Trading Symbol
TSX: SVM
NYSE American: SVM
VANCOUVER, BC, June 14,
2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or
the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report
assay results from its ongoing diamond drilling program at the LMW
mine within the Ying Mining District, China.
Highlights:
Discovery of new, low angle copper-gold veins at the W Zone:
- Hole ZKX1009 intersected 18.0 grams per tonne ("g/t")
gold ("Au"), 32 g/t silver ("Ag"), and 8.38% copper ("Cu") over a
1.11 metre ("m") interval of vein LM29 at the 1,028 m elevation; and 3.0 g/t Au, 1,167 g/t Ag,
1.49% lead ("Pb"), and 0.58% Cu over a 2.55
m interval of vein LM30 at the 1,023
m elevation
High-grade intercepts from low angle gold veins LM50 and
LM26:
- Hole ZKX0597 intersected 10.79 g/t Au, 272 g/t
Ag, 1.55% Pb, 0.19% zinc ("Zn") and 0.10% Cu over a 1.26 m interval of vein LM50 at the 782 m elevation
- Hole ZKX0598 intersected 22.79 g/t Au, 31 g/t Ag
and 0.13% Pb over a 0.59 m interval
of vein LM50 at the 777 m
elevation
- Hole ZKX0778 intersected 0.33 g/t Au, 1,327 g/t
Ag, 3.45% Pb, 0.63% Zn, and 0.15% Cu over a 2.99 m interval of vein LM26 at the 672 m elevation
- Hole ZKX3822 intersected 28.9 g/t Au and 12 g/t
Ag over a 1.24 m interval of vein
LM56 at the 532 m elevation
High-grade Ag-Pb intercepts at the W Zone:
- Hole ZKX0471 intersected 3,943 g/t Ag, 2.54% Pb, 0.95%
Zn, and 1.07% Cu over a 3.43 m
interval of vein W1 at the 1,084 m
elevation
- Hole ZKX0623 intersected 2,991 g/t Ag, 2.52% Pb, 2.29%
Zn, and 0.96% Cu over a 0.61 m
interval of vein W1 at the 1075 m
elevation
High-grade intercepts of Ag-Pb-Zn mineralization in the
Production Zone:
- Hole ZKX3414 intersected 1,112 g/t Ag, 3.09% Pb, 0.34%
Zn, 0.17 g/t Au, and 1.35% Cu over a 2.83
m interval of vein LM17 at the 553
m elevation
- Hole ZKX3423 intersected 1,209 g/t Ag, 4.51% Pb, 1.75%
Zn, and 0.93% Cu over a 1.47 m
interval of vein LM17 at the 565 m
elevation
From October 1, 2022 to
May 31, 2023, a total of 25,692 m in 189 diamond drill holes, including
165 underground holes and 24 surface holes, were completed at the
LMW mine. Assay results for 145 holes have been received and select
results are presented in Table 1 below.
This drilling program has been focused on four target areas: 1)
expansion drilling of newly discovered high-grade Ag-Pb and low
angle Au-Ag-Cu veins west of the LMW mine (W Zone) at elevations
above 918 m to surface (1250 m); 2) expansion drilling of low angle Au
and Ag-Au-Cu veins LM50, LM26, and LM21; 3) drilling to extend the
high-grade LM41E series veins; and 4) infill drilling of Ag-Pb-Zn
veins at the Production Zone.
1) Expansion drilling of newly discovered
high-grade Ag-Pb and low angle Au-Ag-Cu veins west of the LMW mine
(W Zone)
Drilling at the W Zone intersected several new, low angle, and
high-grade Ag-Au-Cu veins, including LM28, LM29 and LM30 (Table 1).
These quartz-pyrite-chalcopyrite veins were intersected at
elevations between 1028 m and
990 m, striking between 210 and 240
degrees with a dip angle between 10 and 30 degrees.
