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Silvercorp Metals Inc
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Silvercorp drills six m of 258 g/t Ag at GC mine

2021-08-12 17:32 ET - News Release

Mr. Guoliang Ma reports

SILVERCORP INTERSECTS VEIN V2E1 WITH 6 METRES TRUE WIDTH GRADING 258 GRAMS PER TONNE SILVER, 7% LEAD AND 7% ZINC AT THE GC MINE, CHINA

Silvercorp Metals Inc. has released results from its exploration programs at the GC silver-lead-zinc mine, Guangdong province, China. Extensive drilling and tunnelling are continuing at the GC mine with seven rigs currently drilling.

From Oct. 1, 2019, to June 30, 2021, 72,878 metres from a total of 704 underground diamond drill holes were completed at the GC mine, including 27,527 m from 268 holes completed in the first six months of 2021. Assay results for all the holes have been received, with 577 holes intercepting mineralization.

The diamond drilling program at the GC mine targeted: (1) blocks of known silver-lead-zinc veins in and above the production area; and (2) exploration drilling at higher elevations in the north and south sides of the resource areas.

Drilling intersected thick and high-grade veins in and above the production areas

Detailed drilling of blocks of known silver-lead-zinc veins in and above the GC mine production areas intersected high-grade veins. These mineralized occurrences were previously missed due to limited drilling and tunnelling, changes in the strikes and dips, and/or pinch swelling of the pay zones in the veins.

The high-grade intercepts from this period are associated with parallel silver-lead-zinc veins V2-2, V2-3, V2-4, V2-4E, V2-7, V2E, V2E1, V2E6, V2W, V2W-4, V2W-9, V5-7, V5-9, V7, V7-1, V7-1E, V7-3, V9-4, V9-5, V9W-2N, V9W-5, V10, V10-1, V10-20, NV10, V19, V19-8, V25, V25-1 and V25-4. Other veins include V11, V16 and NV28. There are 24 new vein structures discovered in and above the production areas, including V2E4, V2E-4E, V2E-8, V7-2, V7-5, V7S, V8-2, V8-5, V10-10, V10-11, C10-17, V10-1S, V10W, V18-2, V18-3, V18-4, V19-2, V19-7 and V19-8. The company is currently working on a technical report on the GC mine to update the resources and reserves as of Dec. 31, 2020. It is expected that mineralization in these structures can be converted quickly into reserves and mined with existing underground workings.

Highlights of high-grade intercepts at the GC mine production area:

  • Hole 20CK24A02 intersected a 6.13-metre interval (6.01-metre true width) of vein V2E1 grading 258 grams per tonne silver, 7.05 per cent lead and 7.05 per cent zinc at the minus-211-metre elevation, which includes a 1.10-metre interval (1.08-metre true width) grading 462 g/t Ag, 25.57 per cent Pb and 5.21 per cent Zn at the minus-211-metre elevation.
  • Hole 20CK2609 intersected a 7.60-metre interval (7.32-metre true width) of vein V2E1 grading 284 g/t Ag, 5.80 per cent Pb and 4.48 per cent Zn at the minus-229-metre elevation, which includes a 1.18-metre interval (1.14 m true width) grading 788 g/t Ag, 23.33 per cent Pb and 7.54 per cent Zn at the minus-229-metre elevation.
  • Hole 20CK3025 intersected a 2.93-metre interval (2.79-metre true width) of vein NV28 grading 417 g/t Ag, 19.22 per cent Pb and 1.72 per cent Zn at the minus-11-metre elevation, which includes a 1.48-metre interval (1.34-metre true width) grading 815 g/t Ag, 37.47 per cent Pb and 2.12 per cent Zn at the minus-11-metre elevation.
  • Hole 19CK11308 intersected a 2.11-metre interval (1.88-metre true width) of vein V9W-5 grading 454 g/t Ag, 11.00 per cent Pb and 2.76 per cent Zn at the 150-metre elevation, which includes a 0.84-metre interval (0.65-metre true width) grading 1,066 g/t Ag, 25.31 per cent Pb and 4.85 per cent Zn at the 150-metre elevation.
  • Hole 19CK10707 intersected a 2.59-metre interval (2.07-metre true width) of vein V10-1 grading 345 g/t Ag, 1.36 per cent Pb and 14.87 per cent Zn at the 156-metre elevation, which includes a 1.59-metre interval (1.27-metre true width) grading 550 g/t Ag, 2.14 per cent Pb and 23.45 per cent Zn at the 156-metre elevation.
  • Hole 20CK4608 intersected a 1.75-metre interval (1.21-metre true width) of vein V33 grading 308 g/t Ag, 2.08 per cent Pb and 16.28 per cent Zn at the minus-four-metre elevation.
  • Hole 20CK11805 intersected a 0.74-metre interval (0.74-metre true width) of newly discovered vein V18-3 grading 557 g/t Ag, 1.21 per cent Pb and 14.82 per cent Zn at the minus-11-metre elevation.

