VANCOUVER, BC, Oct. 12, 2021
/CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company")
(TSX: SVM) (NYSE American: SVM) is pleased to report results from
its exploration programs at the DCG mine. Extensive exploration
drilling and tunneling are ongoing at the DCG mine, and all other
mines at the Ying Mining District, Henan
Province, China.
From March 1, 2020 to September 30, 2021, 29,010 metres ("m") from a
total of 207 diamond drill holes, including 117 underground holes
and 90 surface holes, were completed at the DCG mine. Assay results
for 164 holes have been received, with 110 holes intercepting
mineralization. Currently there are six rigs drilling at the DCG
mine.
The drilling program has been focused on three targets: 1)
definition and step-out drilling for known gold vein C9 to the east
of the resource area; 2) drilling for new gold veins to the east of
the resource area; and 3) infill drilling for known
silver-lead-zinc veins in the resource area.
Drilling Defined Gold Vein C9 for 850 Metres in
Length
C9 is a gold vein striking north-northwest, with a dip varying
between 30° and 50° to the East. It is associated with quartz and
sericite alteration, and minor K-feldspar alteration, with
disseminated pyrite and some overprinted galena and sphalerite. The
thickness of the vein ranges between 0.5
m and 6 m.
Historically, there are only two drill holes which have
intersected the C9 vein. However, during the 2020-2021 drilling
program, 67 holes were drilled to define the C9 vein along a strike
length of approximately 850 m, and
over 150 m down-dip. The vein is
still open laterally along strike and at depth. The drilling also
intersected additional splay and parallel gold veins, including
C9_1, C9_1E, C9E, C9W, and C9a.
Drilling Discovered Gold Vein C76
The newly discovered gold vein C76 is controlled by a fault
striking approximately 225° and dipping 40°-50° to the northwest.
The vein pinches-and-swells, with horizontal thickness ranging from
0.5 m to over 10 m. The gold mineralization is associated with
dark gray quartz alteration, disseminated fine-grained pyrite, and
black gouge with minor galena and sphalerite. This structure
intersects vein C9 with sinistral apparent displacement of around
35 m. The drilling also discovered
additional splay and parallel gold veins, including C76W, C77 and
C77E.
Underground cross-cut works have shown that thick gold zones
occur near C9 cutting C76 and C77, such as the cross-cut
DCG-XPD-C76-800-400NMW-CM5 that exposed 5.46 m true width grading 5.66 grams per tonne
("g/t") gold ("Au") and 78 g/t silver ("Ag") at an elevation of
800 m (see Table 3).
Highlights of the high-grade gold intercepts at the DCG
mine:
- Hole ZKDB51BC902 intersected a 3.57 m interval (3.28
m true width) of vein C9 grading 7.17 g/t Au and 15 g/t Ag
from 81.99 m depth at an elevation of
816 m;
- Hole ZKDB51C903 intersected a 7.17 m interval (5.74
m true width) of vein C9 grading 2.92 g/t Au and 4 g/t Ag
from 74.54 m depth at an elevation of
812 m, which includes a 1.39 m interval (1.12
m true width) grading 8.93 g/t Au and 9 g/t Ag from
74.54 m depth at an elevation of
812 m;
- Hole ZK50C903 intersected a 2.87 m interval (2.74
m true width) of vein C9 grading 4.67 g/t Au and 51 g/t Ag
from 62.10 m depth at an elevation of
818 m; and
- Hole ZKDB403AC7602 intersected a 1.55 m interval (1.47
m true width) of vein C77 grading 5.07 g/t Au and 19 g/t Ag
from 22.80 m depth at an elevation of
1,010 m.
Drilling Defines Silver-Lead-Zinc Veins in the Resource
Area
51 surface and underground holes were drilled within the
resource area at the DCG mine to define the silver-lead-zinc veins,
including C4, C4E, C4E1, C4E2, C4W, and C7. These veins strike
southwest and dip northwest between 45° and 65°. The drilling
defined a resource area of around 400
m along strike, and 100 m
down-dip.
