Trading Symbol
TSX: SVM
NYSE American: SVM
VANCOUVER, BC, Aug. 12, 2021 /CNW/ - Silvercorp Metals Inc.
("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is
pleased to report results from its exploration programs at the GC
silver-lead-zinc mine, Guangdong
Province, China. Extensive
drilling and tunneling are ongoing at the GC mine with
seven rigs currently drilling.
From October 1, 2019 to
June 30, 2021, 72,878 metres ("m")
from a total of 704 underground diamond drill holes were completed
at the GC mine, including 27,527 m
from 268 holes completed in the first six months of 2021.
Assay results for all the holes have been received, with 577 holes
intercepting mineralization.
The diamond drilling program at the GC mine targeted: (1) blocks
of known silver-lead-zinc veins in and above the production area;
and (2) exploration drilling at higher elevations in the north and
south sides of the resource areas.
Drilling Intersected Thick and High-Grade Veins In and Above
the Production Areas
Detailed drilling of blocks of known silver-lead-zinc veins in
and above the GC mine production areas intersected high-grade
veins. These mineralized occurrences were previously missed due to
limited drilling and tunneling, changes in the strikes and dips,
and/or pinch-swelling of the pay-zones in the veins.
The high-grade intercepts from this period are associated with
parallel silver-lead-zinc veins V2-2, V2-3, V2-4, V2-4E, V2-7, V2E,
V2E1, V2E6, V2W, V2W-4, V2W-9, V5-7, V5-9, V7, V7-1, V7-1E, V7-3,
V9-4, V9-5, V9W-2N, V9W-5, V10, V10-1, V10-20, NV10, V19, V19-8,
V25, V25-1, and V25-4. Other veins include V11, V16, and NV28.
There are 24 new vein structures discovered in and above the
production areas, including V2E4, V2E-4E, V2E-8, V7-2, V7-5, V7S,
V8-2, V8-5, V10-10, V10-11, C10-17, V10-1S, V10W, V18-2, V18-3,
V18-4, V19-2, V19-7, and V19-8. The Company is currently working on
a technical report on the GC mine to update the resources and
reserves as of December 31, 2020. It
is expected that mineralization in these structures can be
converted quickly into reserves and mined with existing underground
workings.
Highlights of high-grade intercepts at the GC mine production
area:
- Hole 20CK24A02 intersected a 6.13
m interval (6.01 m true width)
of vein V2E1 grading 258 grams per tonne ("g/t") silver ("Ag"),
7.05% lead ("Pb"), and 7.05% zinc ("Zn") at the -211 m elevation, which includes a 1.10 m interval (1.08
m true width) grading 462 g/t Ag, 25.57% Pb, and 5.21% Zn at
the -211 m elevation;
- Hole 20CK2609 intersected a 7.60
m interval (7.32 m true width)
of vein V2E1 grading 284 g/t Ag, 5.80% Pb, and 4.48% Zn at the
-229 m elevation, which includes a
1.18 m interval (1.14 m true width) grading 788 g/t Ag, 23.33% Pb,
and 7.54% Zn at the -229 m
elevation;
- Hole 20CK3025 intersected a 2.93 m interval (2.79
m true width) of vein NV28 grading 417 g/t Ag, 19.22% Pb,
and 1.72% Zn at the -11 m elevation,
which includes a 1.48 m interval
(1.34 m true width) grading 815 g/t
Ag, 37.47% Pb, and 2.12% Zn at the -11
m elevation;
- Hole 19CK11308 intersected a 2.11
m interval (1.88 m true width)
of vein V9W-5 grading 454 g/t Ag, 11.00% Pb, and 2.76% Zn at the
150 m elevation, which includes a
0.84 m interval (0.65 m true width) grading 1,066 g/t Ag, 25.31%
Pb, and 4.85% Zn at the 150 m
elevation;
- Hole 19CK10707 intersected a 2.59
m interval (2.07 m true width)
of vein V10-1 grading 345 g/t Ag, 1.36% Pb, and 14.87% Zn at the
156 m elevation, which includes a
1.59 m interval (1.27 m true width) grading 550 g/t Ag, 2.14% Pb,
and 23.45% Zn at the 156 m
elevation;
- Hole 20CK4608 intersected a 1.75
m interval (1.21 m true width)
of vein V33 grading 308 g/t Ag, 2.08% Pb, and 16.28% Zn at the
-4 m elevation; and
- Hole 20CK11805 intersected a 0.74
m interval (0.74 m true width)
of newly discovered vein V18-3 grading 557 g/t Ag, 1.21% Pb, and
14.82% Zn at the -11 m
elevation.
