Silvercorp Continues to Intersect High-Grade Silver-Lead Zones at the TLP Mine

Silvercorp Continues to Intersect High-Grade Silver-Lead Zones at the TLP Mine

Trading Symbol:        TSX: SVM
NYSE AMERICAN: SVM

 

VANCOUVER, British Columbia July 17, 2023 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) is pleased to report high-grade silver-lead intercepts from its ongoing diamond drilling program at the TLP mine at the Ying Mining District, China.

 

Highlights (all intersections are in core lengths):

  • Surface hole ZKTDB0413 intersected 1,025 grams per tonne (“g/t”) silver (“Ag”), 3.01% lead (“Pb”), and 0.11 g/t gold (“Au”) over a 2.48 metre (“m”) interval of vein T26 at the 1,113 m elevation;
  • Surface hole ZKTDB2005 intersected 3,211 g/t Ag, 2.41% Pb, 0.15% zinc (“Zn”), and 0.16% copper (“Cu”) over a 0.63 m interval of vein T1E at the 1,129 m elevation;
  • Surface hole ZKTDB0501 intersected 312 g/t Ag, 3.21% Pb, and 0.43% Zn over a 5.04 m interval of vein T2 at the 980 m elevation;
  • Hole ZKG0847 intersected 8,254 g/t Ag, 11.71% Pb, and 1.30% Zn over a 1.87 m interval of vein T16 at the 684 m elevation;
  • Hole ZKG1447 intersected 7,140 g/t Ag, 30.79% Pb, 0.92% Zn, and 1.43% Cu over a 0.57 m interval of vein T15W2 at the 818 m elevation;
  • Hole ZKG0325 intersected 3,475 g/t Ag, 2.22% Pb, 1.52% Zn, and 0.75 g/t Au over a 0.86 m interval of vein T38 at the 752 m elevation;
  • Hole ZKT4710 intersected 83 g/t Ag, 10.46% Pb, 0.46% Zn, 0.09 g/t Au, and 0.75% Cu over a 6.26 m interval of vein T3 at the 638 m elevation;
  • Hole ZKG1024 intersected 2,743 g/t Ag, 6.95% Pb, and 1.67% Zn over a 1.27 m interval of vein T11 at the 630 m elevation;
  • Hole ZKG1437 intersected 2,204 g/t Ag, 5.13% Pb, 0.43% Zn, and 0.51% Cu over a 2.08 m interval of vein T16 at the 749 m elevation;
  • Hole ZKG1441 intersected 3,437 g/t Ag, 2.09% Pb, 1.55% Zn, and 0.22% Cu over a 1.20 m interval of vein T16 at the 727 m elevation;
  • Hole ZKT0829 intersected 453 g/t Ag, 5.10% Pb, and 0.93% Zn over a 4.60 m interval of vein T14E at the 975 m elevation; and
  • Hole ZKG0009 intersected 542 g/t Ag, 52.01% Pb, 0.20% Zn, and 0.16% Cu over a 0.81 m interval of vein T15W at the 637 m elevation.

From January 1, 2022, to June 15, 2023, a total of 66,679 m in 340 diamond drill holes, including 270 underground holes and 70 surface holes, were completed at the TLP mine. Assay results for 227 holes have been received, with 197 holes intersecting mineralization. Currently, there are 10 rigs drilling at the TLP mine.

 

The drilling program has targeted three areas: 1) silver-lead vein structures in the resource area at higher elevations, close to surface, which have seen limited exploration; 2) infilling in the production area, 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; and 3) step out drilling to test the extension of the major vein structures to the northeast of the resource area.

 

Drilling Near-Surface Ag-Pb Vein Structures within the Resource Area

 

Drilling over the past few years primarily focused on the lateral and downdip extent of known vein structures and paid insufficient attention to their extension potential at elevations above 900 m. In addition to the 70 surface drill holes, which account for over 20% of the drill holes in this program, many underground holes drilled also targeted the vein structures at higher elevations. High-grade Ag-Pb vein structures intersected at higher elevations include the T1 series, T2, T3 series, T11 series, T14E, T15 series, T16 series, T23 series, and T26 series (Table 1).

