TSX: SVM
NYSE American: SVM
VANCOUVER, BC, Oct. 14, 2021 /CNW/ - Silvercorp Metals Inc.
("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is
pleased to report thick and high-grade intercepts from its 2021
exploration program at the LMW mine. Extensive exploration drilling
and tunneling are ongoing at the LMW mine, and all other mines in
the Ying Mining District, Henan
Province, China.
From May 1 to September 30, 2021,
23,908 metres ("m") from a total of 166 diamond drill holes,
including 152 underground holes and 14 surface holes, were
completed at the LMW mine. Assay results for 102 holes have been
received, with 70 holes intercepting mineralization. Currently
there are 12 rigs drilling at the LMW mine.
The strategy of the drilling program is threefold: 1) drill
above or beneath the stopes that were previously mined but stopped
due to poor understanding of the geology, such as veins LM7 and
LM7W where much thicker pods have been discovered by infill
drilling; 2) drill for high-grade silver-lead-zinc veins at the
northwest and east sides of the resource area with previous limited
drilling without follow up such as W1, W2, W6, and LM41E series
veins where high grade intercepts were discovered and can quickly
be mined; and 3) drill low angle gold veins such as LM50,
copper-gold-silver veins such as LM26, and gold-silver-copper veins
such as LM22.
Drilling Intersected High-Grade Silver-Lead-Zinc Veins at the
Northwest and East Sides of the Resource Area
At the northwest side of the resource area, drilling intersected
high-grade silver-lead-zinc veins W1, W2, W6, and W6E1 with true
widths up to 4.67 m, at an elevation
above 850 m. The drilling program
discovered new splay and parallel veins, including W1E, W2E, W2W,
W6W, and W18E. Vein W1 has been defined approximately 200 m along strike and 100
m down-dip, and is still open laterally along strike and at
depth.
At the east side of the resource area, between the LMW mine and
the LME mine, drilling intersected high-grade silver-lead-zinc vein
LM41E, at an elevation above 760 m.
Drilling also intersected additional splay and parallel
silver-lead-zinc veins LM41E1 and LM41E1Wa, which are also
high-grade vein structures with true widths up to 7.03 m.
Drill Above or Beneath the Stopes That Were Previously
Mined
Most holes in this period targeted blocks of known
silver-lead-zinc veins in the production areas that were previously
missed due to limited drilling or tunneling, changes in the strikes
and dips, and/or pinch-swelling of the pay-zones in the veins. The
high-grade intercepts are mainly associated with the
northeast-striking LM7 series and LM12 series, and the
northwest-striking LM8 series and LM19 series. Drilling discovered
additional splay and parallel vein structures LM12_2a and T1, the
latter may be a southwest extension of the major vein structure T1
at the TLP mine to the northeast of the LMW mine.
Highlights of the high-grade silver-lead-zinc mineralization at
the LMW mine:
- Hole ZKX05X023 intersected an 8.87 m interval (7.60
m true width) of vein LM7W grading 705 grams per tonne
("g/t") silver ("Ag"), 1.51% lead ("Pb"), 0.08% zinc ("Zn"), 0.06
g/t gold ("Au"), and 0.05% copper ("Cu") from 24.73 m depth, at an elevation of 790 m;
- Hole ZKX1137 intersected a 5.16
m interval (4.80 m true width)
of vein LM41E1 grading 984 g/t Ag, 1.19% Pb, 0.29% Zn, 0.08 g/t Au,
and 1.15% Cu from 46.4 m depth, at an
elevation of 793 m;
- Hole ZKX0451 intersected a 3.11
m interval (1.72 m true width)
of vein W1 grading 1,468 g/t Ag, 4.90% Pb, 0.97% Zn, 0.03 g/t Au,
and 0.35% Cu from 137.88 m depth, at
an elevation of 981 m;
- Hole ZKX05X037 intersected a 5.40
m interval (5.06 m true width)
of vein LM8W grading 703 g/t Ag, 1.52% Pb, 0.14% Zn, 0.08 g/t Au,
and 0.42% Cu from 24.97 m depth, at
an elevation of 795 m;
- Hole ZKX0789 intersected a 2.96 m interval (2.21
m true width) of vein LM7W grading 1,646 g/t Ag, 2.42% Pb,
0.27% Zn, 0.45 g/t Au, and 0.17% Cu from 15.96 m depth, at an elevation of 786 m;
- Drift Tunnel PD918-W1-918-4SYM exposed mineralization
15 m long and 0.85 m wide (true width), grading 1,561 g/t Ag,
4.31% Pb, 0.62% Zn, 0.02 g/t Au, and 0.45% Cu of vein W1 at an
elevation of 918 m (Table 3);
and
- Drift Tunnel PD918-W1-918-4NYM exposed mineralization
30 m long and 0.61 m wide (true width), grading 1,222 g/t Ag,
3.74% Pb, 0.98% Zn, 0.15 g/t Au, and 0.34% Cu of vein W1 at an
elevation of 918 m (Table 3).
