Silvercorp Metals Inc. ("Silvercorp” or the “Company”) (TSX/NYSE
American: SVM) is pleased to report the results of its 2018-2019
exploration programs at the TLP and LME mines, Ying Mining
District, Henan Province, China. Exploration drilling is
ongoing at the TLP and LME mines, and all other mines at the Ying
Mining District.
From April 1, 2018 to September 30, 2019,
Silvercorp continued the extensive exploration programs at the TLP
and LME mines and completed 37,212 metres (“m”) of diamond drilling
with six underground rigs from current production levels, and
33,004m of exploration tunneling between elevation levels 500m and
1,070m. Results from the drilling program extended the major
mineralized vein structures along strike and downdip, and
exploration tunneling exposed high grade mineralized zones within
major production vein structures. Eight new mineralized veins
were discovered in the TLP mine during this period. Among
them, veins T31W3, T26, T26E, T39E, T39E2 and T17E indicate the
increasing importance of the NNW and NS striking veins. The
drilling results from veins LM5, LM5E and LM4 at the LME mine
extended the high-grade mineralized zones to at least the 260m
level.
Highlights of selected mineralized zones exposed
in the drift tunnels:
- Drift Tunnel PD890-T5E1_1-890-31NYM exposed mineralization 15m
long and 0.44m wide (true width) grading 1,784 grams per tonne
(“g/t”) silver (“Ag”), 9.55% lead (“Pb”) and 0.81% zinc (“Zn”)
within vein structure T31W3 on the 890m level at the TLP
mine;
- Drift Tunnel PD1050-T26-1050-A4NYM exposed mineralization 25m
long and 1.11m wide (true width) grading 716 g/t Ag, 9.05% Pb and
0.13% Zn within vein structure T26 on the 1050m level at the TLP
mine;
- Drift Tunnel PD930-T14E-930-A0SYM exposed mineralization 60m
long and 1.66m wide (true width) grading 430 g/t Ag, 5.05% Pb and
0.39% Zn within vein structure T14E on the 930m level at the TLP
mine;
- Drift Tunnel PD820-T16-600-1SYM exposed mineralization 80m long
and 1.04m wide (true width) grading 719 g/t Ag, 5.19% Pb and 0.92%
Zn within vein structure T16 on the 600m level at the TLP mine;
and
- Drift Tunnel PD900-LM18E1-915-52NYM exposed mineralization 60m
long and 0.47m wide (true width) grading 1,469 g/t Ag, 2.38% Pb and
0.28% Zn within vein structure LM18E1 on the 915m level at the LME
mine.
The exploration tunneling from April 1, 2018 to
September 30, 2019 at the TLP and LME mines, comprising drifting,
crosscutting 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, and is
summarized in the following table:
Mine |
Major Target Veins |
TargetLevels (m) |
Total Tunneling (m) |
ChannelSamples Collected |
Drift Included (m) |
Total Mineralization Exposed by Drift [1] |
Length (m) |
Average TrueWidth (m) |
Ag (g/t) |
Pb (%) |
Zn (%) |
TLP |
T1W, T1W1, T5, T11, T14E, T15W, T16, T16W, T17, T17E, T17W, T26,
T26E, T31W3, T33E, T35E, T39E |
510-1070 |
28,648 |
10,982 |
14,404 |
6,903 |
0.65 |
241 |
3.64 |
0.41 |
LME |
LM4E2, LM5, LM5E, LM6,
LM6W, LM18E1 |
500-1070 |
4,356 |
1,402 |
2,092 |
754 |
0.61 |
282 |
2.11 |
0.38 |
[1] Mineralization is defined by silver
equivalent value (AgEq) greater than or equal to 120 g/t at the TLP
mine and 125 g/t at the LME mine. (Formulae used for AgEq
calculation: TLP=36.75*Pb%+Ag g/t; LME=39.019*Pb%+Ag g/t)
Highlights of selected drill hole
intersections:
- Hole ZKT0641 intersected a 2.73m interval from 2.12m to 4.85m,
2.00m true width, of vein T3E grading 841 g/t Ag, 0.67% Pb and
0.20% Zn at the 1079m elevation at the TLP mine;
- Hole ZKL7602 intersected a 3.82m interval from 263.75m to
267.57m, 2.71m true width, of vein LM6W grading 491 g/t Ag, 0.78%
Pb and 0.16% Zn at the 601m elevation at the TLP mine;
- Hole ZKX11071 intersected a 1.01m interval from 296.36m to
297.37m, 0.82m true width, of vein T2 grading 471 g/t Ag, 2.84% Pb
and 0.33% Zn at the 560m elevation, and a 1.19m interval from
317.55m to 318.74m, 0.97m true width, of vein T3 grading 931 g/t
Ag, 0.47% Pb and 0.06% Zn at the 546m elevation at the TLP mine;
and
- Hole ZKL6105 intersected a 0.79m interval from 113.98m to
114.77m, 0.53m true width, of vein LM4 grading 2,174 g/t Ag, 0.95%
Pb and 0.25% Zn at the 497m elevation, and a 0.45m interval from
289.80m to 290.25m, 0.32m true width, of vein LM5 grading 2,217 g/t
Ag, 2.90% Pb and 0.91% Zn at the 333m elevation at the LME
mine.
