Trading Symbol
TSX: SVM
NYSE American: SVM
VANCOUVER, BC, Jan. 12, 2022 /PRNewswire/ - Silvercorp Metals
Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American:
SVM) is pleased to report additional high-grade intercepts from its
2021 exploration program at the HPG mine. Extensive exploration
drilling and tunneling are ongoing at the HPG mine and all other
mines in the Ying Mining District, Henan
Province, China.
From June 1 to December 31, 2021,
24,369 metres ("m") from a total of 153 diamond drill holes,
including 89 underground holes and 64 surface holes, were completed
at the HPG mine. Assay results for 134 holes have been received,
with 82 holes intercepting mineralization. Currently, there are
nine rigs drilling at the HPG mine.
The strategy of the drilling program is threefold: 1) drill
above or beneath the stopes that were previously mined but stopped
due to more variation in grades, thickness, and attitudes of the
vein structures than previously modeled to easily obtain ore; 2)
drill for gold-silver -lead-zinc veins in the resource area at
higher elevations near the surface and southwest side to expand the
resources; and 3) drill for a rhyolitic breccia dyke that is
prominently exposed in the middle of the mining area and
mineralized with gold-silver-lead-zinc.
Drilling Above or Beneath Previously Mined Stopes
Most holes drilled during this period targeted blocks containing
known ore veins in production areas that were previously missed due
to limited drilling or tunneling, changes in the strikes and dips,
and/or pinch-swelling of the pay-zones within the veins. The
high-grade intercepts are mainly associated with the
southwest-striking H5 series, H15 series, H16 series, H17 series,
H11, and H14 veins. Since access tunnels are already in place, any
high-grade mineralization discovered can quickly be converted to
reserves and mined.
Highlights of the high-grade gold-silver-lead-zinc intercepts
near the surface or previously mined stopes:
- Underground hole ZK2542 intersected a 1.91 m interval (1.64
m true width) of vein H16 grading 24.66 g/t gold ("Au"), 56
g/t silver ("Ag"), 3.28% lead ("Pb"), 2.12% zinc ("Zn"), and 0.11%
copper ("Cu") from 29.11 m depth, at
an elevation of 527 m;
- Underground hole ZK2314 intersected a 0.75 m interval (0.48
m true width) of vein H15 grading 21.00 g/t Au, 54 g/t Ag,
0.45% Pb, 0.09% Zn, and 0.24% Cu from 132.91
m depth, at an elevation of 444
m; and
- Underground hole ZK24N04 intersected a 2.45 m interval (2.10
m true width) of vein H15 grading 0.65 g/t Au, 155 g/t Ag,
14.93% Pb, 0.03% Zn, and 0.42% Cu from 160.36 m depth, at an elevation of 549 m.
Near Surface Mineralization in Gold-Silver-Lead-Zinc
Veins
Nineteen diamond drill holes were drilled from surface, with
additional underground diamond drilling employed to test for near
surface mineralization above 520 m
within the HPG resource area. The drilling intersected
gold-silver-lead-zinc veins including the H9 series, H11 series,
H14 series, H15 series, H16 series, H17 series, and H10_1. The
purpose of this drilling was to extend the resources to higher
elevations within the current resource area.
Highlights of the high-grade gold-silver-lead-zinc intercepts
near the surface or previously mined stopes:
- Surface hole ZK2419 intersected a 2.20 m interval (1.90
m true width) of vein H17 grading 22.99 g/t Au, 35 g/t Ag,
0.49% Pb, 0.07% Zn, and 0.02% Cu from 78.57
m depth, at an elevation of 817
m; and
- Surface hole ZK1218 intersected a 1.36 m interval (1.22
m true width) of vein H17 grading 10.54 g/t Au, 17 g/t Ag,
0.60% Pb, 0.02% Zn, and 0.05% Cu from 89.69
m depth, at an elevation of 783
m.
Drilling High-Grade Gold-Silver-Lead-Zinc Veins at the
Southwest Side of the Resource Area
Surface and underground diamond drilling at the southwest side
of the resource area intersected high-grade gold-silver-lead-zinc
veins of the H20W, H12_1, H39, H41, and H40 series, at an elevation
between 435 m and 655 m. These vein structures strike north to
north-northeast, and have vertical to sub-vertical dips to the
east. Among them, H41W is a newly discovered north-northeast
striking high-grade vein that was intersected during this
period.