Drill Low Angle Gold or Copper-Gold-Silver Veins
The drilling continued intersecting and extending the low angle
gold vein LM50. An additional 17 holes in this period targeted LM50
and defined a block 800 m E-W by
500 m N-S, with hole density at the
central 300 m by 300 m portion being approximately 25 m by 25 m.
Another 15 holes targeted the low angle gold vein structure LM26.
The assay results of 13 holes were returned with 10 holes
intersecting gold mineralization.
Highlights of the intercepts from the low angle gold veins at
the LMW mine:
- Hole ZKX0796 intersected a 3.47 m interval (2.74
m true width) of vein LM50 grading 11.82 g/t Au, 27 g/t Ag,
0.29% Pb, 0.22% Zn, and 0.01% Cu from 37.23
m depth, at an elevation of 786
m;
- Hole ZKX0788 intersected a 2.47 m interval (1.99
m true width) of vein LM50 grading 1.26 g/t Au, 1,193 g/t
Ag, 0.40% Pb, 0.04% Zn, and 0.16% Cu from 14.46 m depth, at an elevation of 789 m;
- Hole ZKX0787 intersected a 1.51 m interval (1.27
m true width) of vein LM26 grading 5.86 g/t Au, 2 g/t Ag,
0.01% Pb, 0.02% Zn, and 0.01% Cu from 80.04
m depth, at an elevation of 749
m;
- Hole ZKX0153 intersected a 2.12 m interval (1.23
m true width) of vein LM26 grading 4.62 g/t Au, 19 g/t Ag,
and 0.75% Cu from 63.11 m depth, at
an elevation of 646 m;
- Hole ZKX0172 intersected a 1.19 m interval (1.01
m true width) of vein LM26 grading 2.81 g/t Au, 132 g/t Ag,
and 4.05% Cu from 60.95 m depth, at
an elevation of 643 m;
- Drift Tunnel PD924-LM22-834-5YMSS exposed mineralization
20 m long and 0.38 m thick (true thickness), grading 97 g/t Ag,
26.89 g/t Au and 12.93% Cu of vein LM22 at an elevation of
834 m (Table 3); and
- Drift Tunnel PD924-LM22-834-5YMSD exposed mineralization
10 m long and 0.39 m thick (true thickness), grading 54 g/t Ag,
38.95 g/t Au and 5.63% Cu of vein LM22 at an elevation of
834 m (Table 3).
