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SILVERCORP INTERCEPTS NEW HIGH-GRADE STRUCTURES AT LMW MINE, YING MINING DISTRCT, CHINA, INCLUDING VEIN LM26: 5.39 METRES TRUE WIDTH GRADING 2,896 GRAMS PER TONNE SILVER AND 2.58% COPPER

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SILVERCORP INTERCEPTS NEW HIGH-GRADE STRUCTURES AT LMW MINE, YING MINING DISTRCT, CHINA, INCLUDING VEIN LM26: 5.39 METRES TRUE WIDTH GRADING 2,896 GRAMS PER TONNE SILVER AND 2.58% COPPER

 

 

 

 

 

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) is pleased to report assay results from its ongoing drilling program at the LMW mine within the Ying Mining District in China.  From October 1, 2021 to September 30, 2022, a total of 56,803 metres in 416 diamond drill holes, including 372 underground holes and 44 surface holes, were completed at the LMW mine. Assay results for 378 holes have been received and selected results are presented in Table 1 below.  Currently, two surface and eight underground rigs are drilling at the LMW mine.

 

The assay results released here have not been included in the most recent “MINERAL RESERVES AND RESOURCES” update with a cut-off date of December 31, 2021 (see news release dated September 21, 2022).

 

1)  New Discovery of High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

 

Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins, including W1, W2, W2W, W6, W6E, W6W, and W18.  Among these, veins W2, W1 and W18 may have lengths of over 800 m along strike and 400 m down-dip from 1100 m to 700 m elevation.  To pursue this new discovery, the Company has started to develop two new horizontal tunnels from surface at 1040 m and 988 m elevations, and a new branch off-ramp from 800 m to 700 m elevations to access these veins.

 

Highlights of these new discovery holes are as follows:

  • Hole ZKX0818 intersected a 3.18 m interval (2.82 m true width) of vein W2 grading 2,238 grams per tonne (“g/t”) silver (“Ag”), 5.90% lead (“Pb”), 0.61% zinc (“Zn”), and 0.36% copper (“Cu”) at the 1,045 m elevation;
  • Hole ZKX0634 intersected a 4.03 m interval (3.43 m true width) of vein W6W grading 970 g/t Ag, 16.20% Pb, 0.60% Zn, and 0.29% Cu, at the 1,031 m elevation
  • Hole ZKX0636 intersected a 1.18 m interval (0.91 m true width) of vein W1 grading 2,511 g/t Ag, 3.45% Pb, 1.01% Zn, and 0.38% Cu, at the 963 m elevation; and
  • Hole ZKX14214 intersected a 6.58 m interval (1.19 m true width) of vein W18 grading 646 g/t Ag, 3.12% Pb, 0.3% Zn, and 0.16% Cu, at the1039 m elevation.

 

2)  Drilling of Low Angle Gold-Copper-Silver Veins Further Improved Continuity of Mineralization

 

Drilling of the low angle copper-gold-silver veins of LM21, LM22, LM26 and LM50 was designed to better understand this new type of mineralization which is strongly altered by silicification, with less obvious contact with host rocks of Archean granitic gneisses.  The lower angle copper-gold structures were also offset slightly by sub-vertical north-west and north-east trending silver-lead veins which have been the focus of mining production at LMW.  With the drilling program designed to expand gold-copper structures, and with better understanding, the Company is learning how to mine these low angle gold-copper bodies.

 

Highlights of the intercepts from the low angle gold veins at the LMW mine:

  • Hole ZKX03X021 intersected a 7.03 m interval (5.39 m true width) of vein LM26 grading 0.17 g/t gold, 2,896 g/t Ag, and 2.58% Cu, at the 602 m elevation;
  • Hole ZKX11238 intersected a 9.54 m interval (3.37 m true width) of vein LM26 grading 0.98 g/t Au, 1,323 g/t Ag, 7.45% Pb, 0.55% Zn, and 0.32% Cu, at the 670 m elevation;
  • Hole ZKX11223 intersected a 6.57 m interval (3.2 m true width) of vein LM26 grading 1.23 g/t Au, 1,780 g/t Ag, 16.71% Pb, 0.69% Zn, and 0.23% Cu, at the 670 m elevation;
  • Hole ZKX07X031 intersected an 8.10 m interval (4.06 m true width) of vein LM50 grading 1.26 g/t Au, 674 g/t Ag, 1.28% Pb, 0.21% Zn, and 0.09% Cu at the 799 m elevation;
  • Hole ZKX07X021 intersected an 1.01 m interval (0.65 m true width) of vein LM50 grading 19.2 g/t Au and 15 g/t Ag at the 791 m elevation;
  • Hole ZKX05X079 intersected a 4.21 m interval (3.42 m true width) of vein LM50 grading 6.36 g/t Au and 11 g/t Ag at the 794 m elevation;
  • Hole ZKX05X098 intersected a 0.77 m interval (0.70 m true width) of vein LM22 grading 29.00 g/t Au, 10 g/t Ag, and 1.21% Cu at the 850 m elevation; and
  • Hole ZKX05X096 intersected a 0.51 m interval (0.38 m true width) of vein LM22 grading 32.50 g/t Au, 2 g/t Ag, and 0.05% Cu, at the 848 m elevation.