The underground drilling program is conducted
mainly from the current production levels to delineate the downdip
and along-strike extensions of known mineralized vein structures in
the production area and test for new vein structures in the
previously less explored areas.
The drilling programs from April 1, 2018 to
September 30, 2019 at the TLP and LME mines are summarized in the
following table:
Mine |
Major Target Veins |
TargetElevation(m) |
MetresDrilled (m) |
Holes Completed |
SamplesCollected |
HolesInterceptedVein Structures |
HolesInterceptedore |
TLP |
T2, T2W, T3, T3E, T5,
T5E, T5E2, T11, T14E, T15W, T16E, T22, LM5, LM6, LM6W |
214-1,111 |
25,170 |
92 |
1,676 |
86 |
39 |
LME |
LM4, LM5, LM5E, LM5E1,
LM6E, LM6E1, T11, T17, T17E, T17E1, T17W1 |
270-1,000 |
12,041 |
34 |
852 |
32 |
17 |
|
|
|
|
|
|
|
|
Tables 1 and 2 below list the assay results of
certain mineralized zones exposed in drift tunnels and selected
mineralized drill hole intersections from the exploration
programs.
Table 1: Selected mineralized zones
exposed by drift tunneling at the TLP and LME mines
Mine |
Tunnel ID |
Target |
Level |
Length |
True Width(m) |
Ag |
Pb |
Zn |
Vein |
(m) |
(m) |
(g/t) |
(%) |
(%) |
TLP |
PD820-T11-700-4NYM |
T11 |
700 |
120.0 |
0.78 |
317 |
5.09 |
0.57 |
TLP |
PD820-T11-600-1SYM |
T11 |
600 |
90.0 |
1.21 |
236 |
7.70 |
0.76 |
TLP |
PD930-T14E-930-A0SYM |
T14E |
930 |
60.0 |
1.66 |
430 |
5.05 |
0.39 |
TLP |
PD890-T14E-890-21SYM |
T14E |
890 |
125.0 |
0.83 |
444 |
3.31 |
0.40 |
TLP |
PD820-T14E-755-3SYM |
T14E |
755 |
20.0 |
0.67 |
103 |
8.99 |
0.16 |
TLP |
PD820-T15W-650-4SYM |
T15W |
650 |
35.0 |
0.57 |
191 |
6.77 |
0.44 |
TLP |
PD820-T15W-650-4NYM |
T15W |
650 |
80.0 |
1.01 |
175 |
10.18 |
0.33 |
TLP |
PD846-T16E-846-7NYM |
T16 |
846 |
35.0 |
1.10 |
695 |
1.23 |
0.37 |
TLP |
PD820XPD-T16W-755-23SYM |
T16 |
755 |
35.0 |
0.39 |
669 |
1.81 |
2.31 |
TLP |
PD820-T16-700-12SYM |
T16 |
700 |
45.0 |
0.57 |
679 |
3.84 |
1.03 |
TLP |
PD820XPD-T16-700-15NYM |
T16 |
700 |
60.0 |
0.41 |
785 |
2.12 |
2.61 |
TLP |
PD820-T16-600-1SYM |
T16 |
600 |
80.0 |
1.04 |
719 |
5.19 |
0.92 |
TLP |
PD846-T16W-846-12SYM |
T16W |
846 |
105.0 |
0.42 |
972 |
1.25 |
0.72 |
TLP |
PD820-T17W-700-14SYM |
T16W |
