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 OF
THE SECURITIES EXCHANGE ACT OF 1934
January 30, 2024
Commission File No. 0001-34184
SILVERCORP
METALS INC.
(Translation of registrant’s name into English)
Suite 1750 - 1066 West Hastings
Street
Vancouver, BC Canada V6E 3X1
(Address of principal executive office)
[Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]
Form 20-F [ ] Form
40-F [ X ]
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.
|
|
Dated:
January 30, 2024 |
SILVERCORP METALS INC. |
|
|
|
/s/ Derek Liu |
|
Derek Liu |
|
Chief Financial Officer |
EXHIBIT INDEX
|
|
EXHIBIT |
DESCRIPTION OF EXHIBIT |
Exhibit 99.1
Silvercorp Reports High-Grade Silver Drill Results
at The TLP Mine
Trading Symbol
TSX: SVM
NYSE American:
SVM
VANCOUVER, BC, Jan. 30, 2024 /CNW/ - Silvercorp Metals
Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report assay results from its ongoing
diamond drilling program at the TLP mine within the Ying Mining District, China (Figure 1).
Highlights (all intersections are in core lengths)
High-grade intercepts of Ag mineralization in the
Surface Zone (SF Zone):
- Surface hole ZKTDB0102 intersected
2,186 grams per tonne ("g/t") silver ("Ag"), 6.80% lead ("Pb"), 0.35% zinc ("Zn"), 0.11 g/t gold
("Au"), and 0.43% copper ("Cu") over a 2.29 metre ("m") interval of vein T1W2 at the 1,014 m elevation
- Surface hole ZKTDB0207 intersected
948 g/t Ag, and 0.47% Pb over a 0.55 m interval of vein T28E at the 1,104 m elevation; and 1,453 g/t Ag, 4.58% Pb, 1.69% Zn, and 0.53%
Cu over a 0.66 m interval of vein T1 at the 1,097 m elevation
- Underground hole ZKT0839
intersected 1,646 g/t Ag, 2.92% Pb, 1.53% Zn, and 0.33% Cu over a 0.60 m interval of vein T14E at the 912 m elevation; and 1,045 g/t
Au, 7.03% Pb, 0.58% Zn, 0.09 g/t Au, and 0.12% Cu over a 1.13m interval of vein T16E2 at the 897 m elevation, and
- Underground hole ZKT1008 intersected 938 g/t Ag, 7.97%
Pb, 0.62% Zn, 0.12 g/t Au, and 0.17% Cu over a 1.73 m interval of vein T14E at the 918 m elevation
High-grade Ag intercepts at the Production Zone (P
Zone):
- Underground hole ZKG1830
intersected 5,955 g/t Ag, 1.53% Pb, 0.98% Zn, 0.05 g/t Au, and 0.21% Cu over an 0.60 m interval of vein T22E2 at the 757 m elevation;
and 1,737 g/t Ag, 12.60% Pb, 0.9% Zn, and 0.20 g/t Au over a 0.59 m interval of vein T16W at the 743 m elevation
- Underground hole ZKG0324
intersected 442 g/t Ag, 9.65% Pb, 0.13% Zn, 0.10 g/t Au, and 0.09% Cu over a 3.24 m interval of vein T15W at the 773 m elevation,
and
- Underground hole ZKT1317 intersected 661 g/t Ag, 1.07%
Pb, 0.68% Zn, 0.44 g/t Au, and 0.71% Cu over a 1.94 m interval of vein T1W1 at the 638 m elevation; and 1,004 g/t Ag, 2.43% Pb, 6.22%
Zn, 0.70 g/t Au, and 0.20% Cu over a 0.52 m interval of vein T1 at the 631 m elevation
From June 16 to December 31, 2023, a total of 23,742
m in 180 diamond drill holes, including 157 underground holes and 23 surface holes, were completed at the TLP mine. Assay results for
158 holes have been received, of which 101 holes intersected mineralized vein structures. Selected assay results are presented in Table
1 below.
