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Silvercorp Intersects Vein H17_1 With 1.21 Metres True Width Grading 20.8 Grams Per Tonne Gold and 64 Grams Per Tonne Silver at the HPG Mine, Ying Mining District, China

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Silvercorp Intersects Vein H17_1 With 1.21 Metres True Width Grading 20.8 Grams Per Tonne Gold and 64 Grams Per Tonne Silver at the HPG Mine, Ying Mining District, China

 

 

 

 

 

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) is pleased to report results from its 2021 exploration programs at the HPG mine. Extensive exploration drilling and tunneling are ongoing at the HPG mine, and all other mines at the Ying Mining District, Henan Province, China.

 

From November 1, 2020 to May 31, 2021, 23,977 metres from a total of 133 diamond drill holes, including 66 underground holes and 67 surface holes, were completed at the HPG mine.  Assay results for 127 holes have been received, with 51 holes intercepting mineralization. Currently, 11 rigs are drilling at the HPG mine.

 

Drilling Intersected High-Grade Veins in the Production Areas

 

The diamond drilling programs at the HPG mine targeted blocks of known silver-lead-zinc and gold veins in the production areas that were previously missed due to limited drilling and tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins. Since access tunnels are already in place, any discovered high-grade blocks can quickly be converted to reserves and mined.

 

The high-grade intercepts for this period are associated with parallel silver-lead-zinc veins H5, H5W, and H5_2, and gold veins H16, H16_3, and H171W. Other veins include H10_1, H10_1a, H11, H12_1, and H13.

 

Highlights of high-grade intercepts at the HPG mine production area:

 

  • Hole ZK01N03 intersected a 1.94 m interval (1.58 m true width) of silver-lead-zinc vein H5 grading 719 grams per tonne silver, 13.09% lead, 5.09% zinc, 1.77 g/t gold, and 0.19% copper at the 373 m elevation, which includes a 1.23 m interval (1.00 m true width) grading 1,051 g/t Ag, 20.11% Pb, 7.58% Zn, 1.71 g/t Au, and 0.25% Cu at the 373 m elevation;
  • Hole ZK01N04 intersected a 2.89 m interval (2.36 m true width) of Ag-Pb-Zn vein H5W grading 150 g/t Ag, 2.91% Pb, 9.36% Zn, 0.50 g/t Au, and 0.05% Cu at the 362 m elevation, which includes a 0.76 m interval (0.62 m true width) grading 420 g/t Ag, 8.33% Pb, 30.93% Zn, 0.56 g/t Au, and 0.14% Cu at the 362 m elevation; and
  • Hole ZK2736 intersected a 1.16 m interval (1.01 m true width) of Au vein H16_3 grading 8 g/t Ag, 0.06 % Pb, 0.03% Zn, 11.80 g/t Au, and 0.01 % Cu at the 498 m elevation.

 

Surface and Underground Drilling Intersected High-Grade Gold Veins at Near Surface at the HPG Mine Resource Area

 

Surface and underground diamond drilling tested some artisanal workings in the northeast part of the HPG mining permit area and intersected high-grade Au veins. A follow-up drilling program will further test this discovery.

 

Highlights of high-grade, near-surface intercepts of Au vein H17 and H17_1 in the resource area:

  • Hole ZK3817 intersected a 1.45 m interval (1.27 m true width) of Au vein H17_1 grading 64 g/t Ag, 0.26% Pb, 0.05% Zn, 20.78 g/t Au, and 0.01% Cu at the 730 m elevation;
  • Hole ZK2410 intersected a 4.98 m interval (2.53 m true width) of Au vein H17 grading 16 g/t Ag, 0.06% Pb, 0.04% Zn, 9.86 g/t Au, and 0.01% Cu at the 774 m elevation, which includes a 1.06 m interval (0.67 m true width) grading 21 g/t Ag, 0.08% Pb, 0.02% Zn, 26.38 g/t Au, and 0.01% Cu at the 775 m elevation;
  • Hole ZK4401 intersected a 2.24 m interval (1.92 m true width) of Au vein H17 grading 8 g/t Ag, 0.01% Pb, 0.02% Zn, 11.39 g/t Au, and 0.01% Cu at the 696 m elevation, which includes a 1.30 m interval (1.11 m true width) grading 12 g/t Ag, 0.01% Pb, 0.01% Zn, 18.19 g/t Au, and 0.01% Cu at the 695 m elevation; and
  • Hole ZK2019 intersected a 1.81 m interval (1.68 m true width) of Au vein H17 grading 37 g/t Ag, 0.31% Pb, 0.05% Zn, 10.15 g/t Au, and 0.03% Cu at the 756 m elevation.