At the W Zone, drilling also intersected high-grade Ag-Pb veins
W2, W1, W18 series and W6 series at elevations between 1087 m and 905 m,
with extension over 800 m along
strike. The cross-cuts and drifts from surface at
1040 m and 988
m elevations have traced the high-grade Ag-Pb veins W1, W2
and W18 for up to 100 m in length in
tunnels. The W2, W1, W18 and W6 vein series clearly cut and
only slightly off-set the new low angle veins.
2) Expansion drilling of low angle Au and
Ag-Au-Cu veins LM50, LM26, and LM21
Drilling for the low angle Au and Ag-Au-Cu veins targeted LM50,
as well as LM21, LM26, LM22, LM51, LM54 and LM55. A continuous LM50
vein block extending 1000 m along
strike and 400 m downdip has been
defined and will be developed for test mining. Test mining of
vein LM26 is underway.
3) Drilling to extend the high-grade LM41E
series veins
At the east side of the resource area (E Zone), drilling
continued to extend the high-grade Ag-Pb-Zn LM41E series veins,
including LM41E, LM41E1 and LM41E1Wa. In particular, vein LM41E has
been expanded from 1,000 m to
554 m elevation.
High-grade Ag-Pb-Zn highlights from the E Zone:
- Hole ZKX11142 intersected 2,114 g/t Ag, 5.17% Pb, 1.94%
Zn, 0.05 g/t Au, and 0.24% Cu over a 0.86
m interval of vein LM41E at the 779
m elevation
- Hole ZKX10514 intersected 1,097 g/t Ag, 22.82% Pb, 0.14%
Zn, 0.26 g/t Au, and 0.09% Cu over a 0.71
m interval (0.60 m true width)
of vein LM41E at the 554 m
elevation.
4) Infill Drilling of Ag-Pb-Zn Veins at the
Production Zone
Most holes in this period targeted blocks of known Ag-Pb-Zn
veins at the Production Zone, including blocks that were previously
missed due to limited drilling or tunneling, changes in the strikes
and dips, and/or pinch-swelling of the pay-zones in the veins. The
high-grade intercepts are mainly associated with the
southeast-striking LM7 series, LM12 series and LM17 series of
veins, and the northwest-striking LM8 series, LM14, LM19 and
LM20.
High-grade Ag-Pb-Zn highlights at the Production Zone:
- Hole ZKX3413 intersected 318 g/t Ag, 7.48% Pb, 0.43% Zn,
0.13 g/t Au, and 1.07% Cu over a 3.34
m interval (3.05 m true width)
of vein LM17 at the 554 m
elevation
- Hole ZKX3610 intersected 862 g/t Ag, 10.82% Pb, 0.23%
Zn, and 1.08% Cu over a 1.62 m
interval (1.32 m true width) of vein
LM17 at the 551 m elevation
- Hole ZKX0158 intersected 1,046 g/t Ag, 5.69% Pb, 0.74%
Zn over a 0.91 m interval
(0.86 m true width) of vein LM12 at
the 850 m elevation.
