages, uncut and rounded.