Highlights of the high-grade gold-silver-lead-zinc intercepts at
the southwest side of the resource area:
- Underground hole ZK11206 intersected a 1.33 m interval (1.10
m true width) of vein H41W grading 2.86 g/t Au, 1,469 g/t
Ag, 3.69% Pb, 2.33% Zn, and 0.13% Cu from 66.90 m depth, at an elevation of 613 m;
- Underground hole ZK11207 intersected a 0.50 m interval (0.28
m true width) of vein H41W grading 0.18 g/t Au, 2,642 g/t
Ag, 0.63% Pb, 0.21% Zn, and 0.09% Cu from 62.50 m depth, at an elevation of 613 m;
- Underground hole ZK11604 intersected a 1.67 m interval (1.12
m true width) of vein H40 grading 7.31 g/t Au, 100 g/t Ag,
1.78% Pb, 0.19% Zn, and 0.03% Cu from 266.55
m depth, at an elevation of 532
m; and
- Surface hole ZK11406 intersected a 0.52 m interval (0.31
m true width) of vein H20W grading 14.60 g/t Au, 15 g/t Ag,
0.07% Pb, 0.09% Zn, and 0.02% Cu from 199.41
m depth, at an elevation of 527
m.
Drilling for a Rhyolitic Breccia Dyke
The breccia dyke extends along a northwest trend for
approximately two kilometres ("km"), has a thickness from 25 to
200 m, and dips steeply to the
northeast. Hole ZK1315 from this drill program intercepted a
significant width of mineralization which is associated with
siderite-ankerite-pyrite, and minor galena, sphalerite, and
chalcopyrite in the matrix of the breccia. It is possible all the
gold-silver -lead-zinc veins mined at the HPG mine have cut the
breccia dyke.
Hole ZK1315 intersected an 18.41 m
interval grading 1.42 g/t Au, 122 g/t Ag, 0.97% Pb, 0.56% Zn, and
0.14% Cu in the breccia (Table 1). An earlier drill hole
ZK1511 from nearby also intercepted a 31.8
m interval grading 1.14 g/t Au, 52 g/t Ag, 0.3% Pb, and
0.25% Zn.
This discovery of broad mineralization in the breccia dyke has
been confirmed by a cross-cut tunnel PD2-570-15WCM, which cut a
20.7 m interval grading 1.06 g/t Au,
122 g/t Ag, 1.33% Pb, 1.48% Zn, and 0.14% Cu at an elevation of
570 m (Table 4).
Table 1: Assay results for 103 drill holes from the HPG
mine
Hole
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
Interval
(m)
|
True Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
Vein
|
ZK02N02
|
107.08
|
108.99
|
442
|
1.91
|
0.82
|
0.13
|
11
|
0.62
|
3.64
|
0.01
|
H5
|
ZK02N21
|
57.75
|
59.23
|
488
|
1.48
|
1.32
|
0.05
|
103
|
1.10
|
0.35
|
0.03
|
H5
|
ZK04N01
|
109.45
|
110.99
|