 

Drilling Above or Beneath Previously-Mined Stopes within the Resource Area

 

Most holes drilled during this period targeted blocks of known Ag-Pb vein structures that were previously missed due to limited drilling or tunneling, 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, T4, T11 series, T15 series, T16 series, T23 series, T20, T21, T31W3, T33 series, and T35 series, and the east-dipping T14 series, T22 series, T26 series, and T28 series. These intercepts have led to significant expansion and upgrading of resources. Since the ramps and access tunnels are already in place, these defined high-grade blocks can be quickly converted to reserves and mined.

 

Step-Out Drilling Intersecting Ag-Pb Veins to the Northeast of the Resource Area

 

Step-out surface and underground drilling intersected high-grade Ag-Pb veins T2, T3 series, T4, T5, and T21 series to the northeast of the resource area. Hole ZKT4710 intersected 83 g/t Ag, 10.46% Pb, 0.46% Zn and 0.75% Cu over a 6.26 m interval. These intercepts have extended the boundary of the resource area approximately 300 m to the northeast.
 
Table 1: Selected intercepts from the drilling programs at the TLP mine 

Hole ID From
(m)
To
(m)
Elevation
(m)
Interval
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
Vein
ZKTDB2005 23.60 24.90 1,141 1.30 108 1.18 0.03 0.03 0.07 T1
ZKTDB0412 82.92 84.76 1,101 1.84 216 1.08 0.07 0.05 0.03 T1
ZKTDB0422 74.09 75.86 1,101 1.77 268 0.18 0.03 0.02 0.02 T1
ZKTDB0413 90.30 92.14 1,084 1.84 195 2.94 0.03 0.07 0.01 T1
ZKTDB1781 126.97 129.95 984 2.98 162 2.01 0.07 0.02 0.03 T1
ZKT0933 124.02 124.62 910 0.60 261 11.44 2.52 T1
ZKT0006 38.46 38.96 888 0.50 190 3.96 0.18 0.07 0.06 T1
ZKTDB2005 54.64 55.27 1,129 0.63 3,211 2.41 0.15 0.03 0.16 T1E
ZKTDB0422 53.88 55.16 1,107 1.28 244 0.31 0.08 0.02 0.01 T1W
ZKTDB0427 58.17 58.71 1,105 0.54 672 0.67 0.07 0.03 0.07 T1W
ZKTDB0428 71.16 71.66 1,078 0.50 233 0.54 0.04 T1W
ZKTDB0603 106.05 107.10 1,034 1.05 837 2.64 0.31 0.05 0.05 T1W
ZKTDB0006 176.90 179.95 912 3.05 274 7.86 0.13 T1W
ZKT0815 73.01 73.92 871 0.91 119 4.58 0.09 0.35 0.01 T1W
ZKT1145 92.26 95.18 831 2.92 49 5.47 0.28 0.05 0.12 T1W
ZKTDB0428 13.40 16.59 1,117 3.19 134 0.48 0.26 T1W1
ZKTDB0422 28.46 30.10 1,116 1.64 91 1.42 0.10 0.02 0.02 T1W1
ZKTDB0603 28.83 30.64 1,100 1.81 177 0.79 0.05 0.05 0.06 T1W1
ZKTDB0008 109.91 110.44 1,017 0.53 867 1.11 1.73 0.11 0.09 T1W1
ZKTDB0006 118.81 119.30 958 0.49 60 5.59 0.07 T1W1
ZKT0826 3.79 4.54 897 0.75 204 0.17 0.08 0.02 0.02 T1W1
