SilverCrest Mines announced last Monday it had identified a large bulk tonnage target at La Joya; Hole 17, intercepting 205.2m Grading 92.7 gpt silver equivalent. Investors reacted sharply to the news and recognized the potential at La Joya; the stock had a record trading week.
For investors following gold and silver stocks, Eric Sprott of Sprott Asset Management says, "Silver is the investment of this decade!" .
According to the Silver Institute, a report prepared by Thomson Reuters GFMS states: "The forecasts for world silver investment will reach a record high total of $10 billion in 2011, representing a 66 percent increase over the $6 billion posted in 2010."
Investors continue to turn to precious metals as a safe haven as the Euro- zone debt crisis makes headlines . A recent quote from Eric Sprott supports investor sentiment ,"The ultimate destiny for gold and silver is that people will prefer to own those investments rather than have money in the bank."
What the analysts and experts say about Silver Stock, SilverCrest Mines:
Ron Struthers, Struthers Resource Stock Report (11/16/11) "SilverCrest Mines Inc. released a large number of drill results from the La Joya project. In addition to its own new holes, the company was given complete access to a database of 51 historic holes; the large database now in SilverCrest's possession hasn't simplified the geology but it has highlighted, in management's opinion, the potential for La Joya to host a large bulk-tonnage resource in addition to the higher-grade structures the company has focused on."
Nicholas Campbell, Canaccord Genuity (11/15/11) "SilverCrest Mines Inc.'s phase 1 26-hole drill program is complete. . .33 of the holes completed on the Main Mineralized Trend (MMT) have drill defined a semi-continuous mineralized zone over 1,000m by 500m to a vertical depth of up to 230m. . .we expect an initial silver resource in excess of 50 Moz with gold and copper by-products. The 44 historical drill holes completed outside the MMT demonstrates the potential to expand the mineralization. . .longer-term, we see potential for La Joya to develop into a 100+ Moz silver resource."
Morning Coffee (11/15/11 ) "SilverCrest Mines Inc. announced that data compilation for the phase I drilling program and a newly received historic database has identified a large, near-surface bulk tonnage target at its La Joya silver-copper-gold property in Durango, Mexico. . .the program has defined a 500x1,000m semi-continuous zone of mineralization with mineralization drilled to a depth of up to 230m with Ag eq values of 15-202 g/t. . .La Joya could host an initial silver resource in excess of 40 Moz, with significant upside potential."
Greg McCoach, Mining Speculator (11/8/11) "SilverCrest Mines Inc. is greatly undervalued and should be making significant gains when silver resumes its next trek higher. On the production front, the company announced they have had continued growth of silver and gold production in the third quarter 2011 from the Santa Elena mine located in Sonora, Mexico: Compared with Q211, silver production was up 43% to 106,636 oz and gold production was up 61% to 8,805 oz... .the Company is a Buy at current levels."
2011 Milestones and Achievements
SilverCrest had a tremendously exciting year in 2011, achieving a number of milestones which have paved the way for further production growth and exploration success in 2012 and beyond.
We met or exceeded our goals and expectations for 2011 in the following areas:
A bought deal financing of $30 million was completed in May and debt repayment was accelerated throughout the year.
- Commercial production was declared in June at our flagship property, Santa Elena open pit, heap leach silver and gold mine.
- Positive cash flow was reported in Q2 and Q3 with projected 2011 annual production expected to reach approximately 26,000 oz Au and 400,000 oz Ag.
- Key executive and operating staff have been added to the already talented SilverCrest team.
- An aggressive expansion plan that will include the construction of a conventional mill facility and underground resource development of Santa Elena to double current production to commence soon.
"SilverCrest Mines Inc. is extraordinarily positioned in an exploding market sector with increasing production and cash flow, remarkable upside exploration potential and more than $32 million in cash, making it one of the premier investment vehicles in the silver space"
More about Silvercrest Mines (TSX-V: SVL, OTCQX: STVZF): videos, analyst commentary: http://www.theaureport.com/pub/co/292
Recent News: SilverCrest Mines (TSX-V: SVL ,OTCQX: STVZF) Identifies Large Bulk Tonnage Target at La Joya; Hole 17 intercepts 205.2m Grading 92.7 gpt Silver Equivalent ."
SilverCrest Mines Inc. announced last Monday, that data compilation for the Phase I drilling program and a newly received historic database has identified a large, near-surface bulk tonnage target at its La Joya property in Durango, Mexico. The compilation by SilverCrest has involved data and/or drill core review of 51 historic holes (14,786 metres) and 26 Company drill holes (5,716 metres) totaling 20,502 metres of drilling in 77 holes on the property. Verification or validation work completed by an Independent Qualified Person included review of 22 historic holes, Company drill information, geologic mapping, sampling, geochemistry, and historic airborne and ground geophysics. The compilation of these data will be incorporated into the upcoming NI43-101 Technical Report and resource estimate.
All 26 SilverCrest drill holes and 27 historic drill holes (verified with assays) intersected polymetallic mineralization that includes silver (Ag), copper (Cu), gold (Au), lead (Pb), zinc (Zn), tungsten (W) and molybdenum (Mo). Thirty three widely-spaced holes approximately 100 metres apart have identified a large, near-surface bulk tonnage target in the Phase I drilling area along the Main Mineralized Trend ("MMT") at La Joya.The MMT is defined, by using results from the Company's Phase I program and validated historic drill hole information, as a semi-continuous Ag-Cu-Au-Pb-Zn mineralized corridor with current "drilled-defined" dimensions of approximately 1,000 metres by 500 metres. The MMT includes a combination of wide vertical stockwork zones and multiple-stacked, polymetallic, stratabound horizons up to 230 metres in vertical thickness with grades ranging from 15.9 gpt to 202.4 gpt Ag equivalent*.
To view accompanying maps for the news release visit : http://media3.marketwire.com/docs/fourMaps.pdf
Full News release :http://www.investorideas.com/news/2011/mining/11142.asp
Contact:
SilverCrest Mines Inc.
Fred Cooper
604) 694-1730 ext. 108 or Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
Check out SilverCrest's Featured Videos
SVL New Alert: http://www.investmentpitch.com/media/1055/SilverCrest_Mines_Inc._TSXV:_SVL_News_Alert/
SVL La Joya project Site Video: http://www.silvercrestmines.com/video.asp?video=lajoya
SilverCrest Mines' Santa Elena Expansion Plan Animation:
http://www.silvercrestmines.com/video.asp?video=expansion
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