Make Kitco Your Homepage

SilverCrest Metals adds permits, concessions

Kitco News

Mexican-focused SilverCrest said yesterday it received explosive permitting from Mexican authorities for the company's Las Chispas project.

The company said it can now further advance underground exploration of the Babicanora vein in both the Santa Rosa Decline and Babicanora historic adit.

The company also obtained local water rights, and it also excercised its remaining options to fully acquire the remaining four of the 28 concessions at Las Chispas, thereby obtaining 100% ownership in all Las Chispas mining concessions containing vein mineral resources.

Chief operating office N. Eric Fier said the company is working on its feasibility study.

"[With] the rainy season in Sonora coming to an end, the company is ramping back up from 14 drills to 17 over the next month," said Fier. "The company estimates completion of an additional 50,000 metres of drilling in H2 2019, allocating 15 drills on surface and two underground. With more than 100 drill holes awaiting assay results for release, an aggressive H2 2019 drill program, ongoing work related to the feasibility study, and a cash position of C$49 million, SilverCrest is well positioned through the balance of the year and into 2020."

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News