700 |
41.0 |
0.77 |
279 |
4.12 |
0.37 |
TLP |
PD846-T17-846-16NYM |
T17 |
846 |
125.0 |
0.49 |
353 |
3.17 |
0.47 |
TLP |
PD846-T17-846-16SYM |
T17 |
846 |
117.5 |
0.80 |
321 |
3.40 |
0.83 |
TLP |
PD820-T17-700-14NYM |
T17 |
700 |
35.0 |
1.03 |
375 |
4.29 |
0.39 |
TLP |
PD820-T17-700-14SYM |
T17 |
700 |
24.0 |
0.51 |
288 |
5.06 |
0.10 |
TLP |
PD846-T17E-846-16NYM |
T17E [1] |
846 |
55.0 |
0.52 |
412 |
5.19 |
0.46 |
TLP |
PD820-T17-650-4SYM |
T17W |
650 |
70.0 |
0.68 |
608 |
1.90 |
0.93 |
TLP |
PD820-T17W-600-1NYM |
T17W |
600 |
15.0 |
0.46 |
976 |
4.49 |
0.37 |
TLP |
PD960-T1W-990-4NYM |
T1W |
990 |
35.0 |
0.71 |
837 |
2.62 |
0.48 |
TLP |
PD1070-T1W1-1070-4SYM |
T1W1 |
1070 |
25.0 |
1.19 |
304 |
2.91 |
0.11 |
TLP |
PD1070-T22W-1070-6SYM |
T22W |
1070 |
30.0 |
0.49 |
501 |
2.31 |
0.07 |
TLP |
PD1050-T26-1050-A4NYM |
T26 [1] |
1050 |
25.0 |
1.11 |
716 |
9.05 |
0.13 |
TLP |
PD960-T26-990-A6NYM |
T26 [1] |
990 |
35.0 |
1.25 |
312 |
2.97 |
0.05 |
TLP |
PD840-T26E-840-1SYM |
T26E [1] |
840 |
20.3 |
0.52 |
302 |
5.50 |
0.09 |
TLP |
PD890-T5E1支-890-31NYM |
T31W3 [1] |
890 |
15.0 |
0.44 |
1,784 |
9.55 |
0.81 |
TLP |
PD730-T31W-730-A25NYM |
T31W3 [1] |
730 |
45.0 |
0.45 |
209 |
8.61 |
0.34 |
TLP |
PD730-T33E-560-23NYM |
T33E |
560 |
90.0 |
0.52 |
361 |
2.18 |
0.59 |
TLP |
PD960-T35E-960-5NYM |
T35E |
960 |
40.0 |
0.40 |
712 |
2.64 |
0.79 |
TLP |
PD820XPD-T39E-700-15SYM |
T39E [1] |
700 |
29.0 |
0.56 |
478 |
4.12 |
0.68 |
TLP |
PD820XPD-T39E2-755-27SYM |
T39E2 [1] |
755 |
110.0 |
0.52 |
340 |
5.09 |
2.02 |
TLP |
PD960-T5-990-11NYM |
T5 |
990 |
32.0 |
1.10 |
145 |
8.03 |
0.10 |
TLP |
PD840-T5E1-840-29NYM |
T5E1 |
840 |
60.0 |
0.52 |
395 |
2.45 |
0.55 |
TLP |
PD840-T5E1-840-29SYM |
T5E1 |
840 |
25.0 |
0.77 |
481 |
2.80 |
0.51 |
TLP |
PD1050-T5W-1050-5SYM |
T5W |
1050 |
35.0 |
0.60 |
274 |
4.84 |
0.08 |
TLP |
PD1050-T5W1-1050-5NYM |
T5W1 [1] |
1050 |
35.0 |
0.44 |
410 |
2.85 |
0.17 |
LME |
PD900-LM18E1-915-52NYM |
LM18E1 [1] |
915 |
60.0 |
0.47 |
1,469 |
2.38 |
0.28 |
LME |
PD900-LM18E1-915-52SYM |
LM18E1 [1] |
915 |
35.0 |
0.80 |
428 |
3.65 |
0.32 |
LME |
PD900-LM5-600-64NYM |
LM5 |
600 |
25.0 |
0.39 |
258 |
1.81 |
0.56 |
LME |
PD900-LM5-600-69SYM |
LM5 |
600 |
40.0 |
1.13 |
235 |
1.38 |