Table 1: Selected intercepts from the drilling program at the
LMW mine
Hold
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
Interval
(m)
|
True
Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
Vein
|
Ore
Type
|
ZKX0153
|
63.11
|
65.23
|
646
|
2.12
|
1.23
|
19
|
0.08
|
0.01
|
4.62
|
0.75
|
LM26
|
Cu-Ag-Au
|
ZKX0172
|
60.95
|
62.14
|
643
|
1.19
|
1.01
|
132
|
0.03
|
0.01
|
2.81
|
4.05
|
LM26
|
Cu-Ag-Au
|
ZKX0173
|
1.35
|
2.33
|
697
|
0.98
|
0.49
|
196
|
6.26
|
1.45
|
0.03
|
0.39
|
LM19W1
|
Ag-Pb-Zn
|
ZKX0173
|
69.70
|
70.43
|
653
|
0.73
|
0.21
|
217
|
0.83
|
0.15
|
1.87
|
0.79
|
LM26
|
Cu-Ag-Au
|
ZKX0346
|
66.05
|
66.55
|
887
|
0.50
|
0.46
|
322
|
2.45
|
0.13
|
0.03
|
0.04
|
LM12_1
|
Ag-Pb-Zn
|
ZKX0363
|
116.29
|
118.78
|
513
|
2.49
|
2.43
|
92
|
2.05
|
0.15
|
0.05
|
0.04
|
LM7
|
Ag-Pb-Zn
|
ZKX0390
|
18.68
|
19.52
|
680
|
0.84
|
0.63
|
57
|
3.89
|
0.14
|
0.05
|
0.04
|
LM19W
|
Ag-Pb-Zn
|
ZKX0390
|
60.86
|
61.63
|
640
|
0.77
|
0.58
|
37
|
0.01
|
0.03
|
0.92
|
5.43
|
LM26
|
Cu-Ag-Au
|
ZKX0391
|
60.94
|
61.51
|
640
|
0.57
|
0.48
|
9
|
0.56
|
0.07
|
3.15
|
2.36
|
LM26
|
Cu-Ag-Au
|
ZKX0392
|
9.23
|
10.25
|
689
|
1.02
|
0.42
|
214
|
0.20
|
0.33
|
0.01
|
0.03
|
LM19W
|
Ag-Pb-Zn
|
ZKX0393
|
16.81
|
17.64
|
684
|
0.83
|
0.56
|
25
|
5.36
|
0.02
|
0.01
|
0.01
|
LM21
|
Ag-Pb-Zn
|
ZKX0422
|
311.17
|
312.39
|
833
|
1.22
|
0.18
|
348
|
1.79
|
0.11
|
0.03
|
0.12
|
LM17
|
Ag-Pb-Zn
|
ZKX0433
|
119.75
|
120.26
|
918
|
0.51
|
0.41
|
1
|
0.00
|
0.01
|
2.82
|
0.01
|
W2
|
Au
|
ZKX0433
|
144.41
|
145.51
|
914
|
1.10
|
1.07
|
172
|
7.31
|
0.13
|
0.01
|
0.03
|
W1
|
Ag-Pb-Zn
|
ZKX0434
|
114.94
|
116.86
|
903
|
1.92
|
1.81
|
639
|
3.30
|
0.55
|
0.04
|
0.06
|
W2
|
Ag-Pb-Zn
|
ZKX0434
|
146.36
|
148.91
|
894
|
2.55
|
2.42
|
1,065
|
2.98
|
0.26
|
0.02
|
0.28
|
W1
|
Ag-Pb-Zn
|
ZKX0435
|
158.30
|
159.28
|
848
|
0.98
|
0.78
|
238
|
0.51
|
0.45
|
0.03
|
0.02
|
W1
|
Ag-Pb-Zn
|
ZKX0435
|
225.40
|
226.60
|
810
|
1.20
|
2.40
|
46
|
5.96
|
0.13
|
0.02
|
0.02
|
W6E1
|
Ag-Pb-Zn
|
ZKX0442
|
136.75
|
139.86
|
908
|
3.11
|
2.88
|
543
|
4.21
|
1.19
|
0.03
|
0.11
|
W2
|
Ag-Pb-Zn
|
ZKX0442
|
147.76
|
150.20
|
906
|
2.44
|
2.26
|
695
|
2.96
|
0.17
|
0.03
|
0.07
|
W1
|
Ag-Pb-Zn
|
ZKX0447