This drilling program has been focused on two target
areas: 1) silver-lead vein structures in the resource area at higher elevations, close to surface (SF Zone), which have seen limited exploration;
and 2) infill drilling in the production area (P Zone), particularly above or below previously-mined stopes, where production stopped
due to higher than modelled variability in grades, thicknesses, and attitudes of the vein structures (Figure 2).
1)
Drilling Near-Surface Ag-Pb Vein Structures within SF Zone
In addition to the 23 surface drill holes, which account
for over 12.8% of the drill holes in this program, many underground holes drilled also targeted the vein structures at higher elevations
above 900 m elevation. High-grade Ag-Pb vein structures intersected include the T1 series, T2, T3, T14 series, T15 series, T16 series,
T23 series, T26 series, and T28 series (Table 1).
2)
Drilling Above or Beneath Previously-Mined Stopes within P Zone
Most holes drilled during this period targeted blocks
of known Ag-Pb vein structures that were previously missed due to limited drilling or tunneling, or changes in thickness, strikes and
dips of the pay-zones in veins within the resource areas below the 900 m elevation. The high-grade intercepts are mainly associated with
the northwest-dipping T1 series, T2 series, T3 series, T11 series, T15 series, T16 series, T23 series, and T31 series, and the east-dipping
T14, T22 series, and T28 series. These intercepts are expected to significantly expand and upgrade resources. Since the ramps and access
tunnels are already in place, these defined high-grade blocks could be quickly developed and mined.
Table 1: Selected intercepts at the TLP mine in
the reporting period
Hole ID |
From
(m) |
To
(m) |
Elevation
(m) |
interval
(m) |
Ag
(g/t) |
Pb
(%) |
Zn
(%) |
Au
(g/t) |
Cu
(%) |
Vein |
Zone |
ZKG0142 |
89.70 |
90.44 |
581 |
0.74 |
449 |
2.22 |
1.23 |
0.68 |
0.34 |
T15W |
P |
ZKG0207 |
121.60 |
122.10 |
585 |
0.50 |
78 |
2.33 |
0.24 |
0.09 |
0.23 |
T11E1 |
P |
ZKG0207 |
167.08 |
167.62 |
581 |
0.54 |
171 |
1.11 |
0.21 |
0.57 |
0.04 |
T11E2 |
P |
ZKG0320 |
46.08 |
47.73 |
775 |
1.65 |
198 |
2.05 |
0.46 |
0.05 |
0.04 |
T15W |
P |
ZKG0324 |
46.00 |
49.24 |
773 |
3.24 |
442 |
9.65 |
0.13 |
0.10 |
0.09 |
T15W |
P |
