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Silvercorp Intersects Vein LM5 With 0.91 Metres True Width Grading 6,455 Grams Per Tonne Silver and 10 Grams Per Tonne Gold at the LME Mine, Ying Mining District, China

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Silvercorp Intersects Vein LM5 With 0.91 Metres True Width Grading 6,455 Grams Per Tonne Silver and 10 Grams Per Tonne Gold at the LME 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 LME mine. Extensive exploration drilling and tunneling are ongoing at the LME mine, and all other mines at the Ying Mining District, Henan Province, China.

 

From October 1, 2020 to May 31, 2021, 17,752 metres from a total of 113 diamond drill holes, including 98 underground holes and 15 surface holes, were completed at the LME mine.  Assay results for 102 holes have been received, with 52 holes intercepting mineralization. Currently, seven rigs are drilling at the LME mine.

 

Drilling Intersects High-Grade Veins in and outside the Resource Areas

 

The diamond drilling programs at the LME mine targeted blocks of known silver-lead-zinc veins in the resource 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.  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 veins LM5, LM5E, LM5E1, LM5E2, M5W, and LM5W2.  Other veins include LM4W, LM4W2, LM6 and its parallel veins LM6E, LM6E2, LM6W and LM6W1.

 

Step-out drilling at the LME mine also hit high-grade silver-lead-zinc mineralization, including veins LM61 and LM66 to the south and vein ML18E to the north. Hole ZKG20AT1704 confirmed that the north-south striking vein T17E at the TLP mine extended southward to the area between the TLP and LME mines. These discoveries confirm the potential of high-grade silver-lead mineralization extending beyond the defined resource area of the LME mine.

 

Highlights of high-grade intercepts of vein LM5, LM6 and their parallel veins at the LME mine:

 

  • Hole ZKL5202SC intersected a 0.92 m interval (0.91 m true width) of vein LM5 grading 6,455 grams per tonne silver, 5.28% lead, 1.19% zinc, 10.00 g/t gold, and 0.29% copper at the 498 m elevation;
  • Hole ZKL51LM4E204 intersected a 0.76 m interval (0.68 m true width) of vein LM5E grading 1,538 g/t Ag, 5.65% Pb, 1.89% Zn, 0.73 g/t Au, and 0.38% Cu at the 573 m elevation;
  • Hole ZKL53LM4E208 intersected a 0.71 m interval (0.65 m true width) of vein LM5W2 grading 1,902 g/t Ag, 1.48% Pb, 0.32% Zn, 0.01 g/t Au, and 0.48% Cu at the 633 m elevation;
  • Hole ZKL5801SC intersected a 0.94 m interval (0.53 m true width) of vein LM6E2 grading 3,014 g/t Ag, 5.51% Pb, 0.39% Zn, 0.20 g/t Au, and 0.11% Cu at the 502 m elevation;
  • Hole ZKL53LM602 intersected a 0.65 m interval (0.64 m true width) of vein LM6W grading 1,596 g/t Ag, 2.06% Pb, 0.63% Zn, 0.05 g/t Au, and 0.27% Cu at the 680 m elevation; and
  • Hole ZKLDB1712 intersected a 1.14 m interval (1.08 m true width) of vein LM61 grading 13.70 g/t Au, 19 g/t Ag, 0.51% Pb, 0.08% Zn, and 0.01% Cu at the 681 m elevation.

 

In-fill Drilling of Sub-Horizontal Gold Zone LM4E2

 

During this period, 22 out of the 44 holes targeting the sub-horizontal gold structures of LM4E2 intersected gold mineralization (Table 1).

  • Hole ZKL55LM4E203 intersected a 1.16 m interval (0.93 m true width) of vein LM4E2 grading 5.43 g/t Au and 70 g/t Ag at the 581 m elevation.

