Silvercorp Metals Inc. ("Silvercorp" or the
“Company”) is pleased to report that a drill program targeting gold
(“Au”) mineralization is underway at the LMW, LME and TLP mines
within the Ying Mining District, Henan Province, China.
Silvercorp has previously reported limited gold
assay results in news releases dated January 4, 2011, January 10,
2011, January 26, 2012, February 13, 2012, August 20, 2012, January
31, 2013 and February 19, 2014 for the LMW, LME and TLP mines, but
as the focus was on mining silver-lead-zinc veins the
characterization of gold mineralization was poorly understood. As
such, many gold-bearing intercept results from drilling over the
years have never been released as they do not fit into any known
silver-lead-zinc veins that are mined by the Company.
Recent tunneling programs have exposed
gently-dipping quartz-ankerite-sulfide shear zones with high gold
and copper values, such as LM22 and LM26 at the LMW mine and LM4E2
at the LME mine. The photos below show the exposed LM22 structure
from the LMW mine of a massive quartz-ankerite-sulfide vein
composed of 19% Cu and 20 g/t Au over 0.3 metres (“m”) within a
silicification shear zone. This clearly shows that the
gold-mineralized, sub-horizontal, quartz-ankerite-sulfide shear
zones were cut and over-printed by the later stage sub-vertical
silver-lead-zinc veins that Silvercorp has been mining.
Figure 1 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/12645a9b-6567-4c24-8745-00588bbe568d
Figure 2 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f7ba998-65f3-46dc-adfe-a1e7e9215f6d
Initial sample results from these tunnels and
decline are listed in Table 1. LM22, from the decline at 805 m
elevation, extends 30 m long with a 0.43 m sample width and an
average grade of 13.95 g/t Au, 2.2% Cu and 26 g/t Ag. Vein LM26
also contains high copper and gold values.
Table 1: Au mineralized zones exposed by drift tunneling
at the LMW and LME mines
Mines |
Tunnel ID |
Target Vein |
Level (m) |
Length (m) |
Sample Width (m) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
Cu (%) |
|
LMW |
PD924-LM22-834-3SYM_Decline |
LM22 |
805 |
30.0 |
0.43 |
13.95 |
26 |
0.09 |
0.03 |
2.20 |
|
LMW |
PD924-LM22-834-3NYM |
LM22 |
834 |
15.0 |
0.30 |
4.35 |
19 |
0.03 |
0.02 |
3.85 |
|
LMW |
XPDN-LM26-650-3WYM |
LM26 |
650 |
10.0 |
0.46 |
1.52 |
207 |
0.99 |
0.34 |
0.79 |
|
With the discovery of the sub-horizontal nature
of gold-related shear zones, the Company has re-examined its
database for drill intercepts with gold grades in earlier drilling
programs. Table 2 lists the assay results of the drill holes with
gold values higher than 2.0 g/t that have not been released before.
Most of these gold carrying intercepts were not mined as many
tunnels advanced horizontally and did not hit these sub-horizontal
shear zones.
The intercepts from Table 2 are relatively
narrow, which is mostly due to selective sampling techniques as
current exploration in the Ying Mining District is targeting narrow
veins. Logging of the drill core shows much wider
quartz-ankerite-epidote-k-feldspar-biotite-sulfide alteration, but
only narrow samples were taken in most occasions.
From Table 2, sub-horizontal shear zone LM22 was
intercepted by three sub-vertical drill holes ZKX0308, ZKX0310 and
ZKX0309 near 840 m elevation. ZKX0308 has a sample width of 0.28 m
grading 22.65 g/t Au and 19.8% Cu, ZKX0310 has a sample width of
0.50 m grading 75.7 g/t Au and 0.35% Cu, and ZKX0309 has a sample
width of 0.28 m grading 63.5 g/t Au and 0.32% Cu. ZKX0309 also
intercepted multiple sub-horizontal shear zones, including LM26
with a sample width of 0.61 m grading 4.7 g/t Au at 662 m
elevation, and an unknown shear zone at 403 m elevation with a
sample width of 0.91 m grading 2.55 g/t Au.
