Silvercorp Metals Inc. ("Silvercorp" or the “Company”) (TSX/NYSE
American: SVM) is pleased to report the discovery of new gold zones
and high grade intercepts from its 2020 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 2020 exploration program from July 1, 2019
to October 30, 2020 at the LMW mine has used in-fill drilling to
target areas of known sub-vertical silver-lead-zinc veins that were
previously believed to be uneconomic. Since June 2020, drilling has
also targeted the gently-dipping zones believed to host gold
mineralization, as reported in the May 28, 2020 news release. These
gold zones were previously undiscovered and appear to have been
over-printed by the sub-vertical silver-lead-zinc veins which are
the focus of current mining operations. Currently, ten
rigs are drilling at the LMW mine and a total of 132 diamond drill
holes, including 108 underground holes and 24 surface holes
totaling 37,869 metres (“m”) have been completed. Assay results for
125 holes have been received with 72 holes intercepting many zones
of higher-grade silver-lead mineralization, including veins LM7,
LM7W1, LM8, LM8_1, LM12_1, LM13, LM14, LM16, LM22, LM25W, LM41E,
LM41E1, and LM41E2. Most of these higher-grade silver-lead
discoveries can be mined through existing tunnels which is expected
to substantially reduce tunnel development costs at the LMW mine
going forward.
Drilling to test the gold-bearing sub-horizontal
shear zone LM22 has intersected high gold grades, including 37.08
g/t Au over 1.89m. In addition, at least three new gently-dipping
(to the west at less than 15°), stacked gold mineralization zones,
namely LM50, LM51 and LM53, have been discovered in this drill
campaign. The gold mineralization is associated with
k-feldspar-ankerite-quartz-pyrite-galena veinlets and stockwork
alteration. The most-drilled LM50 vein has been defined by drilling
and underground tunnelling over 450m along strike to the northeast
and 350m down-dip in a 25m to 50m grid pattern and true thicknesses
ranging from 0.5m to over 5.4m. Three rigs are drilling LM50 which
is open in all directions.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b26bc88-10c9-403e-a77f-76bdbb51a4ce
Highlights of selected drill hole
intersections:
-
Hole ZKX0535 intersected a 1.89m
interval (1.66m true width) of vein LM22 grading 37.08 grams per
tonne (“g/t”) gold (“Au”), 4 g/t silver (“Ag”), and 0.53% copper
(“Cu”), which includes a 1.25m interval (1.10m true width) grading
55.80 g/t Au, 5 g/t Ag, and 0.56% Cu.
-
Hole ZKX0723 intersected a 6.13m
interval (4.89m true width) of vein LM50 grading 5.23 g/t Au, 30
g/t Ag, 0.21% lead (“Pb”), and 0.12% zinc (“Zn”), which includes a
1.58m interval (1.34m true width) grading 12.70 g/t Au, 19 g/t Ag,
0.10% Pb, and 0.12% Zn.
- Hole
ZKX0527 intersected a 2.34m interval (2.22m true
width) of vein LM50 grading 8.51 g/t Au, and 16 g/t Ag, including a
1.22m interval (1.16m true width) grading 13.30 g/t Au, and 15 g/t
Ag.
- Hole
ZKX0725 intercepted a 2.45m interval grading 4.33 g/t Au
of an unknown vein, approximately 50m above the LM50 zone.
-
Hole ZKX0940 intersected a 1.63m
interval (1.46m true width) of vein LM8_1 grading 1,984 g/t Ag,
3.86% Pb, 0.60% Zn, 0.07 g/t Au, and 0.49% Cu, which includes a
1.08m interval (0.97m true width) grading 2,985 g/t Ag, 5.26% Pb,
0.87% Zn, 0.10 g/t Au, and 0.73% Cu.
-
Hole ZKX0934 intersected a 4.43m
interval (2.50m true width) of vein LM12_1 grading 343 g/t Ag,
6.21% Pb, 1.16% Zn, and 0.17 g/t Au, which includes two
intersections:
- A 1.24m
interval (0.70m true width) grading 339 g/t Ag, 7.72% Pb, 0.28% Zn,
and 0.17 g/t Au; and
- A 0.89m
interval (0.50m true width) grading 1,185 g/t Ag, 17.46% Pb, 4.84%
Zn, and 0.50 g/t Au.
- Hole
ZKX0118 intersected a 1.81m interval (1.29m true width) of
vein LM25W grading 1,715 g/t Ag, 1.53% Pb, 0.44% Zn, 0.44 g/t Au,
and 0.30% Cu.