Drilling Intersected Newly-Discovered High-Grade Veins at
Higher Elevations to the North and South of the Existing Resource
Area
Exploratory underground drilling discovered high-grade Ag-Pb-Zn
veins V33-1, V33-2, V35, V52-2, V52-3, and V59 in the south and
veins NV2, NV3 and NV6 in the north of the existing resource area
at the GC mine. These discoveries confirm the potential to
expand the resource area outwards and extend the mine life at the
GC mine.
- Hole 21CK4235 intersected a 2.71 m interval (2.19
m true width) of newly discovered vein V52-2 grading 264 g/t
Ag, 0.25% Pb, and 17.02% Zn at the -3
m elevation;
- Hole 21CK4820 intersected a 2.16 m interval (1.30
m true width) of newly discovered vein V35 grading 539 g/t
Ag, 8.06% Pb, and 3.23% Zn at the 140
m elevation;
- Hole 20CK46A01 intersected a 0.87 m interval (0.46
m true width) of newly discovered vein V33-2 grading 994 g/t
Ag, 5.18% Pb, and 5.52% Zn at the 149
m elevation; and
- Hole 21CK42A35 intersected a 0.94
m interval (0.72 m true width)
of newly discovered vein V52-2, grading 78 g/t Ag, 0.08% Pb, and
25.07% Zn at the -1 m elevation.
Table 1: Selected intercepts from the 2019-2021 exploration
programs at the GC mine
Hole
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
interval
(m)
|
True Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Vein
|
New
Veins
|
19CK10706
|
0.19
|
1.00
|
157
|
0.81
|
0.65
|
186
|
0.62
|
9.70
|
V10-1
|
|
19CK10707
|
0.00
|
2.59
|
156
|
2.59
|
2.07
|
345
|
1.36
|
14.87
|
V10-1
|
|
incl.
|
1.00
|
2.59
|
156
|
1.59
|
1.27
|
550
|
2.14
|
23.45
|
V10-1
|
|
19CK10907
|
0.00
|
0.62
|
157
|
0.62
|
0.50
|
310
|
0.06
|
12.06
|
V10-1
|
|
19CK11308
|
54.45
|
56.56
|
150
|
2.11
|
1.88
|
454
|
11.00
|
2.76
|
V9W-5
|
|
incl.
|
55.13
|
55.97
|
150
|
0.84
|
0.65
|
1,066
|
25.31
|
4.85
|
V9W-5
|
|
19CK8802
|
92.28
|
92.70
|
31
|
0.42
|
0.34
|
103
|
6.59
|
21.43
|
V10-11
|
New
|
20CK10202
|
18.96
|
19.58
|
93
|
0.62
|
0.58
|
260
|
4.17
|
6.18
|
V19-4
|
|
20CK10215
|
40.05
|
40.70
|
78
|
0.65
|
0.47
|
750
|
20.94
|
4.35
|
V15
|
|
20CK10920
|
51.30
|
52.00
|
-170
|
0.70
|
0.69
|
40
|
3.88
|
9.98
|
V10-12
|
|
20CK11115
|
39.02
|
40.16
|
134
|
1.14
|
1.01
|
242
|
1.40
|
9.47
|
V10-1
|
|
20CK11207
|
41.11
|
42.60
|
-53
|
1.49
|
0.49
|
228
|
1.47
|
9.56
|
V10-1
|
|
20CK11311
|
34.97
|
35.50
|
153
|
0.53
|
0.62
|
172
|
0.04
|
13.52
|
V10-5
|
|
20CK11315
|
49.99
|
50.79
|
44
|
0.80
|
0.76
|
854
|
0.34
|
0.43
|
V25
|
|
20CK11315
|
69.98
|
77.50
|
41
|
7.52
|
4.20
|
364
|
2.17
|
4.59
|
V7-1
|
|
20CK11406
|
38.27
|
38.66
|
90
|
0.39
|
0.39
|
781
|
0.47
|
8.66
|
V9-9
|
|
20CK11503
|
102.21
|
103.18
|
91
|
0.97
|
0.97
|
516
|
3.22
|
0.27
|
V33-1
|
New
|
20CK11505
|
23.39
|
24.37
|
98
|
0.98
|
0.98
|
359
|
1.72
|
10.72
|
V9W-2
|
|
20CK11603
|
105.56
|
110.40
|
-53
|
4.84
|
2.78
|
115
|
0.89
|
11.67
|
V33
|
|
incl.
