The current drill program has been focused on expanding high-grade mineralization for known veins and testing targets for possible new precious metal discoveries. Results released today are for 45 holes with 11,350 metres drilled within El Muerto.

El Muerto is estimated to have an average high-grade footprint of 500m along strike and is 100m to 200m below the current Babicanora vein resource. Drilling highlights included 1.5m grading 12.68 grams per tonne gold and 1,724g/t silver. El Muerto will be included in the updated resource that will be issued with the ongoing feasibility study.

"The recent discovery of the El Muerto zone continues to show that Las Chispas has significant additional potential as we focus on expansion and new discoveries of high-grade mineralisation in the district," said SilverCrest CEO Eric Fier.

Shares in Silvercrest Metals are trading at C$11.80, valuing the company at $1.5 billion.