533
|
1.54
|
1.18
|
0.89
|
43
|
2.01
|
0.21
|
0.14
|
H5
|
ZK04N03
|
117.82
|
118.35
|
536
|
0.53
|
0.38
|
0.36
|
121
|
5.29
|
0.17
|
0.08
|
H5
|
ZK04N04
|
136.53
|
137.45
|
489
|
0.92
|
0.89
|
0.24
|
73
|
3.16
|
2.41
|
0.06
|
H5
|
ZK04N05
|
109.22
|
109.75
|
539
|
0.53
|
0.40
|
0.30
|
221
|
1.72
|
0.07
|
0.03
|
H5a
|
ZK04N05
|
123.74
|
124.32
|
531
|
0.58
|
0.43
|
0.59
|
214
|
0.18
|
0.04
|
0.11
|
H5
|
ZK04N12
|
77.50
|
78.26
|
487
|
0.76
|
0.66
|
0.35
|
49
|
4.71
|
0.93
|
0.06
|
H5
|
ZK06N02
|
88.33
|
88.87
|
552
|
0.54
|
0.47
|
31.00
|
23
|
0.58
|
0.04
|
0.03
|
H5a
|
ZK0722
|
117.30
|
117.84
|
546
|
0.54
|
0.49
|
0.16
|
198
|
0.73
|
0.30
|
0.09
|
H11E
|
ZK0724
|
58.02
|
60.41
|
590
|
2.39
|
1.86
|
4.42
|
78
|
1.00
|
0.28
|
0.05
|
H15W
|
ZK0725
|
18.06
|
18.77
|
615
|
0.71
|
0.56
|
2.23
|
90
|
0.05
|
0.05
|
0.01
|
H10_1
|
ZK07N04
|
26.18
|
28.17
|
865
|
1.99
|
1.03
|
1.01
|
252
|
0.73
|
0.91
|
0.04
|
H5
|
ZK07N05
|
18.58
|
19.71
|
501
|
1.13
|
0.94
|
0.52
|
58
|
0.78
|
0.24
|
0.08
|
H5
|
ZK07N11
|
9.83
|
11.13
|
462
|
1.30
|
1.09
|
4.36
|
21
|
0.04
|
0.01
|
0.01
|
B01
|
ZK07N11
|
87.52
|
88.05
|
444
|
0.53
|
0.44
|
2.18
|
34
|
3.18
|
0.62
|
0.05
|
H10_1W
|
ZK0921
|
127.98
|
128.93
|
628
|
0.95
|
0.82
|
2.48
|
76
|
0.47
|
0.40
|
0.03
|
H16
|
ZK09N19
|
0.00
|
1.46
|
464
|
1.46
|
1.12
|
0.21
|
102
|
0.11
|
0.05
|
0.71
|
B6
|
ZK09N19
|
44.31
|
44.83
|
450
|
0.52
|
0.31
|
0.85
|
159
|
1.48
|
1.11
|
0.05
|
H5_2
|
ZK09N20
|
8.26
|
9.46
|
457
|
1.20
|
0.79
|
0.78
|
74
|
0.09
|
0.02
|
0.38
|
H5E1
|
ZK09N22
|
23.44
|
24.35
|
457
|
0.91
|
0.86
|
0.06
|
159
|
0.72
|
1.25
|
0.03
|
H5W
|
ZK11006
|
109.01
|
109.71
|
581
|
0.70
|
0.61
|
1.58
|
160
|
1.40
|
0.43
|
0.42
|
H41a
|
ZK11006
|
247.01
|
248.21
|
483
|
1.20
|
0.95
|
1.18
|
13
|
0.40
|
2.31
|
0.00
|
H40
|
ZK11206
|
66.90
|
68.23
|
613
|
1.33
|
1.10
|
2.86
|
1,469
|
3.69
|
2.33
|
0.13
|
H41W
[1]
|
ZK11207
|
62.50
|
63.00
|
613
|
0.50
|
0.28
|
0.18
|
2,642
|
0.63
|
0.21
|
0.09
|
H41W
|
ZK11208
|
112.37
|
112.97
|
577
|
0.60
|
0.59
|
0.87
|
162
|
1.03
|
1.11
|
0.11
|
H42E
|
ZK11208
|
233.37
|
233.88
|
490
|
0.51
|
0.47
|
0.55
|
137
|
2.29
|
1.96
|
0.24
|
H20W
|
ZK11208
|
244.84
|
245.37
|
481
|
0.53
|
0.40
|
20.30
|
10
|
0.04
|
0.01
|
0.01
|
H40
|
ZK11208
|
249.82
|
251.42
|
478
|
1.60
|
1.21
|
5.13
|
10
|
0.41
|
0.42
|
0.05
|
H40W
|
ZK11404
|
68.27
|
69.02
|
