Mr. Guoliang Ma reports
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. has drilled 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 continuing at the LMW mine and all other mines at the Ying mining district.
The drilling program from Oct. 1, 2020, to May 1, 2021, at the LMW mine has been focused on infill drilling target areas of known silver-lead-zinc veins that were believed to be uneconomic based on limited prior drilling and tunnelling. Currently, 10 rigs are drilling at the LMW mine, and a total of 116 diamond drill holes, including 100 underground holes and 16 surface holes, totalling 22,890 metres 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 infill drill holes, together with crosscut tunnels and previously intercepted drill holes, have defined a block of vein LM7 showing wide intercepts traced along a strike length of 320 m near the development tunnels at the 600 m level. Currently, three rigs are drilling this discovery:
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Hole ZKX0575 intersected a 20.75-metre interval (19.67 m true width) of vein LM7 grading 261 grams per tonne silver, 1.08 per cent lead, 0.04 per cent zinc, 0.16 g/t gold and 0.78 per cent copper, which includes an 8.43 m interval (8.0 m true width) grading 532 g/t Ag, 2.20 per cent Pb, 0.07 per cent Zn, 0.31 g/t Au and 1.62 per cent Cu.
- Hole ZKX0530 intersected a 25.58 m interval (23.96 m true width) of vein LM7 grading 202 g/t Ag, 1.26 per cent Pb, 0.12 per cent Zn, 0.15 g/t Au and 0.37 per cent Cu, including 3.98 m interval (3.73 m true width) grading 818 g/t Ag, 2.9 per cent Pb, 0.05 per cent Zn, 0.23 g/t Au and 0.46 per cent Cu.
- Hole ZKX0751 intersected a 20.03 m interval (19.32 m true width) of vein LM7 grading 162 g/t Ag, 1.38 per cent Pb, 0.11 per cent Zn, 0.09 g/t Au and 1.00 per cent Cu.
- Hole ZKX0732 intersected a 16.93 m interval (16.16 m true width) of vein LM7 grading 112 g/t Ag, 2.00 per cent Pb, 0.13 per cent Zn, 0.09 g/t Au and 0.79 per cent 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 per cent Pb, 0.10 per cent Zn, 0.05 g/t Au and 0.65 per cent Cu, which includes a 0.79 m interval (0.77 m true width) grading 2,078 g/t Ag, 0.41 per cent Pb, 0.11 per cent Zn, 0.09 g/t Au and 1.22 per cent Cu.
-
Hole
ZKX0728 intersected a 1.17 m interval of vein W1 grading 1,072 g/t Ag, 1.52 per cent Pb, 0.09 per cent Zn, 0.15 g/t Au and 0.08 per cent Cu.
Continuing drilling of subhorizontal gold zone at vein LM50
As listed in the associated table, 10 drill holes intercepted the subhorizontal 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.
Infill drilling of other veins:
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Hole ZKX0383 intersected a 2.59 m interval (1.95 m true width) of vein LM13 grading 1,166 g/t Ag, 0.04 per cent Pb, 0.06 per cent Zn, 0.74 g/t Au and 0.65 per cent Cu, which includes a 1.37 m interval (1.03 m true width) grading 2,179 g/t Ag, 0.07 per cent Pb, 0.10 per cent Zn, 0.05 g/t Au and 0.90 per cent 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 per cent Pb, 0.08 per cent Zn, 0.07 g/t Au and 0.80 g/t Cu.
- Hole ZKX3811 intersected a 5.16 m interval (4.97 m true width) of vein LM17 grading 388 g/t Ag, 1.95 per cent Pb, 0.09 per cent Zn, 0.04 g/t Au and 0.08 per cent Cu, which includes a 1.80 m interval (0.99 m true width) of 833 g/t Ag, 3.11 per cent Pb, 0.10 per cent Zn, 0.06 g/t Au and 0.19 per cent Cu.
Tunnelling results
In addition, a total of 3,352 metres 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 they are summarized in the associated table.
Total mineralization exposed by drifts (1)
Channel Average
Total samples Drift true
Major target veins tunnelling collected included Length width Ag Pb Zn Au Cu
(m) (m) (m) (m) (g/t) (%) (%) (g/t) (%)
LM12-1, LM14, LM16, LM17,
LM17W, LM19W2, LM41E,
LM41E1, LM41Ea, LM50,
LM7, W1, W6, W6E1,
6E2, W6W and W18 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 equals Ag g/t plus 35.06 times
(Pb per cent plus Cu per cent) plus 79.57 times Au g/t).
Highlights of selected mineralized zones exposed in the drift tunnels:
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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 per cent Pb, 0.87 per cent Zn, 0.02 g/t Au and 0.22 per cent 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 per cent Pb, 0.40 per cent Zn, 0.26 g/t Au and 0.47 per cent Cu within vein LM17.
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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 per cent Pb, 0.62 per cent Zn, 0.02 g/t Au and 0.45 per cent Cu within vein W1.
