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Silvercorp Intersects Vein LM7 With 19.67 Metres True Width Grading 261 Grams Per Tonne Silver, 1.1% Lead, and 0.78% Copper at the LMW Mine, Ying Mining District, China

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Silvercorp Intersects Vein LM7 With 19.67 Metres True Width Grading 261 Grams Per Tonne Silver, 1.1% Lead, and 0.78% Copper at the LMW Mine, Ying Mining District, China

 

 

 

 

 

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) is pleased to report wide and high-grade intercepts from its 2021 exploration program at the LMW mine, Ying Mining District, Henan Province, China. Extensive exploration drilling and tunnelling are ongoing at the LMW mine and all other mines at the Ying Mining District.

 

The drilling program from October 1, 2020 to May 1, 2021 at the LMW mine has been focused on in-fill drilling target areas of known silver-lead-zinc veins that were believed to be uneconomic based on limited prior drilling and tunneling. Currently, ten rigs are drilling at the LMW mine and a total of 116 diamond drill holes, including 100 underground holes and 16 surface holes totaling 22,890 metres (“m”) have been completed. Assay results for 101 holes have been received with 53 holes intercepting many zones of high-grade silver-lead mineralization and gold mineralization, including veins LM7, LM7E, LM8, LM8_1, LM12, LM12_1, LM13, LM13W, LM16W1, LM17, LM17E, LM19, LM19Wa, LM41E, LM41E1, and LM50.

 

Wide Intercepts of Vein LM7

 

Four in-fill drill holes, together with cross-cut tunnels and previously intercepted drill holes, have defined a block of vein LM7 showing wide intercepts trace along a strike length of 320 m near the development tunnels at the 600 m level. Currently, three rigs are drilling this discovery:

 

  • Hole ZKX0575 intersected a 20.75 m interval (19.67 m true width) of vein LM7 grading 261 grams per tonne silver 1.08% lead, 0.04% zinc, 0.16 g/t gold, and 0.78% copper, which includes an 8.43 m interval (8.0 m true width) grading 532 g/t Ag, 2.20% Pb, 0.07% Zn, 0.31 g/t Au, and 1.62% Cu;
  • Hole ZKX0530 intersected a 25.58 m interval (23.96 m true width) of vein LM7 grading 202 g/t Ag, 1.26% Pb, 0.12% Zn, 0.15 g/t Au, and 0.37% Cu, including 3.98 m interval (3.73 m true width) grading 818 g/t Ag, 2.9% Pb, 0.05% Zn, 0.23 g/t Au, and 0.46% Cu;
  • Hole ZKX0751 intersected a 20.03 m interval (19.32 m true width) of vein LM7 grading 162 g/t Ag, 1.38% Pb, 0.11% Zn, 0.09 g/t Au, and 1.00% Cu; and
  • Hole ZKX0732 intersected a 16.93 m interval (16.16 m true width) of vein LM7 grading 112 g/t Ag, 2.00% Pb, 0.13% Zn, 0.09g/t Au, and 0.79% Cu.

 

Confirmation of Vein W1

 

Drilling and drift tunnels have further demonstrated continuity of the near north-south extending W1 and northwestern striking W6, W6E1, W6E2, W6W, and W18 veins, with high-grade silver-lead mineralization intercepts at 800 m to 950 m elevation in the northwestern part of the LMW mine. The discoveries are expected to expand the resources in this area.

 

Highlights of selected drill hole intercepts:

  • Hole ZKX0429 intersected a 1.51 m interval (1.50 m true width) of vein W1 grading 1,103 g/t Ag, 1.46% Pb, 0.10% Zn, 0.05 g/t Au, and 0.65% Cu, which includes a 0.79 m interval (0.77 m true width) grading 2,078 g/t Ag, 0.41% Pb, 0.11% Zn, 0.09 g/t Au, and 1.22% Cu; and
  • Hole ZKX0728 intersected a 1.17 m interval of vein W1 grading 1,072 g/t Ag, 1.52% Pb, 0.09% Zn, 0.15 g/t Au, and 0.08 Cu.

 

Ongoing Drilling of Sub-Horizontal Gold Zone at Vein LM50

 

As listed in Table 1 below, ten drill holes intercepted the sub-horizontal gold structures at LM50, with Hole ZKX0423 intersecting a 2.25 m interval (1.62 m true width) of vein LM50 grading 10.53 g/t Au.