Highlights of the high-grade silver-lead-zinc intercepts at the
DCG mine:
- Hole ZKDB05C4E005 intersected a 1.70 m interval (1.66
m true width) of vein C4E grading 68 g/t Ag, 15.48% lead
("Pb"), 0.5% zinc ("Zn") and 0.16% copper ("Cu") from 160.81 m depth at an elevation of 837 m;
- Hole ZK03AC705 intersected a 1.02
m interval (0.98 m true width)
of vein C7 grading 620 g/t Ag, 0.90% Pb, 0.04% Zn, and 0.09 g/t Au
from 205.57 m depth at an elevation
of 782 m; and
- Hole ZK03C8_202 intersected a 0.66 m interval (0.63
m true width) of newly discovered vein L1 grading 750 g/t
Ag, 6.10% Pb, 0.23% Zn, 1.55 g/t Au, and 0.08% Cu from 84.69 m depth at an elevation of 849 m.
Table 1: Selected intercepts from the 2020-2021 drilling
programs at the DCG mine
Hole
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
Interval
(m)
|
True
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
Vein
|
Ore
Type
|
ZK03AC406
|
4.71
|
5.78
|
891
|
1.07
|
0.61
|
0.02
|
15
|
3.35
|
0.06
|
0.01
|
C4E
|
Ag-Pb-Zn
|
ZK03AC407
|
1.80
|
3.00
|
892
|
1.20
|
0.75
|
0.02
|
34
|
6.18
|
0.12
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK03AC407
|
55.98
|
57.05
|
877
|
1.07
|
0.67
|
0.02
|
12
|
2.86
|
0.05
|
0.02
|
C4a1
|
Ag-Pb-Zn
|
ZK03AC407
|
67.44
|
68.49
|
874
|
1.05
|
0.78
|
0.02
|
30
|
1.81
|
0.17
|
0.02
|
C4
|
Ag-Pb-Zn
|
ZK03AC408
|
23.85
|
25.58
|
884
|
1.73
|
1.41
|
0.02
|
27
|
2.03
|
0.15
|
0.08
|
C4
|
Ag-Pb-Zn
|
ZK03AC409
|
4.00
|
6.03
|
891
|
2.03
|
1.28
|
0.02
|
20
|
6.07
|
0.12
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK03AC409
|
89.16
|
91.54
|
860
|
2.38
|
1.50
|
0.02
|
291
|
0.19
|
0.02
|
0.27
|
C4
|
Ag-Pb-Zn
|
ZK03AC410
|
55.71
|
56.44
|
878
|
0.73
|
0.48
|
0.02
|
30
|
4.78
|
0.41
|
0.02
|
C4a1
|
Ag-Pb-Zn
|
ZK03AC412
|
48.27
|
49.71
|
876
|
1.44
|
0.65
|
0.02
|
13
|
3.71
|
0.13
|
0.01
|
C4a1
|
Ag-Pb-Zn
|
ZK03AC4E08
|
0.30
|
0.88
|
893
|
0.58
|
0.57
|
0.02
|
22
|
7.21
|
0.20
|
0.03
|
C4a
|
Ag-Pb-Zn
|
ZK03AC4E08
|
35.98
|
38.62
|
880
|
2.64
|
2.55
|
0.20
|
40
|
5.38
|
0.19
|
0.03
|
C4E
|
Ag-Pb-Zn
|
ZK03AC4E09
|
39.84
|
43.41
|
860
|
3.57
|
3.43
|
0.02
|
22
|
2.61
|
0.05
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK03AC4E10
|
1.55
|
2.06
|
892
|
0.51
|
0.48
|
0.02
|
29
|
2.95
|
0.03
|
0.02
|
C4a1
|
Ag-Pb-Zn
|
ZK03AC4E10
|
39.95
|
42.52
|
871
|
2.57
|
2.44
|
0.02
|
33
|
6.56
|
0.07
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK03AC4E11
|
42.17
|
44.51
|
881
|
2.34
|
2.00
|
0.02
|
48
|
7.39
|
0.11
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK03AC701