|
107.60
|
108.91
|
-53
|
1.31
|
0.75
|
233
|
0.13
|
28.71
|
V33
|
|
20CK11620
|
12.14
|
12.65
|
43
|
0.51
|
0.45
|
1,587
|
0.93
|
1.74
|
V39
|
|
20CK11704
|
111.21
|
111.75
|
24
|
0.54
|
0.44
|
499
|
3.64
|
6.34
|
V18-3
|
New
|
20CK11716
|
112.02
|
112.52
|
-158
|
0.50
|
0.50
|
144
|
5.10
|
7.31
|
V5-2
|
|
20CK11716
|
134.84
|
137.91
|
-171
|
3.07
|
2.41
|
72
|
3.22
|
6.58
|
V9-4
|
|
20CK11805
|
104.30
|
105.04
|
-11
|
0.74
|
0.74
|
557
|
1.21
|
14.82
|
V18-3
|
New
|
20CK11808
|
104.05
|
104.61
|
24
|
0.56
|
0.38
|
533
|
2.98
|
7.51
|
V18-4
|
New
|
20CK11810
|
50.52
|
51.41
|
3
|
0.89
|
0.66
|
134
|
3.20
|
11.59
|
V33
|
|
20CK2407
|
36.34
|
37.06
|
41
|
0.72
|
0.49
|
423
|
17.20
|
6.79
|
V2E1
|
|
20CK24A02
|
53.41
|
59.54
|
-211
|
6.13
|
6.01
|
258
|
7.05
|
7.05
|
V2E1
|
|
incl.
|
53.79
|
54.89
|
-211
|
1.10
|
1.08
|
462
|
25.57
|
5.21
|
V2E1
|
|
20CK24A03
|
51.03
|
57.44
|
-231
|
6.41
|
6.14
|
139
|
1.99
|
3.98
|
V2E1
|
|
20CK24A15
|
44.06
|
45.39
|
39
|
1.33
|
1.00
|
177
|
0.85
|
9.16
|
V9-5
|
|
20CK24A16
|
45.55
|
46.92
|
25
|
1.37
|
1.06
|
258
|
0.31
|
12.80
|
V9-5
|
|
20CK2608
|
55.31
|
61.79
|
-211
|
6.48
|
6.05
|
134
|
3.81
|
4.02
|
V2E1
|
|
20CK2609
|
54.30
|
61.90
|
-229
|
7.60
|
7.32
|
284
|
5.80
|
4.48
|
V2E1
|
|
incl.
|
57.73
|
58.91
|
-229
|
1.18
|
1.14
|
788
|
23.33
|
7.54
|
V2E1
|
|
20CK2624
|
6.91
|
13.12
|
-251
|
6.21
|
3.53
|
157
|
3.51
|
4.80
|
V2-4
|
|
20CK2625
|
28.24
|
33.13
|
-267
|
4.89
|
2.53
|
159
|
2.04
|
6.35
|
V2-4
|
|
20CK2818
|
76.71
|
77.78
|
-214
|
1.07
|
0.91
|
159
|
9.34
|
5.22
|
V9-5
|
|
20CK3025
|
38.96
|
41.89
|
-11
|
2.93
|
2.79
|
417
|
19.22
|
1.72
|
NV28
|
|
incl.
|
38.96
|
40.44
|
-11
|
1.48
|
1.34
|
815
|
37.47
|
2.12
|
NV28
|
|
20CK3027
|
39.64
|
41.02
|
-32
|
1.38
|
1.19
|
500
|
19.31
|
7.88
|
NV28
|
|
20CK30A16
|
29.39
|
30.46
|
-129
|
1.07
|
0.59
|
63
|
0.51
|
16.09
|
V18
|
|
20CK34A07
|
50.96
|
52.52
|
-55
|
1.56
|
1.02
|
182
|
5.12
|
7.05
|
V2E
|
|
20CK34A11
|
143.21
|
147.54
|
-225
|
4.33
|
3.97
|
148
|
3.52
|
6.51
|
V2E
|
|
20CK34A15
|
70.96
|
72.17
|
-211
|
1.21
|
1.19
|
183
|
4.15
|
7.00
|
V2E
|
|
20CK3616
|
94.06
|
95.40
|
-23
|
1.34
|
1.30
|
144
|
6.30
|
8.56
|
V2E
|
|
20CK3619
|
70.53
|
75.45
|
-234
|
4.92
|
4.17
|
147
|
1.24
|
4.45
|
V2E
|
|
20CK3620
|
0.00
|
5.01
|
3
|
5.01
|
2.62
|
339
|
1.34
|
2.41
|
V18-3
|
New
|
20CK3819
|
108.75
|
113.74
|
-183
|
4.99
|
3.03
|
180
|
0.82
|
3.84
|
V2E
|
|
20CK4012
|
19.60
|
22.50
|
-2
|
2.90
|
2.77
|
222
|
2.51
|
2.15
|
V9W-2N
|
|
20CK40A10
|
16.92
|
18.45
|
-42
|
1.53
|
0.78
|
451
|
4.20
|
1.18