ZKT0613 148.66 149.52 884 0.86 960 1.11 1.28 T1W1
ZKT0404 151.28 153.71 866 2.43 137 1.18 0.37 0.02 0.02 T1W1
ZKT0907 126.35 126.87 636 0.52 324 3.15 0.49 T1W1
ZKT1315 119.43 120.43 590 1.00 175 4.09 2.25 1.11 0.58 T1W1
ZKT0941 125.28 128.32 590 3.04 138 3.15 1.23 0.16 1.06 T1W1
ZKT1314 134.41 135.01 545 0.60 1,061 4.41 1.44 0.58 0.89 T1W1
ZKT1315 128.64 129.22 585 0.58 141 1.27 1.69 0.49 0.17 T1W1a
ZKTDB0412 17.86 19.27 1,120 1.41 361 1.55 0.25 0.05 0.09 T1W2
ZKTDB0413 17.40 19.20 1,117 1.80 162 0.27 0.15 0.07 0.02 T1W2
ZKTDB0411 10.12 13.67 1,116 3.55 503 1.99 0.28 T1W2
ZKTDB0603 10.39 11.13 1,116 0.74 206 3.59 0.06 0.05 0.03 T1W2
ZKTDB0008 66.67 67.18 1,031 0.51 590 4.08 0.19 0.05 0.46 T1W2
ZKT0613 151.96 153.87 883 1.91 531 2.59 1.20 T1W2
ZKT0802 183.01 183.53 828 0.52 166 1.32 0.40 0.11 0.01 T1W2
ZKT0802 183.01 183.53 828 0.52 166 1.32 0.40 0.11 0.01 T1W2
ZKT1574 147.02 147.64 584 0.62 216 0.54 0.66 0.79 0.09 T1W2
ZKT1145 150.45 152.60 824 2.15 599 1.25 1.07 0.16 0.15 T1W2a
ZKTDB0404 77.13 78.61 1,131 1.48 166 0.71 0.18 0.05 0.01 T2
ZKT0224 87.79 88.48 986 0.69 538 1.60 0.05 0.05 0.04 T2
ZKTDB0501 172.99 178.03 980 5.04 312 3.21 0.43 0.06 0.06 T2
ZKTDB3306 60.85 63.13 947 2.28 132 0.35 0.11 T2
ZKTDB3307 58.45 60.31 946 1.86 208 0.37 0.14 T2
ZKT1145 46.32 49.47 836 3.15 225 3.12 2.08 0.43 0.68 T2
ZKT1144 42.50 43.39 836 0.89 132 4.87 0.23 0.03 0.44 T2
ZKT1354 166.38 168.31 824 1.93 120 0.76 0.02 0.02 0.04 T2
ZKT4708 140.80 141.95 710 1.15 31 5.54 0.04 0.19 0.01 T2
ZKT4715 145.31 145.87 666 0.56 186 2.01 0.09 T2
ZKT4522 151.31 152.86 641 1.55 34 6.12 0.10 0.80 T2
ZKT5104 251.05 251.65 540 0.60 18 3.58 0.19 2.45 0.07 T2
ZKT1129 32.06 32.80 839 0.74 435 0.06 0.04 0.03 0.01 T2E
ZKT0006 126.31 126.85 877 0.54 344 1.48 0.35 0.13 0.04 T2E1
ZKT0224 68.22 70.88 990 2.66 114 1.54 0.03 0.05 0.03 T2W
ZKT0106 42.26 44.20 886 1.94 275 3.45 0.07 T2W
ZKT0107 45.39 45.96 882 0.57 229 0.96 0.02 T2W
ZKT0106 74.47 76.83 882 2.36 114 1.70 0.08 T2W1
ZKTDB1201 46.72 49.99 1,120 3.27 41 4.92 0.13 T3
ZKTDB2401 143.18 144.13 1,029 0.95 180 1.11 0.11 0.02 0.04 T3
ZKTDB3305 75.62 77.18 917 1.56 3 0.01 0.03 2.67 0.01 T3
ZKT0006 142.50 143.06 875 0.56 311 2.35 0.10 0.14 0.32 T3
ZKT0201 114.56 117.54 871 2.98 284 2.71 0.10 0.08 0.01 T3
ZKT1129 20.40 22.61 840 2.21 226 1.95 0.68 0.16 0.09 T3
ZKT1145 21.01 22.20 839 1.19 257 1.32 0.44 0.14 0.19 T3
ZKT1144 19.30 22.36 839 3.06 327 0.25 0.11 0.50 0.06 T3
ZKT1127 22.42 23.61 833 1.19 173 2.02 0.42 0.23 0.27 T3