|
154.85
|
156.05
|
946
|
1.20
|
0.79
|
4,034
|
4.67
|
0.73
|
0.05
|
0.46
|
W1
|
Ag-Pb-Zn
|
ZKX0448
|
91.40
|
95.32
|
1,001
|
3.92
|
2.72
|
183
|
1.03
|
0.20
|
0.05
|
0.14
|
W2
|
Ag-Pb-Zn
|
ZKX0451
|
61.86
|
62.83
|
1,028
|
0.97
|
0.54
|
376
|
5.78
|
0.13
|
0.03
|
0.04
|
W2
|
Ag-Pb-Zn
|
ZKX0451
|
121.68
|
126.31
|
991
|
4.63
|
2.57
|
300
|
0.62
|
0.08
|
0.03
|
0.05
|
W1E
[1]
|
Ag-Pb-Zn
|
ZKX0451
|
137.88
|
140.99
|
981
|
3.11
|
1.72
|
1,468
|
4.90
|
0.97
|
0.03
|
0.35
|
W1
|
Ag-Pb-Zn
|
incl
|
138.72
|
139.90
|
981
|
1.18
|
0.65
|
3,572
|
12.55
|
2.40
|
0.03
|
0.88
|
W1
|
Ag-Pb-Zn
|
ZKX0452
|
28.85
|
29.82
|
934
|
0.97
|
0.95
|
995
|
3.06
|
0.19
|
0.05
|
0.23
|
W18E
[1]
|
Ag-Pb-Zn
|
ZKX0452
|
136.42
|
141.17
|
925
|
4.75
|
4.67
|
123
|
0.66
|
0.16
|
0.05
|
0.03
|
W1
|
Ag-Pb-Zn
|
ZKX0452
|
146.67
|
147.70
|
924
|
1.03
|
1.01
|
195
|
0.14
|
0.09
|
0.05
|
0.02
|
W6W
[1]
|
Ag-Pb-Zn
|
ZKX0452
|
163.80
|
164.40
|
922
|
0.60
|
0.59
|
309
|
1.04
|
0.10
|
0.05
|
0.02
|
W1E
|
Ag-Pb-Zn
|
ZKX0544
|
26.31
|
27.08
|
884
|
0.77
|
0.74
|
176
|
8.77
|
0.07
|
0.14
|
0.03
|
LM12_2a
[1]
|
Ag-Pb-Zn
|
ZKX0578
|
82.30
|
83.44
|
548
|
1.14
|
1.13
|
230
|
0.72
|
0.10
|
0.33
|
0.21
|
LM7
|
Ag-Pb-Zn
|
ZKX0581
|
68.26
|
70.77
|
576
|
2.51
|
1.98
|
200
|
0.22
|
0.12
|
0.09
|
0.09
|
LM7W1
|
Ag-Pb-Zn
|
ZKX05X019
|
16.90
|
17.45
|
794
|
0.55
|
0.54
|
158
|
1.18
|
0.04
|
0.03
|
0.02
|
LM7W
|
Ag-Pb-Zn
|
ZKX05X019
|
39.38
|
44.59
|
783
|
5.21
|
5.14
|
221
|
1.49
|
0.34
|
0.03
|
0.57
|
LM7
|
Ag-Pb-Zn
|
ZKX05X020
|
23.03
|
24.48
|
784
|
1.45
|
1.40
|
455
|
1.09
|
0.02
|
0.03
|
0.07
|
LM7W
|
Ag-Pb-Zn
|
ZKX05X020
|
35.97
|
46.44
|
774
|
10.47
|
5.79
|
520
|
0.72
|
0.27
|
0.03
|
0.28
|
LM7
|
Ag-Pb-Zn
|
ZKX05X021
|
37.66
|
43.76
|
767
|
6.10
|
6.06
|
213
|
0.85
|
0.11
|
0.05
|
0.28
|
LM7
|
Ag-Pb-Zn
|
incl
|
38.73
|
39.81
|
766
|
1.08
|
0.91
|
1,075
|
2.04
|
0.17
|
0.19
|
1.20
|
LM7
|
Ag-Pb-Zn
|
ZKX05X023
|
24.73
|
33.60
|
790
|
8.87
|
7.60
|
705
|
1.51
|
0.08
|
0.06
|
0.05
|
LM7W
|
Ag-Pb-Zn
|
incl
|
27.81
|
29.25
|
790
|
1.44
|
1.23
|
3,721
|
1.52
|
0.12
|
0.05
|
0.09
|
LM7W
|
Ag-Pb-Zn
|
ZKX05X024
|
21.14
|
24.79
|
785
|
3.65
|
3.21
|
135
|
0.74
|
0.05
|
0.06
|
0.03
|
LM7W
|
Ag-Pb-Zn
