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:
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:
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
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
|Total Mineralization Exposed by Drifts |
|LM12_1, LM14, LM16,
LM17, LM17W, LM19W2,
LM41E, LM41E1, LM41Ea,
LM50, LM7, W1, W6, W6E1,
6E2, W6W, W18
| 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:
Table 1: Selected results from the 2021 drill programs at the LMW mine
| True width not determined|
| New veins with no name assigned.|
Table 2: Selected mineralized zones exposed by drift tunnelling at the LMW mine
| cross cut|
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.
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.
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