|
451.65
|
452.23
|
587
|
0.58
|
0.56
|
1.00
|
42
|
6.42
|
0.18
|
0.47
|
C8_2
|
Ag-Pb-Zn
|
ZK03AC703
|
11.29
|
13.08
|
881
|
1.79
|
1.02
|
0.01
|
27
|
2.72
|
0.11
|
0.07
|
C4E2
|
Ag-Pb-Zn
|
ZK03AC705
|
205.57
|
206.59
|
782
|
1.02
|
0.98
|
0.09
|
620
|
0.90
|
0.04
|
0.01
|
C7
|
Ag-Pb-Zn
|
ZK03C4E02
|
45.19
|
46.16
|
861
|
0.97
|
0.87
|
0.02
|
21
|
4.79
|
0.08
|
0.01
|
C4E
|
Ag-Pb-Zn
|
ZK03C4E05
|
43.70
|
45.21
|
862
|
1.51
|
1.47
|
0.02
|
20
|
3.39
|
0.05
|
0.01
|
C4E
|
Ag-Pb-Zn
|
ZK03C8_202
|
84.69
|
85.35
|
849
|
0.66
|
0.63
|
1.55
|
750
|
6.10
|
0.23
|
0.08
|
L1
[1]
|
Ag-Pb-Zn
|
ZK05C401
|
67.56
|
71.15
|
875
|
3.59
|
2.75
|
0.02
|
150
|
2.74
|
0.24
|
0.07
|
C4
|
Ag-Pb-Zn
|
ZK05C403
|
73.24
|
76.27
|
868
|
3.03
|
2.09
|
0.02
|
39
|
4.55
|
0.09
|
0.02
|
C4
|
Ag-Pb-Zn
|
ZK05C406
|
106.31
|
106.66
|
859
|
0.35
|
0.22
|
4.85
|
429
|
1.97
|
1.09
|
0.37
|
C4_1
|
Ag-Pb-Zn
|
ZK05C4E08
|
35.72
|
36.45
|
881
|
0.73
|
0.63
|
0.02
|
14
|
5.78
|
0.03
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK07C4E07
|
36.08
|
37.36
|
878
|
1.28
|
1.17
|
0.02
|
59
|
2.31
|
0.81
|
0.05
|
C4E
|
Ag-Pb-Zn
|
ZK400AC7601
|
50.10
|
51.77
|
834
|
1.67
|
1.51
|
1.14
|
25
|
0.75
|
0.40
|
0.01
|
C76
[1]
|
Au
|
ZK401AC8E102
|
176.28
|
178.11
|
734
|
1.83
|
1.23
|
0.06
|
42
|
5.62
|
0.18
|
0.02
|
C8E1
|
Ag-Pb-Zn
|
ZK401BC802
|
62.95
|
63.68
|
807
|
0.73
|
0.70
|
1.67
|
9
|
0.05
|
0.03
|
0.00
|
C76
|
Au
|
ZK401C7602
|
127.07
|
128.03
|
783
|
0.96
|
0.26
|
0.20
|
35
|
6.30
|
0.34
|
0.04
|
C8
|
Ag-Pb-Zn
|
ZK401C7603
|
239.85
|
240.44
|
728
|
0.59
|
0.44
|
0.01
|
19
|
10.83
|
0.10
|
0.03
|
C8E1
|
Ag-Pb-Zn
|
ZK403AC4002
|
47.45
|
48.48
|
882
|
1.03
|
0.72
|
0.02
|
47
|
2.30
|
0.21
|
0.01
|
C4Ea3
|
Ag-Pb-Zn
|
ZK403AC4002
|
78.53
|
79.36
|
875
|
0.83
|
0.57
|
0.02
|
16
|
3.09
|
0.14
|
0.01
|
C4Ea2
|
Ag-Pb-Zn
|
ZK403AC4002
|
145.76
|
146.88
|
862
|
1.12
|
0.78
|
0.02
|
225
|
5.95
|
0.12
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK403C401
|
140.30
|
140.98
|
760
|
0.68
|
0.65
|
0.02
|
358
|
0.61
|
0.03
|
0.03
|
C4
|
Ag-Pb-Zn
|
ZK405C401
|
166.36
|
167.94
|
777
|
1.58
|
1.22
|
0.02
|
11
|
3.15
|
0.05
|
0.01
|
C4
|
Ag-Pb-Zn
|
ZK405C401
|
242.54
|
243.15
|
744
|
0.61
|
0.45
|
0.02
|
25
|
7.03
|
0.16
|
0.02
|
C4E
|
Ag-Pb-Zn
|
ZK417C1001
|
313.09
|
313.55
|
738
|
0.46
|
0.45
|
2.22
|
1
|
0.02
|
0.01
|
0.01
|
C1_1
[1]
|
Au
|
ZK50AC901
|
90.32
|
92.48
|
816
|
2.16
|
2.07
|
4.23
|
15
|
0.04
|
0.04
|
0.01
|
C9
|
Au
|
ZK50AC903
|
9.26
|
9.99
|
837
|
0.73
|
0.10
|
0.26
|
18
|
3.94
|
1.68
|