0.27 |
LME |
PD900-LM6W-650-70SYM |
LM6W |
650 |
40.0 |
0.48 |
335 |
1.12 |
0.36 |
[1] Veins discovered between April 30, 2018 and September 30,
2019
Table 2: Selected results from the drill
programs at the TLP and LME mines
Mine |
Hole ID |
From (m) |
To (m) |
Elevation(m) |
Width(m) |
TrueWidth (m) |
Ag (g/t) |
Pb (%) |
Zn (%) |
Vein |
TLP |
ZKT1331 |
321.18 |
321.98 |
723.19 |
0.80 |
0.69 |
437 |
2.16 |
0.17 |
T15W |
|
|
359.98 |
360.31 |
708.65 |
0.33 |
0.28 |
449 |
1.85 |
0.59 |
T11 |
TLP |
ZKX11674 |
387.97 |
388.40 |
458.67 |
0.43 |
0.34 |
18 |
5.52 |
0.49 |
T2 |
TLP |
ZKGA3201 |
206.00 |
206.40 |
766.52 |
0.40 |
0.36 |
593 |
0.16 |
0.36 |
T22 |
TLP |
ZKT1332 |
333.31 |
333.72 |
641.11 |
0.41 |
0.36 |
56 |
2.39 |
0.10 |
T15W |
|
|
360.77 |
361.99 |
626.24 |
1.22 |
1.06 |
99 |
10.89 |
0.28 |
T11 |
TLP |
ZKGA2801 |
267.80 |
268.93 |
757.27 |
1.13 |
1.09 |
414 |
1.61 |
0.35 |
T22 |
TLP |
ZKGA2401 |
155.08 |
155.48 |
735.18 |
0.40 |
0.39 |
112 |
5.32 |
0.14 |
T22-1 |
TLP |
ZKX11071 |
296.36 |
297.37 |
559.68 |
1.01 |
0.82 |
471 |
2.84 |
0.33 |
T2 |
|
|
317.55 |
318.74 |
545.71 |
1.19 |
0.97 |
931 |
0.47 |
0.06 |
T3 |
TLP |
ZKTA4011 |
140.81 |
143.32 |
921.34 |
2.51 |
1.46 |
230 |
6.99 |
1.51 |
T14E |
TLP |
ZKTA4012 |
95.11 |
98.29 |
772.65 |
3.18 |
1.84 |
115 |
13.04 |
0.33 |
T14E |
TLP |
ZKT0641 |
2.12 |
4.85 |
1,079.32 |
2.73 |
2.00 |
841 |
0.67 |
0.20 |
T3E |
|
|
161.21 |
161.82 |
1,054.43 |
0.61 |
0.42 |
291 |
1.58 |
0.28 |
T22E |
TLP |
ZKT1136 |
423.98 |
424.27 |
509.53 |
0.29 |
0.27 |
454 |
0.21 |
0.18 |
T11 |
TLP |
ZKT1042 |
6.20 |
8.16 |
1,074.50 |
1.96 |
1.71 |
142 |
0.68 |
0.05 |
T3E |
TLP |
ZKT0441 |
6.14 |
6.48 |
1,077.38 |
0.34 |
0.16 |
1,451 |
1.14 |
0.76 |
T3E |
|
|
152.27 |
152.96 |
1,034.66 |
0.69 |
0.33 |
360 |
0.59 |
0.10 |
T5 |
TLP |
ZKT0842 |
104.48 |
107.05 |
1,111.22 |
2.57 |
1.48 |
86 |
4.36 |
0.31 |
T5 |
TLP |
ZKT0940 |
90.61 |
92.15 |
780.69 |
1.54 |
1.30 |
124 |
0.42 |
0.10 |
T14E |
|
|
303.01 |
303.47 |
638.21 |
0.46 |
0.40 |
254 |
0.39 |
0.23 |
T14 |
TLP |
ZKL7602 |
263.75 |
267.57 |
601.25 |
3.82 |
2.71 |
491 |
0.78 |
0.16 |
LM6W |
|
|
269.42 |
272.65 |
596.47 |
3.23 |
2.29 |
180 |
0.45 |
0.11 |
LM6 |
|
|
517.68 |
519.11 |
389.15 |
1.43 |
1.02 |
