Trading Symbol: TSX / NYSE American: SVM
VANCOUVER, BC, May 25, 2021 /CNW/ - Silvercorp Metals Inc.
("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is
pleased to report wide and high-grade intercepts from its 2021
exploration program at the LMW mine, Ying Mining District,
Henan Province, China. Extensive exploration drilling and
tunnelling are ongoing at the LMW mine and all other mines at the
Ying Mining District.
The drilling program from October 1,
2020 to May 1, 2021 at the LMW
mine has been focused on in-fill drilling target areas of known
silver-lead-zinc veins that were believed to be uneconomic based on
limited prior drilling and tunneling. Currently, ten rigs are
drilling at the LMW mine and a total of 116 diamond drill holes,
including 100 underground holes and 16 surface holes totaling
22,890 metres ("m") have been completed. Assay results for 101
holes have been received with 53 holes intercepting many zones of
high-grade silver-lead mineralization and gold mineralization,
including veins LM7, LM7E, LM8, LM8_1, LM12, LM12_1, LM13, LM13W,
LM16W1, LM17, LM17E, LM19, LM19Wa, LM41E, LM41E1, and LM50.
Wide Intercepts of Vein LM7
Four in-fill drill holes, together with cross-cut tunnels and
previously intercepted drill holes, have defined a block of vein
LM7 showing wide intercepts trace along a strike length of
320 m near the development tunnels at
the 600 m level. Currently, three
rigs are drilling this discovery:
- Hole ZKX0575 intersected a 20.75
m interval (19.67 m true
width) of vein LM7 grading 261 grams per tonne ("g/t") silver
("Ag"), 1.08% lead ("Pb"), 0.04% zinc ("Zn"), 0.16 g/t gold ("Au"),
and 0.78% copper ("Cu"), which includes an 8.43 m interval (8.0
m true width) grading 532 g/t Ag, 2.20% Pb, 0.07% Zn, 0.31
g/t Au, and 1.62% Cu;
- Hole ZKX0530 intersected a 25.58
m interval (23.96 m true
width) of vein LM7 grading 202 g/t Ag, 1.26% Pb, 0.12% Zn, 0.15 g/t
Au, and 0.37% Cu, including 3.98 m
interval (3.73 m true width) grading
818 g/t Ag, 2.9% Pb, 0.05% Zn, 0.23 g/t Au, and 0.46% Cu;
- Hole ZKX0751 intersected a 20.03
m interval (19.32 m true
width) of vein LM7 grading 162 g/t Ag, 1.38% Pb, 0.11% Zn, 0.09 g/t
Au, and 1.00% Cu; and
- Hole ZKX0732 intersected a 16.93
m interval (16.16 m true
width) of vein LM7 grading 112 g/t Ag, 2.00% Pb, 0.13% Zn, 0.09g/t
Au, and 0.79% Cu.
Confirmation of Vein W1
Drilling and drift tunnels have further demonstrated continuity
of the near north-south extending W1 and northwestern striking W6,
W6E1, W6E2, W6W, and W18 veins, with high-grade silver-lead
mineralization intercepts at 800 m to
950 m elevation in the northwestern
part of the LMW mine. The discoveries are expected to expand the
resources in this area.
Highlights of selected drill hole intercepts:
- Hole ZKX0429 intersected a 1.51 m interval (1.50
m true width) of vein W1 grading 1,103 g/t Ag, 1.46% Pb,
0.10% Zn, 0.05 g/t Au, and 0.65% Cu, which includes a 0.79 m interval (0.77
m true width) grading 2,078 g/t Ag, 0.41% Pb, 0.11% Zn, 0.09
g/t Au, and 1.22% Cu; and
- Hole ZKX0728 intersected a 1.17 m interval of vein W1 grading 1,072 g/t Ag,
1.52% Pb, 0.09% Zn, 0.15 g/t Au, and 0.08 Cu.