Table 1: Selected intercepts from the 2022-2023 drilling
program at the LMW mine
Hole
ID
|
From
(m)
|
To
(m)
|
Elevation
(m)
|
Interval
(m)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Cu
(%)
|
Vein
|
Ore
Type
|
Ore
Zone
|
Low Angle
Gold-Copper-Silver Veins
|
ZKX07X083
|
59.07
|
61.21
|
821
|
2.14
|
24
|
0.05
|
0.09
|
2.39
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX05X001
|
60.79
|
62.58
|
820
|
1.79
|
17
|
0.06
|
0.14
|
2.62
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX05X129
|
75.94
|
76.59
|
820
|
0.65
|
78
|
0.90
|
0.41
|
13.80
|
0.05
|
LM50
|
Au
|
Au zone
|
ZKX07X100
|
73.58
|
77.88
|
817
|
4.30
|
6
|
0.19
|
0.10
|
1.84
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX0595
|
94.28
|
95.72
|
796
|
1.44
|
3
|
0.01
|
0.02
|
3.03
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX10420
|
79.86
|
81.26
|
789
|
1.40
|
1
|
0.01
|
0.01
|
2.35
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX0597
|
30.01
|
31.27
|
782
|
1.26
|
272
|
1.55
|
0.19
|
10.79
|
0.10
|
LM50
|
Au
|
Au zone
|
ZKX0598
|
33.19
|
33.78
|
777
|
0.59
|
31
|
0.13
|
0.02
|
22.79
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX05X048
|
75.30
|
78.39
|
775
|
3.09
|
16
|
0.81
|
0.23
|
5.63
|
0.01
|
LM50
|
Au
|
Au zone
|
ZKX0238
|
46.68
|
47.30
|
813
|
0.62
|
8
|
0.14
|
0.26
|
2.54
|
0.03
|
LM21
|
Au
|
Au zone
|
ZKX0440
|
66.13
|
66.89
|
812
|
0.76
|
1
|
0.01
|
0.03
|
4.57
|
0.01
|
LM21
|
Au
|
Au zone
|
ZKX10731
|
64.96
|
65.46
|
771
|
0.50
|
1
|
0.01
|
0.01
|
4.37
|
0.01
|
LM21
|
Au
|
Au zone
|
ZKX10984
|
111.63
|
112.97
|
761
|
1.34
|
4
|
0.05
|
0.06
|
3.04
|
0.01
|
LM21
|
Au
|
Au zone
|
ZKX10517
|
66.51
|
67.67
|
744
|
1.16
|
3
|
0.03
|
0.02
|
9.67
|
0.00
|
LM21
|
Au
|
Au zone
|
ZKX0778
|
81.23
|
84.22
|
672
|
2.99
|
1,327
|
3.45
|
0.63
|
0.33
|
0.15
|
LM26
|
Ag-Au-Cu
|
Au zone
|
ZKX05X053
|
76.49
|
77.56
|
664
|
1.07
|
59
|
0.03
|
0.03
|
4.74
|
1.90
|
LM26
|
Au-Cu
|
Au zone
|
ZKX0388
|
55.68
|
56.22
|
604
|
0.54
|
84
|
0.01
|
0.14
|
1.69
|
9.98
|
LM26
|
Ag-Au-Cu
|
Au zone
|
ZKX13817
|
238.77
|
239.27
|
992
|
0.50
|
2,069
|
2.24
|
0.14
|
0.59
|
0.09
|
LM28
|
Ag-Au-Cu
|
W zone
|
ZKX0692
|
60.75
|
61.51
|
991
|
0.76
|
63
|
0.56
|
0.63
|
0.61
|
0.14
|
LM28
|
Ag-Au-Cu
|
W zone
|
ZKX1009
|
208.69
|
209.80
|
1,028
|
1.11
|
32
|
0.01
|
0.03
|
18.00
|
8.38
|
LM29
|
Ag-Au-Cu
|
W zone
|
ZKX0980
|
58.24
|
58.83
|
720
|
0.59
|
16
|
0.01
|
0.01
|
0.03
|
2.62
|
LM51
|
Au-Cu
|
Au zone
|
ZKX05X076
|
135.01
|
138.35
|
531
|
3.34
|
1,698
|
0.42
|
0.07
|
0.66
|
0.11
|
LM53
|
Ag-Au-Cu
|
Au zone
|
ZKX10744
|
119.29
|
120.32
|
566
|
1.03
|
5
|
0.14
|
0.39
|
1.98
|
0.01
|
LM54
|
Au
|
Au zone
|
ZKX10934
|
158.49
|
160.94
|
555
|
2.45
|
3
|
0.04
|
0.03
|
1.78
|
0.00
|
LM54
|
Au
|
Au zone
|
ZKX10741
|
337.30
|
338.20
|
406
|
0.90
|
7
|
0.62
|
0.06
|
8.08
|
0.00
|
LM55
|
Au
|
Au zone
|
ZKX1009
|
217.32
|
219.87
|
1,023
|
2.55
|
1,167
|
1.49
|
0.03
|
3.01
|
0.58
|
LM30
|
Ag-Au-Cu
|
W zone
|
ZKX3822
|
127.56
|
128.80
|
532
|
1.24
|
12
|
0.07
|
0.04
|
28.90
|
0.02
|
LM56
|
Au
|
Au zone
|
ZKX14007
|
48.66
|
49.40
|
1,114
|
0.74
|
1
|
0.01
|
0.01
|
2.93
|
0.15
|
NA
|
Au-Cu
|
Au zone
|