In addition, a total of 8,684m of exploration
tunnels have been developed at the LMW mine during the period.
These exploration tunnels (including 4,750m 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 in the following table:
Major Target Veins |
Total
Tunnelling
(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 (%) |
LM19W2, T27E, LM14, LM16_1, LM16,LM17W, LM12_1, LM12E, LM22,
LM8_4a, LM32, LM8, LM41E, LM17 |
8,684 |
3,320 |
4,750 |
775 |
0.53 |
397 |
4.34 |
0.42 |
0.09 |
0.18 |
[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 XPDS-LM17-575-26SYM2 exposed
mineralization 25m long and 1.54m wide (true width) grading 894 g/t
Ag, 9.35% Pb, 0.53% Zn, 0.17 g/t Au, and 1.16% Cu within vein
structure LM17;
- Drift
Tunnel XPDS-LM16-675-115SYM exposed
mineralization 10m long and 0.59m wide (true width) grading 1,740
g/t Ag, 0.96% Pb and 0.36% Zn within vein structure LM16;
- Drift
Tunnel PD1080-LM41E-1080-11NYM exposed
mineralization 15m long and 0.74m wide (true width) grading 1,079
g/t Ag, 2.12% Pb, 0.15% Zn, 0.02 g/t Au, and 0.55% Cu within vein
structure LM41E; and
- Drift
Tunnel PD918-W6-880-128NYM exposed
mineralization 35m long and 0.68m wide (true width) grading 603 g/t
Ag, 4.91% Pb, 2.12% Zn, 0.02 g/t Au, and 0.13% Cu within vein
structure W6.
Table
1: Selected
results from the 2020 drill programs at the LMW
mine
Hole ID |
From(m) |
To (m) |
Interval(m) |
True Width (m) |
Ag(g/t) |
Pb(%) |
Zn(%) |
Au(g/t) |
Cu(%) |
Vein |
Ore Type |
ZKX0015 |
307.53 |
308.73 |
1.20 |
1.07 |
331 |
1.10 |
2.78 |
0.05 |
0.14 |
LM10W |
Ag-Pb |
ZKX0015 |
349.68 |
350.51 |
0.83 |
0.78 |
3 |
0.01 |
0.01 |
1.03 |
0.29 |
LM51 [1] |
Au |
ZKX0016 |
131.45 |
133.12 |
1.67 |
0.94 |
522 |
0.43 |
0.03 |
0.05 |
0.07 |
LM13 |
Ag-Pb |
ZKX0017 |
278.50 |
280.97 |
2.47 |
1.34 |
273 |
0.25 |
0.03 |
0.16 |
0.26 |
LM26 [1] |
Au |
ZKX0026 |
192.99 |
193.79 |
0.80 |
0.75 |
13 |
0.02 |
0.02 |
4.75 |
2.18 |
LM26 |
Au |
ZKX0118 |
30.48 |
32.29 |
1.81 |
1.29 |
1,715 |
1.53 |
0.44 |
0.44 |
0.30 |
LM25W |
Ag-Pb |
ZKX0118 |
146.71 |
148.17 |
1.46 |
1.27 |
3 |
0.01 |
0.01 |
3.52 |
0.33 |
LM22 [1] |
Au |
ZKX0319 |
270.45 |
271.16 |
0.71 |
0.57 |
5 |
0.01 |
0.01 |
3.19 |
0.69 |
LM51 |
Au |
ZKX0334 |
84.70 |
86.08 |
1.38 |
1.30 |
1 |
0.00 |
0.00 |
5.43 |
0.09 |
LM22 |
Au |
ZKX0517 |
46.70 |
47.23 |
0.53 |
0.50 |
6 |
0.01 |
0.02 |
2.49 |
0.00 |
LM22a [1] |
Au |
ZKX0527 |
162.82 |
165.16 |
2.34 |
2.22 |
