SVL's New La Joya Project

HRA Journal (12/08/2010)
"SilverCrest Mines had a good month as a gold/silver developer and benefited from traders looking for silver deals. It also gained on the announcement of a new project in Durango State, Mexico. The La Joya project covers 4 km. of favorable trends for shallow-dipping mantos that are cut by sub-vertical veins. On first reading, this sounds like quite a solid follow up to the company's mine output. . .testing by previous operators of the mantos returned up to 24.7m of 120 g/t silver, 1.7% copper, 0.3 g/t gold and 2.9m of 705 g/t silver, 3% copper and 0.2 g/t gold. SilverCrest collected 118 surface samples that returned an average 90 g/t silver, 0.71% copper and 0.25 g/t gold, with higher results in the +200 g/t silver and +1% copper range. Mantos are typically sheets of mineralization controlled by the rock layering, and can be very high grade. At La Joya, the mantos mineralization is found at the apex of a series of anticlines (the top of a series of 'A' shaped folds). SilverCrest has begun a drill program to test about 1 km. of trend length.

We like the sound of this project as an exploration play to further the SVL goal of staged growth through mine development. . .Our outlook for SVL is speculative buy for leverage to gold and silver prices and ahead of initial drill testing results from the new La Joya project."

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