119 |
1.38 |
0.33 |
LM5 |
|
|
572.14 |
572.84 |
343.87 |
0.70 |
0.50 |
251 |
2.28 |
0.70 |
LM5E1 |
|
|
576.89 |
577.23 |
339.92 |
0.34 |
0.24 |
601 |
0.92 |
0.52 |
LM5E2 |
TLP |
ZKT1043 |
88.79 |
90.49 |
1,057.12 |
1.70 |
1.15 |
59 |
6.16 |
0.46 |
T2W |
TLP |
ZKL7604 |
251.93 |
252.37 |
735.17 |
0.44 |
0.36 |
317 |
0.16 |
0.39 |
LM6 |
TLP |
ZKT2527 |
122.44 |
124.14 |
734.90 |
1.70 |
0.94 |
31 |
6.21 |
0.09 |
T33W3 [1] |
TLP |
ZKT0135 |
86.52 |
86.87 |
936.71 |
0.35 |
0.28 |
1,286 |
0.79 |
2.73 |
T16E |
TLP |
ZKT0135 |
118.13 |
118.84 |
929.60 |
0.71 |
0.58 |
541 |
1.19 |
0.28 |
T16E1 |
TLP |
ZKT0333 |
91.82 |
92.18 |
914.10 |
0.36 |
0.14 |
1,237 |
1.36 |
0.27 |
T16E |
TLP |
ZKT1633 |
63.12 |
63.96 |
929.89 |
0.84 |
0.83 |
133 |
5.54 |
0.74 |
T15W |
TLP |
ZKT1633 |
89.17 |
89.50 |
918.06 |
0.33 |
0.33 |
244 |
4.08 |
7.92 |
T15 |
TLP |
ZKT1632 |
223.96 |
224.31 |
987.46 |
0.35 |
0.33 |
290 |
1.70 |
4.00 |
T17 |
TLP |
ZKT1432 |
220.81 |
222.55 |
1,006.17 |
1.74 |
1.61 |
108 |
1.66 |
0.84 |
T17 |
TLP |
ZKG0123 |
85.25 |
85.57 |
617.24 |
0.32 |
0.30 |
229 |
8.41 |
0.26 |
T15W4 |
|
|
181.33 |
181.64 |
579.70 |
0.31 |
0.28 |
34 |
5.61 |
1.86 |
T16 |
|
|
263.97 |
264.60 |
547.41 |
0.63 |
0.58 |
73 |
25.13 |
0.48 |
T15W |
|
|
286.28 |
287.08 |
538.69 |
0.80 |
0.74 |
76 |
29.71 |
0.30 |
T11 |
TLP |
ZKT3724 |
308.40 |
308.85 |
533.74 |
0.45 |
0.34 |
32 |
13.66 |
0.14 |
T39 |
TLP |
ZKG0525 |
215.64 |
216.12 |
549.08 |
0.48 |
0.34 |
119 |
2.56 |
2.34 |
T16E |
|
|
273.20 |
273.89 |
522.05 |
0.69 |
0.54 |
11 |
6.93 |
0.21 |
T15W |
|
|
318.84 |
319.34 |
500.63 |
0.50 |
0.38 |
12 |
3.60 |
0.13 |
T14E |
LME |
ZKL3201 |
276.43 |
276.78 |
679.68 |
0.35 |
0.25 |
56 |
16.02 |
0.05 |
T11 |
LME |
ZKL6105 |
113.98 |
114.37 |
496.69 |
0.79 |
0.53 |
2,174 |
0.95 |
0.25 |
LM4 |
|
|
289.80 |
290.25 |
332.89 |
0.45 |
0.32 |
2,217 |
2.90 |
0.91 |
LM5 |
|
|
318.78 |
319.74 |
306.10 |
0.96 |
0.68 |
244 |
0.47 |
0.09 |
LM5E1 |
|
|
322.53 |
323.39 |
302.63 |
0.86 |
1.66 |
528 |
3.67 |
1.94 |
LM5E |
LME |
ZKL6502 |
94.94 |
95.98 |
536.89 |
1.04 |
1.25 |
217 |
1.95 |
0.26 |
LM4 |
|
|
197.35 |
197.72 |
467.63 |
0.37 |
1.09 |
452 |
0.77 |
0.73 |
LM5 |
|
|
234.74 |
235.44 |
442.66 |
0.70 |
0.62 |
721 |
1.12 |
