Silvercorp Metals Inc. ("Silvercorp” or the “Company”) (TSX/NYSE
American: SVM) is pleased to report assay results from its 2020
exploration program at the HPG mine, Ying Mining District, Henan
Province, China. In total, 13,515 metres (“m”) from 150 diamond
drill holes, including 129 underground holes and 21 surface holes,
have been completed from July 1, 2019 to October 31, 2020. Assay
results for 140 holes have been received, with 69 holes
intercepting mineralization. Nine rigs have been
drilling at the HPG mine since July 2020. In addition
to infill drill holes targeting areas of known sub-vertical
silver-lead-zinc-gold veins previously believed to be uneconomic,
the program discovered vein structures with relatively high gold,
low silver-lead-zinc grade mineralization, such as:
- Hole ZK0912
intercepted a new vein with a 1.03 m interval grading 4.82 grams
per tonne (“g/t”) gold (“Au”), 44 g/t silver (“Ag”) and low lead
(“Pb”) and zinc (“Zn”).
- Hole ZK1733
intercepted vein H11E with a 0.98 m interval grading 3.64 g/t Au
and low Ag, Pb and Zn.
- Hole ZK1920
intercepted vein H13 with a 3.88 m interval grading 3.18 g/t Au, 52
g/t Ag and low Pb and Zn.
- Hole ZK2723
intercepted vein H10_1 with a 1.05 m interval grading 6.41 g/t Au
and low Ag, Pb and Zn.
The drill hole and tunnel results have shown
that mineralization at the HPG mine developed in at least two
phases, an earlier phase of gold-bearing structures and later stage
silver-lead-zinc mineralization. In many cases, the
silver-lead-zinc mineralization has overprinted the earlier
gold-bearing structures, while there are still some gold-bearing
structures that have not been overprinted and were overlooked
before. Future exploration will investigate such structures with
less obvious silver-lead-zinc mineralization overprinting.
Highlights of selected drill hole intercepts
(please see Table 1 for details):
- Surface
Hole ZK2537 intersected three zones:
- 2.01 m interval
(vein H16_1) from 244.06 m, grading 3.01 g/t Au, 20 g/t Ag, 0.5% Pb
and 1.14% Zn;
- 0.81 m interval
(vein H15) from 319.52 m, grading 5.18 g/t Au, 16 g/t Ag, 0.28% Pb
and 0.16% Zn; and
- 13.13 m interval
(vein H40E, confirmed by an underground tunnel to have a true width
of 4.38 m) from 372.70 m, grading 2.84 g/t Au, 259 g/t Ag,
12.22% Pb and 1.06% Zn, including 1.58 m from 374.44 m, grading
17.08 g/t Au, 301 g/t Ag, 18.66% Pb, and 0.62% Zn;
- Surface
Hole ZK3812 intersected a 0.96 m interval (vein H17) from
182.14 m grading 4.71 g/t Au, 1,261 g/t Ag, 1.27% Pb, and 0.07%
Zn;
- Surface
Hole ZK4610 intersected a 0.85 m interval (vein H15) from
251.77 m, grading 1.13 g/t Au, 274 g/t Ag, 30.82% Pb, 0.02% Zn,
including a 0.50 m interval from 251.77 m, grading 462 g/t Ag,
51.90% Pb, 0.02% Zn, 1.85 g/t Au and 1.20% Cu;
- Surface Hole ZK2342 intersected a 2.09 m
interval (vein H16) from 291.69 m, grading 8.93 g/t Au, 24 g/t Ag,
0.54% Pb, and 1.15% Zn, including a 1.15 m interval from 291.69 m
grading 15.7 g/t Au, 43 g/t Ag, 0.94% Pb, and 2.07% Zn;
- Surface Hole ZK1958 intersected three zones:
- 2.00 m interval (vein H14) from
32.06 m, grading 2.17 g/t Au, 59 g/t Ag, 3.52% Pb, and 3.16%
Zn;
- 2.10 m interval (vein H16) from
40.08 m, grading 1.48 g/t Au, 68 g/t Ag, 8.93% Pb, and 2.84% Zn;
and
- 1.26 m interval (vein H16_3) from
66.46 m, grading 0.83 g/t Au, 98 g/t Ag, 12.26% Pb, and 14.20%
Zn.