0.01
|
C9_2
[1]
|
Ag-Pb-Zn
|
ZK50C903
|
0.00
|
1.26
|
843
|
1.26
|
1.19
|
0.69
|
51
|
6.65
|
0.15
|
0.05
|
C9E
|
Au
|
ZK50C903
|
62.10
|
64.97
|
818
|
2.87
|
2.74
|
4.67
|
51
|
0.03
|
0.03
|
0.01
|
C9
|
Au
|
ZK50C903
|
69.13
|
70.71
|
815
|
1.58
|
1.51
|
0.39
|
36
|
2.01
|
3.63
|
0.25
|
C9a
[1]
|
Au
|
ZK51AC902
|
221.76
|
222.92
|
780
|
1.16
|
0.76
|
3.38
|
4
|
0.01
|
0.02
|
0.01
|
C9
|
Au
|
ZK51BC902
|
45.17
|
45.93
|
787
|
0.76
|
0.60
|
0.03
|
48
|
3.41
|
0.05
|
0.12
|
C9W
[1]
|
Au
|
ZK51C902
|
100.96
|
102.45
|
784
|
1.49
|
1.10
|
3.86
|
10
|
0.04
|
0.02
|
0.01
|
C9_1
|
Au
|
ZK51C902
|
195.68
|
197.13
|
779
|
1.45
|
1.07
|
2.00
|
4
|
0.01
|
0.02
|
0.01
|
C9
|
Au
|
ZK51C902
|
205.58
|
207.42
|
779
|
1.84
|
1.36
|
3.37
|
2
|
0.00
|
0.01
|
0.01
|
C9a
|
Au
|
ZKDB05AC4E001
|
97.80
|
98.36
|
872
|
0.56
|
0.51
|
0.23
|
455
|
1.04
|
0.01
|
3.59
|
C4_1
|
Ag-Pb-Zn
|
ZKDB05C4E005
|
160.81
|
162.51
|
837
|
1.70
|
1.66
|
0.02
|
68
|
15.48
|
0.50
|
0.16
|
C4E
|
Ag-Pb-Zn
|
ZKDB402C7602
|
97.51
|
99.44
|
815
|
1.93
|
1.68
|
1.39
|
31
|
0.05
|
0.04
|
0.01
|
C9
|
Au
|
ZKDB402C7603
|
165.91
|
168.39
|
759
|
2.48
|
2.15
|
2.59
|
5
|
0.04
|
0.10
|
0.01
|
C9
|
Au
|
ZKDB403AC7601
|
25.50
|
28.50
|
1,006
|
3.00
|
2.78
|
1.76
|
6
|
0.02
|
0.06
|
0.01
|
C77
[1]
|
Au
|
ZKDB403AC7601
|
34.10
|
35.20
|
999
|
1.10
|
1.02
|
4.52
|
3
|
0.01
|
0.01
|
0.03
|
C77E
[1]
|
Au
|
ZKDB403AC7602
|
22.80
|
24.35
|
1,010
|
1.55
|
1.47
|
5.07
|
19
|
0.01
|
0.02
|
0.01
|
C77
|
Au
|
ZKDB409C7602
|
244.77
|
245.77
|
844
|
1.00
|
0.94
|
2.61
|
1
|
0.01
|
0.00
|
0.01
|
C8_1
|
Au
|
ZKDB51AC901
|
95.54
|
96.58
|
830
|
1.04
|
0.98
|
3.46
|
1
|
0.00
|
0.00
|
0.01
|
C9
|
Au
|
ZKDB51AC905
|
81.96
|
83.23
|
848
|
1.27
|
0.74
|
2.86
|
64
|
0.73
|
0.52
|
0.02
|
C9
|
Au
|
ZKDB51AC906
|
104.26
|
105.51
|
856
|
1.25
|
1.24
|
2.06
|
2
|
0.00
|
0.00
|
0.01
|
C9
|
Au
|
ZKDB51BC902
|
81.99
|
85.56
|
816
|
3.57
|
3.28
|
7.17
|
15
|
0.01
|
0.01
|
0.01
|
C9
|
Au
|
ZKDB51C903
|
74.54
|
81.71
|
812
|
7.17
|
5.74
|
2.92
|
4
|
0.01
|
0.01
|
0.01
|
C9
|
Au
|
incl
|
74.54
|
75.93
|
812
|
1.39
|
1.12
|
8.93
|
9
|
0.01
|
0.01
|
0.01
|
C9
|
Au
|
ZKDB51C907
|
72.97
|
73.57
|
835
|
0.60
|
0.60
|
1.73
|
64
|
0.22
|
0.09
|
0.01
|
C9
|
Au
|
ZKDB51C908
|
72.37
|
73.39
|
826
|
1.02
|
0.97
|
2.55
|
41
|
0.17
|
0.09
|
0.01
|
C9
|
Au
|
ZKDB52C902
|
121.08
|
122.72
|
829
|
1.64
|
1.52
|
2.55
|
1
|
0.00
|
0.01
|
0.01
|
C9E
|
Au
|
ZKDB53AC903
|
72.35
|
73.57
|
833
|
1.22
|
1.08
|
1.91
|
33
|
0.05
|
0.34
|
0.01
|
C9
|
Au
|
ZKDB53AC906
|
130.02
|