 

In-fill Drilling of Other Veins

  • Hole ZKX0383 intersected a 2.59 m interval (1.95 m true width) of vein LM13 grading 1,166 g/t Ag, 0.04% Pb, 0.06% Zn, 0.74 g/t Au, and 0.65% Cu, which includes a 1.37 m interval (1.03 m true width) grading 2,179 g/t Ag, 0.07% Pb, 0.10% Zn, 0.05 g/t Au, and 0.90% Cu;
  • Hole ZKX0305_1 intersected a 6.44 m interval (2.67 m true width) of vein LM13W2 grading 386 g/t Ag, 1.82% Pb, 0.08% Zn, 0.07 g/t Au, and 0.80 g/t Cu; and
  • Hole ZKX3811 intersected a 5.16 m interval (4.97 m true width) of vein LM17 grading 388 g/t Ag, 1.95% Pb, 0.09% Zn, 0.04 g/t Au, and 0.08% Cu, which includes a 1.80 m interval (0.99 m true width) of 833 g/t Ag, 3.11%Pb, 0.10% Zn, 0.06 g/t Au, and 0.19% Cu.

 

Tunneling Results

 

In addition, a total of 3,352 m of exploration tunnels have been developed at the LMW mine during the period. These exploration tunnels (including 2,434 m of drifts) were driven along and across major mineralized vein structures to upgrade the drill defined mineral resources and test for new parallel and splay structures, and are summarized as follows:

 

 

Major Target Veins Elevation
(m)
Total
Tunneling

(m)
Channel
Samples

Collected
Drift
Included

(m)
Total Mineralization Exposed by Drifts [1]
Length
(m)
Average True
Width (m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
LM12_1, LM14, LM16,
LM17, LM17W, LM19W2,
LM41E, LM41E1, LM41Ea,
LM50, LM7, W1, W6, W6E1,
6E2, W6W, W18
500-1080 3,352 1,796 2,434 577 0.66 507 4.35 0.48 0.05 0.19
[1] Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 155 g/t at the LMW mine (Formula used for AgEq calculation: AgEq = Ag g/t + 35.06 * (Pb% + Cu%) + 79.57 * Au g/t).

 

Highlights of selected mineralized zones exposed in the drift tunnels:

 

  • Drift Tunnel XPDN-LM17-800-9SYM exposed mineralization 15 m long and 1.38 m wide (true width) grading 1,460 g/t Ag, 11.36% Pb, 0.87% Zn, 0.02 g/t Au, and 0.22% Cu within vein LM17;
  • Drift Tunnel XPDS-LM17-575-26SYM exposed mineralization 40 m long and 1.54 m wide (true width) grading 708 g/t Ag, 4.57% Pb, 0.40% Zn, 0.26 g/t Au and 0.47% Cu within vein LM17; and
  • Drift Tunnel PD918-W1-918-4SYM exposed mineralization 15 m long and 0.85 m wide (true width) grading 1,561 g/t Ag, 4.31% Pb, 0.62% Zn, 0.02 g/t Au, and 0.45% Cu within vein W1.

 