High-Grade
Silver-Lead Veins at the W Zone
|
ZKX0674
|
14.70
|
16.15
|
1,087
|
1.45
|
505
|
0.09
|
0.03
|
0.02
|
0.06
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX0471
|
25.02
|
28.45
|
1,084
|
3.43
|
3,943
|
2.54
|
0.95
|
0.04
|
1.07
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX0623
|
77.79
|
78.40
|
1,075
|
0.61
|
2,991
|
2.52
|
2.29
|
0.02
|
0.96
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX0823
|
186.56
|
187.22
|
1,049
|
0.66
|
308
|
0.35
|
0.04
|
0.01
|
0.03
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX13817
|
201.67
|
202.44
|
1,015
|
0.77
|
27
|
7.15
|
0.11
|
0.01
|
0.01
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX13814
|
202.58
|
203.47
|
1,007
|
0.89
|
80
|
3.66
|
1.04
|
0.00
|
0.00
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX0656
|
61.02
|
62.15
|
1004
|
1.13
|
808
|
4.16
|
0.20
|
0.05
|
0.12
|
W1
|
Ag-Pb-Zn
|
W Zone
|
ZKX13814
|
164.85
|
167.82
|
1,032
|
2.97
|
189
|
2.99
|
0.25
|
0.00
|
0.00
|
W18
|
Ag-Pb-Zn
|
W Zone
|
ZKX13818
|
191.19
|
192.31
|
990
|
1.12
|
220
|
3.57
|
0.37
|
0.05
|
0.04
|
W18
|
Ag-Pb-Zn
|
W Zone
|
ZKX13815
|
209.43
|
211.09
|
976
|
1.66
|
582
|
2.14
|
0.18
|
0.05
|
0.19
|
W18
|
Ag-Pb-Zn
|
W Zone
|
ZKX14226
|
98.81
|
99.49
|
1,067
|
0.68
|
500
|
4.09
|
5.51
|
0.14
|
0.14
|
W18W
|
Ag-Pb-Zn
|
W Zone
|
ZKX0673
|
142.53
|
143.14
|
1,020
|
0.61
|
133
|
2.11
|
0.04
|
0.01
|
0.01
|
W6
|
Ag-Pb-Zn
|
W Zone
|
ZKX13817
|
379.60
|
380.49
|
905
|
0.89
|
325
|
1.22
|
0.20
|
0.02
|
0.05
|
W6E
|
Ag-Pb-Zn
|
W Zone
|
High-Grade
Silver-Lead-Zinc Veins at the E Zone
|
ZKX11141
|
57.95
|
58.64
|
800
|
0.69
|
474
|
1.71
|
1.41
|
0.01
|
0.12
|
LM41_1
|
Ag-Pb-Zn
|
E Zone
|
ZKX1905
|
224.18
|
225.04
|
1,003
|
0.86
|
385
|
0.37
|
0.22
|
0.00
|
0.00
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX11142
|
106.78
|
107.64
|
779
|
0.86
|
2,114
|
5.17
|
1.94
|
0.05
|
0.24
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10731
|
122.30
|
122.90
|
744
|
0.60
|
318
|
1.31
|
1.21
|
0.01
|
0.03
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10954
|
112.89
|
113.74
|
679
|
0.85
|
184
|
2.15
|
1.13
|
0.03
|
0.02
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10955
|
124.46
|
125.48
|
672
|
1.02
|
245
|
0.96
|
0.13
|
0.05
|
0.02
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX11136
|
116.01
|
116.86
|
627
|
0.85
|
756
|
0.60
|
0.31
|
0.46
|
0.04
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10729
|
123.77
|
124.87
|
625
|
1.10
|
328
|
2.60
|
0.13
|
0.00
|
0.00
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10743
|
135.54
|
136.79
|
625
|
1.25
|
396
|
11.40
|
1.06
|
0.00
|
0.00
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10744
|
163.62
|
164.67
|
554
|
1.05
|
51
|
4.08
|
0.12
|
0.04
|
0.05
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX10514
|
174.87
|
175.58
|
554
|
0.71
|
1,097
|
22.82
|
0.14
|
0.26
|
0.09
|
LM41E
|
Ag-Pb-Zn
|
E Zone
|
ZKX11141
|
136.42
|
136.92
|
794
|
0.50
|
309
|
1.26
|
0.18
|
0.01
|
0.03
|
LM41E1
|
Ag-Pb-Zn
|
E Zone
|
ZKX10954
|
118.95
|
119.72
|
678
|
0.77
|
534
|
4.33
|
0.91
|
0.06
|
0.12
|
LM41E1
|
Ag-Pb-Zn
|
E Zone
|
High-Grade Veins at
