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Silvercorp Metals Inc
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Silvercorp drills 1.87 m of 8,254 g/t Ag at TLP mine

2023-07-17 17:34 ET - News Release

Mr. Lon Shaver reports

SILVERCORP CONTINUES TO INTERSECT HIGH-GRADE SILVER-LEAD ZONES AT THE TLP MINE

Silvercorp Metals Inc. has released high-grade silver-lead intercepts from its continuing diamond drilling program at the TLP mine at the Ying mining district, China.

Highlights (all intersections are in core lengths):

Surface hole ZKTDB0413 intersected 1,025 grams per tonne (g/t) silver (Ag), 3.01 per cent lead (Pb) and 0.11 g/t gold (Au) over a 2.48-metre (m) interval of vein T26 at the 1,113 m elevation;
Surface hole ZKTDB2005 intersected 3,211 g/t Ag, 2.41 per cent Pb, 0.15 per cent zinc (Zn) and 0.16 per cent copper (Cu) over a 0.63 m interval of vein T1E at the 1,129 m elevation;
Surface hole ZKTDB0501 intersected 312 g/t Ag, 3.21 per cent Pb and 0.43 per cent Zn over a 5.04 m interval of vein T2 at the 980 m elevation;
Hole ZKG0847 intersected 8,254 g/t Ag, 11.71 per cent Pb and 1.30 per cent Zn over a 1.87 m interval of vein T16 at the 684 m elevation;
Hole ZKG1447 intersected 7,140 g/t Ag, 30.79 per cent Pb, 0.92 per cent Zn and 1.43 per cent Cu over a 0.57 m interval of vein T15W2 at the 818 m elevation;
Hole ZKG0325 intersected 3,475 g/t Ag, 2.22 per cent Pb, 1.52 per cent Zn and 0.75 g/t Au over a 0.86 m interval of vein T38 at the 752 m elevation;
Hole ZKT4710 intersected 83 g/t Ag, 10.46 per cent Pb, 0.46 per cent Zn, 0.09 g/t Au and 0.75 per cent Cu over a 6.26 m interval of vein T3 at the 638 m elevation;
Hole ZKG1024 intersected 2,743 g/t Ag, 6.95 per cent Pb and 1.67 per cent Zn over a 1.27 m interval of vein T11 at the 630 m elevation;
Hole ZKG1437 intersected 2,204 g/t Ag, 5.13 per cent Pb, 0.43 per cent Zn and 0.51 per cent Cu over a 2.08 m interval of vein T16 at the 749 m elevation;
Hole ZKG1441 intersected 3,437 g/t Ag, 2.09 per cent Pb, 1.55 per cent Zn and 0.22 per cent Cu over a 1.20 m interval of vein T16 at the 727 m elevation;
Hole ZKT0829 intersected 453 g/t Ag, 5.10 per cent Pb and 0.93 per cent Zn over a 4.60 m interval of vein T14E at the 975 m elevation; and
Hole ZKG0009 intersected 542 g/t Ag, 52.01 per cent Pb, 0.20 per cent Zn and 0.16 per cent Cu over a 0.81 m interval of vein T15W at the 637 m elevation.

From Jan. 1, 2022, to June 15, 2023, a total of 66,679 m in 340 diamond drill holes, including 270 underground holes and 70 surface holes, were completed at the TLP mine. Assay results for 227 holes have been received, with 197 holes intersecting mineralization. Currently, there are 10 rigs drilling at the TLP mine.

The drilling program has targeted three areas: (1) silver-lead vein structures in the resource area at higher elevations, close to surface, which have seen limited exploration; (2) infilling in the production area, particularly above or below previously mined stopes, where production stopped due to higher-than-modelled variability in grades, thicknesses and attitudes of the vein structures; and (3) step-out drilling to test the extension of the major vein structures to the northeast of the resource area.