ZKT0214 177.80 178.38 787 0.58 100 8.93 0.05 T3
ZKT0215 201.22 205.34 786 4.12 100 1.78 0.06 T3
ZKT4708 145.90 146.66 709 0.76 23 7.18 0.07 0.05 0.04 T3
ZKT4521 155.20 158.41 663 3.21 38 9.72 0.04 T3
ZKT4712 162.88 168.60 644 5.72 25 5.08 0.09 T3
ZKT4710 165.61 171.87 638 6.26 83 10.46 0.46 0.09 0.75 T3
ZKT5912 145.09 145.64 635 0.55 333 0.23 0.06 0.01 0.02 T3
ZKT4716 180.22 181.10 630 0.88 60 6.27 0.06 T3
ZKT5910 196.49 197.29 605 0.80 7 0.01 0.01 3.81 0.01 T3
ZKT5104 260.62 261.45 532 0.83 19 7.78 0.55 0.03 0.20 T3
ZKT5504 220.79 221.61 404 0.82 13 5.55 0.61 0.05 0.01 T3
ZKTDB1780 192.54 193.05 932 0.51 77 4.27 0.16 0.02 0.01 T3E
ZKT3737 7.16 7.72 749 0.56 213 3.38 0.24 0.45 0.65 T3E
ZKT5502 118.56 120.15 652 1.59 193 0.53 0.22 0.05 0.01 T3E
ZKT4710 174.72 175.24 633 0.52 79 35.25 1.14 0.03 0.19 T3E
ZKT4709 173.87 176.13 630 2.26 77 11.35 0.05 0.06 0.49 T3E
ZKT5910 205.53 207.22 599 1.69 334 0.51 0.42 0.30 0.04 T3E
ZKT5106 390.24 391.41 384 1.17 8 5.96 0.05 0.03 T3E
ZKG0607 234.64 235.25 298 0.61 1,012 1.30 2.84 5.15 0.07 T3E
ZKT0006 147.31 148.05 874 0.74 43 7.28 0.18 0.06 0.01 T3E1
ZKT3721 9.26 10.89 746 1.63 208 4.28 1.20 2.60 0.49 T3E1
ZKTDB3307 127.81 128.65 921 0.84 831 0.90 1.10 T4
ZKTDB3305 136.37 137.81 877 1.44 703 1.35 0.23 0.21 0.03 T4
ZKT3737 37.61 38.66 741 1.05 131 29.55 0.22 0.21 0.77 T4
ZKT3718 37.51 38.16 734 0.65 66 6.57 0.07 0.23 0.25 T4
ZKT3719 38.82 41.01 724 2.19 44 6.47 0.63 0.19 0.22 T4
ZKT5106 398.53 399.05 377 0.52 51 8.27 0.11 0.90 T4
ZKT3737 52.90 54.74 737 1.84 96 4.10 0.14 0.40 0.23 T5
ZKT3721 47.99 50.80 726 2.81 88 2.55 0.21 0.19 0.12 T5
ZKT5505 126.23 127.57 696 1.34 88 2.85 0.24 0.01 0.01 T5
ZKG1221A 136.00 136.53 948 0.53 178 7.35 0.79 0.05 0.03 T11
ZKG1814 11.67 12.18 838 0.51 533 2.38 0.16 0.05 0.08 T11
ZKG1030 129.28 131.45 814 2.17 957 0.52 0.15 T11
ZKG0503 147.37 148.58 733 1.21 682 3.64 0.39 0.05 0.21 T11
ZKG0504 137.22 137.73 716 0.51 748 2.53 0.14 0.20 0.10 T11
ZKG0812 230.25 231.19 712 0.94 911 0.42 0.05 0.01 0.02 T11
ZKG1226 125.24 125.77 683 0.53 56 0.27 0.28 0.02 3.32 T11
ZKG1024 128.39 129.66 630 1.27 2,743 6.95 1.67 T11
ZKG1105 206.94 207.90 626 0.96 48 10.31 0.09 0.05 0.13 T11
ZKG1009 145.17 145.76 578 0.59 752 11.83 5.55 T11
ZKG0108 279.35 280.02 541 0.67 57 8.73 1.39 0.39 0.04 T11
ZKG0454 200.83 201.89 535 1.06 385 8.98 1.48 2.12 0.12 T11
ZKT0616 69.45 70.16 906 0.71 101 2.69 0.13 0.05 0.04 T11E
ZKG0108 342.11 342.74 517 0.63 166 8.89 6.78 1.65 0.01 T11E
ZKG0809 227.42 228.35 627 1.01 216 0.64 0.14 T11E2