Gently dipping vein structures similar to those found at the LMW
and LME mines have also been discovered at the HPG mine. These
veins consist of quartz and calcite veinlets with
quartz-calcite-pyrite alteration and are generally dipping to the
northwest at dips of around 10 degrees, with true thickness ranging
between 0.5 m and 2 m. Drill hole ZK15N02 intersected a 10.05 m
interval (true width unknown) grading 20 g/t Ag, 0.12% Pb, 0.17%
Zn, and 1.62 g/t Au. Based on the contact with the hangingwall and
footwall, the intercept appears to be a sub-horizontal vein
structure with a relatively elevated gold grade.
In addition to drilling, a total of 8,684 m of
exploration tunnels have been developed at the HPG mine during the
period. These exploration tunnels (comprising drifting,
cross-cutting and raising) 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 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 (%) |
H4, H5,
H5_1, H5E, H5W, H10_1a, H13, H15, H15_1, H15W, H16, H16_3, H17,
H18_1, H21, H32E1, H39_1, X1, X3 |
8,684 |
6,768 |
6,431 |
3,142 |
0.76 |
116 |
3.21 |
1.71 |
0.93 |
0.07 |
[1] Mineralization is defined by silver
equivalent value (AgEq) greater than or equal to 140 g/t at the HPG
mine. (Formula used for AgEq calculation: AgEq = Ag g/t + 37.57 *
(Pb% + Cu%) + 23.61 * Zn% + 85.26 * Au g/t)
Highlights of selected mineralized zones exposed
in the drift tunnels:
- Drift Tunnel
PD3-H5-380-3MW exposed mineralization 40 m long and 0.57 m
wide (true width) grading 0.20 g/t Au, 857 g/t Ag, 5.86% Pb, and
6.85% Zn within vein structure H5E;
- Drift Tunnel
PD3-H5-340-8SYM exposed mineralization 45 m long and 0.75
m wide (true width) grading 2.60 g/t Au, 297 g/t Ag, 3.21% Pb, and
4.52% Zn within vein structure H5E;
- Drift Tunnel
PD2-H15-570-10NYM exposed mineralization 243 m long and
1.32 m wide (true width) grading 0.57 g/t Au, 111 g/t Ag, 5.60% Pb,
and 0.42% Zn within vein structure H15; and
- Drift Tunnel
PD3-H15W-380-8SYM exposed mineralization 155 m long and
0.60 m wide (true width) grading 4.23 g/t Au, 97 g/t Ag, 3.37% Pb,
and 1.86% Zn within vein structure H15W.
Table 1: Selected results from the drill
programs at the HPG mine
HoleID |
From(m) |
To (m) |
Elevation(m) |
Interval(m) |
True Width (m) |
Ag(g/t) |
Pb(%) |
Zn(%) |
Au(g/t) |
Cu(%) |
Veins |
ZK0225 |
373.07 |
374.50 |
497 |
1.43 |
1.02 |
97 |
0.93 |
0.36 |
2.13 |
0.02 |
X3 [1] |
ZK0620 |
279.71 |
280.56 |
518 |
0.85 |
0.72 |
81 |
0.86 |
0.09 |
2.29 |
0.01 |
X1 [1] |
ZK0912 |
165.47 |
166.50 |
636 |
1.03 |
0.85 |