622
|
0.75
|
0.63
|
1.56
|
16
|
0.33
|
0.26
|
0.02
|
H41W
|
ZK11404
|
202.48
|
203.53
|
550
|
1.05
|
0.70
|
4.29
|
22
|
0.34
|
0.11
|
0.03
|
H17
|
ZK11406
|
183.96
|
184.54
|
537
|
0.58
|
0.33
|
2.32
|
5
|
0.02
|
0.02
|
0.01
|
H17
|
ZK11406
|
199.41
|
199.93
|
527
|
0.52
|
0.31
|
14.60
|
15
|
0.07
|
0.09
|
0.02
|
H20W
|
ZK11406
|
222.92
|
224.69
|
511
|
1.77
|
1.23
|
0.72
|
56
|
0.62
|
0.20
|
1.09
|
H17_1
|
ZK11407
|
68.53
|
70.58
|
608
|
2.05
|
1.59
|
0.89
|
45
|
0.85
|
2.10
|
0.08
|
H41W
|
ZK11407
|
223.33
|
224.78
|
492
|
1.45
|
1.27
|
0.95
|
114
|
0.47
|
0.17
|
0.18
|
H20W
|
ZK11408
|
72.37
|
72.89
|
610
|
0.52
|
0.40
|
0.26
|
41
|
5.81
|
1.43
|
0.06
|
H41W
|
ZK11604
|
43.88
|
44.58
|
638
|
0.70
|
0.57
|
0.88
|
75
|
0.10
|
0.16
|
0.05
|
H41a
|
ZK11604
|
72.27
|
74.30
|
624
|
2.03
|
1.65
|
1.60
|
114
|
0.78
|
1.33
|
0.11
|
H41W
|
ZK11604
|
76.50
|
77.23
|
622
|
0.73
|
0.60
|
0.21
|
26
|
3.23
|
4.12
|
0.02
|
H41W1
[1]
|
ZK11604
|
210.38
|
210.88
|
558
|
0.50
|
0.32
|
3.21
|
97
|
0.59
|
0.31
|
0.21
|
H16_3
|
ZK11604
|
266.55
|
268.22
|
532
|
1.67
|
1.12
|
7.31
|
100
|
1.78
|
0.19
|
0.03
|
H40
|
Including
|
266.55
|
267.57
|
532
|
1.02
|
0.68
|
9.90
|
157
|
2.70
|
0.22
|
0.03
|
H40
|
ZK11N12
|
55.19
|
56.29
|
427
|
1.10
|
0.68
|
0.11
|
111
|
0.14
|
0.05
|
0.38
|
H5
|
ZK11N13
|
2.56
|
4.66
|
462
|
2.10
|
1.21
|
0.98
|
78
|
0.08
|
0.02
|
0.41
|
B6
[1]
|
ZK11N13
|
65.35
|
70.12
|
449
|
4.77
|
2.11
|
0.50
|
111
|
0.29
|
0.29
|
0.20
|
H5_2
|
ZK1218
|
89.69
|
91.05
|
783
|
1.36
|
1.22
|
10.54
|
17
|
0.60
|
0.02
|
0.05
|
H17
|
ZK12207
|
42.65
|
43.66
|
519
|
1.01
|
0.78
|
3.28
|
6
|
0.18
|
0.27
|
0.01
|
H11
|
ZK12N03
|
92.37
|
94.52
|
482
|
2.15
|
1.72
|
0.06
|
49
|
10.23
|
0.97
|
0.02
|
H4
|
Including
|
93.72
|
94.52
|
482
|
0.80
|
0.64
|
0.13
|
101
|
22.69
|
2.14
|
0.04
|
H4
|
ZK1310-1
|
157.21
|
158.13
|
630
|
0.92
|
0.56
|
2.14
|
177
|
17.09
|
0.29
|
0.07
|
H10_1
|
ZK1314
|
155.16
|
156.21
|
622
|
1.05
|
0.33
|
2.37
|
86
|
0.93
|
1.69
|
0.06
|
H9
|
ZK1315
|
202.28
|
220.69
|
573
|
18.41
|
N/A
[2]
|
1.42
|
122
|
0.97
|
0.56
|
0.14
|
Breccia
Dyke [1]
|
ZK1321
|
87.06
|
87.63
|
690
|
0.57
|
N/A
|
1.18
|
19
|
0.37
|
0.23
|
0.02
|
N/A
[3]
|
ZK1322
|
132.00
|
132.61
|
667
|
0.61
|
0.50
|
8.45
|
30
|
0.31
|
0.07
|
0.02
|
H9
|
ZK15N21
|
0.75
|
4.19
|
627
|
1.54
|
2.60
|
0.67
|
11
|
1.12
|
1.01
|
0.03
|
H10_1a
|