ZKG0810 227.29 227.93 619 0.64 260 0.93 0.34 T11E2
ZKT0812 131.72 132.31 907 0.59 781 5.82 0.71 0.05 0.18 T11E4
ZKT0616 82.24 82.74 902 0.50 1,259 2.97 0.47 0.05 0.29 T11E4
ZKT0812 29.72 30.31 919 0.59 754 0.45 0.48 0.05 0.02 T11W
ZKG1815 34.90 35.45 840 0.55 684 0.91 0.25 0.02 0.04 T11W1
ZKG1819 87.46 88.02 794 0.56 24 6.21 0.29 0.01 T12
ZKG0104 152.05 152.67 791 0.62 130 2.12 0.36 0.02 0.01 T14
ZKT0530 108.41 110.59 752 2.18 79 5.28 0.54 0.01 0.04 T14
ZKG0465 115.81 116.44 680 0.63 222 4.42 0.54 0.22 0.08 T14
ZKT0829 35.73 40.33 975 4.60 453 5.10 0.93 0.05 0.07 T14E
ZKT0611 110.05 110.85 918 0.80 322 0.46 0.17 T14E
ZKT0610 92.60 93.10 902 0.50 264 10.60 0.14 0.05 0.01 T14E
ZKG0106 200.35 201.89 824 1.54 134 1.57 0.07 0.03 0.08 T14E
ZKT0717 130.39 131.53 788 1.14 252 1.48 1.18 0.05 0.02 T14E
ZKG1221A 93.13 93.71 951 0.58 158 2.06 0.26 0.05 0.01 T15
ZKT0813 14.69 15.29 921 0.60 189 1.87 0.12 0.05 0.01 T15
ZKT0812 17.59 18.13 921 0.54 233 1.42 0.16 0.05 0.05 T15
ZKG1815 11.36 12.09 838 0.73 298 1.09 0.48 0.02 0.05 T15
ZKG1447 15.23 15.81 832 0.58 321 0.56 0.26 0.01 0.25 T15
ZKG1610 114.81 115.80 815 0.99 548 1.28 0.50 T15
ZKG0113 105.51 106.22 617 0.71 310 2.86 0.21 0.24 0.19 T15
ZKT1027 142.72 144.13 944 1.41 40 3.30 0.15 0.05 T15W
ZKT1006 5.03 6.07 919 1.04 573 0.37 0.07 0.05 0.04 T15W
ZKG1815 47.76 48.42 841 0.66 209 0.51 0.20 0.02 0.06 T15W
ZKG1437 48.75 49.28 816 0.53 429 0.10 0.26 0.05 0.10 T15W
ZKG1438 58.28 58.95 808 0.67 784 0.97 1.16 0.06 0.10 T15W
ZKG1606 131.63 132.15 685 0.52 184 6.49 0.20 0.12 0.03 T15W
ZKG0009 88.28 89.09 637 0.81 542 52.01 0.20 0.05 0.16 T15W
ZKG1024 125.56 127.29 632 1.73 279 0.40 0.10 T15W
ZKG0115 74.92 76.05 622 1.13 404 19.59 0.50 T15W
ZKG0113 96.89 97.75 620 0.86 596 10.45 0.53 0.09 0.19 T15W
ZKG0005 107.91 108.41 593 0.50 460 11.98 0.35 T15W
ZKT0804 60.41 60.93 921 0.52 211 0.60 0.20 0.05 0.02 T15W1
ZKT0805 48.50 49.00 921 0.50 382 1.47 0.73 T15W1
ZKG0605 191.30 191.82 632 0.52 2,128 3.43 0.21 0.11 0.12 T15W1
ZKG0113 75.05 75.85 627 0.80 216 1.12 0.24 0.17 0.01 T15W1
ZKG1821 63.03 63.85 826 0.82 373 0.52 0.25 0.05 0.05 T15W2
ZKG1447 67.99 68.56 818 0.57 7,140 30.79 0.92 0.04 1.43 T15W2
ZKG1437 73.12 73.67 806 0.55 1,246 1.09 0.09 0.05 0.16 T15W2
ZKG1441 82.74 83.25 798 0.51 646 13.14 0.10 0.11 0.05 T15W2
ZKG1226 40.17 41.60 694 1.43 162 1.02 0.40 0.02 0.03 T15W2
ZKG1024 39.63 40.18 678 0.55 909 0.76 0.25 T15W2
ZKG1821 122.47 123.08 817 0.61 1,036 0.76 0.25 0.05 0.20 T15W4
ZKT0716 61.96 62.53 794 0.57 672 1.41 1.34 0.05 0.06 T15W4