Drilling intersected newly discovered high-grade veins at higher elevations to the north and south of the existing resource area

Exploratory underground drilling discovered high-grade silver-lead-zinc veins V33-1, V33-2, V35, V52-2, V52-3 and V59 in the south and veins NV2, NV3 and NV6 in the north of the existing resource area at the GC mine. These discoveries confirm the potential to expand the resource area outward and extend the mine life at the GC mine.

  • Hole 21CK4235 intersected a 2.71-metre interval (2.19-metre true width) of newly discovered vein V52-2 grading 264 g/t Ag, 0.25 per cent Pb and 17.02 per cent Zn at the minus-three-metre elevation.
  • Hole 21CK4820 intersected a 2.16-metre interval (1.30-metre true width) of newly discovered vein V35 grading 539 g/t Ag, 8.06 per cent Pb and 3.23 per cent Zn at the 140-metre elevation.
  • Hole 20CK46A01 intersected a 0.87-metre interval (0.46-metre true width) of newly discovered vein V33-2 grading 994 g/t Ag, 5.18 per cent Pb and 5.52 per cent Zn at the 149-metre elevation.
  • Hole 21CK42A35 intersected a 0.94-metre interval (0.72-metre true width) of newly discovered vein V52-2, grading 78 g/t Ag, 0.08 per cent Pb and 25.07 per cent Zn at the minus-one-metre elevation.

                SELECTED INTERCEPTS FROM THE 2019-2021 EXPLORATION PROGRAMS AT THE GC MINE
  
Hole ID          From         To      Elevation     Interval      True width        Ag        Pb        Zn
                   (m)        (m)            (m)          (m)             (m)     (g/t)       (%)       (%)