ZK15N22
|
23.84
|
27.69
|
620
|
3.85
|
3.79
|
0.54
|
62
|
6.05
|
0.32
|
0.02
|
H39_1a
|
ZK15S03
|
172.52
|
174.88
|
636
|
2.36
|
1.51
|
0.72
|
58
|
0.42
|
0.02
|
0.24
|
H17_1
|
ZK15S04
|
103.46
|
105.03
|
647
|
1.57
|
0.97
|
4.35
|
45
|
1.31
|
0.26
|
0.01
|
H14W
|
ZK15S05
|
172.79
|
173.32
|
553
|
0.53
|
0.21
|
7.66
|
22
|
1.85
|
3.94
|
0.30
|
H17_1
|
ZK1830
|
47.53
|
49.08
|
782
|
1.55
|
1.35
|
1.82
|
13
|
0.04
|
0.03
|
0.01
|
H17
|
ZK2033
|
94.63
|
95.60
|
755
|
0.97
|
0.76
|
3.14
|
21
|
0.01
|
0.05
|
0.01
|
H17
|
ZK2035
|
69.11
|
70.78
|
765
|
1.67
|
1.66
|
1.57
|
6
|
0.04
|
0.06
|
0.01
|
H17
|
ZK2036
|
42.82
|
44.47
|
796
|
1.65
|
1.61
|
3.03
|
32
|
0.05
|
0.04
|
0.02
|
H17
|
ZK2037
|
57.31
|
58.58
|
770
|
1.27
|
1.04
|
8.68
|
28
|
0.07
|
0.12
|
0.05
|
H17
|
ZK2314
|
3.18
|
4.90
|
536
|
1.72
|
1.00
|
1.37
|
17
|
1.95
|
0.72
|
0.03
|
H14
|
ZK2314
|
132.91
|
133.66
|
444
|
0.75
|
0.48
|
21.00
|
54
|
0.45
|
0.09
|
0.24
|
H15
|
ZK2314
|
146.14
|
147.38
|
435
|
1.24
|
0.79
|
0.92
|
106
|
0.80
|
0.06
|
0.39
|
H20W
|
ZK2341
|
71.08
|
72.78
|
795
|
1.70
|
1.11
|
0.65
|
137
|
3.64
|
4.76
|
0.03
|
H16
|
ZK2349
|
88.10
|
90.24
|
768
|
2.14
|
0.94
|
0.18
|
171
|
1.32
|
0.23
|
0.09
|
H11
|
ZK2349
|
151.63
|
152.30
|
723
|
0.67
|
0.52
|
0.90
|
13
|
0.92
|
1.34
|
0.03
|
N/A
|
ZK2349
|
166.28
|
166.94
|
712
|
0.66
|
0.39
|
0.85
|
141
|
0.44
|
0.27
|
0.43
|
H9
|
ZK2349
|
248.31
|
249.29
|
654
|
0.98
|
0.59
|
1.84
|
4
|
0.07
|
0.03
|
0.01
|
H39_1
|
ZK2349
|
255.80
|
257.17
|
649
|
1.37
|
0.27
|
2.80
|
8
|
0.08
|
0.02
|
0.01
|
H12_1
|
ZK2419
|
78.57
|
80.77
|
817
|
2.20
|
1.90
|
22.99
|
35
|
0.49
|
0.07
|
0.02
|
H17
|
Including
|
79.22
|
80.77
|
816
|
1.55
|
1.34
|
32.40
|
42
|
0.63
|
0.07
|
0.03
|
H17
|
ZK24N03
|
154.46
|
155.24
|
557
|
0.78
|
0.63
|
0.60
|
56
|
1.42
|
0.05
|
0.18
|
H15
|
ZK24N04
|
160.36
|
162.81
|
549
|
2.45
|
2.10
|
0.65
|
155
|
14.93
|
0.03
|
0.42
|
H15
|
ZK24N10
|
157.27
|
157.93
|
617
|
0.66
|
0.50
|
0.66
|
23
|
0.92
|
3.38
|
0.01
|
H15W
|
ZK2542
|
29.11
|
31.02
|
527
|
1.91
|
1.64
|
24.66
|
56
|
3.28
|
2.12
|
0.11
|
H16
|
including
|
29.89
|
31.02
|
527
|
1.13
|
0.97
|
41.06
|
87
|
5.48
|
3.51
|
0.17
|
H16
|
ZK2542
|
52.06
|
52.96
|
518
|
0.90
|
0.80
|
3.20
|
7
|
0.22
|
0.16
|
0.01
|
H16_1
|
ZK2542
|
109.59
|
110.61
|
496
|
1.02
|
0.55
|
4.25
|
60
|
1.66
|
1.33
|
0.27
|
H20Wa
|
ZK2542
|
119.52