|
V32
|
|
20CK40A12
|
86.11
|
86.65
|
45
|
0.54
|
0.53
|
402
|
7.07
|
2.86
|
V37
|
|
20CK4608
|
49.62
|
51.37
|
-4
|
1.75
|
1.21
|
308
|
2.08
|
16.28
|
V33
|
|
20CK46A01
|
57.56
|
58.43
|
149
|
0.87
|
0.46
|
994
|
5.18
|
5.52
|
V33-2
|
New
|
20CK46A01
|
72.76
|
73.50
|
146
|
0.74
|
0.56
|
447
|
2.04
|
5.28
|
V33-1
|
New
|
20CK4802
|
135.29
|
135.76
|
39
|
0.47
|
0.46
|
115
|
0.54
|
18.05
|
NV6
|
New
|
20CK601
|
41.85
|
42.45
|
38
|
0.60
|
0.60
|
1,428
|
0.70
|
0.45
|
V40S
|
|
20CK9601
|
80.80
|
81.30
|
-107
|
0.50
|
0.48
|
187
|
17.60
|
4.76
|
V11
|
|
21CK10536
|
34.79
|
35.98
|
90
|
1.19
|
0.72
|
188
|
3.67
|
7.50
|
V28
|
|
21CK11103
|
86.88
|
89.20
|
145
|
2.32
|
1.95
|
172
|
2.15
|
7.89
|
V16
|
|
21CK11131
|
69.02
|
74.54
|
-184
|
5.52
|
5.05
|
94
|
3.96
|
3.54
|
V10
|
|
21CK11305
|
83.99
|
86.46
|
-181
|
2.47
|
1.92
|
206
|
4.88
|
11.86
|
V5-9
|
|
21CK11616
|
78.87
|
82.33
|
-164
|
3.46
|
2.76
|
134
|
3.84
|
2.62
|
V5-9
|
|
21CK1608
|
20.80
|
21.36
|
46
|
0.56
|
0.48
|
779
|
1.10
|
0.66
|
V9-3
|
|
21CK16A09
|
152.52
|
154.27
|
108
|
1.75
|
1.66
|
742
|
1.90
|
1.63
|
V7-1
|
|
21CK16A16
|
4.16
|
5.38
|
101
|
1.22
|
1.20
|
633
|
0.97
|
1.62
|
V25-1
|
|
21CK16A16
|
10.80
|
11.43
|
99
|
0.63
|
0.63
|
634
|
10.32
|
11.68
|
V25
|
|
21CK1810
|
22.46
|
25.70
|
40
|
3.24
|
2.63
|
388
|
1.29
|
3.71
|
V7-1
|
|
21CK18A09
|
50.36
|
51.93
|
120
|
1.57
|
1.21
|
948
|
1.51
|
0.88
|
V25-1
|
|
21CK2207
|
66.60
|
73.36
|
-278
|
6.76
|
5.73
|
130
|
4.65
|
3.93
|
V2W
|
|
21CK2207
|
85.22
|
88.70
|
-268
|
3.48
|
2.90
|
100
|
5.08
|
4.80
|
V2W-9
|
|
21CK2208
|
66.60
|
68.09
|
-278
|
1.49
|
1.26
|
384
|
13.05
|
7.47
|
V2W
|
|
21CK2241
|
23.82
|
25.20
|
-24
|
1.38
|
1.21
|
348
|
6.59
|
4.87
|
V2E
|
|
21CK2242
|
4.44
|
6.63
|
-4
|
2.19
|
0.49
|
255
|
7.82
|
6.02
|
V26
|
|
21CK2460
|
32.38
|
33.04
|
34
|
0.66
|
0.56
|
160
|
0.15
|
13.10
|
V9-4
|
|
21CK2461
|
39.36
|
40.03
|
34
|
0.67
|
0.59
|
463
|
0.45
|
15.24
|
V9-5
|
|
21CK24A09
|
19.74
|
23.30
|
-255
|
3.56
|
2.78
|
258
|
3.07
|
6.63
|
V2-4
|
|
21CK2638
|
17.00
|
24.11
|
-253
|
7.11
|
5.82
|
139
|
1.89
|
5.06
|
V2-4
|
|
21CK2638
|
133.04
|
144.31
|
-274
|
11.27
|
11.13
|
86
|
2.35
|
4.58
|
V2W
|
|
21CK2641
|
91.61
|
96.86
|
-14
|
5.25
|
5.02
|
152
|
0.19
|
6.51
|
V2E
|
|
21CK26A23
|
52.67
|
59.00
|
-276
|
6.33
|
6.16
|
121
|
3.68
|
5.66
|
V2-2
|
|
21CK26A24
|
19.72
|
25.63
|
-270
|
5.91
|
5.10
|
116
|
2.14
|
4.09
|
V2E1
|
|
21CK26A42
|
80.70
|
82.33
|
-12
|
1.63
|
1.55
|
152
|
4.92
|
10.12
|
V2E
|
|
21CK26A50
|
31.01
|
31.38
|
73
|
0.37
|
0.31
|
356
|
0.00
|
28.12