|
ZKX05X024
|
41.66
|
44.38
|
769
|
2.72
|
2.38
|
692
|
1.38
|
0.18
|
0.10
|
0.66
|
LM7
|
Ag-Pb-Zn
|
incl
|
41.66
|
42.17
|
769
|
0.51
|
0.45
|
1,737
|
2.53
|
0.10
|
0.05
|
0.10
|
LM7
|
Ag-Pb-Zn
|
ZKX05X025
|
16.57
|
19.68
|
785
|
3.11
|
2.45
|
207
|
0.62
|
0.07
|
0.98
|
0.03
|
LM50
|
Au
|
ZKX05X025
|
20.68
|
21.78
|
782
|
1.10
|
0.87
|
179
|
0.68
|
0.04
|
0.03
|
0.03
|
LM7W
|
Ag-Pb-Zn
|
ZKX05X037
|
24.97
|
30.37
|
795
|
5.40
|
5.06
|
703
|
1.52
|
0.14
|
0.08
|
0.42
|
LM8W
|
Ag-Pb-Zn
|
incl
|
28.15
|
29.23
|
794
|
1.08
|
1.01
|
2,721
|
4.74
|
0.38
|
0.20
|
1.65
|
LM8W
|
Ag-Pb-Zn
|
ZKX05X037
|
46.09
|
52.24
|
790
|
6.15
|
5.75
|
185
|
0.77
|
0.10
|
0.03
|
0.10
|
LM7
|
Ag-Pb-Zn
|
ZKX0628
|
34.81
|
35.62
|
934
|
0.81
|
0.80
|
422
|
1.44
|
4.71
|
0.03
|
0.13
|
W18E
|
Ag-Pb-Zn
|
ZKX0628
|
150.69
|
151.90
|
926
|
1.21
|
1.21
|
600
|
1.25
|
0.10
|
0.03
|
0.02
|
W1
|
Ag-Pb-Zn
|
ZKX0629
|
65.51
|
67.72
|
926
|
2.21
|
1.90
|
743
|
1.64
|
1.35
|
0.05
|
0.00
|
W2W
[1]
|
Ag-Pb-Zn
|
incl
|
65.51
|
66.38
|
926
|
0.87
|
0.75
|
1,175
|
4.10
|
3.38
|
0.05
|
0.29
|
W2W
|
Ag-Pb-Zn
|
ZKX0629
|
151.08
|
153.33
|
913
|
2.25
|
1.94
|
181
|
5.94
|
0.12
|
0.02
|
0.00
|
W1
|
Ag-Pb-Zn
|
ZKX0742
|
157.08
|
159.59
|
1,063
|
2.51
|
2.50
|
544
|
1.00
|
0.41
|
0.05
|
0.15
|
LM41E
|
Ag-Pb-Zn
|
ZKX0748
|
169.79
|
171.81
|
992
|
2.02
|
1.67
|
1,103
|
4.11
|
2.56
|
0.03
|
0.25
|
LM41E
|
Ag-Pb-Zn
|
incl
|
169.79
|
170.51
|
992
|
0.72
|
0.59
|
2,901
|
10.69
|
6.91
|
0.03
|
0.61
|
LM41E
|
Ag-Pb-Zn
|
ZKX0754
|
85.20
|
88.81
|
555
|
3.61
|
3.16
|
120
|
1.15
|
0.07
|
0.10
|
0.88
|
LM7
|
Ag-Pb-Zn
|
ZKX0766
|
14.66
|
15.17
|
799
|
0.51
|
0.49
|
458
|
0.29
|
0.23
|
0.03
|
0.06
|
LM41E
|
Ag-Pb-Zn
|
ZKX0771
|
4.65
|
6.01
|
801
|
1.36
|
1.33
|
453
|
0.52
|
0.19
|
0.01
|
0.04
|
LM41E
|
Ag-Pb-Zn
|
ZKX0771
|
11.69
|
12.61
|
799
|
0.92
|
0.90
|
389
|
1.55
|
0.46
|
0.02
|
0.06
|
LM17W
|
Ag-Pb-Zn
|
ZKX0771
|
41.17
|
42.66
|
791
|
1.49
|
1.46
|
93
|
1.81
|
0.12
|
0.02
|
0.03
|
LM41E1
[1]
|
Ag-Pb-Zn
|
ZKX0772
|
77.32
|
77.92
|
750
|
0.60
|
0.57
|
857
|
6.54
|
3.32
|
0.05
|
0.54
|
LM17W
|
Ag-Pb-Zn
|
ZKX0787
|
40.84
|
45.87
|
775
|
5.03
|
4.22
|
173
|
0.56
|
0.05
|
0.05
|
0.03
|
LM7
|
Ag-Pb-Zn
|
ZKX0787