|
120.07
|
492
|
0.55
|
0.41
|
2.32
|
4
|
0.62
|
0.18
|
0.02
|
H20W
|
ZK2542
|
141.01
|
141.51
|
483
|
0.50
|
0.37
|
4.43
|
4
|
0.11
|
0.17
|
0.01
|
H17
|
ZK2544
|
32.89
|
34.42
|
522
|
1.53
|
1.53
|
1.10
|
9
|
0.34
|
0.96
|
0.02
|
H16
|
ZK2544
|
119.37
|
121.03
|
479
|
1.66
|
1.64
|
2.43
|
20
|
1.54
|
0.28
|
0.06
|
H20W
|
ZK2545
|
3.91
|
4.53
|
537
|
0.62
|
0.56
|
3.20
|
3
|
0.04
|
0.06
|
0.00
|
H14
|
ZK2545
|
27.90
|
30.21
|
525
|
2.31
|
2.04
|
3.00
|
16
|
0.74
|
0.74
|
0.03
|
H16
|
ZK2545
|
95.18
|
95.78
|
496
|
0.60
|
0.57
|
3.25
|
5
|
0.03
|
0.03
|
0.01
|
H15
|
ZK2545
|
118.27
|
121.76
|
485
|
3.49
|
2.00
|
2.06
|
34
|
0.29
|
0.35
|
0.19
|
H20W
|
ZK2546
|
101.97
|
102.85
|
520
|
0.88
|
0.72
|
3.44
|
94
|
0.97
|
0.16
|
0.05
|
H20W
|
ZK2547
|
342.39
|
343.05
|
580
|
0.66
|
0.30
|
1.70
|
61
|
0.55
|
0.03
|
0.01
|
H41W
|
ZK2548
|
15.93
|
16.48
|
796
|
0.55
|
0.50
|
0.03
|
21
|
7.25
|
2.17
|
0.02
|
H11
|
ZK2548
|
81.94
|
83.21
|
758
|
1.27
|
1.16
|
0.05
|
82
|
1.98
|
0.84
|
0.14
|
H14
|
ZK2548
|
187.62
|
188.15
|
697
|
0.53
|
0.38
|
8.72
|
35
|
6.25
|
1.12
|
0.02
|
H16_3
|
ZK2548
|
270.84
|
272.20
|
651
|
1.36
|
0.85
|
0.35
|
85
|
0.23
|
0.38
|
0.77
|
H17
|
ZK2548
|
306.72
|
307.24
|
631
|
0.52
|
0.45
|
0.89
|
65
|
0.29
|
0.72
|
0.01
|
H20W
|
ZK26N02
|
153.05
|
154.38
|
593
|
1.33
|
0.92
|
0.64
|
46
|
1.94
|
0.13
|
0.02
|
H15
|
ZK26N02
|
157.24
|
157.97
|
591
|
0.73
|
0.50
|
0.07
|
40
|
2.19
|
1.11
|
0.02
|
H15_1
|
ZK2732
|
27.53
|
28.08
|
531
|
0.55
|
0.53
|
9.47
|
12
|
0.24
|
0.28
|
0.01
|
H16
|
ZK2732
|
51.23
|
51.89
|
524
|
0.66
|
0.66
|
5.61
|
7
|
0.05
|
0.06
|
0.01
|
H16_1
|
ZK2732
|
70.12
|
70.87
|
518
|
0.75
|
0.72
|
1.77
|
3
|
0.15
|
0.01
|
0.00
|
H16_3
|
ZK2732
|
150.69
|
151.20
|
495
|
0.51
|
0.28
|
4.93
|
18
|
1.04
|
4.47
|
0.12
|
H20W
|
ZK2732
|
218.43
|
219.44
|
475
|
1.01
|
0.56
|
2.66
|
45
|
0.24
|
0.37
|
0.58
|
H42
|
ZK2733
|
33.10
|
37.32
|
510
|
4.22
|
3.32
|
1.45
|
10
|
0.19
|
0.42
|
0.01
|
H16
|
ZK2733
|
255.24
|
256.76
|
324
|
1.52
|
0.65
|
1.25
|
27
|
5.99
|
1.67
|
0.02
|
H20W
|
[1] New veins.
[2] True thickness unknown.
[3] New unnamed veins.
|
Tunneling Programs at the HPG
Mine
A total of 1,436 m of exploration
tunnels were developed at the HPG mine during this period. The
exploration tunneling, which 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 (Tables 2 and 3).