132.68
|
807
|
2.66
|
2.19
|
1.44
|
43
|
0.09
|
0.13
|
0.01
|
C9
|
Au
|
ZKDB53C904
|
147.90
|
148.54
|
737
|
0.64
|
0.37
|
1.04
|
29
|
5.44
|
3.74
|
0.04
|
C8
|
Ag-Pb-Zn
|
ZKDB53C905
|
79.61
|
81.00
|
834
|
1.39
|
1.33
|
2.59
|
18
|
0.11
|
0.11
|
0.01
|
C9
|
Au
|
ZKDB53C906
|
77.85
|
79.25
|
829
|
1.40
|
1.36
|
5.40
|
13
|
0.02
|
0.01
|
0.01
|
C9
|
Au
|
ZKDB55C901
|
118.79
|
119.93
|
820
|
1.14
|
0.94
|
5.24
|
32
|
0.14
|
0.20
|
0.01
|
C9
|
Au
|
Tunneling Programs at the DCG
Mine
A total of 4,377 m of exploration
tunnels have been developed at the DCG mine during this period. The
exploration tunneling, comprised of drifting, cross-cutting and
raising, was driven along and across major mineralized vein
structures to upgrade the drill-defined mineral resources, and to
test for new parallel and splay structures (Table 2).
Table 2: Summary of the tunneling programs at the DCG
mine
Major Target
Veins
|
Elevation
(m)
|
Total
Tunneling
(m)
|
Channel
Samples
Collected
|
Drift
Included
(m)
|
Total
Mineralization Exposed by Drifts [1]
|
Length
(m)
|
True
Width
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
C4, C4E, C9,
C9_1, C76
|
750-900
|
4,377
|
1,360
|
1,689
|
346
|
0.63
|
57
|
2.66
|
0.16
|
2.35
|
0.02
|
[1] Mineralization is
defined by silver equivalent value (AgEq) greater than or equal to
125 g/t at the DCG mine.
(Formula used for AgEq calculation: AgEq = Ag g/t + 70.15 * Au g/t
+ 35.91 * Pb% + 21.9 * Zn%)
|
Highlights of selected mineralized zones exposed in the
tunnels:
- Cross-cut DCG-XPD-C4-850-403SMW-CM2 exposed
mineralization 1.18 m wide (true
width), grading 0.63 g/t Au, 2,427 g/t Ag, 2.60% Pb, 0.01% Zn, and
7.26% Cu within vein C4 at an elevation of 850 m;
- Cross-cut DCG-XPD-C76-800-400NMW-CM5 exposed
mineralization 5.46 m wide (true
width), grading 5.66 g/t Au, 78 g/t Ag, 1.22% Pb, 0.57% Zn, and
0.07% Cu within vein C76 at an elevation of 800 m;
- Cross-cut DCG-XPD-C76-843-400SMW-CM2 exposed
mineralization 1.17 m wide (true
width), grading 19.17 g/t Au, 54 g/t Ag, 0.15% Pb, 0.09% Zn, and
0.01% Cu within vein C76 at an elevation of 843 m;
- Drift Tunnel DCG-XPD-C9-800-53SYM exposed mineralization
38 m long and 0.93 m wide (true width), grading 2.88 g/t Au,
114 g/t Ag, 0.15% Pb, 0.19% Zn, and 0.04% Cu within vein C9 at an
elevation of 800 m; and
- Drift Tunnel DCG-XPD-C4E-850-403SYM exposed
mineralization 70 m long and
0.86 m wide (true width) grading 0.08
g/t Au, 76 g/t Ag, 7.33% Pb, 0.20% Zn, and 0.04% Cu within vein C4E
at an elevation of 850 m.
