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InvestmentPitch.com Analyst Ted Ohashi Interviews Scott Drever, President of SilverCrest Mines and David Morgan, publisher of The Morgan Report - Video Posted on InvestmentPitch.com
Wednesday, June 05, 2013
InvestmentPitch.com Analyst Ted Ohashi Interviews Scott Drever, President of SilverCrest Mines and David Morgan, publisher of The Morgan Report - Video Posted on InvestmentPitch.com18:30 EDT Wednesday, June 05, 2013
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2013) - InvestmentPitch.com Analyst Ted Ohashi, CFA, interviews Scott Drever, President of SilverCrest Mines Inc. (TSXV: SVL) (NYSE MKT: SVLC) and David Morgan, publisher of The Morgan Report.
This video interview can be viewed at InvestmentPitch.com. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Morgan" in the search box.
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SilverCrest Mines is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, located 150 kilometres northeast of Hermosillo, near Banamichi in the State of Sonora, México.
The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au). SilverCrest anticipates that the 2,500 tonnes per day open pit heap leach facility at the Santa Elena mine should recover approximately 625,000 ounces of silver and 33,000 ounces of gold in 2013. An expansion plan is well underway to nearly double the annual metals production in 2014 at the Santa Elena Mine (open pit and underground). Exploration programs have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State with stated resources nearing 200 million ounces of Ag equivalent.
On May 29, 2013 the company announced updated Reserve and Resource estimations for its Santa Elena Mine in Sonora, Mexico. The updated Probable Reserves (underground, open pit and leach pad) are estimated at 8.2 million tonnes grading 74.9 grams per tonne silver and 1.24 grams per tonne gold containing 19.7 million ounces of silver and 327,430 ounces of gold, representing a 103% increase in contained silver and 50% increase in contained gold over previous Probable Reserves stated below.
Updated Indicated Resources (exclusive of Probable Reserves) are estimated at 2.1 million tonnes grading 114.9 grams per tonne silver and 1.69 grams per tonne gold containing 7.9 million ounce of silver and 116,000 ounces of gold, representing a 127% increase in contained silver and 99% increase in contained gold over previous Indicated Resources. Details of the updated Reserves and Resources are available on the company's website.
J. Scott Drever, President commented: "We are extremely pleased with the results of our updated Reserve and Resource estimates for the underground, open pit and heap leach pad definition and resource expansion drill program. The significant increase in Reserves has clearly defined processing feed for our planned 3,000 tonne per day processing facility (Milling & CCD leaching) for an additional 8 years. What is even more exciting is that we have yet to define the limits of the Main Mineralized Zone and have only begun to explore the newly discovered high grade El Cholugo and El Cholugo Dos zones. We look forward to a banner year in 2014 with the commissioning of the new processing facility in Q1 2014 and the expansion of our annual metals production to an estimated 3.5 to 4.0 million ounces of silver equivalent (55:1 Ag:Au). "
David Morgan is a widely recognized analyst in the precious metals industry and consults for hedge funds, high net worth investors, mining companies, depositories and bullion dealers. He is the author of "Get the Skinny on Silver Investing", and a featured speaker at investment conferences in North America, Europe and Asia. For more information please visit www.silver-investor.com .
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports.
Barry Morgan, CFO