 

3)  Drilling Above or Beneath Previously Mined Stopes

 

Most holes in this period targeted blocks of known silver-lead-zinc veins in the 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 in the veins. The high-grade intercepts are mainly associated with the southwest-striking LM7 series, LM12 series and LM17 series of veins, and the northwest-striking LM8 series, LM19 and LM20E.

 

Highlights of the high-grade silver-lead-zinc mineralization in the production areas:

  • Hole ZKX07X003 intersected a 13.31 m interval (12.80 m true width) of vein LM7 grading 365 g/t Ag, 0.71% Pb, 0.13% Zn, 0.06 g/t Au, and 0.33% Cu at the 778 m elevation;
  • Hole ZKX0733 intersected a 1.46 m interval (1.37 m true width) of vein LM12E grading 4,549 g/t Ag, 1.19% Pb, 0.24% zinc (“Zn”), 0.49 g/t Au, and 0.10% copper (“Cu”) at the 645 m elevation;
  • Hole ZKX0058 intersected a 3.40 m interval (3.39 m true width) of vein LM7W grading 1,181 g/t Ag, 2.49% Pb, 0.24% Zn, 0.12 g/t Au, and 0.21% Cu at the 771 m elevation;
  • Hole ZKX05X075 intersected a 4.16 m interval (3.72 m true width) of vein LM7 grading 360 g/t Ag, 1.75% Pb, 0.59% Zn, 9.15 g/t Au, and 0.24% Cu at the 764 m elevation; and
  • Hole ZKX09X001 intersected a 5.78 m interval (5.53 m true width) of vein LM7W grading 531 g/t Ag, 1.06% Pb, 0.37% Zn, 0.02 g/t Au, and 0.19% Cu at the 575 m elevation.

 

4)  Drilling Intersected High-Grade Silver-Lead-Zinc Veins and a New Gold Structure at the East Side of the Resource Area

 

At the east side of the resource area, drilling intersected high-grade silver-lead-zinc vein LM41E and the parallel silver-lead-zinc veins LM41E1 and LM41E1Wa with true widths up to 2.40 m.

 

While drilling these LM41 series high grade silver-lead-zinc veins, a new gently dipping gold vein has been discovered with three drill holes, ZKX10944, ZKX10735, and ZKX10739 intercepting high grade gold, which are approximately 450 m east of those intercepts on the LM50 gold structure.

 

Highlights of the high-grade silver-lead-zinc mineralization at the northwest and east sides of the LMW mine:

  • Hole ZKX1166 intersected a 1.36 m interval (1.23 m true width) of vein LM41E grading 2,415 g/t Ag, 2.61% Pb, 0.40% Zn, 0.05 g/t Au, and 0.90% Cu at the 778 m elevation; and
  • Hole ZKX1143 intersected a 3.11 m interval (2.40 m true width) of vein LM41E grading 993 g/t Ag, 1.35% Pb, 0.54% Zn, 0.05 g/t Au, and 0.12% Cu at the 754 m elevation.
  • Hole ZKX09X033 intersected a 1.3 m interval (0.88 m true width) of vein LM41EWa grading 1976 g/t Ag, 1.74% Pb, 0.45% Zn, 0.79 g/t Au, and 0.23% Cu at the 706 m elevation.
  • Hole ZKX10944 intersected a 2.13 m interval (2.0 m true width) of a new gently dipping gold vein grading 478 g/t Ag, 2.14% Pb, 0.9% Zn, and 5.97 g/t Au, at the 763 m elevation
  • Hole ZKX10735 intersected a 1.18 m interval (1.18 m true width) of the new gently dipping gold vein grading 5.37 g/t Au at the 760 m elevation
  • Hole ZKX10739 intersected a 0.95 m interval (0.95 m true width) of the new gently dipping gold vein grading 5.65 g/t Au at the 754 m elevation

 

Table 1: Selected intercepts from the 2022 drilling program at the LMW mine

 

 