the Production Zone
|
ZKX07X079
|
5.44
|
6.33
|
750
|
0.89
|
823
|
1.05
|
0.47
|
0.00
|
0.00
|
LM10E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX07X080
|
3.80
|
4.99
|
750
|
1.19
|
595
|
1.75
|
0.30
|
0.00
|
0.00
|
LM10E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX07X081
|
2.90
|
3.54
|
750
|
0.64
|
239
|
0.62
|
0.06
|
0.00
|
0.00
|
LM10E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X121
|
9.12
|
9.68
|
747
|
0.56
|
325
|
1.25
|
0.11
|
0.00
|
0.00
|
LM10E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X120
|
50.64
|
52.38
|
742
|
1.74
|
251
|
0.98
|
0.16
|
0.00
|
0.00
|
LM11W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX07X080
|
44.06
|
45.23
|
731
|
1.17
|
204
|
0.29
|
0.06
|
0.00
|
0.00
|
LM11W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0158
|
37.48
|
38.39
|
850
|
0.91
|
1,046
|
5.69
|
0.24
|
0.00
|
0.00
|
LM12
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0159
|
34.14
|
34.69
|
845
|
0.55
|
1,816
|
4.98
|
0.07
|
0.00
|
0.19
|
LM12
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0398
|
65.74
|
66.27
|
805
|
0.53
|
568
|
0.98
|
0.37
|
0.18
|
0.13
|
LM12_1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1350
|
124.32
|
125.56
|
690
|
1.24
|
22
|
5.26
|
0.03
|
0.05
|
0.00
|
LM12_1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X076
|
147.87
|
148.99
|
520
|
1.12
|
225
|
3.39
|
0.08
|
0.05
|
0.11
|
LM12_1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11443
|
4.24
|
5.34
|
800
|
1.10
|
98
|
0.82
|
0.15
|
0.34
|
0.06
|
LM12_2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11239
|
9.22
|
10.29
|
798
|
1.07
|
99
|
7.62
|
1.16
|
0.08
|
0.03
|
LM12_2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X053
|
65.34
|
69.06
|
669
|
3.72
|
154
|
0.92
|
0.42
|
0.14
|
0.06
|
LM12_2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X047
|
67.06
|
67.91
|
668
|
0.85
|
1,810
|
4.20
|
4.73
|
0.21
|
0.51
|
LM12_2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X151
|
151.28
|
152.72
|
609
|
1.44
|
663
|
5.11
|
2.01
|
0.13
|
0.55
|
LM12_2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0570
|
63.21
|
63.98
|
811
|
0.77
|
670
|
1.60
|
1.37
|
0.67
|
0.15
|
LM12_3
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11239
|
80.78
|
81.75
|
782
|
0.97
|
321
|
14.65
|
0.09
|
0.07
|
0.08
|
LM12_3
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X158
|
87.79
|
88.56
|
655
|
0.77
|
190
|
0.74
|
0.28
|
0.00
|
0.00
|
LM12E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX00X007
|
23.26
|
24.15
|
785
|
0.89
|
372
|
5.59
|
0.10
|
0.01
|
0.30
|
LM12E2
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11443
|
106.74
|
107.63
|
786
|
0.89
|
669
|
0.83
|
0.13
|
0.03
|
0.38
|
LM13
|
Ag-Pb-Zn
|
Production
zone
|
ZKX10936
|
71.50
|
75.56
|
602
|
4.06
|
547
|
1.32
|
0.26
|
0.00
|
0.00
|
LM14
|
Ag-Pb-Zn
|
Production
zone
|
ZKX10937
|
77.27
|
78.54
|
597
|
1.27
|
166
|
1.29
|
0.22
|
0.00
|
0.00
|
LM14
|
Ag-Pb-Zn
|
Production
zone
|
ZKX4220
|
56.18
|
57.72
|
596
|
1.54
|
206
|
0.68
|
0.06
|
0.01
|
0.02
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX4025
|
58.71
|
60.78
|
595
|
2.07
|
376
|
8.29
|