ZKG0324 |
77.12 |
78.09 |
754 |
0.97 |
127 |
0.93 |
0.11 |
0.05 |
0.01 |
T11 |
P |
ZKG0327 |
65.45 |
66.05 |
788 |
0.60 |
245 |
0.47 |
0.01 |
0.12 |
0.01 |
T11 |
P |
ZKG0815 |
183.80 |
184.33 |
722 |
0.53 |
68 |
4.93 |
0.22 |
0.01 |
0.01 |
T15W |
P |
ZKG0818 |
178.84 |
179.35 |
714 |
0.51 |
1,143 |
2.75 |
0.35 |
0.22 |
0.11 |
T15W1 |
P |
ZKG1611 |
25.89 |
27.16 |
748 |
1.27 |
387 |
1.07 |
0.28 |
0.05 |
0.18 |
T22E3 |
P |
ZKG1612 |
57.19 |
57.70 |
748 |
0.51 |
232 |
0.55 |
0.03 |
0.05 |
0.03 |
T16W1 |
P |
ZKG1613 |
123.64 |
124.19 |
743 |
0.55 |
477 |
0.70 |
0.22 |
0.05 |
0.04 |
T15W4 |
P |
ZKG1811 |
2.07 |
2.59 |
761 |
0.52 |
183 |
1.15 |
0.11 |
0.05 |
0.03 |
T22E |
P |
ZKG1812 |
1.82 |
3.50 |
762 |
1.68 |
525 |
1.34 |
0.25 |
0.05 |
0.05 |
T22E |
P |
ZKG1830 |
15.37 |
15.97 |
757 |
0.60 |
5,955 |
1.53 |
0.98 |
0.05 |
0.21 |
T22E2 |
P |
ZKG1830 |
68.16 |
69.25 |
747 |
1.09 |
80 |
2.70 |
0.24 |
0.05 |
0.02 |
T22E |
P |
ZKG1830 |
87.68 |
88.27 |
743 |
0.59 |
1,737 |
12.60 |
0.09 |
0.20 |
0.04 |
T16W |
P |
ZKG1833 |
137.76 |
138.79 |
738 |
1.03 |
634 |
1.10 |
0.19 |
0.01 |
0.06 |
T15W2 |
P |
ZKG1844 |
70.07 |
71.26 |
735 |
1.19 |
223 |
2.67 |
0.12 |
0.05 |
0.13 |
T22E |
P |
ZKG1844 |
86.14 |
86.70 |
729 |
0.56 |
1,089 |
2.30 |
1.57 |
0.05 |
0.09 |
T16W |
P |
ZKG2009 |
75.96 |
77.43 |
815 |
1.47 |
7 |
0.07 |
0.01 |
2.26 |
0.01 |
T16 |
P |
ZKG2011 |
87.34 |
87.85 |
728 |
0.51 |
648 |
0.45 |
0.93 |
0.03 |
0.02 |
T16W |
P |
ZKG2204 |
149.99 |
150.49 |
823 |
0.50 |
386 |
0.52 |
0.12 |
0.01 |
0.03 |
T16W |
P |
ZKG2206 |
156.66 |
157.38 |
787 |
0.72 |
77 |
1.80 |
0.17 |
0.05 |
0.03 |
T16W |
P |
ZKG2405 |
110.07 |
110.57 |
830 |
0.50 |
69 |
1.78 |
6.66 |
0.41 |
0.09 |
T17W2 |
P |
ZKT0109 |
23.30 |
23.83 |
890 |
0.53 |
376 |
9.76 |
0.05 |
0.01 |
0.01 |
T1W |
P |
ZKT0109 |
33.16 |
33.73 |
889 |
0.57 |
292 |
6.43 |
0.11 |
0.01 |
0.01 |
T1 |
P |
ZKT0109 |
121.00 |
121.69 |
882 |
0.69 |
296 |
1.77 |
0.27 |
0.01 |
0.01 |
T2W1 |
P |
ZKT0827 |
41.17 |
42.79 |
917 |
1.62 |
295 |
1.72 |
0.19 |
0.01 |
0.01 |
T11 |
P |
ZKT0840 |
12.83 |
13.78 |
917 |
0.95 |
107 |
0.78 |
0.14 |
0.05 |
0.01 |
T15 |
P |
ZKT0840 |
109.34 |
109.89 |
878 |
0.55 |
47 |
4.22 |
0.17 |
0.05 |
0.01 |
T11E4 |
P |
ZKT0843 |
5.78 |
6.42 |
920 |
0.64 |
245 |
0.42 |
0.12 |
0.05 |
0.01 |