Table 2: Summary of the tunneling programs at the HPG
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)
|
Au
(g/t
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
H20W, H11, H5, H5a,
H41,
H15, H5_2, H14, H3, H32, B10,
H17, H40E, H10_1, H9, H12_1
|
150-640
|
1,436
|
995
|
1,181
|
286
|
0.64
|
1.61
|
80
|
2.11
|
1.58
|
0.12
|
[1]
Mineralization is defined by silver equivalent value (AgEq) greater
than or equal to 130 g/t at the HPG mine (Formula used for AgEq
calculation: AgEq = Ag g/t + 70.15 * Au g/t + 35.91 * Pb% + 21.9 *
Zn%).
|
Table 3: Selected mineralized zones exposed by drift
tunneling at the HPG mine
Tunnel
ID
|
Vein
|
Elevation
(m)
|
Total Length
(m)
|
Ore Length
(m)
|
Horizontal
Width
(m)
|
True Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
|
Zn
(%)
|
Cu
(%)
|
PD5-H11-610-17SYM
|
H11
|
610
|
24
|
24
|
0.61
|
0.59
|
0.10
|
35
|
6.80
|
|
0.89
|
0.03
|
PD3-H17-150-34NYM
|
H17
|
150
|
40
|
20
|
1.06
|
1.03
|
0.53
|
19
|
0.72
|
|
3.08
|
0.10
|
PD3-H20W-460-27SYM
|
H20W
|
460
|
100
|
55
|
0.93
|
0.89
|
3.99
|
126
|
1.20
|
|
1.47
|
0.17
|
PD3-H3-340-0SYM
|
H3
|
340
|
50
|
10
|
0.50
|
0.32
|
0.36
|
63
|
2.11
|
|
4.49
|
0.02
|
PD5-H41-640-15SYM
|
H41
|
640
|
26
|
22
|
0.43
|
0.41
|
4.45
|
45
|
1.88
|
|
1.39
|
0.08
|
PD600-H5_2-510-7NYM
|
H5_2
|
510
|
40
|
25
|
0.54
|
0.53
|
0.15
|
42
|
5.95
|
|
0.17
|
0.06
|
PD3-H5_2-460-9SYM
|
H5_2
|
460
|
30
|
10
|
0.99
|
0.97
|
0.04
|
240
|
0.94
|
|
1.40
|
0.05
|
PD3-H5a-300-7SYM
|
H5a
|
300
|
31
|
31
|
0.72
|
0.70
|
2.75
|
67
|
1.35
|
|
0.57
|
0.05
|
W_Tunnel-H9-630-13SYM
|
H9
|
630
|
25
|
25
|
0.53
|
0.52
|
3.76
|
100
|
3.93
|
|
3.40
|
0.28
|
W_Tunnel-H9-630-13NYM
|
H9
|
630
|
34
|
29
|
0.58
|
0.55
|
0.99
|
49
|
2.37
|
|
1.02
|
0.11
|
Table 4: Selected mineralized zones exposed by crosscut
tunneling at the HPG mine
Tunnel
ID
|
Vein
|
From
(m)
|
To
(m)
|
Length
(m)
|
Elevation
(m)
|
True Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Cu
(%)
|
PD3-380-9_Bay2
|
B6
[1]
|
36.00
|
42.00
|
6.00
|
380
|
4.24
|
2.18
|
22
|
0.25
|
0.14
|
0.01
|
PD2-570-15WCM
|
Breccia dyke
[1]
|
3.00
|
23.7
|
20.7
|
570
|
N/A
[2]
|
1.06
|
122
|
1.33
|
1.48
|
0.14
|
PD600-H5a-560-6WCM
|
H5
|
148.24
|
149.46
|
1.22
|
560
|
1.22
|
0.30
|
82
|
2.60
|
1.15
|
0.08
|
PD3-H5-300-7ECM
|
H5a
|
3.84
|
4.16
|
0.32
|
300
|
0.31
|
5.64
|
373
|
2.80
|
1.63
|
0.05
|
XSD-H9-630-13ECM
|
H10_1
|
44.52
|
45.84
|
1.32
|
630
|
1.08
|
0.18
|
224
|
4.71
|
0.23
|
0.05
|
PD3-460-Decline3
|
H15
|
147.81
|
148.24
|
0.43
|
405
|
0.42
|
3.75
|
1395
|
0.78
|
12.50
|
0.40
|
[1] New veins.
[2] True width unknown.
|
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 CRMs,
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, 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;
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 feasibility 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