44 |
0.15 |
0.18 |
4.82 |
0.01 |
new [1], [2] |
ZK0914 |
130.34 |
138.05 |
638 |
7.71 |
4.21 |
62 |
1.45 |
2.38 |
1.44 |
0.12 |
H9 |
Including |
130.34 |
132.05 |
638 |
1.71 |
0.93 |
85 |
1.33 |
2.61 |
4.16 |
0.09 |
H9 |
ZK1025 |
463.72 |
464.80 |
385 |
1.08 |
0.64 |
93 |
3.78 |
2.13 |
0.43 |
0.07 |
X3 |
ZK1027 |
11.55 |
12.16 |
454 |
0.61 |
0.46 |
620 |
0.20 |
0.03 |
0.07 |
0.13 |
H3 |
ZK14N01 |
140.35 |
140.83 |
605 |
0.47 |
0.28 |
189 |
27.64 |
0.07 |
1.11 |
0.25 |
H15W |
ZK1523 |
33.06 |
34.75 |
604 |
1.69 |
1.13 |
56 |
4.69 |
3.78 |
0.58 |
0.03 |
H39_1a [1] |
ZK15N01 |
38.22 |
43.49 |
719 |
5.27 |
5.26 |
20 |
1.63 |
2.41 |
0.09 |
0.02 |
new |
ZK15N01 |
57.92 |
59.34 |
703 |
1.42 |
1.11 |
26 |
5.29 |
1.95 |
0.08 |
0.01 |
new |
ZK15N02 |
192.10 |
202.15 |
562 |
10.05 |
unknown |
20 |
0.12 |
0.17 |
1.62 |
0.01 |
new |
ZK15N02 |
216.79 |
217.79 |
542 |
1.00 |
0.98 |
68 |
1.21 |
1.94 |
3.42 |
0.01 |
new |
ZK1618 |
194.13 |
197.24 |
517 |
3.11 |
2.55 |
53 |
6.01 |
5.33 |
0.39 |
0.10 |
X1 |
ZK1621 |
165.98 |
166.37 |
531 |
0.39 |
0.38 |
85 |
22.81 |
0.14 |
0.20 |
0.07 |
H6 |
ZK1733 |
47.20 |
48.18 |
639 |
0.98 |
0.60 |
3 |
0.25 |
0.08 |
3.64 |
0.01 |
H11E |
ZK1733 |
88.40 |
89.15 |
619 |
0.75 |
0.60 |
138 |
7.36 |
0.28 |
7.02 |
0.02 |
H11 |
ZK1733 |
97.21 |
97.63 |
615 |
0.42 |
0.31 |
33 |
14.63 |
0.18 |
0.08 |
0.01 |
H9 |
ZK1808 |
450.72 |
451.94 |
359 |
1.22 |
0.74 |
22 |
6.08 |
2.12 |
0.03 |
0.24 |
X3 |
ZK1809 |
138.18 |
139.00 |
489 |
0.82 |
0.64 |
30 |
7.37 |
1.58 |
0.15 |
0.03 |
H4 |
ZK1920 |
175.32 |
179.20 |
339 |
3.88 |
2.27 |
52 |
0.88 |
0.47 |
3.18 |
0.04 |
H13 |
ZK1921 |
304.95 |
307.43 |
217 |
2.48 |
1.54 |
38 |
2.33 |
2.37 |
1.51 |
0.56 |
H15 |
Including |
306.31 |
306.79 |
217 |
0.48 |
0.30 |
51 |
7.95 |
9.63 |
4.96 |
1.66 |
H15 |
ZK1950 |
55.44 |
57.50 |
645 |
2.06 |
0.90 |
24 |
7.92 |
0.84 |
1.39 |
0.05 |
H16 |
Including |
55.44 |
56.38 |
646 |
0.94 |
0.41 |
41 |
16.26 |
1.52 |
2.78 |
0.10 |
H16 |
ZK1958 |
32.06 |
34.06 |
641 |
2.00 |
1.23 |
59 |
3.52 |
3.16 |
2.17 |
0.25 |
H14 |
ZK1958 |
40.08 |
42.18 |
636 |
2.10 |
1.69 |
68 |
8.93 |
2.84 |
1.48 |
0.14 |
H16 |
ZK1958 |
66.46 |
67.72 |
619 |
1.26 |
1.03 |
98 |
12.26 |
14.20 |
0.83 |
0.21 |
H16_3 |
ZK2011 |
199.03 |
199.43 |
491 |
0.40 |
0.33 |
31 |
13.80 |
0.03 |
0.03 |
0.00 |
H6 |
ZK2011 |
366.36 |
366.83 |
405 |
0.47 |
0.37 |
33 |
1.00 |
0.63 |
3.71 |
0.06 |
H5 |
ZK2111 |
34.30 |
35.13 |
441 |
0.83 |
0.62 |
112 |
4.51 |
0.16 |
2.90 |
0.15 |
H39_1 |
ZK2206 |
214.73 |
215.57 |
513 |
0.84 |
0.71 |
70 |
6.49 |
0.83 |
0.19 |