|
V5-7
|
|
21CK26A50
|
36.93
|
37.44
|
68
|
0.51
|
0.51
|
244
|
0.04
|
11.81
|
V5-9
|
|
21CK26A53
|
24.77
|
26.60
|
77
|
1.83
|
1.65
|
127
|
0.02
|
11.99
|
V5-7
|
|
21CK26A54
|
44.25
|
45.09
|
57
|
0.84
|
0.57
|
225
|
0.08
|
13.75
|
V5-7
|
|
21CK2821
|
25.73
|
35.87
|
-272
|
10.14
|
9.30
|
203
|
2.93
|
4.81
|
V2-4E
|
|
21CK2821
|
127.72
|
130.67
|
-339
|
2.95
|
2.58
|
202
|
0.28
|
9.97
|
V25-4
|
|
21CK2822
|
23.74
|
38.47
|
-275
|
14.73
|
12.89
|
127
|
2.06
|
4.03
|
V2-4E
|
|
21CK2823
|
17.78
|
22.91
|
-271
|
5.13
|
4.39
|
176
|
2.78
|
3.80
|
V2-4
|
|
21CK2824
|
26.38
|
41.65
|
-266
|
15.27
|
13.49
|
104
|
2.06
|
4.28
|
V2-4E
|
|
21CK3212
|
21.03
|
21.55
|
97
|
0.52
|
0.51
|
166
|
5.63
|
6.37
|
V7
|
|
21CK32A10
|
113.17
|
114.04
|
-140
|
0.87
|
0.76
|
81
|
6.30
|
5.25
|
V5-9
|
|
21CK32A32
|
138.29
|
139.47
|
-145
|
1.18
|
0.85
|
244
|
0.28
|
25.52
|
V5-20
|
|
21CK32A42
|
85.50
|
86.10
|
-131
|
0.60
|
0.57
|
114
|
0.04
|
17.16
|
V5-5
|
|
21CK3422
|
106.60
|
107.21
|
79
|
0.61
|
0.59
|
210
|
0.07
|
18.06
|
V2-3
|
|
21CK34A12
|
30.42
|
31.01
|
34
|
0.59
|
0.59
|
316
|
1.27
|
13.00
|
V7
|
|
21CK4235
|
64.69
|
67.40
|
-3
|
2.71
|
2.19
|
264
|
0.25
|
17.02
|
V52-2
|
New
|
21CK42A35
|
47.15
|
48.09
|
-1
|
0.94
|
0.72
|
78
|
0.08
|
25.07
|
V52-2
|
New
|
21CK4820
|
47.55
|
49.71
|
140
|
2.16
|
1.30
|
539
|
8.06
|
3.23
|
V35
|
New
|
21CK5005
|
55.30
|
55.70
|
45
|
0.40
|
0.40
|
1,344
|
0.54
|
0.46
|
V14
|
|
Tunneling Programs at the GC Mine
In addition to the drilling program, 16,070 m of exploration drift tunneling were
developed at the GC mine during this period. The exploration
tunneling, comprised of drifting, cross-cutting and raising, was
driven along and across major mineralized vein structures to
upgrade the drill-defined mineral resources and test for new
parallel and splay structures. The results of the exploration
tunneling are summarized in the following table.
Major Target
Veins
|
Elevation
(m)
|
Total
Tunneling
(m)
|
Channel
Samples
Collected
|
Drift
Included
(m)
|
Total
Mineralization Exposed by Drifts
[1]
|
Length
(m)
|
True
Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
V1, VH1, V2-1, V2-2,
V2E, V2E1, V2E-4E, V2W, V2W-4, V2W-9, V5, V5-9, V5-12, V6E, V6E-3,
V6M, V7-1E, V7-2N, V7-5, V9-2, V10, V10-1, V10W, SV10, V13, V14,
V16, V17, V17-1, V18, V19, V19-6, V32,V33, V37, V40, V46, V49, V52,
V59
|
(-300)-150
|
19,786
|
7,531
|
16,070
|
7,482
|
0.84
|
148
|
2.14
|
5.61
|
[1] Mineralization is
defined by silver equivalent value (AgEq) greater than or equal to
105 g/t at the GC mine.