LM26 was also intercepted by drill hole ZKX0306
at 625 m elevation with a sample width of 0.57 m grading 22.35 g/t
Au.
Highlights of selected drill hole interceptions
with higher Au values:
- Hole ZKX10505 has a sample width 0.51m from 397.94 m to 398.45
m, grading 25.42 g/t Au and 15 g/t Ag from LMW;
- Hole ZKL5033 has a sample width of 0.55m grading 29.5 g/t Au
from LME
- Hole ZK-Ⅲ-1124 has a sample width of 1.22 m grading 9.17 g/t
Au, 314 g/t Ag and 2.12% Pb from TLP;
- Hole ZKT05S35 has a sample width of 2.0 m grading 3.92 g/t Au,
2765 g/t Ag, 4.95% Pb and 0.88% Cu from TLP;
- Hole ZKT2901 has a sample width of 2.54 m grading 3.6 g/t Au,
266 g/t Ag, 8.55% Pb and 3.52% Cu from TLP.
Table 2: Selected drill holes with higher Au
values
Mine |
Hole ID |
From (m) |
To (m) |
Interval (m) |
Elevation (m) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
Cu (%) |
Vein |
Year |
Ag-Pb-Zn Released |
LMW |
ZKX10505 |
397.94 |
398.45 |
0.51 |
411 |
25.42 |
15 |
0.03 |
0.06 |
0.01 |
|
2019 |
|
LMW |
ZKX10508 |
174.83 |
175.70 |
0.87 |
545 |
2.22 |
5 |
0.02 |
0.01 |
0.00 |
|
2019 |
|
LMW |
ZKX10916 |
369.59 |
369.89 |
0.30 |
434 |
2.17 |
4 |
0.02 |
0.02 |
0.01 |
|
2019 |
|
LMW |
ZKX12004 |
28.50 |
29.22 |
0.72 |
886 |
4.96 |
4 |
0.02 |
0.01 |
1.93 |
|
2019 |
|
LMW |
ZKX117PA01 |
171.26 |
172.59 |
1.33 |
918 |
3.70 |
4 |
0.02 |
0.01 |
0.06 |
|
2017 |
|
LMW |
ZKX02Q01 |
189.37 |
190.10 |
0.73 |
787 |
3.71 |
351 |
2.62 |
1.32 |
2.56 |
|
2016 |
Released |
LMW |
ZKX0662 |
211.28 |
212.36 |
1.08 |
743 |
5.62 |
1 |
0.01 |
0.01 |
0.01 |
|
2016 |
|
LMW |
ZKX104S23 |
187.44 |
188.64 |
1.20 |
796 |
2.18 |
295 |
3.35 |
0.18 |
0.07 |
|
2013 |
Released |
LMW |
ZKX0604 |
155.71 |
155.88 |
0.17 |
864 |
4.45 |
27 |
0.05 |
0.11 |
1.97 |
|
2012 |
|
LMW |
ZKX1124 |
32.20 |
32.46 |
0.26 |
892 |
4.27 |
8 |
0.01 |
0.01 |
0.01 |
LM22 |
2012 |
|
LMW |
ZKX2201 |
209.23 |
210.33 |
1.10 |
805 |
4.06 |
3 |
0.01 |
0.01 |
0.01 |
|
2012 |
|
LMW |
ZKX0001 |
306.98 |
307.28 |
0.30 |
759 |
4.54 |
3 |
0.01 |
0.01 |
0.01 |
|
2011 |
|
LMW |
ZKX0001 |
332.55 |
333.42 |
0.87 |
745 |
4.04 |
4 |
0.01 |
0.01 |
0.32 |
|
2011 |
|
LMW |
ZKX0003 |
542.20 |
542.40 |
0.20 |
512 |
2.89 |
34 |
0.07 |
0.02 |
1.84 |
|
2011 |
|
LMW |
ZKX0004 |
617.55 |
618.21 |
0.66 |
399 |
8.84 |
1206 |
5.60 |
1.65 |
0.48 |
|
2011 |
|
LMW |
ZKX0404 |
31.79 |
33.22 |
1.43 |
907 |
3.06 |
9 |
0.03 |
0.03 |
0.01 |
|
2011 |
|
LMW |
ZKX0405 |
286.09 |
286.39 |
0.30 |