T15W |
P |
ZKT0843 |
14.80 |
15.58 |
916 |
0.78 |
846 |
0.82 |
0.26 |
0.05 |
0.13 |
T15 |
P |
ZKT1007 |
105.96 |
107.63 |
910 |
1.67 |
440 |
4.02 |
0.93 |
0.05 |
0.13 |
T31W3 |
P |
ZKT1009 |
205.80 |
206.30 |
816 |
0.50 |
201 |
5.04 |
0.18 |
0.05 |
0.06 |
T1W2 |
P |
ZKT1010 |
73.02 |
73.52 |
888 |
0.50 |
22 |
10.14 |
0.10 |
0.05 |
0.01 |
T28 |
P |
ZKT1010 |
166.09 |
166.60 |
877 |
0.51 |
149 |
5.32 |
0.27 |
0.05 |
0.03 |
T1W2 |
P |
ZKT1166 |
115.99 |
116.59 |
640 |
0.60 |
85 |
1.48 |
0.31 |
0.35 |
0.24 |
T1W1 |
P |
ZKT1316 |
120.49 |
121.09 |
642 |
0.60 |
231 |
2.48 |
0.12 |
0.16 |
0.12 |
T1W1 |
P |
ZKT1317 |
84.92 |
85.50 |
643 |
0.58 |
222 |
0.03 |
0.01 |
0.05 |
0.01 |
T23 |
P |
ZKT1317 |
104.42 |
105.08 |
640 |
0.66 |
194 |
1.70 |
0.04 |
0.49 |
0.02 |
T1W2 |
P |
ZKT1317 |
114.72 |
116.66 |
638 |
1.94 |
661 |
1.07 |
0.68 |
0.44 |
0.71 |
T1W1 |
P |
ZKT1317 |
134.53 |
135.03 |
635 |
0.50 |
148 |
1.47 |
0.07 |
0.26 |
0.48 |
T1W4 |
P |
ZKT1317 |
164.10 |
164.62 |
631 |
0.52 |
1,004 |
2.43 |
6.22 |
0.70 |
0.20 |
T1 |
P |
ZKT1338 |
124.37 |
125.62 |
646 |
1.25 |
146 |
0.38 |
0.21 |
0.26 |
0.12 |
T1W2 |
P |
ZKT1338 |
134.58 |
135.09 |
645 |
0.51 |
383 |
1.19 |
1.48 |
0.63 |
0.20 |
T1W1 |
P |
ZKT1516 |
53.54 |
54.21 |
650 |
0.67 |
236 |
2.38 |
0.13 |
0.10 |
0.13 |
T33E1 |
P |
ZKT1516 |
147.10 |
150.04 |
639 |
2.94 |
108 |
0.67 |
0.27 |
0.42 |
0.33 |
T1W1 |
P |
ZKT1516 |
208.70 |
209.25 |
631 |
0.55 |
269 |
1.68 |
1.67 |
1.33 |
0.12 |
T2W |
P |
ZKT3311 |
37.49 |
38.60 |
743 |
1.11 |
84 |
1.14 |
0.12 |
0.13 |
0.04 |
T23 |
P |
ZKT3312 |
36.97 |
37.52 |
742 |
0.55 |
244 |
0.73 |
0.75 |
0.72 |
0.03 |
T23 |
P |
ZKT3312 |
88.34 |
89.12 |
733 |
0.78 |
29 |
3.96 |
0.06 |
0.05 |
0.13 |
T2 |
P |
ZKT3314 |
94.80 |
95.56 |
717 |
0.76 |
21 |
2.64 |
0.07 |
0.21 |
0.53 |
T2 |
P |
ZKT3314 |
116.39 |
117.19 |
709 |
0.80 |
20 |
6.62 |
0.09 |
0.05 |
0.49 |
T14 |
P |
ZKT3713 |
152.15 |
153.50 |
714 |
1.35 |
65 |
5.91 |
0.30 |
0.11 |
0.01 |
T33W |
P |
ZKT3912 |
0.00 |
1.05 |
799 |
1.05 |
188 |
0.09 |
0.57 |
0.05 |
0.01 |
T30 |
P |
ZKT3912 |
61.53 |
62.42 |
788 |
0.89 |
211 |
3.15 |
0.15 |
0.28 |
0.08 |
T31W |
P |
ZKT3921 |
44.37 |
44.89 |
789 |
0.52 |
116 |
1.65 |
0.10 |
0.05 |
0.01 |
T21 |
P |
ZKT4102 |
112.16 |
112.96 |
718 |
0.80 |
18 |
0.97 |
0.10 |
5.28 |