ZKG0111 92.43 92.95 621 0.52 103 3.05 0.08 T15W4
ZKG1447 188.43 188.98 787 0.55 2,778 2.40 2.56 0.02 0.21 T16
ZKT1365 178.41 179.04 780 0.63 635 4.54 1.04 0.07 0.11 T16
ZKG1437 212.50 214.58 749 2.08 2,204 5.13 0.43 0.05 0.51 T16
ZKG1441 240.19 241.39 727 1.20 3,437 2.09 1.55 0.05 0.22 T16
ZKG0852 39.02 39.54 712 0.52 502 1.71 0.42 T16
ZKG1023 38.65 39.20 710 0.55 465 1.38 1.05 0.06 T16
ZKG1012 45.94 46.44 691 0.50 281 2.37 0.18 0.05 0.01 T16
ZKG0847 59.22 61.09 684 1.87 8,254 11.71 1.30 T16
ZKG0452 63.17 63.78 645 0.61 310 0.62 0.54 0.14 0.01 T16
ZKG0360 199.06 201.45 576 2.39 84 2.91 0.44 0.16 0.02 T16
ZKG0535 214.82 216.01 560 1.19 343 19.10 2.95 1.68 0.08 T16
ZKT1017 50.71 51.32 973 0.61 313 3.17 0.30 0.03 0.02 T16E1
ZKG1022 15.13 15.65 704 0.52 420 0.89 0.36 0.05 T16E1
ZKG0852 81.75 82.26 725 0.51 540 6.43 0.24 T16W
ZKG1022 89.20 89.82 719 0.62 414 5.38 1.45 0.02 T16W
ZKG1816 308.92 309.46 715 0.54 247 3.04 0.74 0.05 0.01 T16W
ZKG0847 95.45 96.02 675 0.57 20 5.25 0.43 T16W
ZKG1449 319.14 320.46 661 1.32 1,350 2.07 2.02 0.05 T16W
ZKG0852 53.88 55.15 716 1.27 537 0.91 0.10 T16W1
ZKG0107 113.70 114.24 597 0.54 245 1.83 1.82 0.59 0.04 T16W1
ZKT0113 68.27 68.89 927 0.62 253 0.07 0.10 0.02 0.02 T16W3
ZKG1814 208.28 209.82 857 1.54 181 2.03 0.82 0.05 0.04 T17
ZKG1810 221.15 221.74 753 0.59 283 14.98 0.24 0.03 0.02 T17
ZKG1816 221.45 224.88 749 3.43 73 1.80 0.26 0.05 0.02 T17
ZKG2211 234.94 235.54 732 0.60 192 5.66 0.39 T17
ZKG1438 263.73 264.25 712 0.52 53 7.18 0.06 0.02 0.01 T17
ZKG1449 299.01 300.60 672 1.59 1,028 3.33 0.33 0.05 T17
ZKG1814 203.27 205.21 857 1.94 419 2.66 0.54 0.05 0.14 T17E
ZKG1438 244.49 245.05 721 0.56 267 1.11 0.17 0.03 0.03 T17E
ZKG1820 16.59 18.21 696 1.62 188 0.72 0.23 0.05 0.05 T17E
ZKG1810 266.29 268.43 735 2.14 463 2.51 0.35 0.02 0.07 T17W
ZKG0429 80.78 81.39 682 0.61 135 4.01 0.36 T17W
ZKG1810 261.84 262.36 737 0.52 716 0.74 0.18 0.02 0.41 T17W2
ZKT3718 46.48 50.52 730 4.04 61 2.88 0.13 0.27 0.27 T20
ZKTDB0504 23.97 24.70 1,055 0.73 308 1.49 0.06 T21
ZKTDB0404 247.57 248.81 1,046 1.24 334 2.41 0.40 0.05 0.21 T21
ZKT0523 100.78 103.75 916 2.97 89 15.87 0.22 0.05 0.11 T21
ZKT3738 64.96 65.46 734 0.50 445 7.29 0.84 0.44 0.14 T21
ZKT3737 68.47 69.89 733 1.42 914 0.63 0.64 1.25 0.17 T21
ZKT3738 87.81 88.33 728 0.52 30 8.08 0.07 0.05 0.01 T21E
ZKT1142 93.10 93.58 1,012 0.48 286 14.66 0.32 0.02 0.04 T22
ZKT1129 133.63 134.24 830 0.61 211 0.73 0.37 0.11 0.03 T22
ZKG1810 300.74 302.32 723 1.58 195 0.80 0.06 0.03 0.12 T22E