Drilling near-surface Ag-Pb vein structures within the resource area

Drilling over the past few years primarily focused on the lateral and down-dip extent of known vein structures, and paid insufficient attention to their extension potential at elevations above 900 m. In addition to the 70 surface drill holes, which account for over 20 per cent of the drill holes in this program, many underground holes drilled also targeted the vein structures at higher elevations. High-grade Ag-Pb vein structures intersected at higher elevations include the T1 series, T2, T3 series, T11 series, T14E, T15 series, T16 series, T23 series and T26 series (see attached table).

Drilling above or beneath previously mined stopes within the resource area

Most holes drilled during this period targeted blocks of known Ag-Pb vein structures that were previously missed due to limited drilling or tunnelling, and changes in thickness, strikes and dips of the pay zones in veins within the resource areas below the 900 m elevation. The high-grade intercepts are mainly associated with the northwest-dipping T1 series, T2 series, T3 series, T4, T11 series, T15 series, T16 series, T23 series, T20, T21, T31W3, T33 series and T35 series, and the east-dipping T14 series, T22 series, T26 series and T28 series. These intercepts have led to significant expansion and upgrading of resources. Since the ramps and access tunnels are already in place, these defined high-grade blocks can be quickly converted to reserves and mined.

Step-out drilling intersecting Ag-Pb veins to the northeast of the resource area

Step-out surface and underground drilling intersected high-grade Ag-Pb veins T2, T3 series, T4, T5 and T21 series to the northeast of the resource area. Hole ZKT4710 intersected 83 g/t Ag, 10.46 per cent Pb, 0.46 per cent Zn and 0.75 per cent Cu over a 6.26 m interval. These intercepts have extended the boundary of the resource area approximately 300 m to the northeast.


Hole ID      From (m)   To (m)