|
(Formula used
for AgEq calculation: AgEq = Ag g/t + 50.46 * Pb% + 43.53 *
Zn%)
|
Highlights of selected mineralized zones exposed in the drift
tunnels:
- Drift Tunnel V5-9-(-50)-30NEYM exposed mineralization
60 m long and 1.09 m wide (true width) grading 357 g/t Ag,
4.72% Pb, and 10.08% Zn within vein V5-9 at the -50 m elevation;
- Drift Tunnel V19-(-75)-42WYM exposed mineralization
28 m long and 0.91 m wide (true width) grading 234 g/t Ag,
13.56% Pb, and 6.42% Zn within vein V19 at the -100 m elevation;
- Drift Tunnel V19-(-50)-48ANEYM exposed mineralization
65 m long and 1.20 m wide (true width) grading 161 g/t Ag,
2.28% Pb, and 12.18% Zn within vein V19 at the -50 m elevation;
- Drift Tunnel V52-150-119NEYM exposed mineralization
50 m long and 0.86 m wide (true width) grading 454 g/t Ag,
3.88% Pb, and 7.39% Zn within vein V52 at the 150 m elevation; and
- Drift Tunnel V10-1-150-38ANEYM exposed mineralization
135 m long and 0.60 m wide (true width) grading 288 g/t Ag,
0.77% Pb, and 12.61% Zn within vein V10-1 at the 150 m elevation.
Table 2: Selected mineralized zones exposed by drift
tunneling at the GC mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
Ore Length
(m)
|
True Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
V1-(-150)-32ASYM
|
V1
|
-150
|
67.0
|
0.54
|
53
|
3.90
|
3.95
|
V1-2-(-150)-20WYM
|
V1-2
|
-150
|
10.0
|
0.47
|
272
|
7.83
|
3.50
|
V2-1-(-250)-26AEYM
|
V2-1
|
-250
|
25.0
|
0.74
|
117
|
3.15
|
3.21
|
V2-2-(-200)-30EYM
|
V2-2
|
-200
|
31.0
|
0.83
|
104
|
0.49
|
2.85
|
V2E-(-250)-26ASEYM
|
V2E
|
-250
|
88.0
|
1.22
|
50
|
0.76
|
3.69
|
V2E1-(-250)-24AEYM
|
V2E1
|
-250
|
33.0
|
1.86
|
81
|
0.76
|
2.90
|
V2E1-(-300)-26AEYM
|
V2E1
|
-300
|
11.0
|
2.24
|
109
|
1.50
|
5.98
|
V2E-4E-(-50)-44ANEYM
|
V2E-4E
|
-50
|
48.0
|
0.46
|
104
|
2.36
|
6.95
|
V2E-4E-(-100)-46AWYM
|
V2E-4E
|
-100
|
39.0
|
0.60
|
79
|
1.87
|
6.68
|
V2E-4E-(-100)-46AEYM
|
V2E-4E
|
-100
|
15.0
|
0.55
|
40
|
0.53
|
6.71
|
V2W-(-200)-22SWYM
|
V2W
|
-200
|
91.0
|
1.78
|
102
|
2.84
|
4.61
|
V2W-(-200)-22NEYM
|
V2W
|
-200
|
94.0
|
2.07
|
90
|
2.47
|
4.11
|
V2W_YM
|
V2W
|
-200
|
28.0
|
1.10
|
98
|
2.83
|
3.55
|
V2W-(-250)-24NEYM
|
V2W
|
-250
|
54.0
|
2.48
|
137
|
2.58
|
3.55
|
V2W-(-250)-24SWYM
|
V2W
|
-250
|
28.0
|
1.75
|
62
|
1.84
|
3.26
|
V2W-4-(-200)-22AWYM
|
V2W-4
|
-200
|
16.0
|
0.90
|
247
|
7.88
|
5.80
|
V2W-9-(-200)-22WYM
|
V2W-9
|
-200
|
31.0
|
0.76
|
114
|
3.41
|
4.04
|
V5-50-30AEYM
|
V5
|
50
|
25.0
|
0.89
|
274
|
0.17
|
10.13
|
V5-9-(-50)-30NEYM
|
V5-9
|
-50
|
60.0
|
1.09
|
357
|
4.72
|
10.08
|
V5-9-(-200)-36NYM
|
V5-9
|
-200
|
50.0
|
1.18
|
107
|
2.02
|
3.72
|
V6E3-0-32EYM
|
V6E3
|
0
|
50.0
|
0.42
|
142
|
12.08
|
10.16
|
V6M-2-(-150)-18SEYM
|
V6M-3
|
-150
|
80.0
|
0.61
|
65
|
3.59
|
3.19
|
V7-3-100-30WYM
|
V7-3
|
100
|
27.0
|
0.30
|
102
|
0.03
|
14.94