Hole ID From
(m)
To
(m)
Elevation
(m)
Interval
(m)
True Width
(m)
 Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
Vein Ore Type
High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas
ZKX0432 185.86 186.97 787 1.11 0.75 323 0.75 0.86 0.03 0.06 W1 Ag-Pb-Zn
ZKX0438 144.83 145.86 862 1.03 0.96 315 1.83 0.22 0.05 0.03 W1 Ag-Pb-Zn
ZKX0460 161.61 163.12 849 1.51 1.12 217 6.49 0.19 0.03 0.03 W1 Ag-Pb-Zn
ZKX0463 171.36 173.68 817 2.32 1.91 510 4.26 2.25 0.07 0.12 W1 Ag-Pb-Zn
ZKX0636 146.74 147.92 963 1.18 0.91 2,511 3.45 1.01 0.05 0.38 W1 Ag-Pb-Zn
ZKX0815 142.93 143.64 985 0.71 0.49 73 12.84 0.07 0.05 0.02 W1 Ag-Pb-Zn
ZKX0819 18.49 21.56 1,082 3.07 2.17 178 1.00 0.04 0.01 0.06 W1 Ag-Pb-Zn
ZKX0820 21.73 24.45 1,077 2.72 1.64 706 1.02 0.12 0.05 0.26 W1 Ag-Pb-Zn
ZKX1005 53.60 54.58 897 0.98 0.95 381 5.30 0.13 0.05 0.04 W1 Ag-Pb-Zn
ZKX14213 120.64 121.77 911 1.13 0.70 396 0.39 0.06 0.05 0.03 W1 Ag-Pb-Zn
ZKX0815 137.63 138.40 988 0.77 0.53 1,891 1.78 0.84 0.05 0.31 W18 Ag-Pb-Zn
ZKX14214 139.43 146.01 1,039 6.58 1.19 646 3.12 0.30 0.05 0.16 W18 Ag-Pb-Zn
ZKX0819 61.43 61.93 1,049 0.50 0.35 1,212 1.27 0.49 0.01 0.49 W18E Ag-Pb-Zn
ZKX0817 4.20 5.12 1,095 0.92 0.79 300 0.50 0.03 0.05 0.08 W1E Ag-Pb-Zn
ZKX0818 69.16 70.07 1,055 0.91 0.80 539 0.33 0.18 0.05 0.08 W1E Ag-Pb-Zn
ZKX0819 84.20 85.62 1,031 1.42 1.02 198 0.32 0.06 0.01 0.04 W1E Ag-Pb-Zn
ZKX0650 105.92 106.52 993 0.60 0.32 1 0.01 0.01 7.13 0.09 W1E2 Ag-Pb-Zn
ZKX0450 69.19 71.38 1,031 2.19 1.36 1,216 6.77 0.61 0.05 0.18 W2 Ag-Pb-Zn
ZKX0465 58.47 60.69 1,041 2.22 1.26 831 2.70 0.26 0.02 0.29 W2 Ag-Pb-Zn
ZKX0636 103.95 104.67 993 0.72 0.56 667 0.56 0.27 2.61 0.38 W2 Ag-Pb-Zn
ZKX0650 64.26 65.46 1,022 1.20 0.64 256 0.47 0.16 0.01 0.03 W2 Ag-Pb-Zn
ZKX0651 69.77 70.70 1,052 0.93 0.54 1,537 0.60 0.15 0.03 0.34 W2 Ag-Pb-Zn
ZKX0818 84.14 87.32 1,045 3.18 2.82 2,238 5.90 0.61 0.07 0.36 W2 Ag-Pb-Zn
ZKX0819 118.25 119.25 1,005 1.00 0.72 1,622 1.96 0.20 0.01 0.04 W2 Ag-Pb-Zn
ZKX0039 126.57 127.39 879 0.82 0.77 80 4.30 2.75 0.03 0.01 W6 Ag-Pb-Zn
ZKX0046 132.12 133.44 817 1.32 0.75 73 6.62 0.39 0.05 0.01 W6 Ag-Pb-Zn
ZKX0431 198.49 199.92 825 1.43 1.18 471 1.04 0.36 0.05 0.19 W6 Ag-Pb-Zn
ZKX0454 175.59 176.32 861 0.73 0.66 367 5.75 1.21 0.21 0.04 W6 Ag-Pb-Zn
ZKX14005 141.48 142.40 924 0.92 0.87 307 2.37 0.32 0.05 0.10 W6 Ag-Pb-Zn
ZKX14404 104.79 106.35 893 1.56 1.56 150 2.34 1.22 0.05 0.03 W6 Ag-Pb-Zn
ZKX0454 186.46 187.85 856 1.39 1.25 398 0.81 0.16 0.05 0.03 W6E Ag-Pb-Zn
ZKX0454 243.14 243.74 832 0.60 0.54 52 10.14 0.39 0.05 0.00 W6E2 Ag-Pb-Zn
ZKX0438 100.57 101.58 884 1.01 0.94 43 1.12 0.22 1.74 0.02 W6W Ag-Pb-Zn
ZKX0439 98.03 98.78 910 0.75 0.74 483 3.22 0.95 0.05 0.12 W6W Ag-Pb-Zn
ZKX0634 56.04 60.07 1,031 4.03 3.43 970 16.20 0.60 0.10 0.29 W6W Ag-Pb-Zn
ZKX13630 137.23 137.74 1,014 0.51 0.45 1,077 4.84 0.48 0.02 0.54 W6W Ag-Pb-Zn