ZKTDB2005      23.60    24.90 ZKTDB0412      82.92    84.76 ZKTDB0422      74.09    75.86 ZKTDB0413      90.30    92.14 ZKTDB1781     126.97   129.95 ZKT0933       124.02   124.62 ZKT0006        38.46    38.96 ZKTDB2005      54.64    55.27 ZKTDB0422      53.88    55.16 ZKTDB0427      58.17    58.71 ZKTDB0428      71.16    71.66 ZKTDB0603     106.05   107.10 ZKTDB0006     176.90   179.95 ZKT0815        73.01    73.92 ZKT1145        92.26    95.18 ZKTDB0428      13.40    16.59 ZKTDB0422      28.46    30.10 ZKTDB0603      28.83    30.64 ZKTDB0008     109.91   110.44 ZKTDB0006     118.81   119.30 ZKT0826         3.79     4.54 ZKT0613       148.66   149.52 ZKT0404       151.28   153.71 ZKT0907       126.35   126.87 ZKT1315       119.43   120.43 ZKT0941       125.28   128.32 ZKT1314       134.41   135.01 ZKT1315       128.64   129.22 ZKTDB0412      17.86    19.27 ZKTDB0413      17.40    19.20 ZKTDB0411      10.12    13.67 ZKTDB0603      10.39    11.13 ZKTDB0008      66.67    67.18 ZKT0613       151.96   153.87 ZKT0802       183.01   183.53 ZKT0802       183.01   183.53 ZKT1574       147.02   147.64 ZKT1145       150.45   152.60 ZKTDB0404      77.13    78.61 ZKT0224        87.79    88.48 ZKTDB0501     172.99   178.03 ZKTDB3306      60.85    63.13 ZKTDB3307      58.45    60.31 ZKT1145        46.32    49.47 ZKT1144        42.50    43.39 ZKT1354       166.38   168.31 ZKT4708       140.80   141.95 ZKT4715       145.31   145.87 ZKT4522       151.31   152.86 ZKT5104       251.05   251.65 ZKT1129        32.06    32.80 ZKT0006       126.31   126.85 ZKT0224        68.22    70.88 ZKT0106        42.26    44.20 ZKT0107        45.39    45.96 ZKT0106        74.47    76.83 ZKTDB1201      46.72    49.99 ZKTDB2401     143.18   144.13 ZKTDB3305      75.62    77.18 ZKT0006       142.50   143.06 ZKT0201       114.56   117.54 ZKT1129        20.40    22.61 ZKT1145        21.01    22.20 ZKT1144        19.30    22.36 ZKT1127        22.42    23.61 ZKT0214       177.80   178.38 ZKT0215       201.22   205.34 ZKT4708       145.90   146.66 ZKT4521       155.20   158.41 ZKT4712       162.88   168.60 ZKT4710       165.61   171.87 ZKT5912       145.09   145.64 ZKT4716       180.22   181.10 ZKT5910       196.49   197.29 ZKT5104       260.62   261.45 ZKT5504       220.79   221.61 ZKTDB1780     192.54   193.05 ZKT3737         7.16     7.72 ZKT5502       118.56   120.15 ZKT4710       174.72   175.24 ZKT4709       173.87   176.13 ZKT5910       205.53   207.22 ZKT5106       390.24   391.41 ZKG0607       234.64   235.25 ZKT0006       147.31   148.05 ZKT3721         9.26    10.89 ZKTDB3307     127.81   128.65 ZKTDB3305     136.37   137.81 ZKT3737        37.61    38.66 ZKT3718        37.51    38.16 ZKT3719        38.82    41.01 ZKT5106       398.53   399.05 ZKT3737        52.90    54.74 ZKT3721        47.99    50.80 ZKT5505       126.23   127.57 ZKG1221A      136.00   136.53 ZKG1814        11.67    12.18 ZKG1030       129.28   131.45 ZKG0503       147.37   148.58 ZKG0504       137.22   137.73 ZKG0812       230.25   231.19 ZKG1226       125.24   125.77 ZKG1024       128.39   129.66 ZKG1105       206.94   207.90 ZKG1009       145.17   145.76 ZKG0108       279.35   280.02 ZKG0454       200.83   201.89 ZKT0616        69.45    70.16 ZKG0108       342.11   342.74 ZKG0809       227.42   228.35 ZKG0810       227.29   227.93 ZKT0812       131.72   132.31 ZKT0616        82.24    82.74 ZKT0812        29.72    30.31 ZKG1815        34.90    35.45 ZKG1819        87.46    88.02 ZKG0104       152.05   152.67 ZKT0530       108.41   110.59 ZKG0465       115.81   116.44 ZKT0829        35.73    40.33 ZKT0611       110.05   110.85 ZKT0610        92.60    93.10 ZKG0106       200.35   201.89 ZKT0717       130.39   131.53 ZKG1221A       