Ongoing Drilling of Sub-Horizontal Gold Zone at Vein
LM50
As listed in Table 1 below, ten drill holes intercepted the
sub-horizontal gold structures at LM50, with Hole ZKX0423
intersecting a 2.25 m interval
(1.62 m true width) of vein LM50
grading 10.53 g/t Au.
In-fill Drilling of Other Veins
- Hole ZKX0383 intersected a 2.59
m interval (1.95 m true width)
of vein LM13 grading 1,166 g/t Ag, 0.04% Pb, 0.06% Zn, 0.74 g/t Au,
and 0.65% Cu, which includes a 1.37 m
interval (1.03 m true width) grading
2,179 g/t Ag, 0.07% Pb, 0.10% Zn, 0.05 g/t Au, and 0.90% Cu;
- Hole ZKX0305_1 intersected a 6.44
m interval (2.67 m true width)
of vein LM13W2 grading 386 g/t Ag, 1.82% Pb, 0.08% Zn, 0.07 g/t Au,
and 0.80 g/t Cu; and
- Hole ZKX3811 intersected a 5.16
m interval (4.97 m true width)
of vein LM17 grading 388 g/t Ag, 1.95% Pb, 0.09% Zn, 0.04 g/t Au,
and 0.08% Cu, which includes a 1.80 m
interval (0.99 m true width) of 833
g/t Ag, 3.11%Pb, 0.10% Zn, 0.06 g/t Au, and 0.19% Cu.
Tunneling Results
In addition, a total of 3,352 m of
exploration tunnels have been developed at the LMW mine during the
period. These exploration tunnels (including 2,434 m of drifts) were driven along and across
major mineralized vein structures to upgrade the drill defined
mineral resources and test for new parallel and splay structures,
and are summarized as follows:
Major Target
Veins
|
Elevation
(m)
|
Total
Tunneling
(m)
|
Channel
Samples
Collected
|
Drift
Included
(m)
|
Total
Mineralization Exposed by Drifts [1]
|
Length
(m)
|
Average True
Width (m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
LM12_1, LM14,
LM16,
LM17, LM17W, LM19W2,
LM41E, LM41E1, LM41Ea,
LM50, LM7, W1, W6, W6E1,
6E2, W6W, W18
|
500-1080
|
3,352
|
1,796
|
2,434
|
577
|
0.66
|
507
|
4.35
|
0.48
|
0.05
|
0.19
|
[1] Mineralization is
defined by silver equivalent value (AgEq) greater than or equal to
155 g/t at the LMW mine (Formula used for AgEq calculation:
AgEq = Ag g/t + 35.06 * (Pb% + Cu%) + 79.57 * Au
g/t).
|
Highlights of selected mineralized zones exposed in the drift
tunnels:
- Drift Tunnel XPDN-LM17-800-9SYM exposed
mineralization 15 m long and
1.38 m wide (true width) grading
1,460 g/t Ag, 11.36% Pb, 0.87% Zn, 0.02 g/t Au, and 0.22% Cu within
vein LM17;
- Drift Tunnel XPDS-LM17-575-26SYM exposed
mineralization 40 m long and
1.54 m wide (true width) grading 708
g/t Ag, 4.57% Pb, 0.40% Zn, 0.26 g/t Au and 0.47% Cu within vein
LM17; and
- 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 within
vein W1.