Table 1:  Selected results from the 2021 drill programs 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
ZKX0009 132.51 133.14 514 0.63 0.50 14 0.84 0.29 12.38 0.01 LM20 Au
ZKX0022 26.64 27.58 892 0.94 0.92 208 0.68 0.07 0.01 0.02 LM13 Ag-Pb
ZKX0024 5.38 6.39 902 1.01 0.69 1,623 0.20 0.08 0.01 0.04 LM13W Ag-Pb
ZKX0217 297.50 298.51 845 1.01 0.67 195 0.10 0.16 0.04 0.02 LM17 Ag-Pb
ZKX0305_1 48.80 49.57 882 0.77 0.35 2,290 0.31 0.05 0.01 0.02 LM22 Ag-Pb
ZKX0305_1 93.98 95.13 841 1.15 0.51 10 0.18 0.06 2.27 0.02 LM50 Au
ZKX0305_1 225.07 231.51 719 6.44 2.67 386 1.82 0.08 0.07 0.80 LM13W2 Ag-Pb
ZKX0305_1 250.08 251.91 700 1.83 0.76 467 0.40 0.05 0.01 0.15 LM21 Ag-Pb
ZKX0333 48.04 49.10 898 1.06 1.06 232 2.36 0.04 0.05 0.15 LM13W Ag-Pb
ZKX0355 115.70 116.43 813 0.73 0.73 19 5.87 0.31 0.04 0.00 LM19W2a Ag-Pb
ZKX0383 72.84 75.43 916 2.59 1.95 1,166 0.04 0.06 0.74 0.65 LM13 Ag-Pb
including 72.84 74.21 917 1.37 1.03 2,179 0.07 0.10 0.05 0.90 LM13 Ag-Pb
ZKX0413 287.53 288.34 409 0.81 0.50 286 1.79 0.14 0.02 0.09 LM41E Ag-Pb
ZKX0413 501.84 502.89 258 1.05 0.64 698 11.69 0.40 0.29 0.15 LM17E Ag-Pb
ZKX0423 221.18 222.51 757 1.33 0.96 222 1.96 0.67 0.03 0.08 LM17 Ag-Pb
ZKX0423 227.07 228.29 754 2.25 1.62 2 0.03 0.02 10.53 0.02 LM50 Au
ZKX0428 30.32 32.12 933 1.80 1.57 240 0.31 0.28 0.05 0.03 W18E Ag-Pb
ZKX0428 147.62 149.07 916 1.45 1.38 238 2.21 0.19 0.05 0.14 W1 Ag-Pb
ZKX0429 79.38 79.96 915 0.58 0.26 219 1.12 2.07 0.01 0.09 W2 Ag-Pb
ZKX0429 151.35 152.86 895 1.51 1.50 1,103 1.46 0.10 0.05 0.65 W1 Ag-Pb
Including 151.35 152.14 895 0.79 0.77 2,078 0.41 0.11 0.09 1.22 W1 Ag-Pb
ZKX0530 118.63 144.21 550 25.58 23.96 202 1.26 0.12 0.15 0.37 LM7 Ag-Pb
Including 140.23 144.21 540 3.98 3.73 818 2.90 0.05 0.23 0.46 LM7 Ag-Pb
ZKX0564 159.74 163.56 794 3.82 2.21 3 0.08 0.02 2.60 0.01 LM50 Au
ZKX0564 180.21 181.89 776 1.68 0.98 2 0.01 0.01 1.86 0.01 LM51 Au
ZKX0566 167.48 169.11 794 1.63 0.72 5 0.11 0.02 1.63 0.00 LM50 Au
ZKX0567 157.48 158.34 784 0.86 0.69 10 0.41 0.31 1.30 0.01 LM50 Au
ZKX0575 79.38 100.13 558 20.75 19.67 261 1.08 0.04 0.16 0.78 LM7 Ag-Pb
including 80.54 88.97 561 8.43 8.00 532 2.20 0.07 0.31 1.62 LM7 Ag-Pb
ZKX0719 18.94 19.60 912 0.66 [1] 1,121 7.24 0.35 0.21 0.11 LM19 Ag-Pb
ZKX0728 128.99 130.57 998 1.58 [1] 95 0.25 0.07 6.02 0.29 W1 Ag-Pb
ZKX0728 188.33 189.50 953 1.17 [1] 1,072 1.52 0.09 0.15 0.08 W1 Ag-Pb
ZKX0732 122.10 139.03 550 16.93 16.16 112 2.00 0.13 0.09 0.79 LM7 Ag-Pb
ZKX0751 73.73 74.23 565 0.50 0.45 212 0.87 0.76 0.11 0.14 [2] Ag-Pb
ZKX0751 82.29 102.32 557 20.03 19.32 162 1.38 0.11 0.09 1.00 LM7 Ag-Pb
ZKX0811 186.63 187.26 465 0.63 0.53 12 0.11 0.15 1.75 0.01 LM55 Au
ZKX0945 80.54 81.56 878 1.02 0.93 418 0.48 0.18 0.05 0.04 LM13 Ag-Pb
ZKX0945 277.30 278.25 759 0.95 0.86 214 0.55 0.15 0.15 0.39 LM8 Ag-Pb
ZKX0957 137.43 138.67 795 1.24 0.95 338 0.86 0.17 1.29 0.03 LM50 Au
ZKX0959 67.91 68.34 872 0.43 0.21 5,680 1.07 0.52 0.04 5.91 LM8_2 Ag-Pb
ZKX0959 130.27 132.20 819 1.93 0.92 223 0.13 0.02 0.01 0.08 LM8_1 Ag-Pb
ZKX0959 156.85 159.70 797 2.85 1.36 129 0.78 0.20 0.77 0.09 LM50 Au
ZKX10813 106.36 107.60 866 1.24 1.20 358 3.40 0.72 0.33 0.02 LM8_4 Ag-Pb
ZKX10813 144.84 145.38 843 0.54 0.52 52 5.68 0.50 0.03 0.05 LM8_4a Ag-Pb
ZKX10825 138.34 139.46 843 1.12 1.08 13 0.02 0.01 2.42 0.01 LM50 Au
ZKX10827 112.51 114.55 846 2.04 1.87 147 0.75 0.06 0.91 0.04 LM50 Au
ZKX1115 24.96 25.58 909 0.62 0.47 502 0.11 0.28 0.03 0.04 LM12 Ag-Pb
ZKX11210 133.80 134.99 836 1.19 0.70 6 0.01 0.02 2.32 0.00 LM50 Ag-Pb
ZKX11210 165.56 166.80 814 1.24 0.73 147 0.01 0.01 0.03 0.02 LM8W Ag-Pb
ZKX11210 337.53 338.50 697 0.97 0.59 129 0.32 0.15 0.01 0.07 LM8_3W Ag-Pb
ZKX11210 428.51 429.13 636 0.62 0.38 100 11.56 1.77 0.09 0.42 LM8_3 Ag-Pb
ZKX11210 512.78 513.57 579 0.79 0.48 261 3.72 0.55 0.09 0.08 LM8_4 Ag-Pb
ZKX11307 173.57 174.36 863 0.79 0.56 171 0.91 0.04 0.03 0.02 LM17W1 Ag-Pb
ZKX3811 90.89 93.11 921 2.22 1.85 512 0.48 0.1 0.01 0.24 LM16W1 Ag-Pb
ZKX3811 338.84 344.0 706 5.16 4.97 388 1.95 0.09 0.04 0.08 LM17 Ag-Pb
Including 340.77 342.89 705 1.80 0.99 833 3.11 0.10 0.06 0.19 LM17 Ag-Pb
ZKX4210 247.01 247.76 801 0.75 0.51 74 8.19 0.18 0.03 0.02 LM17 Ag-Pb
ZKX6403 42.08 42.49 1,010 0.41 0.37 29 0.02 0.04 0.01 3.03 LM17 Ag-Pb
ZKX6403 261.10 261.33 863 0.23 0.22 167 0.62 0.11 18.90 0.28 LMW8 Ag-Pb
[1] True width not determined
[2] New veins with no name assigned.