 

Table 1: Selected intercepts from the 2021 drill programs at the HPG 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
ZK01N03 44.83 46.77 373 1.94 1.58 719 13.09 5.09 1.77 0.19 H5 Ag-Pb-Zn
incl. 44.83 46.06 373 1.23 1.00 1051 20.11 7.58 1.71 0.25 H5 Ag-Pb-Zn
ZK01N04 75.10 77.99 362 2.89 2.36 150 2.91 9.36 0.50 0.05 H5W Ag-Pb-Zn
incl. 76.41 77.17 362 0.76 0.62 420 8.33 30.93 0.56 0.14 H5W Ag-Pb-Zn
ZK02N11 28.09 28.70 358 0.61 0.29 25 0.83 0.60 6.56 0.02 H5E Au
ZK03N03 66.53 67.57 323 1.04 0.48 68 3.70 1.09 0.07 0.07 H5 Ag-Pb-Zn
ZK07N10 24.58 26.10 368 1.52 1.20 407 1.36 3.99 0.66 0.06 H5 Ag-Pb-Zn
ZK09N02 143.86 145.38 469 1.52 1.18 5 0.02 0.01 1.68 0.05 H5 Ag-Pb-Zn
ZK09N03 207.58 208.82 402 1.24 0.95 8 0.10 0.05 2.73 0.01 H5 Ag-Pb-Zn
ZK09N04 25.20 25.81 501 0.61 0.36 314 0.85 2.31 0.13 0.05 H5_2 Ag-Pb-Zn
ZK09N11 26.97 28.80 543 1.83 1.19 164 0.18 0.03 0.96 0.07 H5 Ag-Pb-Zn
ZK09N12 40.54 41.51 862 0.97 0.83 42 0.94 0.09 0.93 0.09 H5_2 Ag-Pb-Zn
ZK09N14 19.21 20.89 552 1.68 1.45 14 0.03 0.02 1.62 0.05 H5_2 Ag-Pb-Zn
ZK10N15 99.26 102.02 623 2.76 1.40 35 2.69 0.09 1.73 0.05 H32E1 Ag-Pb-Zn
ZK10N15 110.46 111.44 621 0.98 0.80 85 6.19 0.08 0.48 0.08 H15W Ag-Pb-Zn
ZK1122 43.05 47.55 714 4.50 2.01 28 4.20 0.24 0.11 0.03 B1 Ag-Pb-Zn
ZK1122 114.49 120.04 646 5.55 1.61 156 5.18 0.15 0.35 0.03 H10_1 Ag-Pb-Zn
ZK1122 275.47 276.43 491 0.96 0.35 26 5.63 1.36 0.04 0.04 H11 Ag-Pb-Zn
ZK1132 2.80 4.04 660 1.24 0.63 108 1.21 0.18 0.15 0.03 H14a Ag-Pb-Zn
ZK1132 132.16 133.37 622 1.21 0.78 235 0.65 0.07 3.33 0.07 H11 Ag-Pb-Zn
ZK1132 172.78 174.13 611 1.35 0.90 138 1.82 0.30 0.29 0.17 H9 Ag-Pb-Zn
ZK11N02 107.06 108.59 501 1.53 0.90 6 0.04 0.04 1.68 0.01 H5_3 Au
ZK12202 110.53 111.51 628 0.98 0.73 7 0.21 0.26 1.48 0.01 H12_1 Au
ZK12203 139.70 140.91 586 1.21 0.75 3 0.12 0.09 5.10 0.03 H12_1 Au
ZK1325 109.67 111.59 654 1.92 1.60 137 0.65 2.60 0.90 0.03 H16 Ag-Pb-Zn
ZK1326 174.61 175.50 604 0.89 0.67 64 3.10 2.48 0.03 0.01 H9 Ag-Pb-Zn
ZK1327 183.00 184.08 623 1.08 0.77 15 0.16 0.27 2.01 0.01 H10_1 Ag-Pb-Zn
ZK13N02 57.49 58.72 704 1.23 0.67 19 3.75 0.36 0.07 0.03 H10_1W Ag-Pb-Zn
ZK13N02 224.37 225.99 551 1.62 0.88 123 0.03 0.01 1.02 0.00 H11 Ag-Pb-Zn
ZK13N03 110.59 111.57 676 0.98 0.77 120 0.06 0.08 0.33 0.00 H9 Ag-Pb-Zn
