All sample analyses were completed by ALS Chemex in Hermosillo, Mexico and North Vancouver, BC.
Assays for Hole SE-12-60, SE-12-61, and SE-12-75 were pending in a previous news release and are now presented above. Hole GT-12-09 previously reported only the Main Mineralized Zone with the El Cholugo Zone intercept now reported above.
The El Cholugo Zone continues to expand with 5 new drill hole intercepts. The dimensions of this newly discovery zone are now approximately 200 metres long by 100 metres high and open to the west and to depth. A new parallel mineralized zone (EL Cholugo Dos) was intercepted below the El Cholugo discovery in hole SE-13-117 with 10.4 metres @ 0.78 gpt Au and 76.7 gpt Ag; hole SE-13-118 with 4.2 metres @ 0.90 gpt Au and 70.8 gpt Ag, and hole SE-13-119 with 4.5 metres @ 4.83 gpt Au and 72.3 gpt Ag. Dimensions of this new discovery are currently unknown with further drilling anticipated to test this mineralization. Both of these new zones will be easily accessible from the underground development of the adjacent Main Mineralized Zone. A series of holes are being drilled to the west of SE-13-117 to test all three zones at depth.
Several Holes reported previously (Holes SE-12-72, SE-12-73, SE-12-74, and SE-12-111) extended the strong silver and gold mineralization along the Main Mineralized Trend to the east and to depth. These intercepts are up to 200 metres beyond the boundary of current resource estimates. This area beyond previous resource boundaries is now approximately 300 metres long by 200 metres high by 5 to 10 metres thick and open to the east and to depth and will be included in the upcoming revised resource estimates. Further drilling is underway to help delineate this area of potential expansion.
Approximately 39,000 metres of drilling have been completed to date in the program to convert underground resources to reserves and expand total resources. Results for the next series of holes will be released once compilation of results is complete. Three drills are currently on site completing the in-fill program. Further expansion drilling, beyond the in-fill program, will continue in 2013. Revised Santa Elena Resources and Reserves are expected in Q1 2013 with subsequent reporting of the results of Pre-Feasibility Study for the Expansion Plan.
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.
SilverCrest Mines Inc. (TSX VENTURE: SVL)(NYSE MKT: SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the life of the current open pit at the Santa Elena Mine. A three year expansion plan is well underway to double metals production at the Santa Elena Mine (open pit and underground) and exploration programs have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State.
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