Low Angle Gold-Copper-Silver Veins
ZKX0082 292.17 293.61 878 1.44 0.76 73 0.54 0.52 13.06 1.70 LM22 Au-Ag-Cu
ZKX05X096 77.81 78.32 848 0.51 0.38 2 0.01 0.02 32.50 0.05 LM22 Au-Ag-Cu
ZKX05X097 84.82 85.77 855 0.95 0.72 37 0.00 0.03 1.63 7.39 LM22 Au-Ag-Cu
ZKX05X098 76.67 77.44 850 0.77 0.70 10 0.00 0.01 29.00 1.21 LM22 Au-Ag-Cu
ZKX05X100 76.16 77.14 845 0.98 0.70 1 0.00 0.01 3.40 0.14 LM22 Au-Ag-Cu
ZKX0+A3:U198390 60.86 61.63 640 0.77 0.58 37 0.01 0.03 0.92 5.43 LM26 Au-Ag-Cu
ZKX0188 16.94 17.97 737 1.03 0.97 4 0.00 0.01 2.88 0.00 LM26 Au-Ag-Cu
ZKX0191 86.24 89.04 662 2.80 1.64 37 0.07 0.01 3.21 0.29 LM26 Au-Ag-Cu
ZKX03X021 98.88 105.91 602 7.03 5.39 2,896 0.15 0.12 0.17 2.58 LM26 Au-Ag-Cu
ZKX11046 43.05 43.92 668 0.87 0.73 214 1.34 0.11 0.03 0.02 LM26 Ag-Pb-Zn
ZKX11223 44.84 51.41 670 6.57 3.20 1780 16.71 0.69 1.23 0.23 LM26 Au-Cu-Ag
ZKX11238 44.05 53.59 670 9.54 3.37 1,323 7.45 0.55 0.98 0.32 LM26 Au-Ag-Cu
ZKX0251 20.25 22.01 784 1.76 1.20 140 3.19 0.29 1.38 0.12 LM50 Au-Ag
ZKX0341 165.20 166.10 737 0.90 0.60 15 0.01 0.02 5.59 1.74 LM50 Au-Ag
ZKX03X054 168.91 169.90 818 0.99 0.84 4 0.01 0.02 2.53 0.01 LM50 Au-Ag
ZKX03X055 164.35 165.47 803 1.12 0.75 60 1.42 0.06 2.04 0.01 LM50 Au-Ag
ZKX0571 53.42 55.91 808 2.49 2.05 15 0.03 0.04 3.63 0.01 LM50 Ag-Pb-Zn
ZKX05X004 61.26 62.28 807 1.02 0.95 5 0.02 0.03 3.11 0.00 LM50 Ag-Pb-Zn
ZKX05X007 68.87 70.20 791 1.33 1.17 1 0.20 0.03 2.44 0.00 LM50 Ag-Pb-Zn
ZKX05X009 86.06 87.12 786 1.06 0.77 11 0.16 0.17 7.15 0.00 LM50 Ag-Pb-Zn
ZKX05X010 98.40 99.68 781 1.28 0.78 10 0.40 0.22 5.63 0.01 LM50 Ag-Pb-Zn
ZKX05X017 81.66 83.20 786 1.54 1.12 10 0.12 0.06 7.78 0.01 LM50 Ag-Pb-Zn
ZKX05X078 14.29 15.22 789 0.93 0.61 12 0.34 0.08 3.90 0.01 LM50 Au-Ag
ZKX05X079 6.45 10.66 794 4.21 3.42 11 0.38 0.13 6.36 0.00 LM50 Au-Ag
ZKX0727 73.32 74.30 804 0.98 0.74 26 0.13 0.17 6.71 0.00 LM50 Ag-Pb-Zn
ZKX0780 100.97 102.20 797 1.23 0.52 20 0.31 0.48 4.21 0.01 LM50 Ag-Pb-Zn
ZKX07X002 26.14 28.50 788 2.36 2.28 24 0.78 0.12 5.51 0.03 LM50 Au-Ag
ZKX07X003 22.58 23.64 786 1.06 1.00 140 3.40 0.30 5.65 0.06 LM50 Au-Ag
ZKX07X021 17.26 18.27 791 1.01 0.65 15 0.16 0.32 19.20 0.00 LM50 Au-Ag
ZKX07X025 18.44 20.06 792 1.62 1.16 23 0.10 0.13 4.04 0.00 LM50 Au-Ag
ZKX07X031 2.93 11.03 799 8.10 4.06 674 1.28 0.21 1.26 0.09 LM50 Au-Ag
ZKX07X032 6.10 11.64 796 5.54 3.78 224 2.28 0.33 1.54 0.10 LM50 Au-Ag
ZKX07X033 19.74 20.78 789 1.04 0.28 3 0.17 0.15 11.05 0.01 LM50 Au-Ag
ZKX07X034 12.30 13.54 791 1.24 0.80 9 0.08 0.03 2.65 0.01 LM50 Au-Ag
ZKX07X082 83.96 84.77 793 0.81 0.60 13 0.37 0.24 6.24 0.01 LM50 Ag-Pb-Zn
ZKX0996 4.16 12.75 804 8.59 2.43 412 2.33 0.19 0.42 0.24 LM50 Au-Ag
ZKX0999 7.72 18.38 803 10.66 3.78 492 1.06 0.20 2.88 0.16 LM50 Au-Ag
ZKX09X018 8.92 10.23 792 1.31 1.11 3 0.10 0.01 4.43 0.01 LM50 Au-Ag