734 |
19.70 |
4 |
0.01 |
0.03 |
0.33 |
|
2011 |
|
LMW |
ZKX0406 |
256.04 |
256.24 |
0.20 |
726 |
135.00 |
27 |
0.01 |
0.07 |
4.28 |
|
2011 |
|
LMW |
ZKX10604 |
334.52 |
335.12 |
0.60 |
811 |
21.60 |
81 |
0.56 |
0.31 |
0.01 |
|
2011 |
|
LMW |
ZKX10606 |
149.78 |
150.82 |
1.04 |
851 |
5.59 |
6 |
0.05 |
0.03 |
0.01 |
LM22 |
2011 |
|
LMW |
ZKX10607 |
140.97 |
141.58 |
0.61 |
848 |
3.95 |
25 |
0.53 |
0.88 |
0.02 |
|
2011 |
|
LMW |
ZKX0305 |
341.77 |
342.10 |
0.33 |
689 |
10.23 |
12 |
0.12 |
0.05 |
0.08 |
|
2010 |
|
LMW |
ZKX0306 |
368.90 |
369.47 |
0.57 |
625 |
22.35 |
8 |
0.04 |
0.01 |
0.05 |
LM26 |
2010 |
|
LMW |
ZKX0307 |
150.43 |
150.71 |
0.28 |
786 |
3.55 |
23 |
0.04 |
0.02 |
2.62 |
|
2010 |
|
LMW |
ZKX0308 |
79.66 |
79.94 |
0.28 |
843 |
22.65 |
141 |
0.17 |
0.14 |
19.80 |
LM22 |
2010 |
|
LMW |
ZKX0308 |
194.30 |
194.44 |
0.14 |
735 |
3.98 |
22 |
0.31 |
0.02 |
0.80 |
|
2010 |
|
LMW |
ZKX0309 |
80.10 |
80.32 |
0.22 |
841 |
63.50 |
8 |
0.09 |
0.07 |
0.32 |
LM22 |
2010 |
|
LMW |
ZKX0309 |
264.95 |
265.56 |
0.61 |
662 |
4.70 |
3 |
0.01 |
0.02 |
0.12 |
LM26 |
2010 |
|
LMW |
ZKX0309 |
402.95 |
403.89 |
0.94 |
403 |
2.55 |
3 |
0.03 |
0.01 |
0.05 |
|
2010 |
|
LMW |
ZKX0310 |
84.37 |
84.87 |
0.50 |
834 |
75.74 |
6 |
0.02 |
0.01 |
0.35 |
LM22 |
2010 |
|
LME |
ZKL54T1701 |
393.93 |
397.47 |
3.54 |
520 |
2.54 |
31 |
0.64 |
0.61 |
0.00 |
LM4E2 |
2019 |
|
LME |
ZKL58T1703 |
363.71 |
364.70 |
0.99 |
547 |
4.94 |
43 |
0.50 |
0.71 |
0.01 |
LM4E2 |
2019 |
|
LME |
ZKL6712 |
153.05 |
153.64 |
0.59 |
728 |
7.30 |
19 |
1.93 |
0.02 |
0.02 |
LM4E2 |
2019 |
|
LME |
ZKL7605 |
672.22 |
672.83 |
0.61 |
214 |
3.99 |
5 |
0.02 |
0.02 |
0.00 |
|
2019 |
|
LME |
ZKL5033 |
454.22 |
454.77 |
0.55 |
64 |
29.50 |
15 |
0.03 |
0.03 |
0.01 |
|
2017 |
|
LME |
ZKL5337 |
297.77 |
298.22 |
0.45 |
239 |
3.01 |
315 |
0.58 |
0.43 |
0.04 |
|
2017 |
Released |
LME |
ZKL5337 |
300.94 |
301.54 |
0.60 |
236 |
2.12 |
4229 |
19.76 |
0.96 |
0.15 |
|
2017 |
Released |
LME |
ZKL53A21 |
91.96 |
92.68 |
0.72 |
522 |
2.35 |
5 |
0.16 |
0.02 |
0.02 |
|
2017 |
|
LME |
ZKL5421 |
303.48 |
304.39 |
0.91 |
283 |
2.63 |
50 |
0.79 |
0.38 |
0.02 |
|
2017 |
|
LME |
ZKL5421 |
358.91 |
359.18 |
0.27 |
245 |
3.51 |
5 |
0.03 |
0.07 |
0.02 |
|
2017 |
|
LME |
ZKL5422 |
392.93 |
393.25 |
0.32 |
160 |
2.69 |
154 |
4.08 |
2.95 |
0.27 |
|
2017 |
Released |
LME |
ZKL5422 |
424.88 |
426.14 |
1.26 |
132 |
2.72 |
182 |
9.08 |
1.79 |
0.14 |
|
2017 |
Released |
LME |
