UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For the month of January, 2020.

Commission File Number 001-38628

SILVERCREST METALS INC.
(Translation of registrant’s name into English)

570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Canada
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F

Form 20-F[   ]       Form 40-F [X]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):[   ]

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):[   ]

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  SILVERCREST METALS INC.
   
  /s/ Anne Yong                                                                           
Date: January 16, 2020 Anne Yong
  Chief Financial Officer

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INDEX TO EXHIBITS

Exhibit Description
  
99.1   News Release dated January 16, 2020

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SilverCrest Metals Inc.: Exhibit 99.1 - Filed by newsfilecorp.com


 

SilverCrest Provides 2019 Highlights and 2020 Outlook

TSX: SIL | NYSE American: SILV  For Immediate Release

VANCOUVER, BC - January 16, 2020 - SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to summarize its 2019 highlights and present its outlook for 2020. SilverCrest begins 2020 with a strong balance sheet with C$124 million in the bank and no debt. The Company also starts the year with a substantial backlog of exploration drill results to report in Q1, 2020. The Company is working to complete the Feasibility Study for a mine construction decision, to continue with an aggressive exploration program and accelerate development work on the Las Chispas Project ("Las Chispas") in Sonora, Mexico.

N. Eric Fier, CPG, P.Eng, and CEO commented, "2019 was a great year for SilverCrest with the main focus on further de-risking of Las Chispas. The most significant 2019 highlights are (in chronological order for the year):

The hard work in 2019 has positioned us for another exciting year in 2020.  Our Exploration Team pushes forward on aggressively completing in-fill drilling for resource conversion to reserves; expanding on recent discoveries; and increasing our geological knowledge of the district for potential additional discoveries. In parallel, our Development Team continues to work on completion of the ongoing Feasibility Study; accelerate installation of operations administration offices and warehousing; install water works; expand underground development; stockpile high-grade mined material for potential processing; and expand SilverCrest's health and safety programs. Upon making a construction decision in mid-2020, the Development Team will also focus on hiring and training operations personnel; preparing operation readiness plans; and obtaining other minor construction permits. Collectively, the Company will continue and expand its positive relationship with the surrounding communities. We are very thankful and appreciative of all of our employees, contractors, local communities, government supporters, and shareholders for their contributions. We look forward to their continued support as we work hard to build value in 2020 and beyond."

2020 Outlook

Drill results reported from March 2019 through Q1, 2020 will be incorporated into the updated resource to be released with the Feasibility Study in H1, 2020.

Overall, the Company is in transition at Las Chispas from aggressive and systematic exploration, successful discovery, resource estimation, and the completion of a PEA to completing a Feasibility Study for a mine construction decision and potential major construction startup in mid-2020.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.

ABOUT SILVERCREST METALS INC.

SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. The Las Chispas Project consists of 28 mineral concessions, of which the Company has 100% ownership of where all the known mineral resources are located. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production. 

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration and drilling programs of the Las Chispas Property, including construction of the Area 51 decline, metallurgical test, mineralization estimates and grades for drill intercepts, permitting for various work and optimizing and updating the Company's resource model and preparing a feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Las Chispas Property. Such forward-looking statements are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

N. Eric Fier, CPG, P.Eng

Chief Executive Officer

SilverCrest Metals Inc.

 

 

For Further Information:

SilverCrest Metals Inc.

Contact: Jacy Zerb, Investor Relations Manager

Telephone: +1 (604) 694-1730

Fax: +1 (604) 357-1313

Toll Free: 1-866-691-1730 (Canada & USA)

Email: info@silvercrestmetals.com

Website: www.silvercrestmetals.com

570 Granville Street, Suite 501

Vancouver, British Columbia V6C 3P1