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Silvercorp Reports Underground Exploration Results at the LM Mine, Ying Mining District, China

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Silvercorp Reports Underground Exploration Results at the LM Mine, Ying Mining District, China

 

 

 

 

 

Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) is pleased to report the results for its underground tunneling exploration program for 2012 and diamond drilling exploration program for the second half of 2012 at the LM mine, Ying Mining District, Henan Province, China.
These new results demonstrate good downdip and along strike consistency in relation to existing production veins as well as the potential to expand the current reserves and resources when they are incorporated into the next reserves and resources update for the Ying Mining District. Furthermore, the major vein structures are still open along strike and downdip.
The purpose of the exploration program was to upgrade existing drill-defined resource blocks along mineralized vein structures below the current mining depth, extend known mineralized zones and explore for new zones at or above the current mining depth and along strike of major production veins. The 4,000 metre (“m”) underground drifting program has successfully extended the strike lengths of known mineralized zones between the 850m and the 600m elevations within major production vein LM5. Over 5,000m of diamond drilling in 23 holes was completed in the second half of 2012 and 14 of the 23 holes intersected high-grade mineralization which resulted in the identification of new zones of mineralization in the upper portions of current major production veins.
Highlights of selected mineralized zones exposed in underground tunnels:

 



--  Drift PD900-LM5-750-54NYM&SYM along vein LM5 on the 750m level revealed
    a zone of 147m in length, 0.84m true width, grading 858 grams per tonne
    ("g/t") silver ("Ag"), 2.11% lead ("Pb"), and 0.43% zinc ("Zn");

--  Drift PD900-LM5-700-54NYM&SYM along vein LM5 on the 700m level revealed
    a zone of 135m in length, 0.84m true width, grading 810g/t Ag, 1.87% Pb
    and 0.50% Zn; and

--  Drift PD838-LM5-775-52SYM&NYM along vein LM5 on the 775m level revealed
    a zone of 180m in length, 0.93m true width, grading 490g/t Ag, 1.88% Pb
    and 0.64% Zn.


Highlights of selected intersections of drill holes:

--  Hole ZKL1002 intercepted 1.44m, 1.35m true width of vein LM1 grading
    1,872g/t Ag, 3.56% Pb and 0.41% Zn at the 690m elevation;

--  Hole ZKL51S32 intercepted 1.81m, 0.68m true width of vein LM5 grading
    2,649g/t Ag, 1.88% Pb and 0.63% Zn at the 726m elevation; and

--  Hole ZKL51S02 intercepted 1.32m, 0.50m true width of vein LM5 grading
    1,329g/t Ag, 0.36% Pb and 0.13% Zn at the 719m elevation.

 

 

In 2013, the Company continues to focus on upgrading and expanding resource blocks along major mineralized vein structures LM2, LM3, LM5 and LM6 using existing underground mining infrastructure to access these veins. A comprehensive program including 5,100m of underground tunneling and 24,100m of diamond drilling is underway.

 

Tables 1 and 2 below list the assay results of some selected mineralized zones exposed in tunnels and intercepts in drill holes.

 



Table 1: Selected tunneling results from the LM Mine in 2012
---------------------------------------------------------------------------
                                                           Weighted Average
                                              -----------------------------
                                     Length of
                 Level Mineralized Mineralized      True    Ag     Pb    Zn
Tunnel ID          (m)        Vein    Zone (m) Width (m) (g/t)    (%)   (%)
---------------------------------------------------------------------------
PD838_LM5_852_51
 SYM               852         LM5          90      0.47   295   1.93  0.37
---------------------------------------------------------------------------
PD838_LM5_775_52
 SYM&NYM           775         LM5         180      0.93   490   1.88  0.64
---------------------------------------------------------------------------
PD900_LM5_750_51
 YM&SYM            750         LM5          35      0.52   394   2.67  0.41
---------------------------------------------------------------------------
PD900_LM5_750_51
 (S30)SYM          750         LM5          40      1.17 1,006   2.77  0.49
---------------------------------------------------------------------------
PD900_LM5_750_54
 NYM&SYM           750         LM5         147      0.84   858   2.11  0.43
---------------------------------------------------------------------------
PD900_LM5_700_54
 NYM&SYM           700         LM5         135      0.84   810   1.87  0.50
---------------------------------------------------------------------------
PD900_LM5_650_54
 NYM&SYM           650         LM5          90      0.71   285   1.01  0.31
---------------------------------------------------------------------------
PD900_LM5_650_51
 (S43)SYM          650         LM5          60      0.82   286   2.69  0.24
---------------------------------------------------------------------------
PD838_LM3-
 Branch_790_0NYM   790       LM3_1          32      0.45   266   0.45  0.12
---------------------------------------------------------------------------
PD900-600-LM5-
 50SYM&NYM         600         LM5          40      1.12   475   2.18  0.24
---------------------------------------------------------------------------