|
80.04
|
81.55
|
749
|
1.51
|
1.27
|
2
|
0.01
|
0.02
|
5.86
|
0.01
|
LM26
|
Au
|
ZKX0788
|
14.46
|
16.93
|
789
|
2.47
|
1.99
|
1,193
|
0.40
|
0.04
|
1.26
|
0.16
|
LM50
|
Au
|
incl
|
15.8
|
16.93
|
788
|
1.13
|
0.91
|
1,963
|
0.03
|
0.03
|
2.65
|
0.29
|
LM50
|
Au
|
ZKX0789
|
15.96
|
18.92
|
786
|
2.96
|
2.21
|
1,646
|
2.42
|
0.27
|
0.45
|
0.17
|
LM7W
|
Ag-Pb-Zn
|
incl
|
15.96
|
16.56
|
787
|
0.60
|
0.45
|
3,024
|
0.04
|
0.03
|
1.31
|
0.17
|
LM7W
|
Ag-Pb-Zn
|
and
|
17.87
|
18.37
|
785
|
0.50
|
0.37
|
2,724
|
12.53
|
1.34
|
0.60
|
0.60
|
LM7W
|
Ag-Pb-Zn
|
ZKX0789
|
54.29
|
62.20
|
748
|
7.91
|
5.91
|
122
|
1.69
|
0.17
|
0.44
|
0.07
|
LM7
|
Ag-Pb-Zn
|
ZKX0793
|
40.82
|
42.43
|
715
|
1.61
|
1.39
|
611
|
4.65
|
0.05
|
0.20
|
1.11
|
LM7
|
Ag-Pb-Zn
|
ZKX0796
|
1.53
|
2.11
|
801
|
0.58
|
0.46
|
511
|
0.58
|
0.03
|
0.05
|
0.07
|
N/A
[2]
|
Ag-Pb-Zn
|
ZKX0796
|
7.9
|
9.48
|
798
|
1.58
|
1.24
|
994
|
4.05
|
0.12
|
0.18
|
0.39
|
LM8W
|
Ag-Pb-Zn
|
incl
|
7.9
|
8.57
|
798
|
0.67
|
0.53
|
2,155
|
9.48
|
0.27
|
0.37
|
0.92
|
LM8W
|
Ag-Pb-Zn
|
ZKX0796
|
31.07
|
31.65
|
789
|
0.58
|
0.46
|
271
|
0.64
|
0.27
|
0.17
|
0.13
|
LM7W
|
Ag-Pb-Zn
|
ZKX0796
|
37.23
|
40.7
|
786
|
3.47
|
2.74
|
27
|
0.29
|
0.22
|
11.82
|
0.01
|
LM50
|
Au
|
incl
|
38.99
|
40.7
|
785
|
1.71
|
1.35
|
44
|
0.56
|
0.42
|
23.24
|
0.02
|
LM50
|
Au
|
ZKX0982
|
6.95
|
7.75
|
799
|
0.80
|
0.60
|
391
|
1.35
|
0.19
|
0.03
|
0.05
|
LM41E
|
Ag-Pb-Zn
|
ZKX0982
|
56.77
|
57.81
|
765
|
1.04
|
0.79
|
1,829
|
8.81
|
0.71
|
0.11
|
0.34
|
LM41E1
|
Ag-Pb-Zn
|
ZKX0983
|
43.22
|
51.51
|
792
|
8.29
|
7.03
|
347
|
3.86
|
0.20
|
0.06
|
0.13
|
LM41E1
|
Ag-Pb-Zn
|
incl
|
48.48
|
49.29
|
791
|
0.81
|
0.69
|
2,955
|
35.65
|
1.07
|
0.29
|
0.66
|
LM41E1
|
Ag-Pb-Zn
|
ZKX0986
|
85.68
|
86.82
|
863
|
1.14
|
3.02
|
91
|
3.95
|
0.76
|
0.07
|
0.01
|
LM7W
|
Ag-Pb-Zn
|
ZKX0987
|
44.43
|
52.46
|
734
|
8.03
|
3.57
|
649
|
1.96
|
0.32
|
0.19
|
0.48
|
LM7
|
Ag-Pb-Zn
|
incl
|
47.73
|
49.30
|
734
|
1.57
|
0.70
|
2,000
|
5.07
|
0.85
|
0.53
|
0.37
|
LM7
|
Ag-Pb-Zn
|
ZKX09X004
|
50.69
|
51.95
|
770
|
1.26
|
1.22
|
56
|
5.59
|
0.08
|
0.03
|
0.01
|
LM41E1Wa
[1]
|
Ag-Pb-Zn
|
ZKX09X004
|
57.42
|
60.39
|
766
|
2.97
|
2.89
|
391
|
3.18
|
0.15
|