0.03 |
T2W |
P |
ZKT4110 |
54.67 |
55.49 |
787 |
0.82 |
234 |
0.62 |
0.29 |
0.05 |
0.04 |
T31 |
P |
ZKT4116 |
0.00 |
1.25 |
802 |
1.25 |
343 |
0.43 |
0.07 |
0.05 |
0.01 |
T23W |
P |
ZKT4116 |
3.16 |
3.85 |
801 |
0.69 |
231 |
1.97 |
0.04 |
0.05 |
0.01 |
T23 |
P |
ZKT4116 |
30.35 |
31.39 |
792 |
1.04 |
123 |
1.76 |
0.13 |
0.05 |
0.24 |
T2 |
P |
ZKT4116 |
32.38 |
33.36 |
791 |
0.98 |
26 |
2.60 |
0.58 |
0.05 |
0.00 |
T2E1 |
P |
ZKT4117 |
1.49 |
2.06 |
801 |
0.57 |
169 |
0.16 |
0.05 |
0.01 |
0.01 |
T23W |
P |
ZKT4117 |
6.18 |
6.71 |
800 |
0.53 |
138 |
0.36 |
0.06 |
0.01 |
0.01 |
T23 |
P |
ZKT4117 |
28.52 |
30.10 |
794 |
1.58 |
55 |
2.49 |
0.18 |
0.01 |
0.01 |
T2 |
P |
ZKT4117 |
53.17 |
56.04 |
788 |
2.87 |
81 |
1.81 |
0.17 |
0.01 |
0.01 |
T3E |
P |
ZKT4133 |
37.03 |
37.60 |
774 |
0.57 |
62 |
8.19 |
0.27 |
0.05 |
0.01 |
T31W3 |
P |
ZKT4133 |
51.61 |
52.22 |
772 |
0.61 |
113 |
4.44 |
0.16 |
0.05 |
0.01 |
T3E |
P |
ZKT4133 |
78.63 |
79.32 |
770 |
0.69 |
63 |
5.99 |
0.13 |
0.27 |
0.08 |
T31 |
P |
ZKT4310 |
47.13 |
47.81 |
768 |
0.68 |
83 |
5.27 |
0.07 |
0.05 |
0.41 |
T31W3 |
P |
ZKT4318 |
90.46 |
91.87 |
732 |
1.41 |
33 |
1.03 |
0.08 |
1.88 |
0.03 |
T23 |
P |
ZKT4319 |
3.01 |
4.83 |
800 |
1.82 |
191 |
0.55 |
0.04 |
0.05 |
0.02 |
T23W |
P |
ZKT4321 |
63.93 |
64.43 |
793 |
0.50 |
211 |
2.49 |
0.26 |
0.05 |
0.17 |
T2 |
P |
ZKT4325 |
43.71 |
47.07 |
795 |
3.36 |
153 |
3.35 |
0.65 |
0.30 |
0.01 |
T23 |
P |
ZKT4325 |
64.35 |
65.89 |
792 |
1.54 |
251 |
2.39 |
0.23 |
0.12 |
0.19 |
T2 |
P |
ZKT4326 |
53.18 |
54.15 |
809 |
0.97 |
137 |
0.28 |
0.04 |
0.01 |
0.01 |
T23 |
P |
ZKT4327 |
52.33 |
53.51 |
810 |
1.18 |
114 |
1.86 |
0.07 |
0.12 |
0.04 |
T23 |
P |
ZKT4327 |
80.31 |
80.95 |
815 |
0.64 |
127 |
0.43 |
0.09 |
0.01 |
0.04 |
T2 |
P |
ZKT4329 |
155.76 |
156.44 |
671 |
0.68 |
9 |
3.59 |
0.03 |
0.10 |
0.00 |
T20 |
P |
ZKT4511 |
151.66 |
153.13 |
706 |
1.47 |
30 |
13.92 |
0.04 |
2.20 |
0.01 |
T2 |
P |
ZKT4511 |
157.64 |
158.43 |
704 |
0.79 |
18 |
3.96 |
0.21 |
0.05 |
0.04 |
T2E1 |
P |
ZKT4511 |
160.65 |
161.70 |
704 |
1.05 |
21 |
6.00 |
0.42 |
0.12 |
0.08 |
T3 |
P |
ZKT4512 |
147.17 |
147.67 |
692 |
0.50 |
14 |
5.99 |
1.20 |
0.05 |
0.09 |
T2E1 |
P |
ZKT4512 |
150.80 |
152.14 |
690 |
1.34 |
17 |
3.48 |
0.04 |
0.05 |
0.02 |
T3 |
P |
ZKT0124 |
9.98 |
10.93 |
