Mineral Resources

SilverCrest’s Las Chispas Resource Summary – February 2019
Resource Category
(1)(3)(4)(7)
Tonnes Au Ag AgEq(2)
gpt
Contained
Gold
Ounces
Contained
Silver
Ounces
Contained
AgEq(2)
Ounces
(M) Gpt Gpt
September 2018 Inferred Resource 4.3  3.68  347.0  623   511,500     48,298,700  86,701,200
February 2019 Resources
Indicated Resource 1.0  6.98  710.6  1,234  224,900  22,894,800  39,763,600
Inferred Resource 3.6  3.32 332.5 581 388,300 38,906,000  68,069,800
By Category and Location:  Babicanora Area(5)
Indicated Resources 1.0 6.98 710.6 1,234  224,900  22,894,800 39,763,600
Inferred Resources 1.8 5.15  448.9 835 302,300  26,349,700 49,021,900
Las Chispas Area(6)
Indicated Resources -  -    -    -    -    -    -  
Inferred Resources 1.8  1.48  215.4  327  86,000  12,556,300  19,047,900

Notes: All numbers are rounded

  1. Conforms to NI 43-101, Companion Policy 43-101CP, and the Canadian Institution of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Resources and Mineral Reserves. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.
  2. AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.
  3. Bulk density has been applied to all materials as 2.55 tonnes per cubic metres.
  4. Vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 0.5 m true width, Babicanora Norte, Babicanora Sur, Babicanora FW and Babicanora HW veins have been modelled to a minimum undiluted thickness of 0.5 m, Babicanora Main has been modelled to a minimum undiluted thickness of 1.5m, and surface stockpile (historic dumps) resource is reported using a 100 gpt AgEq cut-off.
  5. Babicanora Area includes the Babicanora, Babicanora Footwall, Babicanora Hangingwall, Babicanora Norte, Babi Sur and Granaditas veins.
  6. Las Chispas Area includes the Las Chispas, Giovanni (including La Blanquita), William Tell, Luigi, Giovanni Mini Veins and Historical Dumps. Inferred Resources for the Las Chispas Area remains unchanged from September 2018.
  7. There are no known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.
Babicanora Area Veins, Las Chispas Resource Summary – February  2019  
Resource Category
(1)(3)(4)
Tonnes Au Ag AgEq(2)
gpt
Contained
Gold
Ounces
Contained
Silver
Ounces
Contained
AgEq(2)
Ounces
By Vein and Category:   Gpt gpt
Babicanora
Indicated Resources 646,800 6.57 682.8 1,175 136,500 14,198,000 24,438,600
Inferred Resources 670,300 4.56 500.0 842 98,300 10,775,800 18,145,100
(includes) Shoot 51(5) Indicated 280,100 10.09 1,059.8 1,816 90,900 9,543,200 16,360,700
(includes) Shoot 51(5) Inferred 92,000  8.54 983.8 1,625 25,300 2,912,100 4,809,600
Babicanora Norte 
Indicated Resources 130,500 11.57 1,180.0 2,047 48,500 4,950,900 8,590,300
Inferred Resources 277,700 8.21 779.6 1,395 73,300 6,960,000 12,458,000
Babicanora FW  
Indicated Resources 157,000 7.49 675.5 1,237 37,800 3,411,200 6,248,500
Inferred Resources 207,400 7.62 465.4 1,037 50,800 3,103,800 6,913,400
Babicanora HW
Indicated Resources 67,800 0.93 153.5 223 2,000 334,800 486,200
Inferred Resources 31,500 0.80 145.3 205 800 147,100 207,500
Babicanora Sur
Indicated Resources - - - - - - -
Inferred Resources 543,900 4.10 268.1 575 71,600 4,687,800 10,058,700
Granaditas
Indicated Resources - - - - - - -
Inferred Resources 95,100 2.46 220.9 405 7,500 675,100 1,239,200

Notes: All numbers are rounded

  1. Conforms to NI 43-101, Companion Policy 43-101CP, and the Canadian Institution of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Resources and Mineral Reserves. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.
  2. AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.
  3. Bulk density has been applied to all materials as 2.55 tonnes per cubic metres.
  4. Vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 0.5 m true width, and Babicanora Norte, Babicanora Sur, Babicanora FW and Babicanora HW veins have been modelled to a minimum undiluted thickness of 0.5m, Babicanora Main has been modelled to a minimum undiluted thickness of 1.5m.
  5. Shoot 51 (zone) is located within the Babicanora Vein.
  6. There are no known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.
SilverCrest’s Las Chispas Resource Summary – September 2018
Resource Category(¹) Tonnes
(M)
Au
gpt
Ag
gpt
AgEq(2
gpt
Contained
Au Ounces
Contained
Ag
Ounces
Contained
AgEq(2) Ounces
February 2018 Resource  3.4 3.63 296.0 568 401,600 32,675,600 62,826,100
  Includes* 1.0 7.43 469.0 1,026 231,000 14,581,000 32,247,000
September 2018 Resource 4.3 3.68 347.0 623 511,500 48,298,700 86,701,200
  Includes** 1.6 6.97 568.5 1,091 359,900 29,343,600 56,333,400

 

Inferred Resource Summary By Vein – September 2018
Vein(6) Tonnes Au
gpt
Ag
gpt
AgEq(2)
gpt
Contained
Au Ounces
Contained
Ag
Ounces
Contained
AgEq(2) Ounces
Babicanora(4) 1,931,200 5.06 447.2 826 314,100 27,763,700 51,318,800
 Includes Area 51 1,116,800 7.13 613.8 1,148 256,000 22,040,000 41,238,100
Babicanora Norte 488,800 6.61 464.8 961 103,900 7,303,600 15,095,300
Granaditas 95,100 2.46 220.9 405 7,500 675,100 1,239,200
Las Chispas 171,000 2.39 340.0 520 13,000 1,869,500 2,861,000
Giovanni(4)(5) 686,600 1.47 238.7 349 32,500 5,269,000 7,699,800
William Tell(5) 595,000 1.32 185.0 284 25,000 3,543,000 5,438,000
Luigi 186,200 1.32 202.1 301 7,900 1,210,200 1,803,000
Historic Dumps(5) 174,500 1.38 119.0 222 7,600 664,600 1,246,100

Notes:
* Area 51 zone only in maiden resource.
**Combination of Area 51 zone and adjacent Babicanora Norte Vein resource estimation.

  1. Conforms to NI 43-101, Companion Policy 43-101CP, and the Canadian Institution of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Resources and Mineral Reserves. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.
  2. AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$18.50 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 86.6% silver and 98.9% gold.
  3. All numbers are rounded.
  4. Babicanora resource includes the Babicanora Vein with Area 51 zone and Babicanora Footwall Vein. Giovanni resource includes the Gio-mini and the La Blanquita veins.
  5. Resource estimations for the Las Chispas and William Tell veins and the historic dumps are unchanged from the Maiden Resource.  
  6. Vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 1.5 m true width (approximate), and surface stockpile resource is reported using a 100 gpt AgEq cut-off.

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