19CK10706        0.19       1.00            157         0.81            0.65       186      0.62      9.70
19CK10707        0.00       2.59            156         2.59            2.07       345      1.36     14.87
incl.            1.00       2.59            156         1.59            1.27       550      2.14     23.45
19CK10907        0.00       0.62            157         0.62            0.50       310      0.06     12.06
19CK11308       54.45      56.56            150         2.11            1.88       454     11.00      2.76
incl.           55.13      55.97            150         0.84            0.65     1,066     25.31      4.85
19CK8802        92.28      92.70             31         0.42            0.34       103      6.59     21.43
20CK10202       18.96      19.58             93         0.62            0.58       260      4.17      6.18
20CK10215       40.05      40.70             78         0.65            0.47       750     20.94      4.35
20CK10920       51.30      52.00           -170         0.70            0.69        40      3.88      9.98
20CK11115       39.02      40.16            134         1.14            1.01       242      1.40      9.47
20CK11207       41.11      42.60            -53         1.49            0.49       228      1.47      9.56
20CK11311       34.97      35.50            153         0.53            0.62       172      0.04     13.52
20CK11315       49.99      50.79             44         0.80            0.76       854      0.34      0.43
20CK11315       69.98      77.50             41         7.52            4.20       364      2.17      4.59
20CK11406       38.27      38.66             90         0.39            0.39       781      0.47      8.66
20CK11503      102.21     103.18             91         0.97            0.97       516      3.22      0.27
20CK11505       23.39      24.37             98         0.98            0.98       359      1.72     10.72
20CK11603      105.56     110.40            -53         4.84            2.78       115      0.89     11.67
incl.          107.60     108.91            -53         1.31            0.75       233      0.13     28.71
20CK11620       12.14      12.65             43         0.51            0.45     1,587      0.93      1.74
20CK11704      111.21     111.75             24         0.54            0.44       499      3.64      6.34
20CK11716      112.02     112.52           -158         0.50            0.50       144      5.10      7.31
20CK11716      134.84     137.91           -171         3.07            2.41        72      3.22      6.58
20CK11805      104.30     105.04            -11         0.74            0.74       557      1.21     14.82
20CK11808      104.05     104.61             24         0.56            0.38       533      2.98      7.51
20CK11810       50.52      51.41              3         0.89            0.66       134      3.20     11.59
20CK2407        36.34      37.06             41         0.72            0.49       423     17.20      6.79
20CK24A02       53.41      59.54           -211         6.13            6.01       258      7.05      7.05
incl.           53.79      54.89           -211         1.10            1.08       462     25.57      5.21
20CK24A03       51.03      57.44           -231         6.41            6.14       139      1.99      3.98
20CK24A15       44.06      45.39             39         1.33            1.00       177      0.85      9.16
20CK24A16       45.55      46.92             25         1.37            1.06       258      0.31     12.80
20CK2608        55.31      61.79           -211         6.48            6.05       134      3.81      4.02
20CK2609        54.30      61.90           -229         7.60            7.32       284      5.80      4.48
incl.           57.73      58.91           -229         1.18            1.14       788     23.33      7.54
20CK2624         6.91      13.12           -251         6.21            3.53       157      3.51      4.80
20CK2625        28.24      33.13           -267         4.89            2.53       159      2.04      6.35
20CK2818        76.71      77.78           -214         1.07            0.91       159      9.34      5.22
20CK3025        38.96      41.89            -11         2.93            2.79       417     19.22      1.72
incl.           38.96      40.44            -11         1.48            1.34       815     37.47      2.12
20CK3027        39.64      41.02            -32         1.38            1.19       500     19.31      7.88
20CK30A16       29.39      30.46           -129         1.07            0.59        63      0.51     16.09
20CK34A07       50.96      52.52            -55         1.56            1.02       182      5.12      7.05
20CK34A11      143.21     147.54           -225         4.33            3.97       148      3.52      6.51
20CK34A15       70.96      72.17           -211         1.21            1.19       183      4.15      7.00
20CK3616        94.06      95.40            -23         1.34            1.30       144      6.30      8.56
20CK3619        70.53      75.45           -234         4.92            4.17       147      1.24      4.45
20CK3620         0.00       5.01              3         5.01            2.62       339      1.34      2.41
20CK3819       108.75     113.74           -183         4.99            3.03       180      0.82      3.84
20CK4012        19.60      22.50             -2         2.90            2.77       222      2.51      2.15
20CK40A10       16.92      18.45            -42         1.53            0.78       451      4.20      1.18