Table 3: Selected mineralized zones exposed by cross-cuts at
the DCG mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
H Width
(m)
|
True
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
DCG-XPD-C76-800-400NMW
|
C9a
|
800
|
14.50
|
15.60
|
1.10
|
1.05
|
0.87
|
7.00
|
18
|
0.17
|
0.03
|
0.01
|
DCG-XPD-C9-888-51SYM-CM1
|
C9
|
888
|
1.60
|
4.50
|
2.90
|
2.89
|
1.78
|
0.87
|
52
|
0.12
|
0.11
|
0.01
|
DCG-XPD-C76-800-400NMW
|
C9
|
800
|
1.80
|
3.80
|
2.00
|
1.84
|
1.53
|
2.63
|
316
|
0.51
|
0.54
|
0.05
|
DCG-XPD-C76-800-400NMW-CM5
|
C9
|
800
|
2.40
|
4.40
|
2.00
|
0.55
|
0.35
|
0.02
|
50
|
12.77
|
0.31
|
0.04
|
DCG-XPD-C9-800-51NYM-CM2
|
C9
|
800
|
13.30
|
20.20
|
6.90
|
6.83
|
3.62
|
2.91
|
8
|
0.05
|
0.02
|
0.00
|
DCG-XPD-C9-800-53NYM-CM2
|
C9
|
800
|
1.80
|
4.80
|
3.00
|
2.98
|
2.58
|
0.88
|
46
|
0.19
|
0.04
|
0.00
|
DCG-XPD-C9-800-53SMW-CM1
|
C9
|
800
|
0.85
|
2.35
|
1.50
|
1.49
|
1.06
|
5.12
|
46
|
0.12
|
0.01
|
0.01
|
DCG-XPD-C9-800-53SMW-CM2
|
C9
|
800
|
5.60
|
8.00
|
2.40
|
2.08
|
1.50
|
1.65
|
24
|
0.34
|
0.55
|
0.01
|
DCG-XPD-C9-800-53SMW-CM3
|
C9
|
800
|
1.40
|
2.20
|
0.80
|
0.79
|
0.57
|
1.37
|
11
|
0.10
|
0.09
|
0.01
|
DCG-XPD-C9-800-53SMW-CM6
|
C9
|
800
|
6.40
|
7.10
|
0.70
|
0.61
|
0.40
|
0.19
|
130
|
0.15
|
0.18
|
0.01
|
DCG-XPD-C9-750-50AZCM
|
C9
|
750
|
1.00
|
3.20
|
2.20
|
1.85
|
1.37
|
3.94
|
111
|
0.79
|
0.15
|
0.04
|
DCG-XPD-C9-800-51AWCM
|
C8_1
|
800
|
0.00
|
1.10
|
1.10
|
0.57
|
0.48
|
0.75
|
63
|
8.09
|
0.67
|
0.08
|
DCG-XPD-C76-843-400NMW-CM1
|
C76
|
843
|
2.00
|
2.70
|
0.70
|
0.68
|
0.50
|
7.54
|
91
|
0.69
|
0.37
|
0.01
|
DCG-XPD-C76-843-400SMW-CM1
|
C76
|
843
|
3.30
|
5.05
|
1.75
|
2.84
|
2.33
|
3.53
|
40
|
0.09
|
0.13
|
0.01
|
DCG-XPD-C76-843-400SMW-CM2
|
C76
|
843
|
1.40
|
3.00
|
1.60
|
1.60
|
1.17
|
19.17
|
54
|
0.15
|
0.09
|
0.01
|
DCG-XPD-C76-843-400SMW-CM3
|
C76
|
843
|
2.00
|
2.80
|
0.80
|
0.80
|
0.57
|
6.49
|
54
|
0.17
|
0.42
|
0.01
|
DCG-XPD-C76-800-400NMW-CM1
|
C76
|
800
|
0.90
|
1.25
|
0.35
|
0.35
|
0.21
|
4.30
|
17
|
0.05
|
0.07
|
0.01
|
DCG-XPD-C76-800-400NMW-CM2
|
C76
|
800
|
2.90
|
3.70
|
0.80
|
0.75
|
0.52
|
3.25
|
26
|
0.08
|
0.04
|
0.01
|
DCG-XPD-C76-800-400NMW-CM3
|
C76
|
800
|
4.40
|
8.40
|
4.00
|
2.68
|
1.79
|
5.28
|
26
|
3.00
|
0.10
|
0.08
|
incl
|
C76
|
800
|
7.50
|
8.40
|
0.90
|
0.60
|
0.40
|
21.79
|
63
|
0.23
|
0.16
|
0.01
|
DCG-XPD-C76-800-400NMW-CM4
|