ZKX1172 3.11 6.14 800 3.03 2.26 155 2.59 0.07 3.02 0.08 LM50 Au-Ag
ZKX1173 0.49 1.61 801 1.12 0.78 105 2.38 0.12 1.38 0.08 LM50 Au-Ag
ZKX1175 2.28 5.78 800 3.50 1.30 158 2.90 0.12 0.18 0.07 LM50 Au-Ag
Veins Above or Beneath Previously Mined Stopes
ZKX05X097 111.01 112.28 838 1.27 0.96 276 0.63 0.17 0.06 0.02 LM10W1 Ag-Pb-Zn
ZKX05X119 59.35 59.80 700 0.45 0.38 2,894 3.65 2.36 0.30 0.49 LM11E Ag-Pb-Zn
ZKX0087 72.59 74.87 982 2.28 1.85 177 3.58 1.44 0.02 0.08 LM12 Ag-Pb-Zn
ZKX0343 27.05 27.62 578 0.57 0.53 645 4.95 0.45 0.02 0.05 LM12 Ag-Pb-Zn
ZKX11046 64.36 67.97 654 3.61 1.24 2,394 5.11 0.84 0.12 0.19 LM12_1 Ag-Pb-Zn
ZKX11442 128.77 129.59 514 0.82 0.70 366 9.08 0.06 0.05 0.02 LM12_1 Ag-Pb-Zn
ZKX11225 16.50 17.02 690 0.52 0.38 657 3.49 0.06 0.17 0.08 LM12_2 Ag-Pb-Zn
ZKX0198 122.51 124.07 896 1.56 1.38 947 1.08 0.62 0.05 0.39 LM12_2a Ag-Pb-Zn
ZKX11223 23.89 35.12 684 11.23 2.6 302 2.66 0.27 0.06 0.06 LM12_2a Ag-Pb-Zn
ZKX0199 100.62 103.07 922 2.45 1.66 212 3.04 0.09 0.07 0.01 LM12_3 Ag-Pb-Zn
ZKX01X016 93.15 94.07 906 0.92 0.58 305 2.10 0.10 0.00 0.19 LM12_3 Ag-Pb-Zn
ZKX11026 68.98 69.65 659 0.67 0.50 331 9.91 0.02 0.16 0.11 LM12a Ag-Pb-Zn
ZKX0342 59.11 59.76 580 0.65 0.57 343 2.12 0.11 0.02 0.02 LM12E Ag-Pb-Zn
ZKX0733 142.98 144.44 645 1.46 1.37 4,549 1.19 0.24 0.49 0.10 LM12E Ag-Pb-Zn
ZKX09X003 30.13 31.03 577 0.90 0.86 231 10.27 0.78 0.02 0.53 LM12E Ag-Pb-Zn
ZKX11024 97.67 98.72 631 1.05 0.74 294 0.41 0.18 0.03 0.01 LM12E Ag-Pb-Zn
ZKX11026 89.38 90.79 648 1.41 1.05 1,270 2.06 0.44 0.18 0.06 LM12E Ag-Pb-Zn
ZKX0198 60.64 63.57 912 2.93 2.59 909 0.33 0.39 0.05 0.50 LM13 Ag-Pb-Zn
ZKX11602 38.65 40.41 585 1.76 1.72 54 6.19 0.05 0.02 0.02 LM13 Ag-Pb-Zn
ZKX0097 122.72 123.65 927 0.93 0.76 143 2.21 0.19 0.02 0.16 LM13W Ag-Pb-Zn
ZKX03X022 15.31 16.10 688 0.79 0.76 176 5.93 0.03 0.02 0.01 LM13W Ag-Pb-Zn
ZKX03X058 52.84 53.82 942 0.98 0.82 315 2.21 0.63 0.00 0.07 LM13W Ag-Pb-Zn
ZKX03X059 48.58 49.19 947 0.61 0.41 4,558 1.54 0.26 0.06 0.49 LM13W Ag-Pb-Zn
ZKX0637 87.27 88.15 926 0.88 0.77 181 0.97 0.05 0.02 0.18 LM13W Ag-Pb-Zn
ZKX11436 112.66 113.67 541 1.01 0.94 1,421 1.90 0.10 0.05 0.03 LM14 Ag-Pb-Zn
ZKX11436 127.73 128.49 533 0.76 0.70 238 1.53 0.07 0.01 0.02 LM14_1 Ag-Pb-Zn
ZKX3214 49.27 50.35 714 1.08 0.54 991 9.38 0.70 0.04 0.72 LM16_1 Ag-Pb-Zn
ZKX0755 232.70 233.97 999 1.27 1.19 126 5.01 0.20 0.03 0.02 LM17 Ag-Pb-Zn
ZKX0773 129.58 132.05 682 2.47 1.88 382 0.69 0.48 0.05 0.03 LM17 Ag-Pb-Zn
ZKX07X054 92.00 93.03 748 1.03 1.00 163 11.26 0.17 0.05 0.02 LM17 Ag-Pb-Zn
ZKX07X058 131.16 132.62 682 1.46 1.16 269 0.70 0.19 0.02 0.02 LM17 Ag-Pb-Zn
ZKX1166 126.39 127.37 745 0.98 0.88 421 1.39 0.44 0.05 0.08 LM17 Ag-Pb-Zn
ZKX1169 330.70 334.88 983 4.18 0.94 284 10.42 0.76 0.06 0.06 LM17 Ag-Pb-Zn
ZKX1343 143.16 148.20 778 5.04 2.78 225 1.77 0.35 0.05 0.03 LM17 Ag-Pb-Zn