965 |
0.95 |
242 |
0.05 |
0.10 |
0.02 |
0.05 |
T22W1 |
SF |
ZKT0125 |
24.99 |
25.95 |
957 |
0.96 |
192 |
2.21 |
0.17 |
0.12 |
0.19 |
T22W |
SF |
ZKT0125 |
42.88 |
46.08 |
949 |
3.20 |
219 |
2.32 |
0.28 |
0.07 |
0.03 |
T26E |
SF |
ZKT0148 |
51.25 |
55.54 |
963 |
4.29 |
227 |
2.88 |
0.10 |
0.17 |
0.03 |
T1W1 |
SF |
ZKT0149 |
53.91 |
55.51 |
962 |
1.60 |
300 |
4.67 |
0.15 |
0.12 |
0.05 |
T1W1 |
SF |
ZKT0149 |
136.37 |
136.93 |
950 |
0.56 |
77 |
2.64 |
0.07 |
0.02 |
0.02 |
T23 |
SF |
ZKT0207 |
60.15 |
61.67 |
957 |
1.52 |
186 |
1.07 |
0.06 |
0.05 |
0.06 |
T1W2a1 |
SF |
ZKT0208 |
55.38 |
56.31 |
958 |
0.93 |
111 |
1.06 |
0.12 |
0.01 |
0.06 |
T26E |
SF |
ZKT0209 |
128.07 |
128.64 |
945 |
0.57 |
28 |
2.64 |
0.37 |
0.05 |
0.01 |
T28E1 |
SF |
ZKT0209 |
149.40 |
149.99 |
941 |
0.59 |
178 |
0.36 |
0.06 |
0.05 |
0.01 |
T28E2 |
SF |
ZKT0235 |
80.20 |
80.70 |
1,021 |
0.50 |
654 |
3.45 |
0.21 |
0.05 |
0.14 |
T2W2 |
SF |
ZKT0248 |
69.99 |
71.70 |
956 |
1.71 |
184 |
5.61 |
0.11 |
0.05 |
0.14 |
T26E |
SF |
ZKT0258 |
15.83 |
16.37 |
1,045 |
0.54 |
150 |
2.24 |
0.08 |
0.05 |
0.02 |
T1W2a |
SF |
ZKT0612 |
173.30 |
174.59 |
885 |
1.29 |
432 |
3.10 |
0.22 |
0.05 |
0.04 |
T16 |
SF |
ZKT0617 |
54.62 |
55.15 |
907 |
0.53 |
620 |
2.86 |
1.05 |
0.01 |
0.01 |
T16E2 |
SF |
ZKT0617 |
64.51 |
65.10 |
904 |
0.59 |
232 |
0.76 |
0.38 |
0.01 |
0.01 |
T16E3 |
SF |
ZKT0617 |
98.93 |
99.44 |
894 |
0.51 |
425 |
1.16 |
0.37 |
0.01 |
0.01 |
T16E1 |
SF |
ZKT0628 |
63.91 |
64.45 |
888 |
0.54 |
1,047 |
11.14 |
0.29 |
0.05 |
0.08 |
T11E4 |
SF |
ZKT0630 |
42.98 |
43.99 |
902 |
1.01 |
296 |
1.58 |
0.60 |
0.05 |
0.05 |
T31W3 |
SF |
ZKT0817 |
41.03 |
41.53 |
1,039 |
0.50 |
161 |
0.67 |
0.08 |
0.05 |
0.02 |
T3 |
SF |
ZKT0838 |
36.78 |
37.30 |
916 |
0.52 |
686 |
2.99 |
0.40 |
0.41 |
0.13 |
T15W1 |
SF |
ZKT0839 |
28.44 |
29.04 |
912 |
0.60 |
1,646 |
2.92 |
1.53 |
0.05 |
0.33 |
T14E |
SF |
ZKT0839 |
68.92 |
70.05 |
897 |
1.13 |
1,045 |
7.03 |
0.58 |
0.09 |
0.12 |
T16E2 |
SF |
ZKT1008 |
25.71 |
27.44 |
918 |
1.73 |
938 |
7.97 |
0.62 |
0.12 |
0.17 |
T14E |
SF |
ZKT1008 |
38.67 |
39.19 |
916 |
0.52 |
193 |
4.88 |
0.08 |
0.05 |
0.03 |
T15W1 |
SF |
ZKT1014 |
3.02 |
3.83 |
921 |
0.81 |
121 |
0.56 |
0.11 |
0.05 |
0.01 |
T15W |
SF |
ZKT1603 |
6.11 |
9.01 |
968 |
2.90 |
167 |
4.53 |
0.17 |
0.05 |