0.04 |
H6 |
ZK2310 |
44.04 |
44.62 |
434 |
0.58 |
0.38 |
35 |
1.07 |
0.30 |
11.22 |
0.01 |
H10_1 |
ZK2311 |
319.13 |
319.60 |
186 |
0.47 |
0.39 |
529 |
1.08 |
0.04 |
6.59 |
1.43 |
H15 |
ZK2333 |
406.01 |
408.79 |
529 |
2.78 |
2.21 |
6 |
0.44 |
0.56 |
1.89 |
0.03 |
H16 |
ZK2333 |
451.34 |
452.12 |
501 |
0.78 |
0.61 |
1 |
0.04 |
0.03 |
3.65 |
0.00 |
H16_3 |
ZK2342 |
291.69 |
293.78 |
441 |
2.09 |
0.88 |
24 |
0.54 |
1.15 |
8.93 |
0.05 |
H16 |
Including |
291.69 |
292.84 |
442 |
1.15 |
0.48 |
43 |
0.94 |
2.07 |
15.70 |
0.10 |
H16 |
ZK2520 |
310.63 |
311.05 |
303 |
0.42 |
0.31 |
98 |
13.52 |
0.17 |
0.43 |
0.20 |
H12 |
ZK2535 |
326.61 |
327.96 |
460 |
1.35 |
0.96 |
13 |
0.92 |
1.07 |
3.00 |
0.07 |
H16 |
ZK2535 |
445.60 |
446.38 |
394 |
0.78 |
0.57 |
9 |
0.60 |
0.27 |
3.60 |
0.02 |
H11 |
ZK2537 |
244.06 |
246.07 |
551 |
2.01 |
1.19 |
20 |
0.50 |
1.14 |
3.01 |
0.04 |
H16_1 |
ZK2537 |
319.52 |
320.33 |
487 |
0.81 |
0.60 |
16 |
0.28 |
0.16 |
5.18 |
0.05 |
H15 |
ZK2537 |
372.70 |
385.83 |
437 |
13.13 |
4.38 |
259 |
12.22 |
1.06 |
2.84 |
0.51 |
H40E |
Including |
374.44 |
376.02 |
440 |
1.58 |
0.53 |
301 |
18.66 |
0.62 |
17.08 |
0.55 |
H40E |
ZK2720 |
67.40 |
68.47 |
604 |
1.07 |
0.84 |
42 |
5.30 |
3.21 |
0.32 |
0.04 |
H20W |
ZK2723 |
41.03 |
42.08 |
442 |
1.05 |
0.71 |
5 |
0.05 |
0.03 |
6.41 |
0.01 |
H10_1 |
ZK2725 |
314.61 |
315.77 |
380 |
1.16 |
0.86 |
45 |
12.14 |
0.10 |
0.05 |
0.02 |
H12 |
ZK3302 |
57.18 |
57.97 |
602 |
0.79 |
0.51 |
34 |
8.47 |
0.30 |
0.05 |
0.00 |
H12E1 |
ZK3302 |
223.57 |
224.09 |
525 |
0.52 |
0.45 |
16 |
0.99 |
0.18 |
8.69 |
0.01 |
H10_1 |
ZK3621 |
156.11 |
158.42 |
751 |
2.31 |
1.99 |
148 |
0.21 |
0.15 |
2.84 |
0.02 |
H17_1 |
ZK3621 |
194.29 |
195.14 |
718 |
0.85 |
0.62 |
77 |
1.32 |
2.20 |
2.20 |
0.03 |
H18 |
ZK3622 |
175.88 |
176.70 |
729 |
0.82 |
0.61 |
440 |
0.39 |
0.08 |
1.56 |
0.03 |
H17_1 |
ZK3812 |
182.14 |
183.10 |
721 |
0.96 |
0.75 |
1261 |
1.27 |
0.07 |
4.71 |
0.10 |
H17 |
ZK4610 |
251.77 |
252.62 |
261 |
0.85 |
0.39 |
274 |
30.82 |
0.02 |
1.13 |
0.71 |
H17 |
Including |
251.77 |
252.27 |
261 |
0.50 |
0.23 |
462 |
51.90 |
0.02 |
1.85 |
1.20 |
H17 |
[1] New veins discovered between July 1, 2019 and October 31,
2020[2] New veins with no name assigned
Table 2: Selected mineralized zones
exposed by drift tunnelling at the HPG mine
Tunnel ID |
Vein |
Ore Length(m) |
True Width (m) |
Ag(g/t) |
Pb (%) |
Zn (%) |
Au (g/t) |
Cu (%) |
PD600-H4-510-10SYM |
H4 |
19 |
1.05 |
92 |
5.88 |
0.92 |
0.13 |
0.04 |
PD600-H4-510-8NYM |
H4 |
80 |
0.51 |
59 |
5.72 |
1.05 |
0.08 |