ZKTDB0381 169.22 170.44 1,002 1.22 131 1.38 0.27 0.02 0.06 T22W
ZKTDB0009 22.74 23.35 1,046 0.61 2,587 0.72 0.22 0.05 0.29 T23
ZKTDB0006 26.43 28.42 1,032 1.99 256 1.20 0.08 T23
ZKTDB0004 26.34 26.87 1,029 0.53 288 11.11 0.20 T23
ZKT1354 19.67 20.30 808 0.63 178 1.69 0.28 0.03 0.11 T23
ZKT4712 98.27 101.25 681 2.98 92 4.78 0.06 T23
ZKT4716 114.15 114.93 669 0.78 261 0.70 0.14 T23
ZKT1574 167.09 167.74 580 0.65 591 0.81 0.95 0.19 0.15 T23
ZKT1574 163.88 164.48 581 0.60 669 1.28 2.49 0.20 0.24 T23E
ZKTDB0381 60.81 62.77 1,056 1.96 373 0.22 0.08 0.02 0.02 T23W
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ZKTDB1522 225.44 226.03 1,020 0.59 326 4.04 0.14 0.01 0.02 T33
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ZKT2925 106.81 107.35 805 0.54 464 3.39 5.48 0.16 0.02 T38
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ZKG0104 82.94 83.57 796 0.63 948 3.00 2.24 0.02 0.15 T38
ZKT0709 52.12 52.62 794 0.50 196 0.47 0.49 0.05 0.02 T38
ZKT0529 46.13 46.95 793 0.82 326 5.67 1.26 0.05 0.12 T38
ZKT0710 51.13 51.67 793 0.54 581 6.04 0.66 0.03 0.03 T38
ZKG0325 96.57 97.43 752 0.86 3,475 2.22 1.52 0.75 0.07 T38
ZKT2928 209.12 209.70 820 0.58 445 0.68 0.25 0.05 0.02 T39
ZKT2925 173.10 173.72 784 0.62 199 1.55 0.73 0.03 0.03 T39E2
ZKT2927 167.57 168.07 824 0.50 308 0.26 0.05 0.05 0.02 T39W
ZKT2928 171.00 171.51 824 0.51 373 1.14 0.22 0.05 0.01 T39W
ZKT2925 150.01 150.61 791 0.60 420 0.58 0.28 0.03 0.01 T39W
ZKG1030 94.18 94.82 820 0.64 71 4.23 0.42 NA[1]

[1] New vein with no vein ID

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 1 mm 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 0.2 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 1 mm 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 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.

 

For further information

Silvercorp Metals Inc.
Lon Shaver
Vice President

Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: [email protected]
Website: 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 under the heading “Risk Factors” and in the Company’s Annual Report on Form 40-F, and in the Company’s other filings with Canadian and U.S securities regulators. 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.

Additional information related to the Company, including Silvercorp’s Annual Information Form, can be obtained under the Company’s profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on the Company’s website at www.silvercorpmetals.com.

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.