ZK13N05 4.20 5.14 664 0.94 0.64 20 0.45 0.47 1.15 0.02 H14a Ag-Pb-Zn
ZK13N05 41.42 44.83 669 3.41 2.33 421 0.79 1.77 2.47 0.08 H11_1 Ag-Pb-Zn
ZK1413 433.50 438.09 484 4.59 2.89 13 0.36 0.16 1.40 0.01 H21 Ag-Pb-Zn
ZK14N09 115.47 116.47 624 1.00 0.70 31 2.48 0.09 0.29 0.10 H15Wa Ag-Pb-Zn
ZK1639 34.49 35.99 794 1.50 1.12 110 0.19 0.09 1.08 0.01 H17_1 Au
ZK1639 56.81 57.83 776 1.02 0.76 6 0.04 0.09 4.59 0.01 H17 Au
ZK1710 83.02 84.22 702 1.20 1.06 13 2.01 2.59 0.03 0.00 H10_1 Ag-Pb-Zn
ZK1812 72.17 73.42 748 1.25 0.78 367 12.33 0.42 1.42 0.09 H18 Ag-Pb-Zn
ZK1816 122.49 123.63 727 1.14 1.11 15 0.15 0.05 1.64 0.00 H18 Ag-Pb-Zn
ZK1819 119.47 119.98 715 0.51 0.49 452 0.46 1.12 0.44 0.08 H17 Au
ZK1824 32.42 33.43 778 1.01 0.78 13 0.06 0.04 6.08 0.01 H17 Au
ZK1952 85.47 86.22 609 0.75 0.34 21 0.15 0.20 3.52 0.03 H10_1a Au
ZK1952 185.96 186.84 559 0.88 0.65 47 2.30 0.17 0.28 0.01 H11 Ag-Pb-Zn
ZK2019 80.80 82.61 756 1.81 1.68 37 0.31 0.05 10.15 0.03 H17 Au
ZK2118 101.24 102.05 695 0.81 0.79 3 0.02 0.02 1.85 0.01 H11 Ag-Pb-Zn
ZK2132 88.76 89.81 617 1.05 0.76 23 6.30 0.22 0.14 0.01 H39_2 Ag-Pb-Zn
ZK2132 110.21 111.41 613 1.20 0.87 1 0.03 0.02 2.19 0.01 H12_1 Au
ZK2136 204.35 205.70 573 1.35 1.33 5 0.06 0.10 1.66 0.01 H10_1 Ag-Pb-Zn
ZK2137 39.75 41.26 599 1.51 0.90 2 0.01 0.01 3.65 0.00 H12Ea Au
ZK2214 124.48 127.20 749 2.72 1.53 132 0.17 0.15 0.92 0.02 H17 Au
ZK2335_1 224.93 226.93 611 2.00 1.43 149 4.64 0.96 1.45 0.53 H12_1 Au
ZK2335_1 453.34 454.29 427 0.95 0.68 8 0.14 0.20 6.85 0.01 H16 Ag-Pb-Zn
ZK2335_1 457.34 460.03 423 2.69 1.94 60 0.47 0.33 1.20 0.01 H16a Ag-Pb-Zn
ZK2335_1 551.74 552.19 349 0.45 0.36 136 5.71 0.04 0.98 0.11 H15 Ag-Pb-Zn
ZK2337 80.78 82.33 705 1.55 1.27 47 4.49 3.06 0.81 0.11 H9 Ag-Pb-Zn
ZK2337 171.77 172.34 641 0.57 0.47 2 0.11 0.42 3.35 0.01 H14 Au
ZK2337 182.89 185.10 633 2.21 1.82 11 1.12 1.21 0.81 0.07 H16a Ag-Pb-Zn
ZK2345 169.12 169.86 575 0.74 0.67 5 0.04 0.08 7.74 0.00 H13 Au
ZK2410 101.35 106.33 774 4.98 2.53 16 0.06 0.04 9.86 0.01 H17 Au
incl. 101.35 102.41 775 1.06 0.67 21 0.08 0.02 26.38 0.01 H17 Au
ZK2411 119.48 120.50 770 1.02 0.65 8 0.53 0.04 3.72 0.00 H18 Ag-Pb-Zn
ZK2541 79.84 81.60 710 1.76 1.42 200 2.73 4.04 0.59 0.12 H9 Ag-Pb-Zn
