SilverCrest Mines Inc TSXV:SVL announced an initial resource estimate for La Joya Property in Durango, Mexico. Using a cutoff of 15 g/t silver equivalent, the inferred resource is estimated at 57.9 million tonnes grading 28 g/t silver, 0.18 g/t gold and 0.21% copper for 51.3 million ounces silver, 333,400 ounces gold and 270.3 million pounds copper, or a total of 101.9 million ounces silver equivalent. Silver equivalency is based on prices of $24 per ounce silver, $1,200 per ounce gold and $3 per pound copper.
Using a cutoff of 30 g/t silver equivalent, the inferred resource is estimated at 35.5 million tonnes grading 39 g/t silver, 0.22 g/t gold and 0.30% copper for 44.3 million ounces silver, 246,000 ounces gold and 237.5 million pounds copper, or a total of 86.4 million ounces silver equivalent.
The estimate is based on phase I drilling and sampling of the Main Mineralized Trend, which has a 2.5-kilometre length and a 500-metre average minimum width. Phase II drilling is underway.
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by Greg Klein