C76
|
800
|
2.00
|
2.60
|
0.60
|
0.55
|
0.40
|
3.32
|
61
|
2.68
|
0.25
|
0.14
|
DCG-XPD-C76-800-400NMW-CM5
|
C76
|
800
|
0.00
|
7.40
|
7.40
|
7.24
|
5.46
|
5.66
|
78
|
1.22
|
0.57
|
0.07
|
DCG-XPD-C76-800-400NMW-CM6
|
C76
|
800
|
0.00
|
12.60
|
12.60
|
12.55
|
9.33
|
2.07
|
25
|
0.63
|
0.12
|
0.03
|
DCG-XPD-C4-850-403SMW-CM2
|
C4
|
850
|
3.70
|
5.00
|
1.30
|
1.28
|
1.18
|
0.63
|
2,427
|
2.60
|
0.01
|
7.26
|
DCG-XPD-C4-850-403SMW-CM3
|
C4
|
850
|
2.65
|
4.23
|
1.58
|
1.58
|
1.53
|
2.24
|
516
|
3.36
|
0.20
|
1.01
|
Table 4: Selected mineralized zones exposed by drift
tunneling at the DCG mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
Length
(m)
|
Ore
Length
(m)
|
H Width
(m)
|
True
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
DCG-XPD-C4E-900-407NYM
|
C4E
|
900
|
300
|
81
|
0.75
|
0.66
|
0.02
|
46
|
7.02
|
0.23
|
0.03
|
DCG-XPD-C4E-850-403SYM
|
C4E
|
850
|
253
|
70
|
1.03
|
0.86
|
0.08
|
76
|
7.33
|
0.20
|
0.04
|
DCG-XPD-C9-843-53SYM
|
C9
|
843
|
144
|
54
|
0.79
|
0.57
|
2.37
|
54
|
0.14
|
0.15
|
0.01
|
DCG-XPD-C9-800-53SYM
|
C9
|
800
|
54
|
38
|
1.39
|
0.93
|
2.88
|
114
|
0.15
|
0.19
|
0.04
|
DCG-XPD-C9-800-53NYM
|
C9
|
800
|
164
|
45
|
0.81
|
0.54
|
1.78
|
26
|
0.04
|
0.05
|
0.01
|
DCG-XPD-C9-800-51ANYM
|
C9
|
800
|
48
|
20
|
1.16
|
0.77
|
5.19
|
17
|
0.13
|
0.15
|
0.00
|
DCG-XPD-C9-843-53SMW
|
C9a
|
843
|
120
|
38
|
0.30
|
0.17
|
9.23
|
28
|
0.02
|
0.02
|
0.01
|
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 SGS in
Tianjin, China. All three labs are
ISO9000 certified analytical labs. For analysis,
the sample is dried and crushed to minus 1 mm and then
split into 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 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 1 mm is made and kept in the laboratory archives. Gold is
analysed by fire assay with AAS finish, while 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 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;
legislative and regulatory initiatives addressing global climate
change or other environmental concerns; 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, 2021 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.
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 feasibiity 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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SOURCE Silvercorp Metals Inc