 

 

Table 2:  Selected mineralized zones exposed by drift tunnelling at the LMW mine

 

Tunnel ID Vein Elevation
(m)
Ore Length
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
g/t)
Cu
(%)
SJ969-LM7-550-9ECM [1] LM7 550 13.57 72 2.02 0.09 0.04 0.56
XPDS-LM14-575-26SYM LM14 575 10 0.45 38 1.63 0.73 0.02 0.06
XPDS-LM14-525-115NYM LM14 525 45 0.66 675 1.33 0.19 0.02 0.62
XPDS-LM16-695-109TJ-SYM LM16 675 42 0.65 584 2.56 0.34 0.02 0.45
XPDN-LM17-800-9SYM LM17 800 15 1.38 1,460 11.36 0.87 0.02 0.22
XPDN-LM17-750-7NYM LM17 750 40 0.72 517 6.50 0.38 0.02 0.10
XPDS-LM17-625-28SYM LM17 625 10 0.65 194 1.56 0.82 0.02 0.06
XPDS-LM17-575-26SYM LM17 575 40 1.54 708 4.57 0.40 0.26 0.47
PD1080-LM41E-1080-11SYM LM41E 1080 10 0.49 1,017 0.63 0.21 0.02 0.55
PD990-LM41E-990-9NYM LM41E 990 15 0.27 96 1.04 0.74 0.02 0.04
PD990-LM41E-990-9SYM LM41E 990 50 0.37 287 2.87 0.58 0.02 0.05
PD924-LM41E-924-3NYM LM41E 924 10 0.50 198 1.23 0.26 0.02 0.07
PD918-W1-918-4SYM W1 918 15 0.85 1,561 4.31 0.62 0.02 0.45
PD918-W1-880-8NYM W1 880 45 0.81 280 2.61 0.18 0.02 0.08
PD918-W18-880-140SYM W18 880 30 0.44 35 3.03 0.05 0.02 0.01
PD918-W18-880-140NYM W18 880 65 0.46 108 6.22 0.33 0.02 0.01
PD918-W6-880-128NYM W6 880 45 0.62 121 5.11 0.59 0.02 0.02
PD918-W6E1-880-138NYM W6E1 880 20 0.59 236 2.75 0.25 0.02 0.02
PD918-W6E1-880-138SYM W6E1 880 15 0.51 181 4.82 1.04 0.02 0.05
PD924-W6E1-834-132SYM W6E1 834 10 0.43 270 5.37 1.75 0.02 0.06
[1] cross cut

 

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, 226km northeast of Beijing, the Zhengzhou Nonferrous Exploration Institute Lab in Zhengzhou, Henan Province, China, and SGS-CSTC Standards Technical Services (Tianjin) Co., Ltd., Tianjin, China. All the three labs are ISO9000 certified analytical labs. For analysis, the sample is dried and crushed to minus 1mm 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 1.0 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, 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 May 25, 2021

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