 

Table 1: Selected intercepts from the 2021 drill programs at the LME 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
ZKG20AT1704 91.46 92.16 872 0.70 0.66 389 1.29 1.41 0.05 0.04 T17E Ag-Pb
ZKL51ALM4E201 23.28 24.03 593 0.75 0.46 5 5.41 0.24 0.10 0.02 LM4W Ag-Pb
ZKL51ALM4E202 35.07 36.32 620 1.25 0.88 490 0.94 0.59 0.01 0.06 LM6 Ag-Pb
ZKL51ALM4E204 23.19 23.75 638 0.56 0.52 326 0.74 0.21 0.01 0.10 LM6 Ag-Pb
ZKL51ALM4E204 112.87 113.61 581 0.74 0.68 2,148 5.84 2.48 0.38 0.51 LM4E2 Au
ZKL51ALM4E205 19.31 19.83 641 0.52 0.50 635 2.51 0.90 0.03 0.28 LM6W1 Ag-Pb
ZKL51BLM4E201 24.50 25.13 640 0.63 0.51 123 0.28 0.15 0.01 0.09 LM6 Ag-Pb
ZKL51LM4E202 32.06 33.26 626 1.20 0.75 290 0.85 0.32 0.01 0.07 LM6 Ag-Pb
ZKL51LM4E203 23.74 28.83 634 5.09 1.01 104 0.75 0.18 0.01 0.05 LM6 Ag-Pb
ZKL51LM4E204 99.51 102.96 586 3.45 1.02 772 1.84 0.93 0.03 0.24 LM5 Ag-Pb
ZKL51LM4E204 121.16 121.92 573 0.76 0.68 1,538 5.65 1.89 0.73 0.38 LM5E Ag-Pb
ZKL5201SC 26.42 27.09 489 0.67 0.56 199 0.84 0.29 0.04 0.03 LM5 Ag-Pb
ZKL5201SC 54.73 55.79 475 1.06 0.49 215 1.47 0.39 0.31 0.03 LM5E Ag-Pb
ZKL5202SC 21.50 22.42 498 0.92 0.91 6,455 5.28 1.19 10.00 0.29 LM5 Ag-Pb
ZKL5202SC 52.83 54.05 489 1.22 1.20 395 0.56 0.04 0.04 0.08 LM5E Ag-Pb
ZKL5202SC 63.30 63.92 487 0.62 0.92 345 1.30 0.10 0.05 0.04 LM9 Ag-Pb
ZKL5202Y 184.44 185.37 889 0.93 0.72 247 0.37 1.76 0.01 0.04 LM18E1 Ag-Pb
ZKL5203SC 29.80 31.04 475 1.24 0.98 149 0.28 0.09 0.39 0.03 [1] Ag-Pb
ZKL5204SC 23.36 23.94 485 0.58 0.50 837 3.17 0.14 0.76 0.03 LM5W Ag-Pb
ZKL52LM6W01 22.76 23.32 541 0.56 0.30 200 0.48 2.05 0.03 0.06 LM6W1 Ag-Pb
ZKL53ALM4E201 62.51 63.60 544 1.09 0.47 14 0.21 0.18 2.13 0.04 LM4E2 Au
ZKL53ALM4E202 72.92 74.02 542 1.10 0.95 14 0.22 0.21 1.22 0.01 LM4E2 Au
ZKL53ALM4E202 79.18 79.79 537 0.61 0.53 1 0.03 0.01 2.66 0.01 LM4 Ag-Pb
ZKL53ALM4E202 281.67 283.34 370 1.67 0.52 204 0.64 0.36 0.46 0.03 LM5 Ag-Pb
ZKL53ALM4E202 314.97 316.25 343 1.28 0.79 138 0.02 0.03 0.01 0.01 LM5E Ag-Pb
ZKL53ALM4E203 163.55 164.51 510 0.96 0.77 104 0.27 0.46 0.01 0.16 LM5W2 Ag-Pb
ZKL53ALM4E204 89.14 90.64 561 1.50 1.18 26 0.75 0.21 3.23 0.03 LM4E2 Au