Table 1: Selected results from the 2021 drill programs
at the LMW mine
Hole
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
interval
(m)
|
True
Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
Vein
|
Ore
Type
|
ZKX0009
|
132.51
|
133.14
|
514
|
0.63
|
0.50
|
14
|
0.84
|
0.29
|
12.38
|
0.01
|
LM20
|
Au
|
ZKX0022
|
26.64
|
27.58
|
892
|
0.94
|
0.92
|
208
|
0.68
|
0.07
|
0.01
|
0.02
|
LM13
|
Ag-Pb
|
ZKX0024
|
5.38
|
6.39
|
902
|
1.01
|
0.69
|
1,623
|
0.20
|
0.08
|
0.01
|
0.04
|
LM13W
|
Ag-Pb
|
ZKX0217
|
297.50
|
298.51
|
845
|
1.01
|
0.67
|
195
|
0.10
|
0.16
|
0.04
|
0.02
|
LM17
|
Ag-Pb
|
ZKX0305_1
|
48.80
|
49.57
|
882
|
0.77
|
0.35
|
2,290
|
0.31
|
0.05
|
0.01
|
0.02
|
LM22
|
Ag-Pb
|
ZKX0305_1
|
93.98
|
95.13
|
841
|
1.15
|
0.51
|
10
|
0.18
|
0.06
|
2.27
|
0.02
|
LM50
|
Au
|
ZKX0305_1
|
225.07
|
231.51
|
719
|
6.44
|
2.67
|
386
|
1.82
|
0.08
|
0.07
|
0.80
|
LM13W2
|
Ag-Pb
|
ZKX0305_1
|
250.08
|
251.91
|
700
|
1.83
|
0.76
|
467
|
0.40
|
0.05
|
0.01
|
0.15
|
LM21
|
Ag-Pb
|
ZKX0333
|
48.04
|
49.10
|
898
|
1.06
|
1.06
|
232
|
2.36
|
0.04
|
0.05
|
0.15
|
LM13W
|
Ag-Pb
|
ZKX0355
|
115.70
|
116.43
|
813
|
0.73
|
0.73
|
19
|
5.87
|
0.31
|
0.04
|
0.00
|
LM19W2a
|
Ag-Pb
|
ZKX0383
|
72.84
|
75.43
|
916
|
2.59
|
1.95
|
1,166
|
0.04
|
0.06
|
0.74
|
0.65
|
LM13
|
Ag-Pb
|
including
|
72.84
|
74.21
|
917
|
1.37
|
1.03
|
2,179
|
0.07
|
0.10
|
0.05
|
0.90
|
LM13
|
Ag-Pb
|
ZKX0413
|
287.53
|
288.34
|
409
|
0.81
|
0.50
|
286
|
1.79
|
0.14
|
0.02
|
0.09
|
LM41E
|
Ag-Pb
|
ZKX0413
|
501.84
|
502.89
|
258
|
1.05
|
0.64
|
698
|
11.69
|
0.40
|
0.29
|
0.15
|
LM17E
|
Ag-Pb
|
ZKX0423
|
221.18
|
222.51
|
757
|
1.33
|
0.96
|
222
|
1.96
|
0.67
|
0.03
|
0.08
|
LM17
|
Ag-Pb
|
ZKX0423
|
227.07
|
228.29
|
754
|
2.25
|
1.62
|
2
|
0.03
|
0.02
|
10.53
|
0.02
|
LM50
|
Au
|
ZKX0428
|
30.32
|
32.12
|
933
|
1.80
|
1.57
|
240
|
0.31
|
0.28
|
0.05
|
0.03
|
W18E
|
Ag-Pb
|
ZKX0428
|
147.62
|
149.07
|
916
|
1.45
|
1.38
|
238
|
2.21
|
0.19
|
0.05
|
0.14
|
W1
|
Ag-Pb
|
ZKX0429
|
79.38
|
79.96
|
915