0.00 |
PD3-H4-340-12NYM |
H4 |
25 |
0.46 |
32 |
5.64 |
4.79 |
0.02 |
0.07 |
PD600-H5-560-1SYM |
H5 |
75 |
0.68 |
85 |
2.17 |
0.53 |
0.51 |
0.03 |
PD600-H5-510-7SYM |
H5 |
40 |
1.33 |
225 |
3.65 |
2.69 |
0.19 |
0.07 |
PD3-H5-380-5SYM |
H5 |
50 |
0.53 |
500 |
1.48 |
4.44 |
0.20 |
0.06 |
PD3-H5-380-8SYM |
H5 |
115 |
0.79 |
119 |
4.01 |
1.44 |
0.64 |
0.04 |
PD3-H5-340-0SYM |
H5 |
145 |
0.74 |
191 |
2.46 |
2.71 |
1.15 |
0.02 |
PD3-H5_1-300-10SYM |
H5_1 |
20 |
1.07 |
20 |
3.71 |
5.65 |
0.07 |
0.08 |
PD3-H5-380-3MW |
H5E |
40 |
0.57 |
857 |
5.86 |
6.85 |
0.20 |
0.00 |
PD3-H5-340-8SYM |
H5E |
45 |
0.75 |
297 |
3.21 |
4.52 |
2.60 |
0.12 |
PD3-H5E-300-4SYM |
H5E |
55 |
0.79 |
32 |
2.68 |
3.92 |
0.38 |
0.16 |
PD600-H5W-560-5SYM |
H5W |
75 |
0.49 |
150 |
1.19 |
1.26 |
1.12 |
0.05 |
PD3-H5W-460-3SYM |
H5W |
30 |
1.02 |
97 |
1.37 |
1.77 |
2.58 |
0.04 |
PD3-H5W-380-6NYM |
H5W |
35 |
0.95 |
50 |
9.33 |
0.10 |
0.07 |
0.09 |
PD3-H5W-340-8NYM |
H5W |
43 |
0.34 |
41 |
15.06 |
0.57 |
0.12 |
0.06 |
PD2-H10_1a-530-19NYM |
H10_1a |
20 |
0.83 |
112 |
1.60 |
1.77 |
0.86 |
0.00 |
PD2-H13-630-NYM |
H13 |
30 |
0.42 |
586 |
2.11 |
1.81 |
0.49 |
0.00 |
PD2-H15-570-10NYM |
H15 |
243 |
1.32 |
111 |
5.60 |
0.42 |
0.57 |
0.28 |
PD3-H15_1-460-44NYM |
H15_1 |
100 |
0.51 |
36 |
7.17 |
0.02 |
0.82 |
0.12 |
PD2-H15W-570-14NYM |
H15W |
65 |
0.47 |
102 |
12.41 |
0.26 |
0.54 |
0.00 |
PD3-H15W-380-8SYM |
H15W |
155 |
0.60 |
97 |
3.37 |
1.86 |
4.23 |
0.12 |
PD5-H16-640-13ECM |
H16 |
20 |
3.21 |
160 |
0.56 |
1.58 |
0.16 |
0.05 |
PD5-H16-640-13SYM |
H16 |
81 |
0.95 |
205 |
0.96 |
0.41 |
1.53 |
0.04 |
PD3-H16-460-15SYM |
H16 |
69 |
0.97 |
24 |
1.26 |
1.08 |
3.41 |
0.02 |
EXPD-H17-660-44NYM |
H17 |
20 |
0.59 |
19 |
0.98 |
0.22 |
9.31 |
0.00 |
PD3-H17-200-12NYM |
H17 |
135 |
1.06 |
40 |
3.05 |
4.95 |
0.45 |
0.05 |
PD3-H17-100-10NYM |
H17 |
527 |
1.16 |
40 |
2.18 |
3.58 |
1.16 |
0.04 |
PD3-H18_1-150-14NYM |
H18_1 |
40 |
0.75 |
107 |
3.38 |
2.45 |
0.62 |
0.08 |
EXPD-H21-520-36SYM |
H21 |
27 |
0.99 |
43 |
3.22 |
0.02 |
1.18 |
0.16 |
PD2-H32E1-630-10NYM |
H32E1 |
75 |
0.59 |
69 |
4.82 |
0.31 |
0.22 |
0.07 |
PD6-H39_1-600-23NYM |
H39_1 |
25 |
0.36 |
113 |
1.05 |
0.77 |
3.96 |
0.00 |
PD600-X1-510-14NYM |
X1 |
24 |
1.39 |
52 |
1.35 |
1.24 |
1.05 |
0.15 |
PD600-X3-510-16NYM |
X3 |
18 |
0.87 |
23 |
1.26 |
1.12 |
0.42 |
0.00 |
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 0.2 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.
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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