ZKX05X113 73.34 74.68 773 1.34 1.32 1,823 6.62 6.64 0.05 0.40 LM17a Ag-Pb-Zn
ZKX07X058 122.27 125.76 691 3.49 2.78 323 1.96 0.28 0.02 0.12 LM17a Ag-Pb-Zn
ZKX09X007 97.42 99.21 762 1.79 1.75 573 0.29 0.08 0.05 0.28 LM17a Ag-Pb-Zn
ZKX1343 129.52 130.48 780 0.96 0.80 314 6.53 0.13 0.05 0.05 LM17a Ag-Pb-Zn
ZKX07X058 97.56 99.63 713 2.07 1.65 90 7.38 0.17 0.02 0.08 LM17W Ag-Pb-Zn
ZKX0978 195.61 196.31 1,067 0.70 0.65 852 0.17 0.37 0.05 0.35 LM17W Ag-Pb-Zn
ZKX10948 191.52 192.06 762 0.54 0.43 278 2.77 0.16 0.08 0.03 LM17W Ag-Pb-Zn
ZKX1187 109.39 110.30 773 0.91 0.49 309 0.51 0.08 0.02 0.18 LM17W Ag-Pb-Zn
ZKX3214 138.14 139.46 682 1.32 1.28 43 4.45 0.35 0.02 0.01 LM17W Ag-Pb-Zn
ZKX0755 152.87 154.27 1,034 1.40 1.31 223 0.06 0.08 0.03 0.06 LM17W2 Ag-Pb-Zn
ZKX07X053 12.30 13.59 802 1.29 1.23 1,050 1.25 0.60 0.05 0.15 LM17W2 Ag-Pb-Zn
ZKX0954 152.84 153.44 1,062 0.60 0.60 237 0.36 0.16 0.05 0.09 LM17W2 Ag-Pb-Zn
ZKX0955 199.62 200.15 925 0.53 0.41 2,449 1.10 0.48 0.02 0.21 LM17W2 Ag-Pb-Zn
ZKX09X008 156.15 157.72 1,044 1.57 1.14 293 0.13 0.07 0.05 0.02 LM17W2 Ag-Pb-Zn
ZKX09X053 165.35 166.04 1,090 0.69 0.67 296 1.65 0.33 0.05 0.19 LM17W2 Ag-Pb-Zn
ZKX1167 4.83 5.88 802 1.05 1.05 531 0.62 0.42 0.05 0.03 LM17W2 Ag-Pb-Zn
ZKX0058 38.87 39.49 778 0.62 0.62 235 0.86 0.12 0.02 0.05 LM19 Ag-Pb-Zn
ZKX0059 46.56 47.65 787 1.09 0.99 227 0.16 0.02 0.05 0.01 LM19 Ag-Pb-Zn
ZKX0090 69.68 70.28 941 0.60 0.48 594 0.81 0.03 0.03 0.10 LM19 Ag-Pb-Zn
ZKX0251 4.40 7.20 797 2.80 1.91 180 0.65 0.08 0.05 0.03 LM19 Ag-Pb-Zn
ZKX0258 97.88 99.34 929 1.46 0.89 191 3.89 0.31 0.02 0.06 LM19 Ag-Pb-Zn
ZKX03X058 16.42 17.25 968 0.83 0.65 173 1.73 0.17 0.01 0.01 LM19 Ag-Pb-Zn
ZKX10213 71.19 72.62 956 1.43 1.21 456 0.08 0.05 0.05 0.05 LM19 Ag-Pb-Zn
ZKX0231 46.09 46.79 940 0.70 0.64 379 1.30 0.03 0.05 0.10 LM19a Ag-Pb-Zn
ZKX00X003 18.00 21.13 925 3.13 3.02 494 3.57 0.22 0.04 0.19 LM19E Ag-Pb-Zn
ZKX0343 6.51 7.02 593 0.51 1.10 148 6.52 0.33 0.02 0.04 LM19E Ag-Pb-Zn
ZKX0190 29.43 29.97 686 0.54 0.53 369 11.19 0.14 0.07 0.09 LM19W Ag-Pb-Zn
ZKX03X022 10.76 11.88 691 1.12 1.07 400 0.39 0.14 0.23 0.23 LM19W Ag-Pb-Zn
ZKX0552 24.22 25.35 743 1.13 1.12 223 0.93 0.16 0.02 0.06 LM19Wa Ag-Pb-Zn
ZKX05X119 34.25 34.79 721 0.54 0.45 2,153 2.50 0.26 0.05 0.75 LM19Wa Ag-Pb-Zn
ZKX11021 141.58 142.21 605 0.63 0.39 1,393 10.40 0.34 0.78 0.54 LM20 Ag-Pb-Zn
ZKX03X026 50.24 52.73 777 2.49 2.47 199 5.20 0.62 13.37 0.06 LM20E Ag-Pb-Zn
ZKX05X077 37.90 38.41 776 0.51 0.50 373 1.64 0.07 0.02 0.04 LM20E Ag-Pb-Zn
ZKX09X006 37.96 43.60 593 5.64 4.86 247 3.26 0.47 0.02 0.05 LM20E Ag-Pb-Zn
ZKX0258 197.39 200.72 884 3.33 1.98 3 0.01 0.01 4.15 0.01 LM21 Ag-Pb-Zn
ZKX05X080 43.10 44.31 761 1.21 1.04 3 0.01 0.01 8.53 0.01 LM21 Ag-Pb-Zn
ZKX09X056 61.23 62.44 728 1.21 1.15 376 0.40 0.06 0.02 0.12 LM21 Ag-Pb-Zn