ZKL5422 |
428.12 |
428.68 |
0.56 |
130 |
2.64 |
197 |
0.70 |
0.19 |
0.20 |
|
2017 |
|
LME |
ZKL5423 |
497.66 |
498.30 |
0.64 |
38 |
3.77 |
194 |
1.36 |
1.46 |
0.07 |
|
2017 |
|
LME |
ZKL55A21 |
62.38 |
63.13 |
0.75 |
530 |
2.11 |
89 |
0.43 |
0.60 |
0.21 |
|
2017 |
|
LME |
ZKL58S19 |
237.49 |
237.69 |
0.20 |
374 |
3.70 |
73 |
0.77 |
0.15 |
0.01 |
|
2017 |
|
LMF |
ZKL7005 |
400.30 |
400.77 |
0.47 |
272 |
2.81 |
5 |
0.06 |
0.12 |
0.01 |
|
2017 |
|
LME |
ZKL5144 |
486.69 |
487.18 |
0.49 |
518 |
2.31 |
5 |
0.03 |
0.09 |
0.01 |
|
2016 |
|
LME |
ZKL7004 |
330.85 |
331.33 |
0.48 |
350 |
7.45 |
1821 |
2.54 |
0.34 |
0.08 |
|
2016 |
|
LME |
ZKL5342 |
67.16 |
68.51 |
1.35 |
543 |
2.98 |
4 |
0.05 |
0.03 |
0.01 |
LM4E2 |
2015 |
|
LME |
ZKL58S17 |
226.24 |
226.79 |
0.55 |
397 |
3.04 |
338 |
0.74 |
0.48 |
0.06 |
|
2015 |
|
LME |
ZKL58S17 |
233.02 |
233.85 |
0.83 |
391 |
3.81 |
185 |
3.23 |
0.93 |
0.02 |
|
2015 |
|
LME |
ZK160401 |
105.51 |
105.77 |
0.26 |
1106 |
2.33 |
1 |
0.00 |
0.00 |
0.00 |
|
2011 |
|
LME |
ZKL5305 |
297.25 |
297.87 |
0.62 |
567 |
2.78 |
10 |
0.47 |
0.26 |
0.01 |
LM4E2 |
2010 |
|
LME |
ZKL5305 |
328.50 |
328.66 |
0.16 |
538 |
10.56 |
3 |
0.05 |
0.01 |
0.02 |
|
2010 |
|
LME |
ZKL5305 |
384.54 |
384.93 |
0.39 |
486 |
3.56 |
5 |
0.08 |
0.01 |
0.01 |
|
2010 |
|
LME |
ZKL6103 |
252.51 |
253.94 |
1.43 |
597 |
3.43 |
25 |
0.13 |
0.18 |
0.01 |
LM4E2 |
2010 |
|
LME |
ZKL6703 |
256.77 |
257.37 |
0.60 |
598 |
2.08 |
2 |
0.01 |
0.02 |
0.01 |
|
2010 |
|
LME |
ZKL6902 |
285.56 |
286.73 |
1.17 |
566 |
2.28 |
37 |
0.19 |
0.17 |
0.02 |
|
2010 |
|
LME |
ZKL6903 |
276.81 |
278.10 |
1.29 |
587 |
2.46 |
13 |
0.14 |
0.10 |
0.01 |
|
2010 |
|
TLP |
ZKG0527 |
537.22 |
537.63 |
0.41 |
195 |
2.02 |
6 |
0.27 |
0.02 |
0.01 |
|
2019 |
|
TLP |
ZKG0934 |
336.58 |
337.70 |
1.12 |
541 |
4.41 |
9 |
0.10 |
0.14 |
0.00 |
|
2017 |
|
TLP |
ZKTA2402 |
162.26 |
164.52 |
2.26 |
894 |
2.87 |
7 |
0.03 |
0.06 |
0.01 |
|
2016 |
|
TLP |
ZK-Ⅲ-1124 |
281.07 |
282.29 |
1.22 |
497 |
9.17 |
314 |
2.12 |
0.33 |
0.04 |
|
2014 |
|
TLP |
ZKX10607 |
140.97 |
141.58 |
0.61 |
848 |
3.95 |
25 |
0.53 |
0.88 |
0.02 |
|
2014 |
|
TLP |
ZK-Ⅲ-2510 |
429.20 |
430.10 |
0.90 |
404 |
2.32 |
331 |
10.02 |
1.32 |
0.51 |
|
2013 |
Released |
TLP |
ZKG0404 |
304.94 |
305.90 |
0.96 |
553 |
4.30 |
1761 |
9.45 |
1.56 |
0.13 |
|
2012 |
Released |
TLP |
ZKG1401 |
75.47 |
76.19 |
0.72 |
802 |
3.48 |
71 |
0.09 |
0.05 |
0.01 |
|
2011 |
|
TLP |
ZKT05S35 |
188.02 |
