Thursday, 15th December 2005 (3050 views)

SilverCrest is to acquire the Santa Elena gold and silver project in Sonora, Mexico.

The project has a 600-hectare concession, which contains four accessible underground levels and is said to have five more that are inaccessible.

It is estimated that previous gold production stands at 100,000 ounces, including 45,000 tonnes grading 3.5 g/t gold. The historical gold estimate is 112,288 ounces.

SilverCrest aims to increase the strike length and the depth of the mineralisation in order to expand the gold and silver resources, in addition it will be looking to develop resources in the as yet untested footwall zone.

The company will be conducting a phase one drill programme in the first few months of 2006 to define the target resource.

Following full acquisition, the Santa Elena project will enlarge the SilverCrest's presence in Mexico, as it is near to its present 18,000-hectare Silver Angel concessions.

 

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