|
0.58
|
0.26
|
219
|
1.12
|
2.07
|
0.01
|
0.09
|
W2
|
Ag-Pb
|
ZKX0429
|
151.35
|
152.86
|
895
|
1.51
|
1.50
|
1,103
|
1.46
|
0.10
|
0.05
|
0.65
|
W1
|
Ag-Pb
|
Including
|
151.35
|
152.14
|
895
|
0.79
|
0.77
|
2,078
|
0.41
|
0.11
|
0.09
|
1.22
|
W1
|
Ag-Pb
|
ZKX0530
|
118.63
|
144.21
|
550
|
25.58
|
23.96
|
202
|
1.26
|
0.12
|
0.15
|
0.37
|
LM7
|
Ag-Pb
|
Including
|
140.23
|
144.21
|
540
|
3.98
|
3.73
|
818
|
2.90
|
0.05
|
0.23
|
0.46
|
LM7
|
Ag-Pb
|
ZKX0564
|
159.74
|
163.56
|
794
|
3.82
|
2.21
|
3
|
0.08
|
0.02
|
2.60
|
0.01
|
LM50
|
Au
|
ZKX0564
|
180.21
|
181.89
|
776
|
1.68
|
0.98
|
2
|
0.01
|
0.01
|
1.86
|
0.01
|
LM51
|
Au
|
ZKX0566
|
167.48
|
169.11
|
794
|
1.63
|
0.72
|
5
|
0.11
|
0.02
|
1.63
|
0.00
|
LM50
|
Au
|
ZKX0567
|
157.48
|
158.34
|
784
|
0.86
|
0.69
|
10
|
0.41
|
0.31
|
1.30
|
0.01
|
LM50
|
Au
|
ZKX0575
|
79.38
|
100.13
|
558
|
20.75
|
19.67
|
261
|
1.08
|
0.04
|
0.16
|
0.78
|
LM7
|
Ag-Pb
|
including
|
80.54
|
88.97
|
561
|
8.43
|
8.00
|
532
|
2.20
|
0.07
|
0.31
|
1.62
|
LM7
|
Ag-Pb
|
ZKX0719
|
18.94
|
19.60
|
912
|
0.66
|
[1]
|
1,121
|
7.24
|
0.35
|
0.21
|
0.11
|
LM19
|
Ag-Pb
|
ZKX0728
|
128.99
|
130.57
|
998
|
1.58
|
[1]
|
95
|
0.25
|
0.07
|
6.02
|
0.29
|
W1
|
Ag-Pb
|
ZKX0728
|
188.33
|
189.50
|
953
|
1.17
|
[1]
|
1,072
|
1.52
|
0.09
|
0.15
|
0.08
|
W1
|
Ag-Pb
|
ZKX0732
|
122.10
|
139.03
|
550
|
16.93
|
16.16
|
112
|
2.00
|
0.13
|
0.09
|
0.79
|
LM7
|
Ag-Pb
|
ZKX0751
|
73.73
|
74.23
|
565
|
0.50
|
0.45
|
212
|
0.87
|
0.76
|
0.11
|
0.14
|
[2]
|
Ag-Pb
|
ZKX0751
|
82.29
|
102.32
|
557
|
20.03
|
19.32
|
162
|
1.38
|
0.11
|
0.09
|
1.00
|
LM7
|
Ag-Pb
|
ZKX0811
|
186.63
|
187.26
|
465
|
0.63
|
0.53
|
12
|
0.11
|
0.15
|
1.75
|
0.01
|
LM55
|
Au
|
ZKX0945
|
80.54
|
81.56
|
878
|
1.02
|
0.93
|
418
|
0.48
|
0.18
|
0.05
|
0.04
|
LM13
|
Ag-Pb
|
ZKX0945
|
277.30
|
278.25
|
759
|
0.95
|
0.86
|
214
|
0.55
|
0.15
|
0.15
|
0.39
|
LM8
|
Ag-Pb
|
ZKX0957
|
137.43
|
138.67
|
795
|
1.24
|
0.95
|
338
|
0.86
|
0.17
|
1.29
|
0.03
|
LM50
|
Au
|
ZKX0959
|
67.91
|
68.34