|
V9-5-100-28AEYM
|
V9-5
|
100
|
50.0
|
0.37
|
186
|
0.35
|
11.68
|
V9-5-(-100)-32WYM
|
V9-5
|
-100
|
15.0
|
1.15
|
83
|
2.37
|
3.07
|
V9-5-(-250)-24EYM
|
V9-5
|
-250
|
87.0
|
0.87
|
68
|
2.06
|
3.12
|
SV10-(-150)-42NEYM
|
SV10
|
-150
|
19.0
|
1.53
|
109
|
2.04
|
3.91
|
SV10-(-150)-42SWYM
|
SV10
|
-150
|
22.0
|
1.53
|
109
|
2.04
|
3.91
|
V10-(-100)-46EYM
|
V10
|
-100
|
178.0
|
0.95
|
60
|
2.12
|
3.44
|
V10-(-150)-40NEYM
|
V10
|
-150
|
40.0
|
1.28
|
98
|
2.92
|
3.43
|
V10-(-150)-44NEYM
|
V10
|
-150
|
196.0
|
1.25
|
71
|
1.79
|
4.19
|
V10-(-150)-40SWYM
|
V10
|
-150
|
46.0
|
1.50
|
28
|
0.53
|
4.69
|
V10-(-130)-107SWYM
|
V10
|
-150
|
10.0
|
0.71
|
44
|
1.42
|
3.15
|
V10-(-150)-44SWYM
|
V10
|
-150
|
34.0
|
1.39
|
39
|
1.47
|
2.73
|
V10-1-135-40SWYM
|
V10-1
|
150
|
37.0
|
0.71
|
203
|
0.86
|
15.03
|
V10-1-150-38ANEYM
|
V10-1
|
150
|
135.0
|
0.60
|
288
|
0.77
|
12.61
|
V10-1-(-50)-40SWYM
|
V10-1
|
-50
|
20.0
|
0.78
|
143
|
0.37
|
3.77
|
V10-1-(-100)-42ASWYM
|
V10-1
|
-100
|
43.0
|
1.15
|
199
|
0.74
|
3.53
|
V10-1-(-150)-44SWYM
|
V10-1
|
-150
|
25.0
|
0.84
|
116
|
0.74
|
5.16
|
V10W-(-150)-40WYM
|
V10W
|
-150
|
15.0
|
1.54
|
198
|
2.05
|
3.62
|
V14-50-46SWYM
|
V13
|
50
|
131.0
|
0.71
|
92
|
0.79
|
9.35
|
V14-(-50)-116SWYM
|
V13
|
-50
|
20.0
|
0.95
|
148
|
1.16
|
13.57
|
V14-(-100)-50NEYM
|
V14
|
-100
|
67.0
|
0.90
|
55
|
2.20
|
2.08
|
V16-150-30AEYM
|
V16
|
150
|
9.0
|
0.69
|
808
|
1.84
|
1.99
|
V16-135-32EYM
|
V16
|
150
|
53.0
|
0.66
|
456
|
1.48
|
4.50
|
V16-135-32WYM
|
V16
|
150
|
131.0
|
0.39
|
358
|
1.43
|
4.15
|
V16-150-32EYM
|
V16
|
150
|
40.0
|
0.61
|
105
|
0.67
|
5.49
|
V16-150-34AEYM
|
V16
|
150
|
35.0
|
0.53
|
133
|
1.50
|
2.51
|
V16-110-34EYM
|
V16
|
100
|
80.0
|
0.66
|
136
|
0.66
|
6.12
|
V17-(-100)-34AEYM
|
V16
|
-100
|
6.0
|
0.52
|
1260
|
4.27
|
2.10
|
V17-0-34WYM
|
V17
|
0
|
39.0
|
0.32
|
273
|
0.34
|
22.88
|
V17-0-34EYM
|
V17
|
0
|
69.0
|
0.36
|
517
|
0.71
|
12.46
|
V17-(-50)-34EYM
|
V17
|
-50
|
40.0
|
0.58
|
126
|
0.93
|
3.80
|
V17-(-100)-30AEYM
|
V17
|
-100
|
35.0
|
0.83
|
57
|
1.70
|
2.70
|
V17-1-0-34WYM
|
V17-1
|
0
|
19.0
|
1.75
|
596
|
1.37
|
2.91
|
V17-1-0-34EYM
|
V17-1
|
0
|
27.5
|
0.41
|
304
|
0.88
|
4.67
|
V17-1-(-45)-34EYM
|
V17-1
|
-50
|
33.0
|
0.56
|
84
|
1.03
|
4.66
|
V17-1-(-45)-34WYM
|
V17-1
|
-50
|
25.0
|
0.58
|
70
|
0.25
|
3.17
|
V18-150-28AEYM
|
V18
|
150
|
22.0
|
0.54
|
273
|
0.87
|
1.98
|
V8-(-50)-30AEYM
|
V18
|
-50
|
72.0
|
1.11
|
315
|
2.16
|
2.90
|
V18-(-100)-30AEYM
|
V18
|
-100
|
46.0
|
1.37
|
163
|
3.16
|
8.10
|
V18-(-100)-30AWYM
|
V18
|
-100
|
11.0
|
1.29
|
92
|
2.28
|
6.87
|
V19-(-50)-48ANEYM
|
V19
|
-50
|
65.0
|
1.20
|
161
|
2.28
|
12.18
|
V19-(-75)-42WYM
|
V19
|
-100
|
28.0
|
0.91
|
234
|
13.56
|
6.42
|
V19-(-75)-42EYM
|
V19
|
-100
|
31.0
|
1.04
|
70
|
5.89
|
4.17
|
V19-(-100)-46EYM
|
V19
|
-100
|
99.0
|