SELECTED RESULTS FROM THE 2021 DRILL PROGRAMS AT THE LMW MINE
Hole ID From To Interval True width Ag Pb Zn Au Cu
(m) (m) (m) (m) (g/t) (%) (%) (g/t) (%)
ZKX0009 132.51 133.14 0.63 0.50 14 0.84 0.29 12.38 0.01
ZKX0022 26.64 27.58 0.94 0.92 208 0.68 0.07 0.01 0.02
ZKX0024 5.38 6.39 1.01 0.69 1,623 0.20 0.08 0.01 0.04
ZKX0217 297.50 298.51 1.01 0.67 195 0.10 0.16 0.04 0.02
ZKX0305-1 48.80 49.57 0.77 0.35 2,290 0.31 0.05 0.01 0.02
ZKX0305-1 93.98 95.13 1.15 0.51 10 0.18 0.06 2.27 0.02
ZKX0305-1 225.07 231.51 6.44 2.67 386 1.82 0.08 0.07 0.80
ZKX0305-1 250.08 251.91 1.83 0.76 467 0.40 0.05 0.01 0.15
ZKX0333 48.04 49.10 1.06 1.06 232 2.36 0.04 0.05 0.15
ZKX0355 115.70 116.43 0.73 0.73 19 5.87 0.31 0.04 0.00
ZKX0383 72.84 75.43 2.59 1.95 1,166 0.04 0.06 0.74 0.65
including 72.84 74.21 1.37 1.03 2,179 0.07 0.10 0.05 0.90
ZKX0413 287.53 288.34 0.81 0.50 286 1.79 0.14 0.02 0.09
ZKX0413 501.84 502.89 1.05 0.64 698 11.69 0.40 0.29 0.15
ZKX0423 221.18 222.51 1.33 0.96 222 1.96 0.67 0.03 0.08
ZKX0423 227.07 228.29 2.25 1.62 2 0.03 0.02 10.53 0.02
ZKX0428 30.32 32.12 1.80 1.57 240 0.31 0.28 0.05 0.03
ZKX0428 147.62 149.07 1.45 1.38 238 2.21 0.19 0.05 0.14
ZKX0429 79.38 79.96 0.58 0.26 219 1.12 2.07 0.01 0.09
ZKX0429 151.35 152.86 1.51 1.50 1,103 1.46 0.10 0.05 0.65
including 151.35 152.14 0.79 0.77 2,078 0.41 0.11 0.09 1.22
ZKX0530 118.63 144.21 25.58 23.96 202 1.26 0.12 0.15 0.37
including 140.23 144.21 3.98 3.73 818 2.90 0.05 0.23 0.46
ZKX0564 159.74 163.56 3.82 2.21 3 0.08 0.02 2.60 0.01
ZKX0564 180.21 181.89 1.68 0.98 2 0.01 0.01 1.86 0.01
ZKX0566 167.48 169.11 1.63 0.72 5 0.11 0.02 1.63 0.00
ZKX0567 157.48 158.34 0.86 0.69 10 0.41 0.31 1.30 0.01
ZKX0575 79.38 100.13 20.75 19.67 261 1.08 0.04 0.16 0.78
including 80.54 88.97 8.43 8.00 532 2.20 0.07 0.31 1.62
ZKX0719 18.94 19.60 0.66 (1) 1,121 7.24 0.35 0.21 0.11
ZKX0728 128.99 130.57 1.58 (1) 95 0.25 0.07 6.02 0.29
ZKX0728 188.33 189.50 1.17 (1) 1,072 1.52 0.09 0.15 0.08
ZKX0732 122.10 139.03 16.93 16.16 112 2.00 0.13 0.09 0.79
ZKX0751 73.73 74.23 0.50 0.45 212 0.87 0.76 0.11 0.14
ZKX0751 82.29 102.32 20.03 19.32 162 1.38 0.11 0.09 1.00
ZKX0811 186.63 187.26 0.63 0.53 12 0.11 0.15 1.75 0.01
ZKX0945 80.54 81.56 1.02 0.93 418 0.48 0.18 0.05 0.04
ZKX0945 277.30 278.25 0.95 0.86 214 0.55 0.15 0.15 0.39
ZKX0957 137.43 138.67 1.24 0.95 338 0.86 0.17 1.29 0.03
ZKX0959 67.91 68.34 0.43 0.21 5,680 1.07 0.52 0.04 5.91
ZKX0959 130.27 132.20 1.93 0.92 223 0.13 0.02 0.01 0.08
ZKX0959 156.85 159.70 2.85 1.36 129 0.78 0.20 0.77 0.09
ZKX10813 106.36 107.60 1.24 1.20 358 3.40 0.72 0.33 0.02
ZKX10813 144.84 145.38 0.54 0.52 52 5.68 0.50 0.03 0.05
ZKX10825 138.34 139.46 1.12 1.08 13 0.02 0.01 2.42 0.01
ZKX10827 112.51 114.55 2.04 1.87 147 0.75 0.06 0.91 0.04
ZKX1115 24.96 25.58 0.62 0.47 502 0.11 0.28 0.03 0.04
ZKX11210 133.80 134.99 1.19 0.70 6 0.01 0.02 2.32 0.00
ZKX11210 165.56 166.80 1.24 0.73 147 0.01 0.01 0.03 0.02
ZKX11210 337.53 338.50 0.97 0.59 129 0.32 0.15 0.01 0.07
ZKX11210 428.51 429.13 0.62 0.38 100 11.56 1.77 0.09 0.42
ZKX11210 512.78 513.57 0.79 0.48 261 3.72 0.55 0.09 0.08
ZKX11307 173.57 174.36 0.79 0.56 171 0.91 0.04 0.03 0.02
ZKX3811 90.89 93.11 2.22 1.85 512 0.48 0.1 0.01 0.24