ZK2541 191.12 193.07 637 1.95 1.74 18 0.61 0.77 1.74 0.11 H16 Ag-Pb-Zn
ZK2541 250.58 251.30 599 0.72 0.54 2 0.16 0.25 2.35 0.01 H17_1 Au
ZK2729 4.71 6.25 652 1.54 0.93 1 0.00 0.00 2.47 0.00 H39_1 Au
ZK2729 145.58 146.23 630 0.65 0.48 7 2.11 0.12 1.71 0.02 H11 Ag-Pb-Zn
ZK2736 51.22 51.87 759 0.65 0.51 240 9.34 0.16 0.23 0.07 H39_2 Ag-Pb-Zn
ZK2736 355.40 356.31 540 0.91 0.78 14 0.54 0.16 1.46 0.01 H16 Ag-Pb-Zn
ZK2736 417.01 418.17 498 1.16 1.01 8 0.06 0.03 11.80 0.01 H16_3 Au
ZK2736 547.95 549.04 409 1.09 0.48 148 0.61 0.06 0.06 0.19 H20W Ag-Pb-Zn
ZK2739 73.18 73.91 710 0.73 0.40 1 0.03 0.06 4.95 0.01 H39_1 Au
ZK2739 333.61 334.54 528 0.93 0.56 14 4.07 0.15 0.24 0.03 H12E Ag-Pb-Zn
ZK3620 207.87 210.18 760 2.31 2.11 33 0.07 0.02 2.30 0.00 H17_1 Au
ZK3624 366.14 366.86 635 0.72 0.65 3 0.05 0.09 2.57 0.04 H22 Au
ZK3625 238.47 239.48 707 1.01 0.89 39 0.18 0.11 3.45 0.01 H17_1 Au
ZK3625 265.31 266.04 686 0.73 0.65 65 0.27 0.10 3.58 0.03 H17 Au
ZK3816 200.84 203.36 705 2.52 1.74 31 0.41 0.12 1.98 0.01 H17 Au
ZK3817 129.92 131.16 774 1.24 0.70 3 0.04 0.02 1.63 0.00 H17_1W Au
ZK3817 187.33 188.78 730 1.45 1.27 64 0.26 0.05 20.78 0.01 H17_1 Au
ZK3817 193.98 199.21 725 5.23 4.71 33 0.30 0.11 1.33 0.02 H17 Au
ZK3818 119.20 120.41 782 1.21 1.05 2 0.05 0.02 2.49 0.00 H17_1W Au
ZK3818 183.39 184.57 733 1.18 1.07 56 0.12 0.01 2.01 0.02 H17 Au
ZK4013 143.68 144.51 776 0.83 0.57 659 0.06 0.01 1.77 0.01 H17 Au
ZK4014 173.28 174.12 731 0.84 0.70 74 0.06 0.08 0.90 0.01 H17 Au
ZK4016 189.85 192.66 707 2.81 2.23 52 0.77 0.54 3.71 0.02 H17 Au
ZK4401 195.07 197.31 696 2.24 1.92 8 0.01 0.02 11.39 0.01 H17 Au
 incl. 196.01 197.31 695 1.30 1.11 12 0.01 0.01 18.19 0.01 H17 Au

 

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 the Analytical Lab of the Inner Mongolia Geological Exploration Bureau in Hohhot, Inner Mongolia, China. All the three labs are ISO9000 certified analytical labs. For analysis, the sample is dried and crushed to minus 1 mm and then split to 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, and 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 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.

 

Posted June 15, 2021

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