190.02 |
2.00 |
733 |
3.92 |
2765 |
4.95 |
0.80 |
0.88 |
|
2011 |
|
TLP |
ZKT11S31 |
61.46 |
62.00 |
0.54 |
888 |
2.29 |
75 |
1.95 |
0.39 |
0.05 |
|
2011 |
|
TLP |
ZKT13S31 |
112.87 |
113.77 |
0.90 |
867 |
4.27 |
6 |
0.02 |
0.03 |
0.01 |
|
2011 |
|
TLP |
ZKT0701 |
84.04 |
84.36 |
0.32 |
714 |
2.46 |
1149 |
7.15 |
2.22 |
0.15 |
|
2010 |
|
TLP |
ZKT0701 |
98.29 |
98.55 |
0.26 |
706 |
3.46 |
77 |
2.77 |
0.45 |
0.73 |
|
2010 |
|
TLP |
ZKT0904 |
119.08 |
119.69 |
0.61 |
643 |
3.05 |
198 |
0.36 |
0.50 |
0.03 |
|
2010 |
|
TLP |
ZKT09S32 |
222.00 |
222.73 |
0.73 |
682 |
2.09 |
167 |
1.99 |
0.70 |
0.55 |
|
2010 |
|
TLP |
ZKT1301 |
145.63 |
145.94 |
0.31 |
666 |
2.70 |
249 |
7.02 |
1.47 |
2.22 |
|
2010 |
|
TLP |
ZKT13S1 |
44.90 |
45.18 |
0.28 |
738 |
3.04 |
711 |
3.00 |
0.19 |
3.52 |
|
2010 |
|
TLP |
ZKT2105 |
291.86 |
293.52 |
1.66 |
463 |
3.05 |
22 |
0.08 |
0.09 |
0.03 |
|
2010 |
|
TLP |
ZKT21S4 |
43.70 |
44.25 |
0.55 |
772 |
7.62 |
478 |
2.98 |
0.15 |
6.54 |
|
2010 |
|
TLP |
ZKT31S1 |
63.73 |
64.03 |
0.30 |
762 |
4.28 |
146 |
24.24 |
0.12 |
0.16 |
|
2010 |
|
TLP |
ZKT2901 |
180.72 |
183.26 |
2.54 |
638 |
3.60 |
266 |
8.55 |
0.63 |
3.52 |
|
2009 |
|
TLP |
ZKT2904 |
238.00 |
239.64 |
1.64 |
525 |
3.83 |
110 |
0.60 |
0.15 |
1.58 |
|
2009 |
|
TLP |
ZKT33S22 |
59.16 |
60.73 |
1.57 |
707 |
2.95 |
4 |
0.23 |
0.01 |
0.11 |
|
2009 |
|
TLP |
ZK0601 |
361.12 |
361.48 |
0.36 |
636 |
2.75 |
256 |
0.71 |
4.28 |
0.10 |
|
2008 |
|
Currently, the historical drill cores are being
re-logged and sampled for the alteration zones not previously
sampled and assayed. Meanwhile, the Company will focus its ongoing
drilling program to target gold bearing zones intercepted by the
above drill holes with a total of ten drill rigs at the LMW, TLP
and LME mines (three underground rigs and two surface rigs for LMW,
three underground rigs for TLP, and two underground rigs for LME)
with the intention of continuous sampling of all alteration zones
to test for the existence of broad gold mineralization zones.
Quality ControlDrill cores are
NQ size. Drill core samples, limited by apparent mineralization
contact or shear/alteration contact, were split into halves by saw
cutting. The half cores are stored in the Company's core shacks for
future reference and checking, and the other half core samples are
shipped in security-sealed bags to the Chengde Huakan 514 Geology
and Minerals Test and Research Institute in Chengde, Hebei