93.13    93.71 ZKT0813        14.69    15.29 ZKT0812        17.59    18.13 ZKG1815        11.36    12.09 ZKG1447        15.23    15.81 ZKG1610       114.81   115.80 ZKG0113       105.51   106.22 ZKT1027       142.72   144.13 ZKT1006         5.03     6.07 ZKG1815        47.76    48.42 ZKG1437        48.75    49.28 ZKG1438        58.28    58.95 ZKG1606       131.63   132.15 ZKG0009        88.28    89.09 ZKG1024       125.56   127.29 ZKG0115        74.92    76.05 ZKG0113        96.89    97.75 ZKG0005       107.91   108.41 ZKT0804        60.41    60.93 ZKT0805        48.50    49.00 ZKG0605       191.30   191.82 ZKG0113        75.05    75.85 ZKG1821        63.03    63.85 ZKG1447        67.99    68.56 ZKG1437        73.12    73.67 ZKG1441        82.74    83.25 ZKG1226        40.17    41.60 ZKG1024        39.63    40.18 ZKG1821       122.47   123.08 ZKT0716        61.96    62.53 ZKG0111        92.43    92.95 ZKG1447       188.43   188.98 ZKT1365       178.41   179.04 ZKG1437       212.50   214.58 ZKG1441       240.19   241.39 ZKG0852        39.02    39.54 ZKG1023        38.65    39.20 ZKG1012        45.94    46.44 ZKG0847        59.22    61.09 ZKG0452        63.17    63.78 ZKG0360       199.06   201.45 ZKG0535       214.82   216.01 ZKT1017        50.71    51.32 ZKG1022        15.13    15.65 ZKG0852        81.75    82.26 ZKG1022        89.20    89.82 ZKG1816       308.92   309.46 ZKG0847        95.45    96.02 ZKG1449       319.14   320.46 ZKG0852        53.88    55.15 ZKG0107       113.70   114.24 ZKT0113        68.27    68.89 ZKG1814       208.28   209.82 ZKG1810       221.15   221.74 ZKG1816       221.45   224.88 ZKG2211       234.94   235.54 ZKG1438       263.73   264.25 ZKG1449       299.01   300.60 ZKG1814       203.27   205.21 ZKG1438       244.49   245.05 ZKG1820        16.59    18.21 ZKG1810       266.29   268.43 ZKG0429        80.78    81.39 ZKG1810       261.84   262.36 ZKT3718        46.48    50.52 ZKTDB0504      23.97    24.70 ZKTDB0404     247.57   248.81 ZKT0523       100.78   103.75 ZKT3738        64.96    65.46 ZKT3737        68.47    69.89 ZKT3738        87.81    88.33 ZKT1142        93.10    93.58 ZKT1129       133.63   134.24 ZKG1810       300.74   302.32 ZKTDB0381     169.22   170.44 ZKTDB0009      22.74    23.35 ZKTDB0006      26.43    28.42 ZKTDB0004      26.34    26.87 ZKT1354        19.67    20.30 ZKT4712        98.27   101.25 ZKT4716       114.15   114.93 ZKT1574       167.09   167.74 ZKT1574       163.88   164.48 ZKTDB0381      60.81    62.77 ZKTDB0381     156.86   157.39 ZKTDB0011      22.96    25.70 ZKTDB0413      27.07    29.55 ZKTDB0413      29.55    34.61 ZKTDB0426      99.53   100.22 ZKTDB0011      27.43    28.04 ZKT0006         2.89     3.42 ZKTDB0011      13.39    14.15 ZKT0613       126.73   127.24 ZKT0802        80.59    81.35 ZKT0802        80.59    81.35 ZKT0404       126.56   127.08 ZKT0613       122.73   123.30 ZKT0221        65.00    65.69 ZKT0616        32.41    32.92 ZKT0812        92.25    92.77 ZKTDB1522     225.44   226.03 ZKT1315        69.52    70.02 ZKT1354         1.27     2.63 ZKT1315        83.69    85.19 ZKT4723        10.50    11.04 ZKT0771       190.81   191.32 ZKT0711       118.10   120.85 ZKT0523       233.46   233.96 ZKT0771       231.20   231.74 ZKTDB0201     161.59   162.22 ZKT2926       113.66   114.19 ZKT2927       121.02   122.93 ZKT2925       106.81   107.35 ZKG0105        70.07    71.92 ZKG0104        82.94    83.57 ZKT0709        52.12    52.62 ZKT0529        46.13    46.95 ZKT0710        51.13    51.67 ZKG0325        96.57    97.43 ZKT2928       209.12   209.70 ZKT2925       173.10   173.72 ZKT2927       167.57   168.07 ZKT2928       171.00   171.51 ZKT2925       150.01   150.61 ZKG1030        94.18    94.82