|
872
|
0.43
|
0.21
|
5,680
|
1.07
|
0.52
|
0.04
|
5.91
|
LM8_2
|
Ag-Pb
|
ZKX0959
|
130.27
|
132.20
|
819
|
1.93
|
0.92
|
223
|
0.13
|
0.02
|
0.01
|
0.08
|
LM8_1
|
Ag-Pb
|
ZKX0959
|
156.85
|
159.70
|
797
|
2.85
|
1.36
|
129
|
0.78
|
0.20
|
0.77
|
0.09
|
LM50
|
Au
|
ZKX10813
|
106.36
|
107.60
|
866
|
1.24
|
1.20
|
358
|
3.40
|
0.72
|
0.33
|
0.02
|
LM8_4
|
Ag-Pb
|
ZKX10813
|
144.84
|
145.38
|
843
|
0.54
|
0.52
|
52
|
5.68
|
0.50
|
0.03
|
0.05
|
LM8_4a
|
Ag-Pb
|
ZKX10825
|
138.34
|
139.46
|
843
|
1.12
|
1.08
|
13
|
0.02
|
0.01
|
2.42
|
0.01
|
LM50
|
Au
|
ZKX10827
|
112.51
|
114.55
|
846
|
2.04
|
1.87
|
147
|
0.75
|
0.06
|
0.91
|
0.04
|
LM50
|
Au
|
ZKX1115
|
24.96
|
25.58
|
909
|
0.62
|
0.47
|
502
|
0.11
|
0.28
|
0.03
|
0.04
|
LM12
|
Ag-Pb
|
ZKX11210
|
133.80
|
134.99
|
836
|
1.19
|
0.70
|
6
|
0.01
|
0.02
|
2.32
|
0.00
|
LM50
|
Ag-Pb
|
ZKX11210
|
165.56
|
166.80
|
814
|
1.24
|
0.73
|
147
|
0.01
|
0.01
|
0.03
|
0.02
|
LM8W
|
Ag-Pb
|
ZKX11210
|
337.53
|
338.50
|
697
|
0.97
|
0.59
|
129
|
0.32
|
0.15
|
0.01
|
0.07
|
LM8_3W
|
Ag-Pb
|
ZKX11210
|
428.51
|
429.13
|
636
|
0.62
|
0.38
|
100
|
11.56
|
1.77
|
0.09
|
0.42
|
LM8_3
|
Ag-Pb
|
ZKX11210
|
512.78
|
513.57
|
579
|
0.79
|
0.48
|
261
|
3.72
|
0.55
|
0.09
|
0.08
|
LM8_4
|
Ag-Pb
|
ZKX11307
|
173.57
|
174.36
|
863
|
0.79
|
0.56
|
171
|
0.91
|
0.04
|
0.03
|
0.02
|
LM17W1
|
Ag-Pb
|
ZKX3811
|
90.89
|
93.11
|
921
|
2.22
|
1.85
|
512
|
0.48
|
0.1
|
0.01
|
0.24
|
LM16W1
|
Ag-Pb
|
ZKX3811
|
338.84
|
344.0
|
706
|
5.16
|
4.97
|
388
|
1.95
|
0.09
|
0.04
|
0.08
|
LM17
|
Ag-Pb
|
Including
|
340.77
|
342.89
|
705
|
1.80
|
0.99
|
833
|
3.11
|
0.10
|
0.06
|
0.19
|
LM17
|
Ag-Pb
|
ZKX4210
|
247.01
|
247.76
|
801
|
0.75
|
0.51
|
74
|
8.19
|
0.18
|
0.03
|
0.02
|
LM17
|
Ag-Pb
|
ZKX6403
|
42.08
|
42.49
|
1,010
|
0.41
|
0.37
|
29
|
0.02
|
0.04
|
0.01
|
3.03
|
LM17
|
Ag-Pb
|
ZKX6403
|
261.10
|
261.33
|
863
|
0.23
|
0.22
|
167
|
0.62
|
0.11
|
18.90
|
0.28
|
LMW8
|
Ag-Pb
|
[1] True width not
determined
|
[2] New veins with no
name assigned.