16 |
0.64 |
0.07 |
8.51 |
0.01 |
LM50 [1] |
Au |
Including |
163.94 |
165.16 |
1.22 |
1.16 |
15 |
0.86 |
0.07 |
13.30 |
0.01 |
LM50 |
Au |
ZKX0528 |
154.89 |
159.55 |
4.66 |
3.15 |
5 |
0.01 |
0.02 |
2.58 |
0.00 |
LM50 |
Au |
Including |
159.15 |
159.55 |
0.40 |
0.26 |
47 |
0.04 |
0.04 |
26.70 |
0.01 |
LM50 |
Au |
ZKX0529 |
113.56 |
114.16 |
0.60 |
0.36 |
780 |
1.23 |
0.33 |
0.04 |
0.46 |
LM7W1 |
Ag-Pb |
ZKX0529 |
168.28 |
176.06 |
7.78 |
4.68 |
256 |
0.76 |
0.07 |
0.01 |
0.08 |
LM7 |
Ag-Pb |
Including |
168.28 |
169.97 |
1.69 |
1.02 |
587 |
0.25 |
0.02 |
0.01 |
0.03 |
LM7 |
Ag-Pb |
and |
174.68 |
176.06 |
1.38 |
0.83 |
609 |
2.93 |
0.24 |
0.01 |
0.39 |
LM7 |
Ag-Pb |
ZKX0531 |
105.26 |
105.97 |
0.71 |
0.61 |
5 |
0.02 |
0.01 |
21.10 |
1.14 |
LM22 |
Au |
ZKX0535 |
92.91 |
94.80 |
1.89 |
1.66 |
4 |
0.00 |
0.01 |
37.08 |
0.53 |
LM22 |
Au |
Including |
92.91 |
94.16 |
1.25 |
1.10 |
5 |
0.00 |
0.01 |
55.80 |
0.56 |
LM22 |
Au |
ZKX0723 |
184.27 |
190.40 |
6.13 |
4.89 |
30 |
0.21 |
0.12 |
5.23 |
0.00 |
LM50 |
Au |
Including |
184.27 |
185.85 |
1.58 |
1.34 |
19 |
0.10 |
0.12 |
12.70 |
0.01 |
LM50 |
Au |
ZKX0725 |
126.41 |
128.86 |
2.45 |
2.06 |
2 |
0.01 |
0.01 |
4.33 |
0.01 |
? [1], [2] |
Au |
Including |
126.41 |
127.36 |
0.95 |
0.80 |
3 |
0.02 |
0.01 |
10.03 |
0.01 |
? |
Au |
ZKX0725 |
166.07 |
167.37 |
1.30 |
1.18 |
1 |
0.02 |
0.06 |
1.87 |
0.01 |
LM50 |
Au |
ZKX0726 |
165.59 |
166.44 |
0.85 |
0.65 |
15 |
0.59 |
0.33 |
9.74 |
0.01 |
LM50 |
Au |
ZKX0726 |
207.06 |
208.56 |
1.50 |
0.92 |
370 |
0.59 |
0.08 |
0.01 |
0.04 |
LM8a |
Ag-Pb |
ZKX0934 |
135.46 |
136.56 |
1.10 |
0.98 |
39 |
0.09 |
0.46 |
3.25 |
0.01 |
LM13 |
Ag-Pb |
ZKX0934 |
323.27 |
327.70 |
4.43 |
2.50 |
343 |
6.21 |
1.16 |
0.17 |
0.04 |
LM12_1 |
Ag-Pb |
Including |
323.27 |
324.51 |
1.24 |
0.70 |
339 |
7.72 |
0.28 |
0.17 |
0.05 |
LM12_1 |
Ag-Pb |
and |
326.81 |
327.70 |
0.89 |
0.50 |
1,185 |
17.64 |
4.84 |
0.50 |
0.08 |
LM12_1 |
Ag-Pb |
ZKX0940 |
249.22 |
250.85 |
1.63 |
1.46 |
1,984 |
3.86 |
0.60 |
0.07 |
0.49 |
LM8_1 |
Ag-Pb |
Including |
249.77 |
250.85 |
1.08 |
0.97 |
2,985 |
5.26 |
0.87 |
0.10 |
0.73 |
LM8_1 |
Ag-Pb |
ZKX1103 |
56.48 |
57.34 |
0.86 |
0.72 |
156 |
0.91 |
0.05 |
0.03 |
0.01 |
LM7W1 |
Ag-Pb |
ZKX1103 |
116.00 |
116.29 |
0.29 |
0.27 |
618 |
0.08 |
0.03 |
0.03 |
0.04 |
LM7W |
Ag-Pb |
ZKX1104 |
157.45 |
157.70 |
0.25 |
0.23 |
2,133 |
1.99 |
0.14 |
0.05 |
0.18 |
LM41E |
Ag-Pb |
ZKX1105 |
130.58 |