ZKX11436 42.56 43.78 576 1.22 1.13 122 2.14 0.10 0.02 0.02 LM32 Ag-Pb-Zn
ZKX11409 64.36 65.01 580 0.65 0.56 300 4.08 0.08 0.05 0.08 LM32E1 Ag-Pb-Zn
ZKX11411 60.71 61.73 575 1.02 0.94 271 0.17 0.13 0.18 0.04 LM32E1 Ag-Pb-Zn
ZKX11612 74.12 74.62 565 0.50 0.39 225 4.66 0.26 0.01 0.04 LM33 Ag-Pb-Zn
ZKX0053 18.20 26.24 785 8.04 6.75 210 3.23 0.14 0.42 0.35 LM7 Ag-Pb-Zn
ZKX0055 35.28 36.46 775 1.18 1.12 181 1.18 0.08 0.05 0.03 LM7 Ag-Pb-Zn
ZKX0077 32.13 33.11 788 0.98 0.95 90 0.31 1.52 2.02 1.70 LM7 Ag-Pb-Zn
ZKX0089 146.99 148.45 938 1.46 1.06 145 3.04 0.01 0.02 0.01 LM7 Ag-Pb-Zn
ZKX0229 139.75 140.69 929 0.94 0.80 641 1.66 0.10 0.05 0.06 LM7 Ag-Pb-Zn
ZKX03X014 156.63 157.93 911 1.30 1.05 477 1.12 0.03 0.13 0.14 LM7 Ag-Pb-Zn
ZKX03X015 130.12 131.12 875 1.00 0.91 948 0.66 0.09 0.05 0.17 LM7 Ag-Pb-Zn
ZKX05X075 107.56 111.72 764 4.16 3.72 360 1.75 0.59 9.15 0.24 LM7 Ag-Pb-Zn
ZKX05X080 112.84 113.82 698 0.98 0.85 248 0.98 0.04 0.02 0.02 LM7 Ag-Pb-Zn
ZKX07X003 34.16 47.47 778 13.31 12.80 365 0.71 0.13 0.06 0.33 LM7 Ag-Pb-Zn
ZKX07X030 60.65 64.80 774 4.15 3.79 447 0.63 0.05 0.02 0.13 LM7 Ag-Pb-Zn
ZKX07X073 98.47 104.92 721 6.45 5.95 291 3.88 0.14 0.02 0.11 LM7 Ag-Pb-Zn
ZKX1180 94.00 96.56 678 2.56 2.25 169 1.29 0.08 0.02 0.57 LM7 Ag-Pb-Zn
ZKX03X016 111.91 113.12 869 1.21 1.13 434 0.37 0.04 0.05 0.06 LM7a Ag-Pb-Zn
ZKX0148 127.40 128.25 512 0.85 0.69 164 3.71 0.06 0.02 0.05 LM7E Ag-Pb-Zn
ZKX0058 50.75 54.15 771 3.40 3.39 1,181 2.49 0.24 0.12 0.21 LM7W Ag-Pb-Zn
ZKX0063 55.17 57.94 754 2.77 2.59 1,025 1.16 0.22 0.05 0.11 LM7W Ag-Pb-Zn
ZKX0250 6.50 10.03 796 3.53 2.55 466 0.57 0.05 0.05 0.09 LM7W Ag-Pb-Zn
ZKX07X003 13.45 17.35 792 3.90 3.74 373 2.66 0.06 0.20 0.06 LM7W Ag-Pb-Zn
ZKX07X068 49.48 52.67 721 3.19 3.07 331 0.77 0.42 0.02 0.06 LM7W Ag-Pb-Zn
ZKX0990 76.97 77.85 861 0.88 0.86 125 2.40 0.16 0.05 0.02 LM7W Ag-Pb-Zn
ZKX09X001 48.36 54.14 575 5.78 5.53 531 1.06 0.37 0.02 0.19 LM7W Ag-Pb-Zn
ZKX09X015 103.78 105.12 749 1.34 0.77 368 2.99 1.45 0.02 0.21 LM7W Ag-Pb-Zn
ZKX09X027 57.79 58.59 720 0.80 0.80 356 0.71 0.54 0.02 0.02 LM7W Ag-Pb-Zn
ZKX09X056 56.45 57.31 730 0.86 0.82 823 0.54 0.06 0.02 0.09 LM7W Ag-Pb-Zn
ZKX09X057 59.00 61.54 732 2.54 2.42 219 0.81 0.41 0.02 0.11 LM7W Ag-Pb-Zn
ZKX1513 62.91 64.29 718 1.38 1.02 218 0.89 0.82 0.02 0.02 LM7W Ag-Pb-Zn
ZKX0230 33.80 34.81 954 1.01 0.91 271 0.54 0.05 0.10 0.17 LM7W1 Ag-Pb-Zn
ZKX09X002 41.08 42.17 586 1.09 1.00 242 2.02 0.36 0.02 0.19 LM7W1 Ag-Pb-Zn
ZKX09X056 40.45 48.27 736 7.82 7.43 250 0.60 0.07 0.02 0.04 LM8 Ag-Pb-Zn
ZKX07X031 12.09 13.95 792 1.86 0.93 498 1.37 0.22 0.02 0.03 LM8_1 Ag-Pb-Zn
ZKX10608 43.33 44.51 774 1.18 1.03 399 0.60 0.03 0.07 0.03 LM8_2 Ag-Pb-Zn
ZKX10837 102.53 103.04 879 0.51 0.32 1,337 25.77 8.77 0.02 0.12 LM8_4a Ag-Pb-Zn
ZKX11006 149.12 150.02 870 0.90 0.52 1,101 1.08 0.43 0.05 0.06 LM8_4a Ag-Pb-Zn
