Santa Elena Expansion Pre-Feasibility Study

 

VANCOUVER, BC - SilverCrest Mines Inc. has filed its NI 43-101 Technical Report entitled Santa Elena Expansion Pre-Feasibility Study and Open Pit Reserve Update for its operating mine located in Sonora, Mexico.

Updated Mineral Reserve and Resource estimations for Santa Elena Mine show probable reserves (underground, open pit and leach pad) at an estimated 8.2 million tones grading 74.9 gpt Ag and 1.24 gpt Au containing 19.7 million ounces of silver and 327,430 ounces of gold. Updated indicated resources were estimated at 2.1 million tones grading 114.9 gpt Ag and 1.69 gpt Au containing 7.9 million ounce of silver and 116,000 ounces of gold. Only mineral reserves were used in the PFS mine plan, schedule and economic analysis. Mineralization at Santa Elena is open in most directions with excellent potential to further increase resources and reserves for increased production and mine life.

J. Scott Drever, Chairman and CEO said, We are extremely pleased with the results of the PFS which confirms our expectations that the transition from our open pit heap leach operation to a conventional mill and underground operation will represent a very attractive project with robust economics even at current reduced metal prices. The 8 year mine life will give SilverCrest a strong corporate cash flow providing a solid foundation for continued systematic and aggressive growth. We look forward to a banner year in 2014 with the commissioning of the new processing facility in the first quarter and the significant expansion of our annual metals production at Santa Elena.