|
Table 2: Selected mineralized zones exposed by
drift tunnelling at the LMW mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
Ore Length
(m)
|
True Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
g/t)
|
Cu
(%)
|
SJ969-LM7-550-9ECM
[1]
|
LM7
|
550
|
|
13.57
|
72
|
2.02
|
0.09
|
0.04
|
0.56
|
XPDS-LM14-575-26SYM
|
LM14
|
575
|
10
|
0.45
|
38
|
1.63
|
0.73
|
0.02
|
0.06
|
XPDS-LM14-525-115NYM
|
LM14
|
525
|
45
|
0.66
|
675
|
1.33
|
0.19
|
0.02
|
0.62
|
XPDS-LM16-695-109TJ-SYM
|
LM16
|
675
|
42
|
0.65
|
584
|
2.56
|
0.34
|
0.02
|
0.45
|
XPDN-LM17-800-9SYM
|
LM17
|
800
|
15
|
1.38
|
1,460
|
11.36
|
0.87
|
0.02
|
0.22
|
XPDN-LM17-750-7NYM
|
LM17
|
750
|
40
|
0.72
|
517
|
6.50
|
0.38
|
0.02
|
0.10
|
XPDS-LM17-625-28SYM
|
LM17
|
625
|
10
|
0.65
|
194
|
1.56
|
0.82
|
0.02
|
0.06
|
XPDS-LM17-575-26SYM
|
LM17
|
575
|
40
|
1.54
|
708
|
4.57
|
0.40
|
0.26
|
0.47
|
PD1080-LM41E-1080-11SYM
|
LM41E
|
1080
|
10
|
0.49
|
1,017
|
0.63
|
0.21
|
0.02
|
0.55
|
PD990-LM41E-990-9NYM
|
LM41E
|
990
|
15
|
0.27
|
96
|
1.04
|
0.74
|
0.02
|
0.04
|
PD990-LM41E-990-9SYM
|
LM41E
|
990
|
50
|
0.37
|
287
|
2.87
|
0.58
|
0.02
|
0.05
|
PD924-LM41E-924-3NYM
|
LM41E
|
924
|
10
|
0.50
|
198
|
1.23
|
0.26
|
0.02
|
0.07
|
PD918-W1-918-4SYM
|
W1
|
918
|
15
|
0.85
|
1,561
|
4.31
|
0.62
|
0.02
|
0.45
|
PD918-W1-880-8NYM
|
W1
|
880
|
45
|
0.81
|
280
|
2.61
|
0.18
|
0.02
|
0.08
|
PD918-W18-880-140SYM
|
W18
|
880
|
30
|
0.44
|
35
|
3.03
|
0.05
|
0.02
|
0.01
|
PD918-W18-880-140NYM
|
W18
|
880
|
65
|
0.46
|
108
|
6.22
|
0.33
|
0.02
|
0.01
|
PD918-W6-880-128NYM
|
W6
|
880
|
45
|
0.62
|
121
|
5.11
|
0.59
|
0.02
|
0.02
|
PD918-W6E1-880-138NYM
|
W6E1
|
880
|
20
|
0.59
|
236
|
2.75
|
0.25
|
0.02
|
0.02
|
PD918-W6E1-880-138SYM
|
W6E1
|
880
|
15
|
0.51
|
181
|
4.82
|
1.04
|
0.02
|
0.05
|
PD924-W6E1-834-132SYM
|
W6E1
|
834
|
10
|
0.43
|
270
|
5.37
|
1.75
|
0.02
|
0.06
|
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, 226km northeast of
Beijing, the Zhengzhou Nonferrous
Exploration Institute Lab in Zhengzhou, Henan
Province, China, and
SGS-CSTC Standards Technical Services (Tianjin) Co., Ltd., Tianjin, China. All the three labs are ISO9000
certified analytical labs. For analysis, the sample is
dried and crushed to minus 1mm 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 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
1.0 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, and 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 news
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;
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". 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 news 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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