1.67
|
0.00
|
0.00
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3417
|
40.75
|
46.27
|
566
|
5.52
|
342
|
1.86
|
0.39
|
0.00
|
0.58
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3423
|
35.21
|
36.68
|
565
|
1.47
|
1,209
|
4.51
|
1.75
|
0.00
|
0.93
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX4221
|
79.12
|
84.57
|
564
|
5.45
|
243
|
0.78
|
0.22
|
0.05
|
0.05
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX4219
|
79.61
|
82.21
|
559
|
2.60
|
134
|
1.39
|
0.37
|
0.00
|
0.00
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3413
|
38.59
|
41.93
|
554
|
3.34
|
318
|
7.48
|
0.43
|
0.13
|
1.07
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3414
|
41.33
|
44.16
|
553
|
2.83
|
1,112
|
3.09
|
0.34
|
0.17
|
1.35
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3610
|
53.57
|
55.19
|
551
|
1.62
|
862
|
10.82
|
0.23
|
0.00
|
1.08
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX3418
|
48.87
|
49.94
|
544
|
1.07
|
96
|
0.77
|
0.14
|
0.00
|
1.39
|
LM17
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1905
|
304.01
|
305.29
|
968
|
1.28
|
136
|
0.76
|
0.03
|
0.00
|
0.00
|
LM17W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX10210
|
125.49
|
131.35
|
790
|
5.86
|
197
|
1.30
|
0.09
|
0.00
|
0.00
|
LM19
|
Ag-Pb-Zn
|
Production
zone
|
ZKX07X090
|
64.08
|
64.98
|
624
|
0.90
|
50
|
5.11
|
0.52
|
0.05
|
0.05
|
LM29E3
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11443
|
133.73
|
135.78
|
782
|
2.05
|
370
|
0.95
|
0.09
|
0.06
|
0.22
|
LM19Wa
|
Ag-Pb-Zn
|
Production
zone
|
ZKX11239
|
137.53
|
138.04
|
769
|
0.51
|
649
|
0.49
|
0.02
|
0.03
|
0.08
|
LM19Wa
|
Ag-Pb-Zn
|
Production
zone
|
ZKX03X024
|
88.81
|
89.52
|
619
|
0.71
|
51
|
3.22
|
0.11
|
0.03
|
0.25
|
LM19Wa
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0582
|
48.39
|
52.42
|
667
|
4.03
|
355
|
1.29
|
0.78
|
0.00
|
0.00
|
LM20
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0157
|
71.72
|
72.50
|
877
|
0.78
|
22
|
5.85
|
0.14
|
0.00
|
0.00
|
LM20W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX03X086
|
32.28
|
34.97
|
778
|
2.69
|
415
|
1.47
|
0.13
|
0.70
|
0.06
|
LM20W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0598
|
38.78
|
39.46
|
773
|
0.68
|
417
|
3.65
|
0.87
|
0.13
|
0.11
|
LM20W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX00X002
|
142.43
|
143.20
|
911
|
0.77
|
1,178
|
1.75
|
0.04
|
0.03
|
0.14
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0397
|
125.66
|
128.01
|
815
|
2.35
|
124
|
3.56
|
0.21
|
0.00
|
0.00
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X041
|
126.13
|
127.39
|
806
|
1.26
|
64
|
2.76
|
0.03
|
0.00
|
0.00
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0759
|
42.23
|
43.18
|
770
|
0.95
|
129
|
1.21
|
0.05
|
0.05
|
0.05
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0179
|
77.98
|
79.38
|
770
|
1.40
|
161
|
1.10
|
0.07
|
0.00
|
0.00
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1153
|
104.93
|
105.65
|
654
|
0.72
|
329
|
1.76
|
0.22
|
0.00
|
0.00
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1353
|
101.87
|
103.43
|
638
|
1.56
|
67
|
2.97
|
0.20
|
0.00
|
0.00