0.03
|
0.17
|
LM41E1
|
Ag-Pb-Zn
|
incl
|
59.36
|
60.39
|
765
|
1.03
|
1.00
|
980
|
8.00
|
0.31
|
0.03
|
0.39
|
LM41E1
|
Ag-Pb-Zn
|
ZKX09X005
|
46.00
|
46.56
|
794
|
0.56
|
0.40
|
323
|
4.49
|
0.13
|
0.03
|
0.08
|
LM41E1
|
Ag-Pb-Zn
|
ZKX1117
|
46.78
|
48.00
|
884
|
1.22
|
1.15
|
207
|
1.92
|
0.59
|
0.03
|
0.01
|
LM12E
|
Ag-Pb-Zn
|
ZKX1117
|
115.92
|
117.35
|
816
|
1.43
|
1.35
|
298
|
0.68
|
0.04
|
0.02
|
0.05
|
T1
|
Ag-Pb-Zn
|
ZKX1119
|
9.98
|
11.04
|
921
|
1.06
|
0.36
|
119
|
6.31
|
0.13
|
0.01
|
0.33
|
LM8_3
|
Ag-Pb-Zn
|
ZKX1137
|
37.61
|
39.36
|
795
|
1.75
|
1.63
|
295
|
2.50
|
0.20
|
0.04
|
0.09
|
LM41E1Wa
|
Ag-Pb-Zn
|
ZKX1137
|
46.40
|
51.56
|
793
|
5.16
|
4.80
|
984
|
1.19
|
0.29
|
0.08
|
1.15
|
LM41E1
|
Ag-Pb-Zn
|
incl
|
48.45
|
49.12
|
793
|
0.67
|
0.62
|
1,827
|
7.34
|
0.48
|
0.08
|
0.50
|
LM41E1
|
Ag-Pb-Zn
|
and
|
50.66
|
51.56
|
792
|
0.90
|
0.84
|
4,050
|
0.49
|
1.22
|
0.31
|
6.17
|
LM41E1
|
Ag-Pb-Zn
|
ZKX1142
|
145.65
|
146.85
|
706
|
1.20
|
0.98
|
38
|
7.01
|
0.07
|
0.05
|
0.01
|
LM17W
|
Ag-Pb-Zn
|
ZKX11806
|
88.93
|
89.48
|
517
|
0.55
|
0.97
|
46
|
11.63
|
0.16
|
0.02
|
0.21
|
LM19W2
|
Ag-Pb-Zn
|
ZKX11810
|
235.90
|
237.43
|
717
|
1.53
|
1.23
|
148
|
1.63
|
0.03
|
0.05
|
0.57
|
LM19W1
|
Ag-Pb-Zn
|
ZKX11811
|
103.94
|
105.90
|
812
|
1.96
|
1.54
|
344
|
2.79
|
0.39
|
0.04
|
0.20
|
LM11E1
|
Ag-Pb-Zn
|
ZKX1337
|
151.03
|
153.86
|
799
|
2.83
|
0.99
|
3
|
0.10
|
0.03
|
5.88
|
0.01
|
LM50
|
Au
|
incl
|
152.73
|
153.86
|
798
|
1.13
|
0.40
|
7
|
0.17
|
0.06
|
13.80
|
0.01
|
LM50
|
Au
|
ZKX14209
|
132.81
|
134.52
|
900
|
1.71
|
1.46
|
236
|
1.81
|
0.58
|
0.12
|
0.04
|
W6W
|
Ag-Pb-Zn
|
ZKX14209
|
137.15
|
139.32
|
899
|
2.17
|
1.86
|
139
|
3.11
|
0.18
|
0.05
|
0.02
|
W2
|
Ag-Pb-Zn
|
ZKX14209
|
152.55
|
153.35
|
895
|
0.80
|
0.69
|
181
|
4.94
|
3.54
|
0.05
|
0.02
|
W2E
[1]
|
Ag-Pb-Zn
|
ZKX14209
|
179.51
|
180.67
|
888
|
1.16
|
0.99
|
513
|
2.96
|
0.31
|
0.16
|
0.08
|
W6
|
Ag-Pb-Zn
|
[1] New
veins
|
[2] New veins without
name
|
Tunneling Programs at the LMW
Mine
A total of 1,753 m of exploration tunnels have been
developed at the LMW 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 to test for new
parallel and splay structures (Table 2).