ZKL53ALM4E204 157.88 159.62 529 1.74 0.79 177 3.33 2.25 0.06 0.05 LM5W Ag-Pb
ZKL53ALM4E205 54.15 55.52 565 1.37 1.05 3 0.04 0.02 2.30 0.01 LM4E2 Au
ZKL53ALM4E207 82.72 83.55 571 0.83 0.65 2 0.04 0.00 2.50 0.01 LM4E2 Au
ZKL53LM4E202 97.77 99.08 544 1.31 0.98 12 0.16 0.05 1.40 0.03 LM4E2 Au
ZKL53LM4E202 132.69 134.22 523 1.53 1.14 2 0.02 0.01 1.62 0.01 LM6 Ag-Pb
ZKL53LM4E208 29.52 30.23 633 0.71 0.65 1,902 1.48 0.32 0.01 0.48 LM5W2 Ag-Pb
ZKL53LM602 23.73 24.84 696 1.11 1.09 341 0.16 0.13 0.05 0.35 LM4W Ag-Pb
ZKL53LM602 41.6 44.04 690 2.44 2.39 118 0.73 0.31 0.05 0.02 LM4 Ag-Pb
ZKL53LM602 73.36 74.01 680 0.65 0.64 1,596 2.06 0.63 0.05 0.27 LM6W Ag-Pb
ZKL53LM603 64.54 65.38 645 0.84 0.74 718 0.41 0.43 0.00 0.10 LM4 Ag-Pb
ZKL53LM603 108.98 110.56 604 1.58 1.38 432 0.92 0.38 0.00 0.04 LM6W Ag-Pb
ZKL53LM603 179.78 180.31 540 0.53 0.47 165 0.23 0.06 0.03 0.01 LM5W2 Ag-Pb
ZKL5403SC 4.12 8.19 499 4.07 2.90 280 0.45 0.23 0.28 0.02 LM6E2 Ag-Pb
ZKL5403SC 129.98 130.76 388 0.78 0.56 696 6.53 0.97 0.00 0.28 LM5E2 Ag-Pb
    including 7.59 8.19 496 0.60 0.47 1,238 2.04 0.82 1.24 0.06 LM6E2 Ag-Pb
ZKL5404SC 44.52 45.39 477 0.87 0.76 239 0.24 0.11 0.05 0.02 LM5W Ag-Pb
ZKL54ALM6W01 2.95 3.38 552 0.43 0.30 454 1.44 0.14 0.15 0.05 LM6 Ag-Pb
ZKL54ALM6W01 38.78 40.26 541 1.48 0.53 256 0.14 0.16 0.06 0.07 LM6W Ag-Pb
ZKL54ALM6W01 129.54 130.08 511 0.54 0.39 29 0.08 0.05 1.59 0.01 LM4W2 Ag-Pb
ZKL55ALM4E203 38.41 39.04 570 0.63 0.45 186 1.40 0.20 0.83 0.52 LM4E2 Au
ZKL55ALM4E204 28.84 29.73 583 0.89 0.78 65 0.47 0.48 1.41 0.03 LM6W Ag-Pb
ZKL55ALM4E204 33.78 35.77 579 1.99 0.88 9 0.16 0.12 1.73 0.01 LM6 Ag-Pb
ZKL55ALM4E204 50.26 51.65 568 1.39 1.22 154 0.83 0.63 0.24 0.03 LM6E Ag-Pb
ZKL55ALM4E205 27.18 29.25 591 2.07 0.83 24 0.18 0.12 1.17 0.02 LM4E2 Au
ZKL55ALM4E205 50.88 51.42 581 0.54 0.43 828 0.53 0.23 0.04 0.06 LM6E Ag-Pb
ZKL55ALM4E207 76.91 77.88 593 0.97 0.58 108 0.32 0.25 1.28 0.02 LM4E2 Au
ZKL55LM4E201 65.09 69.39 559 4.30 1.03 14 0.34 0.19 2.05 0.02 LM4E2 Au
ZKL55LM4E202 84.70 85.92 565 1.22 1.00 27 0.67 0.21 1.98 0.02 LM4E2 Au
ZKL55LM4E203 26.44 27.60 581 1.16 0.93 70 0.57 0.26 5.43 0.02 LM4E2 Au