131.30 |
0.72 |
0.62 |
644 |
3.02 |
0.79 |
0.05 |
0.33 |
LM41E2 |
Ag-Pb |
Including |
130.58 |
130.82 |
0.24 |
0.21 |
1,842 |
8.37 |
2.25 |
0.05 |
0.94 |
LM41E2 |
Ag-Pb |
ZKX1105 |
133.32 |
133.69 |
0.37 |
0.32 |
582 |
3.69 |
1.07 |
0.05 |
0.22 |
LM41E1 |
Ag-Pb |
ZKX1108 |
130.04 |
131.52 |
1.48 |
0.85 |
330 |
0.63 |
0.02 |
0.01 |
0.02 |
LM12E |
Ag-Pb |
ZKX1109 |
157.87 |
158.85 |
0.98 |
0.51 |
12 |
0.04 |
0.03 |
8.35 |
0.00 |
LM50 |
Au |
ZKX1501 |
270.21 |
273.89 |
3.68 |
2.83 |
135 |
0.35 |
0.04 |
0.01 |
0.02 |
T22 |
Ag-Pb |
Including |
270.21 |
270.46 |
0.25 |
0.16 |
1,579 |
3.70 |
0.40 |
0.03 |
0.20 |
T22 |
Ag-Pb |
ZKX4007 |
284.81 |
287.36 |
2.55 |
1.81 |
423 |
0.26 |
0.22 |
0.01 |
0.07 |
LM17 |
Ag-Pb |
ZKX4008 |
296.43 |
297.54 |
1.11 |
0.80 |
29 |
13.52 |
0.04 |
0.01 |
0.00 |
LM17 |
Ag-Pb |
Including |
297.21 |
297.54 |
0.33 |
0.24 |
81 |
43.66 |
0.03 |
0.02 |
0.01 |
LM17 |
Ag-Pb |
ZKX6801 |
121.67 |
122.94 |
1.27 |
1.22 |
2 |
0.25 |
0.02 |
1.99 |
0.02 |
LM53 [1] |
Au |
Including |
122.68 |
122.94 |
0.26 |
0.25 |
6 |
0.91 |
0.03 |
5.91 |
0.04 |
LM53 |
Au |
ZKX6803 |
182.76 |
184.49 |
1.73 |
0.89 |
454 |
1.37 |
0.18 |
0.01 |
0.28 |
? |
Ag-Pb |
ZKX10105 |
336.91 |
337.16 |
0.25 |
0.20 |
20 |
9.13 |
1.00 |
0.03 |
0 |
LM8W |
Ag-Pb |
ZKX10509 |
254.09 |
254.52 |
0.43 |
0.40 |
743 |
0.32 |
0.30 |
0.31 |
0.05 |
LM8W3 |
Ag-Pb |
ZKX10509 |
282.06 |
282.41 |
0.35 |
0.27 |
723 |
1.57 |
0.14 |
0.33 |
0.01 |
LM8W2 |
Ag-Pb |
ZKX10509 |
385.00 |
385.51 |
0.51 |
0.39 |
168 |
11.57 |
1.77 |
0.22 |
0.03 |
LM8 |
Ag-Pb |
ZKX10708 |
247.43 |
249.99 |
2.56 |
2.15 |
394 |
2.96 |
0.22 |
0.03 |
0.07 |
LM8 |
Ag-Pb |
ZKX10814 |
232.25 |
233.17 |
0.92 |
0.65 |
9 |
0.02 |
0.01 |
2.21 |
0.00 |
LM51 |
Au |
ZKX10915 |
8.72 |
9.19 |
0.47 |
0.36 |
639 |
3.04 |
0.36 |
0.12 |
0.02 |
LM20 |
Ag-Pb |
ZKX11402 |
259.04 |
259.84 |
0.80 |
0.54 |
527 |
2.21 |
0.43 |
0.07 |
0.12 |
LM8 |
Ag-Pb |
ZKX11507 |
229.68 |
231.39 |
1.71 |
0.93 |
82 |
7.53 |
0.13 |
0.01 |
0.04 |
LM17W |
Ag-Pb |
ZKX12503 |
174.73 |
175.88 |
1.15 |
0.99 |
475 |
1.68 |
0.13 |
0.05 |
0.02 |
LM14 |
Ag-Pb |
ZKT4402 |
174.17 |
174.95 |
0.78 |
0.66 |
18 |
0.17 |
0.01 |
8.60 |
0.29 |
? |
Au |
ZKT4802 |
318.39 |
319.08 |
0.69 |
0.64 |
366 |
7.85 |
0.42 |
0.05 |
0.02 |
T11 |
Ag-Pb |
Including |
318.39 |
318.62 |
0.23 |
0.21 |
329 |
22.97 |
1.15 |
0.05 |
0.03 |
T11 |
Ag-Pb |
[1] Veins discovered between July 1, 2019 and October 30,
2020.