0.04 |
T2 |
SF |
ZKTDB0001 |
21.89 |
22.57 |
1,041 |
0.68 |
98 |
1.66 |
0.41 |
0.01 |
0.03 |
T23 |
SF |
ZKTDB0102 |
111.70 |
113.99 |
1,014 |
2.29 |
2,186 |
6.80 |
0.35 |
0.11 |
0.43 |
T1W2 |
SF |
ZKTDB0202 |
94.00 |
94.60 |
994 |
0.60 |
159 |
1.34 |
0.82 |
0.05 |
0.01 |
T1W2a |
SF |
ZKTDB0207 |
11.52 |
16.15 |
1,122 |
4.63 |
167 |
0.54 |
0.11 |
0.05 |
0.03 |
T1W2 |
SF |
ZKTDB0207 |
20.67 |
21.27 |
1,120 |
0.60 |
489 |
0.79 |
0.53 |
0.05 |
0.06 |
T26 |
SF |
ZKTDB0207 |
42.94 |
43.44 |
1,113 |
0.50 |
148 |
2.54 |
0.05 |
0.05 |
0.02 |
T1W1 |
SF |
ZKTDB0207 |
76.02 |
76.57 |
1,104 |
0.55 |
948 |
0.47 |
0.02 |
0.05 |
0.06 |
T28E |
SF |
ZKTDB0207 |
103.41 |
104.07 |
1,097 |
0.66 |
1,453 |
4.58 |
1.69 |
0.05 |
0.53 |
T1 |
SF |
ZKTDB0309 |
59.76 |
60.27 |
1,058 |
0.51 |
300 |
0.49 |
1.28 |
0.01 |
0.01 |
T23 |
SF |
ZKTDB0612 |
108.36 |
109.07 |
994 |
0.71 |
227 |
0.04 |
0.05 |
0.05 |
0.03 |
T16W |
SF |
ZKTDB0706 |
93.71 |
94.24 |
1,066 |
0.53 |
97 |
1.98 |
0.13 |
0.05 |
0.01 |
T14 |
SF |
ZKTDB1003 |
103.51 |
104.02 |
1,029 |
0.51 |
216 |
0.11 |
0.36 |
0.05 |
0.06 |
T16 |
SF |
ZKTDB1209 |
87.57 |
88.24 |
1,042 |
0.67 |
116 |
3.16 |
0.47 |
0.05 |
0.03 |
T16 |
SF |
ZKTDB1502 |
109.77 |
111.11 |
849 |
1.34 |
166 |
0.30 |
0.24 |
0.01 |
0.02 |
T16 |
SF |
Quality Control
Drill cores are NQ size. Drill core samples, limited
by apparent mineralization contacts or shear/alteration contacts, were split into halves by sawing. The half cores are stored in the Company's
core shacks for future reference and checks, and the other half core samples are shipped in securely sealed bags to the Chengde Huakan
514 Geology and Minerals Test and Research Institute in Chengde, Hebei Province, China, 226 km northeast of Beijing, the Zhengzhou Nonferrous
Exploration Institute Lab in Zhengzhou, Henan Province, China, and SGS in Tianjin, China. All three labs are ISO9000 certified analytical
labs. For analysis, the sample is dried and crushed to minus 1mm and then split into a 200-300 g subsample which is further pulverized
to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One is digested with aqua regia for gold analysis with atomic
absorption spectroscopy (AAS), and the other is digested by two-acid digestion for analysis of silver, lead, zinc and copper with AAS.