ZKX3811 338.84 344.0 5.16 4.97 388 1.95 0.09 0.04 0.08
including 340.77 342.89 1.80 0.99 833 3.11 0.10 0.06 0.19
ZKX4210 247.01 247.76 0.75 0.51 74 8.19 0.18 0.03 0.02
ZKX6403 42.08 42.49 0.41 0.37 29 0.02 0.04 0.01 3.03
ZKX6403 261.10 261.33 0.23 0.22 167 0.62 0.11 18.90 0.28
(1) True width was not determined.
(2) These are new veins with no name assigned.
SELECTED MINERALIZED ZONES EXPOSED BY DRIFT TUNNELLING AT THE LMW MINE
Tunnel ID Vein Ore length True width Ag Pb Zn Au Cu
(m) (m) (g/t) (%) (%) (g/t) (%)
SJ969-LM7-550-9ECM (1) LM7 13.57 72 2.02 0.09 0.04 0.56
XPDS-LM14-575-26SYM LM14 10 0.45 38 1.63 0.73 0.02 0.06
XPDS-LM14-525-115NYM LM14 45 0.66 675 1.33 0.19 0.02 0.62
XPDS-LM16-695-109TJ-SYM LM16 42 0.65 584 2.56 0.34 0.02 0.45
XPDN-LM17-800-9SYM LM17 15 1.38 1,460 11.36 0.87 0.02 0.22
XPDN-LM17-750-7NYM LM17 40 0.72 517 6.50 0.38 0.02 0.10
XPDS-LM17-625-28SYM LM17 10 0.65 194 1.56 0.82 0.02 0.06
XPDS-LM17-575-26SYM LM17 40 1.54 708 4.57 0.40 0.26 0.47
PD1080-LM41E-1080-11SYM LM41E 10 0.49 1,017 0.63 0.21 0.02 0.55
PD990-LM41E-990-9NYM LM41E 15 0.27 96 1.04 0.74 0.02 0.04
PD990-LM41E-990-9SYM LM41E 50 0.37 287 2.87 0.58 0.02 0.05
PD924-LM41E-924-3NYM LM41E 10 0.50 198 1.23 0.26 0.02 0.07
PD918-W1-918-4SYM W1 15 0.85 1,561 4.31 0.62 0.02 0.45
PD918-W1-880-8NYM W1 45 0.81 280 2.61 0.18 0.02 0.08
PD918-W18-880-140SYM W18 30 0.44 35 3.03 0.05 0.02 0.01
PD918-W18-880-140NYM W18 65 0.46 108 6.22 0.33 0.02 0.01
PD918-W6-880-128NYM W6 45 0.62 121 5.11 0.59 0.02 0.02
PD918-W6E1-880-138NYM W6E1 20 0.59 236 2.75 0.25 0.02 0.02
PD918-W6E1-880-138SYM W6E1 15 0.51 181 4.82 1.04 0.02 0.05
PD924-W6E1-834-132SYM W6E1 10 0.43 270 5.37 1.75 0.02 0.06
(1) This is a crosscut.
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 kilometres 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 ISO (International Organization for Standardization) 9000-certified analytical labs. For analysis, the sample is dried and crushed to minus one millimetre and then split to a 200 to 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 (atomic absorption spectroscopy).
Channel samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically five 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 one mm is made and kept in the laboratory archives. Gold is analyzed 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 (QA/QC) procedure is adopted to monitor the analytical quality at each lab. Certified reference materials (CRMs), 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 (certified reference materials), 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 to 5 per cent of the pulp samples to higher-level labs to check for lab bias. Data from both the company's and the labs' quality assurance/quality control programs are reviewed on a timely basis by project geologists.
Guoliang Ma, PGeo, manager of exploration and resource of the company, is the qualified person for Silvercorp under National Instrument 43-101 and has reviewed and given consent to the technical information contained in this news release.
About Silvercorp Metals Inc.
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.
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