ZKX10831 102.45 103.13 885 0.68 0.35 882 35.24 1.67 0.02 0.09 LM8_4E Ag-Pb-Zn
ZKX07X028 41.67 42.82 734 1.15 1.09 181 23.06 2.03 0.02 0.01 LM8a Ag-Pb-Zn
ZKX07X002 11.85 12.39 796 0.54 0.52 562 1.35 0.07 0.05 0.20 LM8W Ag-Pb-Zn
ZKX07X004 10.33 11.55 799 1.22 1.11 427 1.73 0.07 0.02 0.07 LM8W Ag-Pb-Zn
ZKX07X020 9.02 12.33 797 3.31 3.10 152 1.34 0.03 0.02 0.02 LM8W Ag-Pb-Zn
ZKX03X040 6.82 8.00 907 1.18 0.73 404 0.15 0.16 0.01 0.03 N/A Ag-Pb-Zn
ZKX0431 189.20 190.30 830 1.10 0.91 477 3.26 0.79 0.05 0.04 N/A Ag-Pb-Zn
ZKX0436 279.65 280.37 710 0.72 0.52 341 1.23 0.46 0.09 0.03 N/A Ag-Pb-Zn
ZKX0454 57.83 58.69 912 0.86 0.77 184 0.31 0.22 0.05 0.04 N/A Ag-Pb-Zn
ZKX0749 203.25 204.74 917 1.49 1.07 850 0.78 0.46 0.05 0.51 N/A Ag-Pb-Zn
ZKX07X073 19.19 20.00 745 0.81 0.75 335 2.23 0.06 0.02 0.22 N/A Ag-Pb-Zn
ZKX1166 47.45 47.97 781 0.52 0.47 501 3.08 0.33 0.05 0.20 N/A Ag-Pb-Zn
ZKX1343 41.39 42.41 796 1.02 0.85 206 1.89 0.21 0.05 0.06 N/A Ag-Pb-Zn
High-Grade Silver-Lead-Zinc Veins and a new gold structure at theEast Side of the Resource Area
ZKX07X076 67.73 68.34 789 0.61 0.58 339 3.05 0.50 0.02 0.07 LM41E Ag-Pb-Zn
ZKX09X031 93.91 94.88 719 0.97 0.79 187 5.44 0.28 0.05 0.08 LM41E Ag-Pb-Zn
ZKX09X032 77.77 78.70 737 0.93 0.65 190 1.99 0.18 0.02 0.09 LM41E Ag-Pb-Zn
ZKX09X033 106.67 109.00 702 2.33 1.58 331 1.27 0.13 0.05 0.08 LM41E Ag-Pb-Zn
ZKX10944 103.54 105.03 776 1.49 1.40 541 0.58 0.07 0.04 0.06 LM41E Ag-Pb-Zn
ZKX10944 153.01 155.14 763 2.13 2.00 478 2.14 0.90 5.97 0.08 N/A Au-Ag
ZKX10949 97.37 97.91 765 0.54 0.52 495 0.60 0.10 0.05 0.06 LM41E Ag-Pb-Zn
ZKX1143 58.13 61.24 754 3.11 2.40 993 1.35 0.54 0.05 0.12 LM41E Ag-Pb-Zn
ZKX1166 53.63 54.99 778 1.36 1.23 2,415 2.61 0.40 0.05 0.90 LM41E Ag-Pb-Zn
ZKX1187 49.67 50.54 789 0.87 0.79 433 1.31 0.23 0.02 0.05 LM41E Ag-Pb-Zn
ZKX09X034 98.86 100.48 717 1.62 1.00 341 16.78 1.32 0.15 0.09 LM41E1 Ag-Pb-Zn
ZKX09X033 102.05 103.35 706 1.30 0.88 1,976 1.74 0.45 0.79 0.23 LM41E1Wa Ag-Pb-Zn
ZKX1166 39.51 40.37 785 0.86 0.78 850 0.64 0.23 0.05 0.06 LM41E1Wa Ag-Pb-Zn
ZKX10735 68.32 69.50 760 1.18 1.18 3 0.01 0.04 5.37 0.00 N/A Au
ZKX10739 73.70 74.65 754 0.95 0.95 4 0.02 0.03 5.65 0.00 N/A Au

 

[1] New, unnamed veins

 

 

Tunneling Programs at the LMW Mine              

 

A total of 3,566 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 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 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 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 0.4 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 procedure is adopted to monitor the analytical quality at each lab. Certified reference materials, 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.

 

Posted October 6, 2022

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