(1) New vein with no vein ID

SELECTED INTERCEPTS FROM THE DRILLING PROGRAMS AT THE TLP MINE Elevation Interval (m) Ag (g/t) Pb (%) Zn (%) Au (g/t) Cu (%) Vein (m) 1,141 1.30 108 1.18 0.03 0.03 0.07 T1 1,101 1.84 216 1.08 0.07 0.05 0.03 T1 1,101 1.77 268 0.18 0.03 0.02 0.02 T1 1,084 1.84 195 2.94 0.03 0.07 0.01 T1 984 2.98 162 2.01 0.07 0.02 0.03 T1 910 0.60 261 11.44 2.52 T1 888 0.50 190 3.96 0.18 0.07 0.06 T1 1,129 0.63 3,211 2.41 0.15 0.03 0.16 T1E 1,107 1.28 244 0.31 0.08 0.02 0.01 T1W 1,105 0.54 672 0.67 0.07 0.03 0.07 T1W 1,078 0.50 233 0.54 0.04 T1W 1,034 1.05 837 2.64 0.31 0.05 0.05 T1W 912 3.05 274 7.86 0.13 T1W 871 0.91 119 4.58 0.09 0.35 0.01 T1W 831 2.92 49 5.47 0.28 0.05 0.12 T1W 1,117 3.19 134 0.48 0.26 T1W1 1,116 1.64 91 1.42 0.10 0.02 0.02 T1W1 1,100 1.81 177 0.79 0.05 0.05 0.06 T1W1 1,017 0.53 867 1.11 1.73 0.11 0.09 T1W1 958 0.49 60 5.59 0.07 T1W1 897 0.75 204 0.17 0.08 0.02 0.02 T1W1 884 0.86 960 1.11 1.28 T1W1 866 2.43 137 1.18 0.37 0.02 0.02 T1W1 636 0.52 324 3.15 0.49 T1W1 590 1.00 175 4.09 2.25 1.11 0.58 T1W1 590 3.04 138 3.15 1.23 0.16 1.06 T1W1 545 0.60 1,061 4.41 1.44 0.58 0.89 T1W1 585 0.58 141 1.27 1.69 0.49 0.17 T1W1a 1,120 1.41 361 1.55 0.25 0.05 0.09 T1W2 1,117 1.80 162 0.27 0.15 0.07 0.02 T1W2 1,116 3.55 503 1.99 0.28 T1W2 1,116 0.74 206 3.59 0.06 0.05 0.03 T1W2 1,031 0.51 590 4.08 0.19 0.05 0.46 T1W2 883 1.91 531 2.59 1.20 T1W2 828 0.52 166 1.32 0.40 0.11 0.01 T1W2 828 0.52 166 1.32 0.40 0.11 0.01 T1W2 584 0.62 216 0.54 0.66 0.79 0.09 T1W2 824 2.15 599 1.25 1.07 0.16 0.15 T1W2a 1,131 1.48 166 0.71 0.18 0.05 0.01 T2 986 0.69 538 1.60 0.05 0.05 0.04 T2 980 5.04 312 3.21 0.43 0.06 0.06 T2 947 2.28 132 0.35 0.11 T2 946 1.86 208 0.37 0.14 T2 836 3.15 225 3.12 2.08 0.43 0.68 T2 836 0.89 132 4.87 0.23 0.03 0.44 T2 824 1.93 120 0.76 0.02 0.02 0.04 T2 710 1.15 31 5.54 0.04 0.19 0.01 T2 666 0.56 186 2.01 0.09 T2 641 1.55 34 6.12 0.10 0.80 T2 540 0.60 18 3.58 0.19 2.45 0.07 T2 839 0.74 435 0.06 0.04 0.03 0.01 T2E 877 0.54 344 1.48 0.35 0.13 0.04 T2E1 990 2.66 114 1.54 0.03 0.05 0.03 T2W 886 1.94 275 3.45 0.07 T2W 882 0.57 229 0.96 0.02 T2W 882 2.36 114 1.70 0.08 T2W1 1,120 3.27 41 4.92 0.13 T3 1,029 0.95 180 1.11 0.11 0.02 0.04 T3 917 1.56 3 0.01 0.03 2.67 0.01 T3 875 0.56 311 2.35 0.10 0.14 0.32 T3 871 2.98 284 2.71 0.10 0.08 0.01 T3 840 2.21 226 1.95 0.68 0.16 0.09 T3 839 1.19 257 1.32 0.44 0.14 0.19 T3 839 3.06 327 0.25 0.11 0.50 0.06 T3 833 1.19 173 2.02 0.42 0.23 0.27 