0.77
|
101
|
0.66
|
7.64
|
V19-(-150)-40WYM
|
V19
|
-150
|
14.0
|
1.64
|
151
|
1.34
|
3.72
|
V19-(-150)-40EYM
|
V19
|
-150
|
70.0
|
0.91
|
81
|
1.42
|
3.81
|
V19-(-150)-44EYM
|
V19
|
-150
|
15.0
|
0.72
|
64
|
2.04
|
2.92
|
V19-6-100-40WYM
|
V19-6
|
100
|
22.0
|
1.21
|
99
|
2.20
|
2.04
|
V25-(-200)-105NEYM
|
V25
|
-200
|
15.0
|
1.87
|
77
|
0.96
|
3.30
|
V32-0-50ANEYM
|
V32
|
0
|
73.0
|
0.40
|
635
|
4.57
|
3.54
|
V32-20-50NEYM
|
V32
|
0
|
18.0
|
0.44
|
132
|
3.10
|
6.18
|
V32-20-50SWYM
|
V32
|
0
|
38.0
|
0.44
|
132
|
3.10
|
6.18
|
V32-0-50ASWYM
|
V32
|
0
|
10.0
|
0.59
|
87
|
2.25
|
2.19
|
V33-0-52SWYM
|
V33
|
0
|
60.0
|
0.92
|
201
|
5.77
|
5.15
|
V33-0-52YM
|
V33
|
0
|
76.0
|
0.98
|
163
|
3.23
|
4.19
|
V37-50-44ANEYM
|
V37
|
50
|
27.0
|
0.74
|
86
|
6.79
|
7.70
|
V40-(-85)-12WYM
|
V40
|
-100
|
9.0
|
0.99
|
257
|
5.75
|
6.34
|
V52-150-38WYM
|
V52
|
150
|
11.5
|
0.45
|
307
|
0.93
|
20.84
|
V52-150-119NEYM
|
V52
|
150
|
50.0
|
0.86
|
454
|
3.88
|
7.39
|
V19-2-150-40ASEYM
|
V59
|
150
|
22.0
|
0.50
|
226
|
4.22
|
3.65
|
VH1-0-32NEYM
|
VH1
|
0
|
16.0
|
1.06
|
40
|
3.50
|
5.16
|
Quality Control
Drill cores are NQ size. Drill core samples, limited by apparent
mineralization contacts or shear/alteration contacts, were split
into halves by saw cutting. 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
on-site laboratory (Laboratory of Guangdong Found).
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 0.2 m to more than
1 m, depending on the width of the
mineralized vein and the mineralization type. Channel samples
are shipped in securely sealed bags to the on-site
laboratory.
For analysis, the sample is dried and crushed to
minus 1 mm and then split to 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 two-acids for analysis
of silver, lead, zinc and copper with atomic absorption
spectroscopy (AAS), and the other is retained as pulp reject at the
lab for future reference.
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 CRMs,
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 profitable Canadian mining company producing
silver, lead and zinc metals in concentrates from mines in
China. The Company's goal is to
continuously create healthy returns to shareholders through
efficient management, organic growth and the acquisition of
profitable projects. Silvercorp balances profitability, social and
environmental relationships, employees' wellbeing, and sustainable
development. For more information, please visit our website
at www.silvercorp.ca.
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, risks relating to: social and
economic impacts of COVID-19; 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;
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.
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SOURCE Silvercorp Metals Inc