Province, China, 226 km northeast of Beijing, and the Zhengzhou
Nonferrous Exploration Institute Lab in Zhengzhou, Henan Province,
China. Both 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 with 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 lab batch of 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 about 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 ShaverVice PresidentSilvercorp Metals
Inc.
Phone: (604) 669-9397Toll Free: 1(888)
224-1881Email: investor@silvercorp.ca 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, risks relating to:
social and economic impacts of COVID-19; fluctuating commodity
prices; calculation of resources, reserves and mineralization and
precious and base metal recovery; interpretations and assumptions
of mineral resource and mineral reserve estimates; exploration and
development programs; feasibility and engineering reports; permits
and licenses; title to properties; property interests; joint
venture partners; acquisition of commercially mineable mineral
rights; financing; recent market events and conditions; economic
factors affecting the Company; timing, estimated amount, capital
and operating expenditures and economic returns of future
production; integration of future acquisitions into the Company’s
existing operations; competition; operations and political
conditions; regulatory environment in China and Canada;
environmental risks; foreign exchange rate fluctuations; insurance;
risks and hazards of mining operations; key personnel; conflicts of
interest; dependence on management; internal control over financial
reporting as per the requirements of the Sarbanes-Oxley Act; and
bringing actions and enforcing judgments under U.S. securities
laws.
This list is not exhaustive of the factors that
may affect any of the Company’s forward-looking statements or
information. Forward-looking statements or information are
statements about the future and are inherently uncertain, and
actual achievements of the Company or other future events or
conditions may differ materially from those reflected in the
forward-looking statements or information due to a variety of
risks, uncertainties and other factors, including, without
limitation, those referred to in the Company’s most recent 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 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.
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