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX09X079
|
86.13
|
87.72
|
628
|
1.59
|
62
|
2.77
|
0.03
|
0.05
|
0.09
|
LM7
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X051
|
131.93
|
132.60
|
777
|
0.67
|
42
|
12.64
|
0.18
|
0.00
|
0.00
|
LM7E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX05X048
|
123.20
|
126.13
|
758
|
2.93
|
164
|
0.62
|
0.05
|
0.02
|
0.09
|
LM7E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1153
|
122.94
|
124.39
|
647
|
1.45
|
193
|
0.45
|
0.35
|
0.00
|
0.00
|
LM7E
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0155
|
107.72
|
108.48
|
914
|
0.76
|
1,508
|
1.24
|
0.05
|
0.00
|
0.14
|
LM7W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0759
|
29.55
|
32.91
|
782
|
3.36
|
608
|
0.64
|
0.09
|
0.13
|
0.10
|
LM7W
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0176
|
41.47
|
43.76
|
789
|
2.29
|
126
|
1.19
|
0.02
|
0.01
|
0.00
|
LM7W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0179
|
31.32
|
32.54
|
789
|
1.22
|
127
|
0.66
|
0.24
|
0.10
|
0.05
|
LM7W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX0177
|
40.32
|
42.86
|
776
|
2.54
|
70
|
3.11
|
0.22
|
0.08
|
0.01
|
LM7W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX09X079
|
55.67
|
56.30
|
653
|
0.63
|
370
|
8.28
|
4.55
|
0.13
|
0.24
|
LM7W1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX09X079
|
16.18
|
17.66
|
685
|
1.48
|
191
|
0.79
|
0.12
|
0.03
|
0.07
|
LM8
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1352
|
14.34
|
14.93
|
695
|
0.59
|
43
|
16.27
|
0.05
|
0.00
|
0.00
|
LM8_1
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1351
|
41.64
|
42.46
|
742
|
0.82
|
224
|
0.40
|
0.04
|
0.00
|
0.05
|
LM8_3
|
Ag-Pb-Zn
|
Production
zone
|
ZKX1009
|
31.93
|
32.70
|
1,125
|
0.77
|
144
|
0.44
|
0.12
|
0.01
|
0.24
|
NA
|
Ag-Pb-Zn
|
Production
zone
|
5) Tunneling Programs at the LMW
Mine
A total of 4,257 m of exploration
tunnels have been developed at the LMW 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.
Quality Control
Drill cores are NQ size. Drill core samples, limited by apparent
mineralization contacts or shear/alteration contacts, were split
into halves by sawing. 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 1mm 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 by two-acid digestion
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 0.4 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 1mm 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 Canadian mining company producing silver, gold,
lead, and zinc with a long history of profitability and growth
potential. The Company's strategy is to create shareholder value by
1) focusing on generating free cashflow from long life mines; 2)
organic growth through extensive drilling for discovery; 3) ongoing
merger and acquisition efforts to unlock value; and 4) long term
commitment to responsible mining and ESG. For more information,
please visit our website at www.silvercorpmetals.com.
For further information
Lon Shaver
Vice President
Silvercorp Metals Inc.
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com
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