20CK40A12       86.11      86.65             45         0.54            0.53       402      7.07      2.86
20CK4608        49.62      51.37             -4         1.75            1.21       308      2.08     16.28
20CK46A01       57.56      58.43            149         0.87            0.46       994      5.18      5.52
20CK46A01       72.76      73.50            146         0.74            0.56       447      2.04      5.28
20CK4802       135.29     135.76             39         0.47            0.46       115      0.54     18.05
20CK601         41.85      42.45             38         0.60            0.60     1,428      0.70      0.45
20CK9601        80.80      81.30           -107         0.50            0.48       187     17.60      4.76
21CK10536       34.79      35.98             90         1.19            0.72       188      3.67      7.50
21CK11103       86.88      89.20            145         2.32            1.95       172      2.15      7.89
21CK11131       69.02      74.54           -184         5.52            5.05        94      3.96      3.54
21CK11305       83.99      86.46           -181         2.47            1.92       206      4.88     11.86
21CK11616       78.87      82.33           -164         3.46            2.76       134      3.84      2.62
21CK1608        20.80      21.36             46         0.56            0.48       779      1.10      0.66
21CK16A09      152.52     154.27            108         1.75            1.66       742      1.90      1.63
21CK16A16        4.16       5.38            101         1.22            1.20       633      0.97      1.62
21CK16A16       10.80      11.43             99         0.63            0.63       634     10.32     11.68
21CK1810        22.46      25.70             40         3.24            2.63       388      1.29      3.71
21CK18A09       50.36      51.93            120         1.57            1.21       948      1.51      0.88
21CK2207        66.60      73.36           -278         6.76            5.73       130      4.65      3.93
21CK2207        85.22      88.70           -268         3.48            2.90       100      5.08      4.80
21CK2208        66.60      68.09           -278         1.49            1.26       384     13.05      7.47
21CK2241        23.82      25.20            -24         1.38            1.21       348      6.59      4.87
21CK2242         4.44       6.63             -4         2.19            0.49       255      7.82      6.02
21CK2460        32.38      33.04             34         0.66            0.56       160      0.15     13.10
21CK2461        39.36      40.03             34         0.67            0.59       463      0.45     15.24
21CK24A09       19.74      23.30           -255         3.56            2.78       258      3.07      6.63
21CK2638        17.00      24.11           -253         7.11            5.82       139      1.89      5.06
21CK2638       133.04     144.31           -274        11.27           11.13        86      2.35      4.58
21CK2641        91.61      96.86            -14         5.25            5.02       152      0.19      6.51
21CK26A23       52.67      59.00           -276         6.33            6.16       121      3.68      5.66
21CK26A24       19.72      25.63           -270         5.91            5.10       116      2.14      4.09
21CK26A42       80.70      82.33            -12         1.63            1.55       152      4.92     10.12
21CK26A50       31.01      31.38             73         0.37            0.31       356      0.00     28.12
21CK26A50       36.93      37.44             68         0.51            0.51       244      0.04     11.81
21CK26A53       24.77      26.60             77         1.83            1.65       127      0.02     11.99
21CK26A54       44.25      45.09             57         0.84            0.57       225      0.08     13.75
21CK2821        25.73      35.87           -272        10.14            9.30       203      2.93      4.81
21CK2821       127.72     130.67           -339         2.95            2.58       202      0.28      9.97
21CK2822        23.74      38.47           -275        14.73           12.89       127      2.06      4.03
21CK2823        17.78      22.91           -271         5.13            4.39       176      2.78      3.80
21CK2824        26.38      41.65           -266        15.27           13.49       104      2.06      4.28
21CK3212        21.03      21.55             97         0.52            0.51       166      5.63      6.37
21CK32A10      113.17     114.04           -140         0.87            0.76        81      6.30      5.25
21CK32A32      138.29     139.47           -145         1.18            0.85       244      0.28     25.52
21CK32A42       85.50      86.10           -131         0.60            0.57       114      0.04     17.16
21CK3422       106.60     107.21             79         0.61            0.59       210      0.07     18.06
21CK34A12       30.42      31.01             34         0.59            0.59       316      1.27     13.00
21CK4235        64.69      67.40             -3         2.71            2.19       264      0.25     17.02
21CK42A35       47.15      48.09             -1         0.94            0.72        78      0.08     25.07
21CK4820        47.55      49.71            140         2.16            1.30       539      8.06      3.23
21CK5005        55.30      55.70             45         0.40            0.40     1,344      0.54      0.46

