Silvercrest Metals’ drilling success at its project in Sonora, Mexico has increased their high grade footprint. With a strong cash position and properties located near producing mines, Silvercrest sees good potential for future success.
SilverCrest Metals Inc. is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historic precious metal districts. SilverCrest is the first company to drill test the historic, high grade Las Chispas Silver-Gold project, which is a past precious metals producer. The Company is led by a proven management team in all aspects of the precious metal mining sector, including experience and success in applying a responsible “phased approach” business model in taking projects from discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.
The Cruz de Mayo property is located in the State of Sonora, Mexico, approximately 22 km northwest of the town of Cumpas and 163 km north east of Hermosillo. The project is located 35 km directly northeast, and approximately 150 km total distance when travelled by paved road, of the Santa Elena mine. The Cruz de Mayo Property consists of two mineral concessions, Cruz de Mayo 2 and El Gueriguito, combining for a total area of 452 hectares. The Cruz de Mayo Property was transferred to SilverCrest Metals as part of the friendly acquisition of SilverCrest Mines by First Majestic. SilverCrest Metals has 100% ownership of the Cruz de Mayo 2 and El Gueriguito concessions through SilverCrest Metals Sub. The El Gueriguito concession is subject to a 2.5% NSR, to a maximum of U.S.$1,000,000. The surface rights to both concessions are held by a local rancher. Ownership of the mineral concessions provides the legal right to exploration on the concessions, however, SilverCrest has historically notified the land owner for permission and access to the property.
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