[2] New veins with no name assigned.
Table
2: Selected
mineralized zones exposed by drift
tunnelling
at the LMW
mine
Tunnel ID |
Vein |
Ore Length(m) |
True Width (m) |
Ag (g/t) |
Pb (%) |
Zn (%) |
Au (g/t) |
Cu (%) |
XPDN-LM8-600-111NYM |
LM8 |
25 |
0.33 |
229 |
2.57 |
0.29 |
0.04 |
0.07 |
XPDN-LM8_4a-500-143NYM |
LM8_4a |
35 |
0.42 |
301 |
1.07 |
1.39 |
0.00 |
0.00 |
PD969Shaft-LM12_1-600-12SYM |
LM12_1 |
45 |
0.77 |
344 |
3.37 |
0.19 |
0.00 |
0.00 |
PD924-LM12E-924-11NYM |
LM12E |
35 |
0.46 |
201 |
1.33 |
0.15 |
0.00 |
0.00 |
XPDS-LM14-625-109SYM |
LM14 |
20 |
0.24 |
440 |
3.34 |
0.06 |
0.00 |
0.00 |
XPDS-LM14-575-113NYM1 |
LM14 |
15 |
0.47 |
135 |
3.58 |
0.19 |
0.00 |
0.00 |
XPDS-LM14-575-113NYM2 |
LM14 |
15 |
0.30 |
304 |
2.96 |
0.25 |
0.00 |
0.00 |
XPDS-LM16-675-115SYM |
LM16 |
10 |
0.59 |
1,740 |
0.96 |
0.36 |
0.00 |
0.00 |
XPDS-LM16_1-725-111NYM |
LM16_1 |
20 |
0.29 |
616 |
1.64 |
0.25 |
0.00 |
0.00 |
XPDS-LM17-575-26SYM1 |
LM17 |
40 |
0.70 |
96 |
4.02 |
0.35 |
0.00 |
0.00 |
XPDS-LM17-575-26SYM2 |
LM17 |
25 |
1.54 |
894 |
9.35 |
0.53 |
0.17 |
1.16 |
XPDS-LM17W-600-0NYM1 |
LM17W |
20 |
0.40 |
377 |
4.37 |
0.66 |
0.00 |
0.00 |
XPDS-LM17W-600-0NYM2 |
LM17W |
40 |
0.72 |
249 |
2.98 |
1.16 |
0.00 |
0.00 |
XPDN-LM17W-800-9ECM |
LM17W1 |
15 |
0.27 |
719 |
5.07 |
0.59 |
0.00 |
0.00 |
XPDN-LM19W2-700-122SYM |
LM19W2 |
70 |
0.63 |
499 |
2.72 |
0.45 |
0.00 |
0.00 |
PD969Shaft-LM19W2-600-114SYM |
LM19W2 |
12 |
0.52 |
195 |
1.22 |
0.18 |
0.00 |
0.00 |
PD969Shaft-LM19W2-600-114NYM |
LM19W2 |
15 |
0.56 |
381 |
1.63 |
0.15 |
0.00 |
0.00 |
SJ969-LM19W2-550-110NYM |
LM19W2 |
15 |
0.97 |
26 |
8.58 |
0.26 |
0.00 |
0.00 |
PD924-LM22-834-3NYM |
LM22 |
40 |
0.18 |
11 |
0.04 |
0.01 |
2.72 |
1.55 |
PD969Shaft-LM30-550-114SYM |
LM30 |
30 |
0.41 |
136 |
4.40 |
0.31 |
0.00 |
0.00 |
PD969Shaft-LM12_2-500-14SYM |
LM32 |
25 |
0.28 |
303 |
4.87 |
0.85 |
0.33 |
0.11 |
PD1080-LM41E-1080-11NYM |
LM41E |
15 |
0.74 |
1,079 |
2.12 |
0.15 |
0.02 |
0.55 |
PD924-T27E-900-110SYM |
T27E |
20 |
0.89 |
114 |
14.33 |
0.17 |
0.00 |
0.00 |
PD918-W6-880-128NYM |
W6 [1] |
35 |
0.68 |
603 |
4.91 |
2.12 |
0.02 |
0.13 |
[1] Veins discovered between July 1, 2019 and October 30,
2020.
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 200-300g 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 1.0m, 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 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 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
This news release has been prepared in
accordance with the requirements of NI 43‐101 and the Canadian
Institute of Mining, Metallurgy and Petroleum Definition Standards,
which differ from the requirements of U.S. Securities laws. NI
43‐101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects.
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