1.28 |
LM5E |
LME |
ZKL6503 |
207.25 |
207.92 |
426.60 |
0.67 |
0.49 |
204 |
0.70 |
0.27 |
LM6E |
|
|
281.70 |
282.10 |
363.79 |
0.40 |
0.29 |
292 |
17.63 |
0.10 |
LM5E |
LME |
ZKL6302 |
96.87 |
97.19 |
520.94 |
0.32 |
0.26 |
506 |
2.93 |
0.16 |
LM4 |
LME |
ZKL5903 |
231.67 |
232.15 |
408.56 |
0.48 |
0.38 |
464 |
1.24 |
0.25 |
LM5 |
|
|
280.38 |
280.76 |
367.89 |
0.38 |
1.03 |
602 |
0.63 |
0.40 |
LM5E1 |
|
|
283.07 |
283.48 |
365.65 |
0.41 |
2.91 |
590 |
0.70 |
0.12 |
LM5E |
LME |
ZKL54S302 |
102.43 |
103.50 |
773.89 |
1.07 |
0.83 |
509 |
2.57 |
2.04 |
LM3_1 |
|
|
149.88 |
150.32 |
739.44 |
0.44 |
0.34 |
179 |
1.10 |
0.68 |
T17E1 |
|
|
158.85 |
159.70 |
732.90 |
0.85 |
0.65 |
2,019 |
1.74 |
0.58 |
T17E |
|
|
355.76 |
357.17 |
588.57 |
1.41 |
1.09 |
126 |
4.95 |
0.26 |
T17 |
|
|
369.28 |
369.58 |
578.68 |
0.30 |
0.23 |
374 |
3.88 |
0.97 |
T17W1 |
LME |
ZKL58T1701 |
292.69 |
293.61 |
636.37 |
0.92 |
0.67 |
2,246 |
6.59 |
2.70 |
LM3_1 |
|
|
302.55 |
303.00 |
629.14 |
0.45 |
0.33 |
22 |
5.46 |
0.60 |
LM4 |
LME |
ZKL58T1702 |
138.55 |
139.88 |
770.01 |
1.33 |
1.07 |
647 |
0.47 |
0.23 |
T17E |
|
|
314.73 |
315.88 |
661.05 |
1.15 |
0.90 |
120 |
3.05 |
0.36 |
T17 |
[1] Veins discovered between April 30, 2018 and September 30,
2019
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 the
Analytical Lab of the Inner Mongolia Geological Exploration Bureau
in Hohhot, Inner Mongolia, 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 200-300g
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 5m along
strike. Both the mineralized vein and the altered wall rocks
are cut by continuous chisel chipping. Sample length ranges
from 0.2m to more than 1m, 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 200g 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.
For further information
Lon Shaver Vice PresidentSilvercorp Metals
Inc.
Phone: (604) 669-9397Toll Free: 1(888)
224-1881Email: investor@silvercorp.ca Website:
www.silvercorpmetals.com
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, 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 for the year ended March 31, 2017 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.
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