Table 2: Selected drilling results from the LM Mine for the second half of
2012

-------------------------------------------------
                    From         To     Elevation
Hole ID              (m)        (m)           (m)
-------------------------------------------------
ZKL6602           223.91     224.31           702
                  358.03     360.13           620
-------------------------------------------------
ZKL1002           239.72     241.16           690
-------------------------------------------------
ZKL53S01            88.9      92.06           783
                  160.11     161.69           731
-------------------------------------------------
ZKL51S32          169.97     171.78           726
-------------------------------------------------
ZKL51S02          170.75     172.07           720
-------------------------------------------------
ZKL54S01           99.58     101.18           808
-------------------------------------------------
ZKL56S31           84.56      85.81           811
                  143.79     146.03           792
-------------------------------------------------

----------------------------------------------------------------------------
              Interval       True        Ag        Pb        Zn  Mineralized
Hole ID            (m)  Width (m)     (g/t)       (%)       (%)         Vein
----------------------------------------------------------------------------
ZKL6602           0.40       0.38       795      1.19      0.28          LM6
                  2.10       1.99        51      2.07      0.18          LM5
----------------------------------------------------------------------------
ZKL1002           1.44       1.35     1,821      3.45      0.41          LM1
----------------------------------------------------------------------------
ZKL53S01          3.16       1.20       401      0.44      0.23          LM6
                  1.58       0.60       550      1.40      0.56          LM5
----------------------------------------------------------------------------
ZKL51S32          1.81       0.68     2,649      1.88      0.62          LM5
----------------------------------------------------------------------------
ZKL51S02          1.32       0.50     1,329      0.36      0.13          LM5
----------------------------------------------------------------------------
ZKL54S01          1.60       1.22       112      0.57      0.14          LM6
----------------------------------------------------------------------------
ZKL56S31          1.25       0.97       470      0.23      0.08          LM6
                  2.34       1.81       146      0.84      0.27          LM5
----------------------------------------------------------------------------

 

 

Quality Control
Drill cores are NQ size. Drill core samples, limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the Company’s core shacks for future reference and checking, and the other half of the core samples are shipped in security sealed bags to the Chengde Huakan 514 Geology and Minerals Testing and Research Institute, an ISO9000 certified analytical lab in Chengde, China, 226 km northeast of Beijing. For analysis the sample is dried and crushed to minus 1mm and then split to a 200-300g 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 AAS, and the other is digested with two-acids for analysis of silver, lead, zinc and copper.
Chip samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5m along strike. Both the mineralized vein and the altered wall rocks are cut with continuous chisel chipping. Sample length ranges from 0.2m to more than 1m, depending on the width of the mineralized vein and the mineralization type.
A routine quality assurance/quality control procedure is adopted at each lab to monitor the analytical quality at the lab. Certified reference materials (CRM), pulp duplicates and blanks are inserted into each lab batch of samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.
The Company maintains its own comprehensive quality assurance and quality control program to ensure best practice in sample preparation and analysis of the drill core samples. Project geologists regularly insert CRM, field duplicates and blanks to each batch of 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 about 3% 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.
Rujin Jiang, P. Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.
About Silvercorp

 

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company’s vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically.

Posted June 7, 2013

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