Tunnelling programs at the GC mine

In addition to the drilling program, 16,070 m of exploration drift tunnelling was developed at the GC mine during this period. The exploration tunnelling, composed of drifting, crosscutting and raising, was driven along and across major mineralized vein structures to upgrade the drill-defined mineral resources and test for new parallel and splay structures.

Highlights of selected mineralized zones exposed in the drift tunnels:

  • Drift tunnel V5-9-(-50)-30NEYM exposed mineralization 60 m long and 1.09 m wide (true width) grading 357 g/t Ag, 4.72 per cent Pb and 10.08 per cent Zn within vein V5-9 at the minus-50-metre elevation.
  • Drift tunnel V19-(-75)-42WYM exposed mineralization 28 m long and 0.91 m wide (true width) grading 234 g/t Ag, 13.56 per cent Pb and 6.42 per cent Zn within vein V19 at the minus-100-metre elevation.
  • Drift tunnel V19-(-50)-48ANEYM exposed mineralization 65 m long and 1.20 m wide (true width) grading 161 g/t Ag, 2.28 per cent Pb and 12.18 per cent Zn within vein V19 at the minus-50-metre elevation.
  • Drift tunnel V52-150-119NEYM exposed mineralization 50 m long and 0.86 m wide (true width) grading 454 g/t Ag, 3.88 per cent Pb and 7.39 per cent Zn within vein V52 at the 150-metre elevation.
  • Drift tunnel V10-1-150-38ANEYM exposed mineralization 135 m long and 0.60 m wide (true width) grading 288 g/t Ag, 0.77 per cent Pb and 12.61 per cent Zn within vein V10-1 at the 150-metre elevation.