T3 787 0.58 100 8.93 0.05 T3 786 4.12 100 1.78 0.06 T3 709 0.76 23 7.18 0.07 0.05 0.04 T3 663 3.21 38 9.72 0.04 T3 644 5.72 25 5.08 0.09 T3 638 6.26 83 10.46 0.46 0.09 0.75 T3 635 0.55 333 0.23 0.06 0.01 0.02 T3 630 0.88 60 6.27 0.06 T3 605 0.80 7 0.01 0.01 3.81 0.01 T3 532 0.83 19 7.78 0.55 0.03 0.20 T3 404 0.82 13 5.55 0.61 0.05 0.01 T3 932 0.51 77 4.27 0.16 0.02 0.01 T3E 749 0.56 213 3.38 0.24 0.45 0.65 T3E 652 1.59 193 0.53 0.22 0.05 0.01 T3E 633 0.52 79 35.25 1.14 0.03 0.19 T3E 630 2.26 77 11.35 0.05 0.06 0.49 T3E 599 1.69 334 0.51 0.42 0.30 0.04 T3E 384 1.17 8 5.96 0.05 0.03 T3E 298 0.61 1,012 1.30 2.84 5.15 0.07 T3E 874 0.74 43 7.28 0.18 0.06 0.01 T3E1 746 1.63 208 4.28 1.20 2.60 0.49 T3E1 921 0.84 831 0.90 1.10 T4 877 1.44 703 1.35 0.23 0.21 0.03 T4 741 1.05 131 29.55 0.22 0.21 0.77 T4 734 0.65 66 6.57 0.07 0.23 0.25 T4 724 2.19 44 6.47 0.63 0.19 0.22 T4 377 0.52 51 8.27 0.11 0.90 T4 737 1.84 96 4.10 0.14 0.40 0.23 T5 726 2.81 88 2.55 0.21 0.19 0.12 T5 696 1.34 88 2.85 0.24 0.01 0.01 T5 948 0.53 178 7.35 0.79 0.05 0.03 T11 838 0.51 533 2.38 0.16 0.05 0.08 T11 814 2.17 957 0.52 0.15 T11 733 1.21 682 3.64 0.39 0.05 0.21 T11 716 0.51 748 2.53 0.14 0.20 0.10 T11 712 0.94 911 0.42 0.05 0.01 0.02 T11 683 0.53 56 0.27 0.28 0.02 3.32 T11 630 1.27 2,743 6.95 1.67 T11 626 0.96 48 10.31 0.09 0.05 0.13 T11 578 0.59 752 11.83 5.55 T11 541 0.67 57 8.73 1.39 0.39 0.04 T11 535 1.06 385 8.98 1.48 2.12 0.12 T11 906 0.71 101 2.69 0.13 0.05 0.04 T11E 517 0.63 166 8.89 6.78 1.65 0.01 T11E 627 1.01 216 0.64 0.14 T11E2 619 0.64 260 0.93 0.34 T11E2 907 0.59 781 5.82 0.71 0.05 0.18 T11E4 902 0.50 1,259 2.97 0.47 0.05 0.29 T11E4 919 0.59 754 0.45 0.48 0.05 0.02 T11W 840 0.55 684 0.91 0.25 0.02 0.04 T11W1 794 0.56 24 6.21 0.29 0.01 T12 791 0.62 130 2.12 0.36 0.02 0.01 T14 752 2.18 79 5.28 0.54 0.01 0.04 T14 680 0.63 222 4.42 0.54 0.22 0.08 T14 975 4.60 453 5.10 0.93 0.05 0.07 T14E 918 0.80 322 0.46 0.17 T14E 902 0.50 264 10.60 0.14 0.05 0.01 T14E 824 1.54 134 1.57 0.07 0.03 0.08 T14E 788 1.14 252 1.48 1.18 0.05 0.02 T14E 951 0.58 158 2.06 0.26 0.05 0.01 T15 921 0.60 189 1.87 0.12 0.05 0.01 T15 921 0.54 233 1.42 0.16 0.05 0.05 T15 838 0.73 298 1.09 0.48 0.02 0.05 T15 832 0.58 321 0.56 0.26 0.01 0.25 T15 815 0.99 548 1.28 0.50 T15 617 0.71 310 2.86 0.21 0.24 0.19 T15 944 1.41 40 3.30 0.15 0.05 T15W 919 1.04 573 0.37 0.07 0.05 0.04 T15W 841 0.66 209 0.51 0.20 0.02 0.06 T15W 816 0.53 429 0.10 0.26 0.05 0.10 T15W 808 0.67 