ZKL55LM4E203 78.30 79.10 539 0.80 0.63 2 0.35 0.00 1.51 0.01 LM5W2 Ag-Pb
ZKL55LM4E204 47.45 48.49 578 1.04 0.98 16 0.09 0.27 2.22 0.01 LM4E2 Au
ZKL5601Y 297.12 298.02 811 0.90 0.83 177 1.56 0.48 0.04 0.01 LM3_1 Ag-Pb
ZKL5602Y 126.54 127.73 897 1.19 1.00 103 4.17 0.60 0.05 0.06 LM18E1 Ag-Pb
ZKL5602Y 152.39 153.64 893 1.25 1.05 37 3.74 0.39 0.05 0.05 LM2_1 Ag-Pb
ZKL57LM4E201 65.15 66.23 554 1.08 0.83 5 0.25 0.03 2.00 0.03 LM4E2 Au
ZKL57LM4E204 46.03 47.56 585 1.53 0.91 14 0.30 0.36 1.20 0.02 LM4E2 Au
ZKL57LM4E206 75.18 80.32 594 5.14 0.61 321 1.91 0.89 0.16 0.04 LM4E2 Au
ZKL57LM601 89.62 90.96 807 1.34 1.32 311 0.73 0.31 0.05 0.05 LM6 Ag-Pb
ZKL57LM601 120.89 123.60 794 2.71 2.67 143 2.42 0.08 0.05 0.02 LM5 Ag-Pb
ZKL5801SC 4.9 5.84 502 0.94 0.53 3,014 5.51 0.39 0.20 0.11 LM6E2 Ag-Pb
ZKL5802SC 5.53 6.5 500 0.97 0.81 328 0.32 0.10 0.05 0.05 LM6E2 Ag-Pb
ZKL58ALM6E201 129.67 130.52 522 0.85 0.79 210 0.22 0.25 0.10 0.04 LM6E2 Ag-Pb
ZKL58ALM6E201 190.78 192.56 484 1.78 1.64 88 1.40 0.46 0.07 0.06 LM5E1 Ag-Pb
ZKL61B01 80.70 81.55 590 0.85 0.31 38 0.10 0.23 1.59 0.01 LM4E2 Au
ZKL61E02 33.61 34.98 625 1.37 1.36 85 1.54 0.39 2.16 0.04 LM4E2 Au
ZKL63ALM4E205 41.74 43.29 634 1.55 0.71 149 1.45 0.96 4.23 0.60 LM5 Ag-Pb
ZKL63ALM4E205 76.36 78.66 618 2.30 0.54 60 0.70 0.14 0.91 0.01 LM4E2 Au
ZKL63LM4E206 39.03 40.11 633 1.08 0.74 2 0.04 0.02 1.95 0.01 LM4E2 Au
ZKL64Y09 49.20 49.74 806 0.54 0.47 18 3.35 0.19 0.05 0.01 LM2_2 Ag-Pb
ZKL64Y10 36.31 36.81 826 0.50 0.43 19 3.30 0.15 0.01 0.01 LM2E Ag-Pb
ZKL64Y11 31.34 31.83 830 0.49 0.40 13 4.46 0.08 0.01 0.01 LM2E Ag-Pb
ZKL68Y01 107.42 107.92 726 0.50 0.38 392 2.31 0.21 0.03 0.02 LM6 Ag-Pb
ZKLDB1712 238.15 239.29 681 1.14 1.08 19 0.51 0.08 13.70 0.01 LM61 Au
ZKLDB51LM4E202 0.89 2.00 902 1.11 1.10 156 0.12 0.06 0.01 0.09 LM66 Ag-Pb
ZKLDB56ALM4W01 264.50 265.30 952 0.80 0.79 397 0.58 0.12 0.10 0.04 LM4W Ag-Pb
ZKLDB57ALM503 380.87 382.80 691 1.93 1.81 2 0.01 0.01 2.01 0.01 LM4E2 Au

[1] No vein id assigned

 

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, 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 22, 2021

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