                   SELECTED MINERALIZED ZONES EXPOSED BY DRIFT TUNNELLING AT THE GC MINE
  
Tunnel ID                      Vein     Elevation      Ore length      True width       Ag       Pb       Zn
                                               (m)             (m)             (m)    (g/t)      (%)      (%)

V1-(-150)-32ASYM                 V1          -150            67.0            0.54       53     3.90     3.95
V1-2-(-150)-20WYM              V1-2          -150            10.0            0.47      272     7.83     3.50
V2-1-(-250)-26AEYM             V2-1          -250            25.0            0.74      117     3.15     3.21
V2-2-(-200)-30EYM              V2-2          -200            31.0            0.83      104     0.49     2.85
V2E-(-250)-26ASEYM              V2E          -250            88.0            1.22       50     0.76     3.69
V2E1-(-250)-24AEYM             V2E1          -250            33.0            1.86       81     0.76     2.90
V2E1-(-300)-26AEYM             V2E1          -300            11.0            2.24      109     1.50     5.98
V2E-4E-(-50)-44ANEYM         V2E-4E           -50            48.0            0.46      104     2.36     6.95
V2E-4E-(-100)-46AWYM         V2E-4E          -100            39.0            0.60       79     1.87     6.68
V2E-4E-(-100)-46AEYM         V2E-4E          -100            15.0            0.55       40     0.53     6.71
V2W-(-200)-22SWYM               V2W          -200            91.0            1.78      102     2.84     4.61
V2W-(-200)-22NEYM               V2W          -200            94.0            2.07       90     2.47     4.11
V2W_YM                          V2W          -200            28.0            1.10       98     2.83     3.55
V2W-(-250)-24NEYM               V2W          -250            54.0            2.48      137     2.58     3.55
V2W-(-250)-24SWYM               V2W          -250            28.0            1.75       62     1.84     3.26
V2W-4-(-200)-22AWYM           V2W-4          -200            16.0            0.90      247     7.88     5.80
V2W-9-(-200)-22WYM            V2W-9          -200            31.0            0.76      114     3.41     4.04
V5-50-30AEYM                     V5            50            25.0            0.89      274     0.17    10.13
V5-9-(-50)-30NEYM              V5-9           -50            60.0            1.09      357     4.72    10.08
V5-9-(-200)-36NYM              V5-9          -200            50.0            1.18      107     2.02     3.72
V6E3-0-32EYM                   V6E3             0            50.0            0.42      142    12.08    10.16
V6M-2-(-150)-18SEYM           V6M-3          -150            80.0            0.61       65     3.59     3.19
V7-3-100-30WYM                 V7-3           100            27.0            0.30      102     0.03    14.94
V9-5-100-28AEYM                V9-5           100            50.0            0.37      186     0.35    11.68
V9-5-(-100)-32WYM              V9-5          -100            15.0            1.15       83     2.37     3.07
V9-5-(-250)-24EYM              V9-5          -250            87.0            0.87       68     2.06     3.12
SV10-(-150)-42NEYM             SV10          -150            19.0            1.53      109     2.04     3.91
SV10-(-150)-42SWYM             SV10          -150            22.0            1.53      109     2.04     3.91
V10-(-100)-46EYM                V10          -100           178.0            0.95       60     2.12     3.44
V10-(-150)-40NEYM               V10          -150            40.0            1.28       98     2.92     3.43
V10-(-150)-44NEYM               V10          -150           196.0            1.25       71     1.79     4.19
V10-(-150)-40SWYM               V10          -150            46.0            1.50       28     0.53     4.69
V10-(-130)-107SWYM              V10          -150            10.0            0.71       44     1.42     3.15
V10-(-150)-44SWYM               V10          -150            34.0            1.39       39     1.47     2.73
V10-1-135-40SWYM              V10-1           150            37.0            0.71      203     0.86    15.03
V10-1-150-38ANEYM             V10-1           150           135.0            0.60      288     0.77    12.61
V10-1-(-50)-40SWYM            V10-1           -50            20.0            0.78      143     0.37     3.77
V10-1-(-100)-42ASWYM          V10-1          -100            43.0            1.15      199     0.74     3.53
V10-1-(-150)-44SWYM           V10-1          -150            25.0            0.84      116     0.74     5.16
V10W-(-150)-40WYM              V10W          -150            15.0            1.54      198     2.05     3.62
V14-50-46SWYM                   V13            50           131.0            0.71       92     0.79     9.35
V14-(-50)-116SWYM               V13           -50            20.0            0.95      148     1.16    13.57
V14-(-100)-50NEYM               V14          -100            67.0            0.90       55     2.20     2.08
V16-150-30AEYM                  V16           150             9.0            0.69      808     1.84     1.99
V16-135-32EYM                   V16           150            53.0            0.66      456     1.48     4.50
V16-135-32WYM                   V16           150           131.0            0.39      358     1.43     4.15
V16-150-32EYM                   V16           150            40.0            0.61      105     0.67     5.49
V16-150-34AEYM                  V16           150            35.0            0.53      133     1.50     2.51
V16-110-34EYM                   V16           100            80.0            0.66      136     0.66     6.12
V17-(-100)-34AEYM               V16          -100             6.0            0.52     1260     4.27     2.10
V17-0-34WYM                     V17             0            39.0            0.32      273     0.34    22.88
V17-0-34EYM                     V17             0            69.0            0.36      517     0.71    12.46
V17-(-50)-34EYM                 V17           -50            40.0            0.58      126     0.93     3.80
V17-(-100)-30AEYM               V17          -100            35.0            0.83       57     1.70     2.70
V17-1-0-34WYM                 V17-1             0            19.0            1.75      596     1.37     2.91
V17-1-0-34EYM                 V17-1             0            27.5            0.41      304     0.88     4.67
V17-1-(-45)-34EYM             V17-1           -50            33.0            0.56       84     1.03     4.66
V17-1-(-45)-34WYM             V17-1           -50            25.0            0.58       70     0.25     3.17
V18-150-28AEYM                  V18           150            22.0            0.54      273     0.87     1.98
V8-(-50)-30AEYM                 V18           -50            72.0            1.11      315     2.16     2.90
V18-(-100)-30AEYM               V18          -100            46.0            1.37      163     3.16     8.10
V18-(-100)-30AWYM               V18          -100            11.0            1.29       92     2.28     6.87
V19-(-50)-48ANEYM               V19           -50            65.0            1.20      161     2.28    12.18
V19-(-75)-42WYM                 V19          -100            28.0            0.91      234    13.56     6.42
V19-(-75)-42EYM                 V19          -100            31.0            1.04       70     5.89     4.17
V19-(-100)-46EYM                V19          -100            99.0            0.77      101     0.66     7.64
V19-(-150)-40WYM                V19          -150            14.0            1.64      151     1.34     3.72
V19-(-150)-40EYM                V19          -150            70.0            0.91       81     1.42     3.81
V19-(-150)-44EYM                V19          -150            15.0            0.72       64     2.04     2.92
V19-6-100-40WYM               V19-6           100            22.0            1.21       99     2.20     2.04
V25-(-200)-105NEYM              V25          -200            15.0            1.87       77     0.96     3.30
V32-0-50ANEYM                   V32             0            73.0            0.40      635     4.57     3.54
V32-20-50NEYM                   V32             0            18.0            0.44      132     3.10     6.18
V32-20-50SWYM                   V32             0            38.0            0.44      132     3.10     6.18
V32-0-50ASWYM                   V32             0            10.0            0.59       87     2.25     2.19
V33-0-52SWYM                    V33             0            60.0            0.92      201     5.77     5.15
V33-0-52YM                      V33             0            76.0            0.98      163     3.23     4.19
V37-50-44ANEYM                  V37            50            27.0            0.74       86     6.79     7.70
V40-(-85)-12WYM                 V40          -100             9.0            0.99      257     5.75     6.34
V52-150-38WYM                   V52           150            11.5            0.45      307     0.93    20.84
V52-150-119NEYM                 V52           150            50.0            0.86      454     3.88     7.39
V19-2-150-40ASEYM               V59           150            22.0            0.50      226     4.22     3.65
VH1-0-32NEYM                    VH1             0            16.0            1.06       40     3.50     5.16

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 on-site laboratory (Laboratory of Guangdong Found).

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 one m, depending on the width of the mineralized vein and the mineralization type. Channel samples are shipped in securely sealed bags to the on-site laboratory.

For analysis, the sample is dried and crushed to minus one millimetre and then split to a 200- to 300-gram subsample, which is further pulverized to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One is digested with two acids for analysis of silver, lead, zinc and copper with atomic absorption spectroscopy (AAS), and the other is retained as pulp reject at the lab for future reference.

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 CRMs, 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' QA/QC 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. Silvercorp balances profitability, social and environmental relationships, employees' well-being, and sustainable development.

We seek Safe Harbor.

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