784 0.97 1.16 0.06 0.10 T15W 685 0.52 184 6.49 0.20 0.12 0.03 T15W 637 0.81 542 52.01 0.20 0.05 0.16 T15W 632 1.73 279 0.40 0.10 T15W 622 1.13 404 19.59 0.50 T15W 620 0.86 596 10.45 0.53 0.09 0.19 T15W 593 0.50 460 11.98 0.35 T15W 921 0.52 211 0.60 0.20 0.05 0.02 T15W1 921 0.50 382 1.47 0.73 T15W1 632 0.52 2,128 3.43 0.21 0.11 0.12 T15W1 627 0.80 216 1.12 0.24 0.17 0.01 T15W1 826 0.82 373 0.52 0.25 0.05 0.05 T15W2 818 0.57 7,140 30.79 0.92 0.04 1.43 T15W2 806 0.55 1,246 1.09 0.09 0.05 0.16 T15W2 798 0.51 646 13.14 0.10 0.11 0.05 T15W2 694 1.43 162 1.02 0.40 0.02 0.03 T15W2 678 0.55 909 0.76 0.25 T15W2 817 0.61 1,036 0.76 0.25 0.05 0.20 T15W4 794 0.57 672 1.41 1.34 0.05 0.06 T15W4 621 0.52 103 3.05 0.08 T15W4 787 0.55 2,778 2.40 2.56 0.02 0.21 T16 780 0.63 635 4.54 1.04 0.07 0.11 T16 749 2.08 2,204 5.13 0.43 0.05 0.51 T16 727 1.20 3,437 2.09 1.55 0.05 0.22 T16 712 0.52 502 1.71 0.42 T16 710 0.55 465 1.38 1.05 0.06 T16 691 0.50 281 2.37 0.18 0.05 0.01 T16 684 1.87 8,254 11.71 1.30 T16 645 0.61 310 0.62 0.54 0.14 0.01 T16 576 2.39 84 2.91 0.44 0.16 0.02 T16 560 1.19 343 19.10 2.95 1.68 0.08 T16 973 0.61 313 3.17 0.30 0.03 0.02 T16E1 704 0.52 420 0.89 0.36 0.05 T16E1 725 0.51 540 6.43 0.24 T16W 719 0.62 414 5.38 1.45 0.02 T16W 715 0.54 247 3.04 0.74 0.05 0.01 T16W 675 0.57 20 5.25 0.43 T16W 661 1.32 1,350 2.07 2.02 0.05 T16W 716 1.27 537 0.91 0.10 T16W1 597 0.54 245 1.83 1.82 0.59 0.04 T16W1 927 0.62 253 0.07 0.10 0.02 0.02 T16W3 857 1.54 181 2.03 0.82 0.05 0.04 T17 753 0.59 283 14.98 0.24 0.03 0.02 T17 749 3.43 73 1.80 0.26 0.05 0.02 T17 732 0.60 192 5.66 0.39 T17 712 0.52 53 7.18 0.06 0.02 0.01 T17 672 1.59 1,028 3.33 0.33 0.05 T17 857 1.94 419 2.66 0.54 0.05 0.14 T17E 721 0.56 267 1.11 0.17 0.03 0.03 T17E 696 1.62 188 0.72 0.23 0.05 0.05 T17E 735 2.14 463 2.51 0.35 0.02 0.07 T17W 682 0.61 135 4.01 0.36 T17W 737 0.52 716 0.74 0.18 0.02 0.41 T17W2 730 4.04 61 2.88 0.13 0.27 0.27 T20 1,055 0.73 308 1.49 0.06 T21 1,046 1.24 334 2.41 0.40 0.05 0.21 T21 916 2.97 89 15.87 0.22 0.05 0.11 T21 734 0.50 445 7.29 0.84 0.44 0.14 T21 733 1.42 914 0.63 0.64 1.25 0.17 T21 728 0.52 30 8.08 0.07 0.05 0.01 T21E 1,012 0.48 286 14.66 0.32 0.02 0.04 T22 830 0.61 211 0.73 0.37 0.11 0.03 T22 723 1.58 195 0.80 0.06 0.03 0.12 T22E 1,002 1.22 131 1.38 0.27 0.02 0.06 T22W 1,046 0.61 2,587 0.72 0.22 0.05 0.29 T23 1,032 1.99 256 1.20 0.08 T23 1,029 0.53 288 11.11 0.20 T23 808 0.63 178 1.69 0.28 0.03 0.11 T23 681 2.98 92 4.78 