Channel samples are collected along sample lines perpendicular
to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5 m along strike. Both the mineralized
vein and the altered wall rocks are cut by continuous chisel chipping. Sample length ranges from 0.4 m to more than 1 m, depending on
the width of the mineralized vein and the mineralization type. Channel samples are prepared and assayed with AAS at Silvercorp's mine
laboratory (Ying Lab) located at the mill complex in Luoning County, Henan Province, China. The Ying lab is officially accredited by the
Quality and Technology Monitoring Bureau of Henan Province and is qualified to provide analytical services. The channel samples are dried,
crushed and pulverized. A 200 g sample of minus 160 mesh is prepared for assay. A duplicate sample of minus 1mm is made and kept in the
laboratory archives. Gold is analysed by fire assay with AAS finish, while silver, lead, zinc and copper are assayed by two-acid digestion
with AAS finish.
A routine quality assurance/quality control (QA/QC)
procedure is adopted to monitor the analytical quality at each lab. Certified reference materials (CRMs), pulp duplicates and blanks are
inserted into each batch of lab samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.
The Company maintains its own comprehensive QA/QC
program to ensure best practices in sample preparation and analysis of the exploration samples. Project geologists regularly insert CRM,
field duplicates and blanks to each batch of 30 core samples to monitor the sample preparation and analysis procedures at the labs. The
analytical quality of the labs is further evaluated with external checks by sending approximately 3-5% of the pulp samples to higher level
labs to check for lab bias. Data from both the Company's and the labs' QA/QC programs are reviewed on a timely basis by project
geologists.
Guoliang Ma, P. Geo., Manager of Exploration and Resource
of the Company, is the Qualified Person for Silvercorp under NI 43-101 and has reviewed and given consent to the technical information
contained in this news release.
About Silvercorp
Silvercorp is a Canadian mining company producing
silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder
value by 1) focusing on generating free cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3)
ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and sound Environmental, Social,
and Governance ("ESG") practices. For more information, please visit our website at www.silvercorpmetals.com.
For further information
Lon Shaver
President
Silvercorp Metals Inc.
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain of the statements and information in this
press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any
statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is
expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes",
"intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets",
"schedules", "potential" or variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
Forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral
resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's
operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining
District; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations;
and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's
properties.
Forward-looking statements or information are subject
to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those
reflected in the forward-looking statements or information, including, without limitation, social and economic impacts of COVID-19; risks
relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery;
interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and
engineering reports; permits and licenses; title to properties; property interests; joint venture partners; acquisition of commercially
mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount,
capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing
operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental
risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate
fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal
control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under
U.S. securities laws.
This list is not exhaustive of the factors that
may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about
the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially
from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including,
without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 under the heading "Risk
Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should
not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information
are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as
required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information
if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements
and information.
CAUTIONARY NOTE TO US INVESTORS
The disclosure in this news release and referred
to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange
Commission (the "SEC"). The terms "proven mineral reserve", "probable mineral reserve" and "mineral
reserves" used in this news release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy
and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly,
information contained in this news release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable
to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations
thereunder.
Investors are cautioned not to assume that any
part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "Inferred mineral resources"
are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence
and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An
inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted
to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated
mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis
of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an
inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted
disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute
"reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition
Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted
new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC
Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC
Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the
adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "Measured Mineral Resources", "Indicated Mineral
Resources" and "Inferred Mineral Resources". In addition, the SEC has amended its definitions of "Proven Mineral
Reserves" and "Probable Mineral Reserves" to be substantially similar to corresponding definitions under the CIM Definition
Standards. During the period leading up to the compliance date of the SEC Modernization Rules, information regarding mineral resources
or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report
according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM
Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.
Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves",
"probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards
adopted under the SEC Modernization Rules.
View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-reports-high-grade-silver-drill-results-at-the-tlp-mine-302047548.html
SOURCE Silvercorp Metals Inc
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2024/30/c3825.html
%CIK: 0001340677
CO: Silvercorp Metals Inc
CNW 07:30e 30-JAN-24
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