At the elevation of 834 m, three
decline tunnels exposed low angle gold vein LM22 with ore lengths
of 20 m, 18
m and 10 m, and gold grades of
26.89 g/t, 20.80 g/t and 38.95 g/t, respectively. A four-hole
drilling program has been initiated to test the continuity of LM22
at the 834 m elevation.
Table 2: Summary of the tunneling program at the LMW
mine
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
(%)
|
Au
(g/t)
|
Cu
(%)
|
W1, W2, W18,
W6W, LM22,
LM8_2, LM17,
LM41E, LM50,
LM20E, LM12_1,
LM7, LM20, LM11,
LM14
|
525-918
|
1,753
|
1,358
|
738
|
385
|
0.71
|
519
|
2.71
|
0.43
|
2.72
|
0.70
|
[1] Mineralization is
defined by silver equivalent value (AgEq) greater than or equal to
145 g/t at the LMW mine
|
(Formula used
for AgEq calculation: AgEq = Ag g/t + 64.66 * Au g/t + 34.07 * Pb%
).
|
Table 3: Selected mineralized zones exposed by drift
tunneling at the LMW mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
Length
(m)
|
Ore Length
(m)
|
True Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
Ore
Type
|
XPDS-LM17-625-28SYM
|
LM17
|
625
|
206
|
35
|
0.87
|
720
|
4.31
|
0.49
|
0.02
|
0.47
|
Ag-Pb-Zn
|
XPDS-LM17-575-26SYM
|
LM17
|
575
|
148
|
77
|
0.89
|
316
|
4.30
|
0.77
|
0.02
|
0.15
|
Ag-Pb-Zn
|
XPDS-LM17-525-24SYM
|
LM17
|
525
|
260
|
10
|
0.80
|
635
|
1.19
|
0.27
|
0.02
|
0.47
|
Ag-Pb-Zn
|
PD924-LM22-834-3YMXS
|
LM22
|
834
|
20
|
18
|
0.53
|
23
|
0.08
|
0.01
|
20.80
|
0.69
|
Au-Cu
|
PD924-LM22-834-5YMSD
|
LM22
|
834
|
10
|
10
|
0.39
|
54
|
0.04
|
0.03
|
38.95
|
5.63
|
Au-Cu
|
PD924-LM22-834-5YMSS
|
LM22
|
834
|
26
|
20
|
0.38
|
97
|
0.06
|
0.09
|
26.89
|
12.93
|
Au-Cu
|
XPDN-LM41E-700-9NYM
|
LM41E
|
700
|
76
|
35
|
0.64
|
823
|
4.45
|
0.25
|
0.02
|
0.16
|
Ag-Pb-Zn
|
XPDN-LM50-800-7NYM
|
LM50
|
800
|
32
|
20
|
1.15
|
131
|
1.40
|
0.26
|
0.02
|
0.05
|
Au
|
XPDN-LM50-800-7SYMCM
|
LM50
|
800
|
160
|
20
|
0.73
|
4
|
0.05
|
0.03
|
4.02
|
0.01
|
Au
|
PD918-W1-918-4NYM
|
W1
|
918
|
30
|
30
|
0.61
|
1,222
|
3.74
|
0.98
|
0.15
|
0.34
|
Ag-Pb-Zn
|
PD918-W1-918-4SYM
|
W1
|
918
|
65
|
15
|
0.85
|
1,561
|
4.31
|
0.62
|
0.02
|
0.45
|
Ag-Pb-Zn
|
PD918-W1-880-8NYM
|
W1
|
880
|
150
|
45
|
0.66
|
336
|
2.38
|
0.18
|
0.02
|
0.03
|
Ag-Pb-Zn
|
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
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
with two-acids 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 0.2 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 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, 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.
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SOURCE Silvercorp Metals Inc