0.06 T23 669 0.78 261 0.70 0.14 T23 580 0.65 591 0.81 0.95 0.19 0.15 T23 581 0.60 669 1.28 2.49 0.20 0.24 T23E 1,056 1.96 373 0.22 0.08 0.02 0.02 T23W 1,008 0.53 304 1.64 1.18 0.04 0.06 T23a 1,114 2.74 150 0.50 0.13 T26 1,113 2.48 1,025 3.01 0.07 0.11 0.03 T26 1,112 5.06 255 0.48 0.08 0.05 0.14 T26E 1,068 0.69 193 0.52 0.06 T26E 1,112 0.61 159 1.48 0.06 0.05 0.03 T26E1 892 0.53 229 0.70 0.07 0.09 0.19 T26E1 1,119 0.76 332 2.51 0.06 0.07 0.03 T26W 886 0.51 580 5.87 0.25 T28 866 0.76 21 6.27 0.10 0.05 T28 866 0.76 21 6.27 0.10 0.05 T28 871 0.52 165 1.32 0.31 0.03 0.03 T28E2 886 0.57 141 1.90 0.30 T28a 1,012 0.69 162 1.90 0.03 0.01 0.08 T29 915 0.51 395 1.18 0.07 0.11 0.14 T31W3 912 0.52 130 3.06 0.37 0.05 0.01 T31W3 1,020 0.59 326 4.04 0.14 0.01 0.02 T33 618 0.50 379 1.08 0.17 0.04 0.05 T33E 806 1.36 134 0.53 0.32 0.02 0.01 T33E1 610 1.50 154 1.32 0.51 0.01 0.11 T33E1 740 0.54 401 1.74 0.48 T35 878 0.51 169 8.58 1.52 0.03 0.03 T35E 825 2.75 136 1.99 0.28 0.02 0.02 T35E 907 0.50 566 0.91 0.21 0.05 0.19 T35E1 868 0.54 669 1.54 0.45 0.03 0.10 T35E2 946 0.63 347 1.15 0.18 0.11 0.11 T38 829 0.53 569 6.31 0.17 0.05 0.05 T38 828 1.91 576 0.65 0.58 0.05 0.02 T38 805 0.54 464 3.39 5.48 0.16 0.02 T38 797 1.85 220 5.85 0.19 0.03 0.05 T38 796 0.63 948 3.00 2.24 0.02 0.15 T38 794 0.50 196 0.47 0.49 0.05 0.02 T38 793 0.82 326 5.67 1.26 0.05 0.12 T38 793 0.54 581 6.04 0.66 0.03 0.03 T38 752 0.86 3,475 2.22 1.52 0.75 0.07 T38 820 0.58 445 0.68 0.25 0.05 0.02 T39 784 0.62 199 1.55 0.73 0.03 0.03 T39E2 824 0.50 308 0.26 0.05 0.05 0.02 T39W 824 0.51 373 1.14 0.22 0.05 0.01 T39W 791 0.60 420 0.58 0.28 0.03 0.01 T39W 820 0.64 71 4.23 0.42 NA (1)

Quality control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or shear/alteration contacts, were split into halves by sawing. 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 in Tianjin, China. All three labs are ISO9000 certified analytical labs. For analysis, the sample is dried and crushed to minus one millimetre and then split into a 200-gram to 300-gram 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 by two-acid digestion 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 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 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, while 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 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 per cent 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.