20:16:58 EDT Wed 16 Jun 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Silvercorp Metals Inc
Symbol SVM
Shares Issued 174,870,964
Close 2020-11-13 C$ 9.95
Recent Sedar Documents

Silvercorp drills 1.89 m of 37.08 g/t Au at LMW

2020-11-16 07:08 ET - News Release

Mr. Lon Shaver reports

SILVERCORP INTERSECTS 1.89 METRES GRADING 37.08 GRAMS PER TONNE GOLD IN NEW GOLD ZONES AT THE LMW MINE, YING MINING DISTRICT, CHINA

Silvercorp Metals Inc. has discovered new gold zones and high-grade intercepts from its 2020 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 2020 exploration program from July 1, 2019, to Oct. 30, 2020, at the LMW mine has used infill drilling to target areas of known subvertical silver-lead-zinc veins that were previously believed to be uneconomic. Since June, 2020, drilling has also targeted the gently dipping zones believed to host gold mineralization, as reported in the May 28, 2020, news release. These gold zones were previously undiscovered and appear to have been overprinted by the subvertical silver-lead-zinc veins, which are the focus of current mining operations. Currently, 10 rigs are drilling at the LMW mine and a total of 132 diamond drill holes, including 108 underground holes and 24 surface holes totalling 37,869 metres, have been completed. Assay results for 125 holes have been received with 72 holes intercepting many zones of higher-grade silver-lead mineralization, including veins LM7, LM7W1, LM8, LM8-1, LM12-1, LM13, LM14, LM16, LM22, LM25W, LM41E, LM41E1 and LM41E2. Most of these higher-grade silver-lead discoveries can be mined through existing tunnels, which is expected to substantially reduce tunnel development costs at the LMW mine going forward.

Drilling to test the gold-bearing subhorizontal shear zone LM22 has intersected high gold grades, including 37.08 g/t Au over 1.89 m. In addition, at least three new gently dipping (to the west at less than 15 degrees), stacked gold mineralization zones, namely LM50, LM51 and LM53, have been discovered in this drill campaign. The gold mineralization is associated with k-feldspar-ankerite-quartz-pyrite-galena veinlets and stockwork alteration. The most-drilled LM50 vein has been defined by drilling and underground tunnelling over 450 m along strike to the northeast and 350 m downdip in a 25 m to 50 m grid pattern and true thicknesses ranging from 0.5 m to over 5.4 m. Three rigs are drilling LM50, which is open in all directions.

Highlights of selected drill hole intersections:

  • Hole ZKX0535 intersected a 1.89 m interval (1.66 m true width) of vein LM22 grading 37.08 grams per tonne gold, four g/t silver and 0.53 per cent copper, which includes a 1.25 m interval (1.10 m true width) grading 55.80 g/t Au, five g/t Ag and 0.56 per cent Cu.
  • Hole ZKX0723 intersected a 6.13 m interval (4.89 m true width) of vein LM50 grading 5.23 g/t Au, 30 g/t Ag, 0.21 per cent lead and 0.12 per cent zinc, which includes a 1.58 m interval (1.34 m true width) grading 12.70 g/t Au, 19 g/t Ag, 0.10 per cent Pb and 0.12 per cent Zn.
  • Hole ZKX0527 intersected a 2.34 m interval (2.22 m true width) of vein LM50 grading 8.51 g/t Au and 16 g/t Ag, including a 1.22 m interval (1.16 m true width) grading 13.30 g/t Au and 15 g/t Ag. Hole ZKX0725 intercepted a 2.45 m interval grading 4.33 g/t Au of an unknown vein, approximately 50 m above the LM50 zone.
  • Hole ZKX0940 intersected a 1.63 m interval (1.46 m true width) of vein LM8-1 grading 1,984 g/t Ag, 3.86 per cent Pb, 0.60 per cent Zn, 0.07 g/t Au and 0.49 per cent Cu, which includes a 1.08 m interval (0.97 m true width) grading 2,985 g/t Ag, 5.26 per cent Pb, 0.87 per cent Zn, 0.10 g/t Au and 0.73 per cent Cu.
  • Hole ZKX0934 intersected a 4.43 m interval (2.50 m true width) of vein LM12-1 grading 343 g/t Ag, 6.21 per cent Pb, 1.16 per cent Zn and 0.17 g/t Au, which includes two intersections:
    • 1.24 m interval (0.70 m true width) grading 339 g/t Ag, 7.72 per cent Pb, 0.28 per cent Zn and 0.17 g/t Au;
    • 0.89 m interval (0.50 m true width) grading 1,185 g/t Ag, 17.46 per cent Pb, 4.84 per cent Zn and 0.50 g/t Au.
  • Hole ZKX0118 intersected a 1.81 m interval (1.29 m true width) of vein LM25W grading 1,715 g/t Ag, 1.53 per cent Pb, 0.44 per cent Zn, 0.44 g/t Au and 0.30 per cent Cu.

In addition, a total of 8,684 metres of exploration tunnels have been developed at the LMW mine during the period. These exploration tunnels (including 4,750 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 in the associated table.

                                                                               
                                     Channel                          Total mineralization exposed by drifts (1)
Major target veins          Total    samples      Drift              Average
                       tunnelling  collected   included   Length  true width     Ag     Pb     Zn      Au     Cu
                              (m)                   (m)      (m)         (m)  (g/t)    (%)    (%)   (g/t)    (%)
LM19W2, T27E, LM14,
LM16-1, LM16,LM17W,
LM12-1, LM12E, LM22,
LM8-4a, LM32, LM8,
LM41E, LM17                 8,684      3,320      4,750      775        0.53    397   4.34   0.42    0.09   0.18

(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:

  • Drift tunnel XPDS-LM17-575-26SYM2 exposed mineralization 25 m long and 1.54 m wide (true width) grading 894 g/t Ag, 9.35 per cent Pb, 0.53 per cent Zn, 0.17 g/t Au and 1.16 per cent Cu within vein structure LM17.
  • Drift tunnel XPDS-LM16-675-115SYM exposed mineralization 10 m long and 0.59 m wide (true width) grading 1,740 g/t Ag, 0.96 per cent Pb and 0.36 per cent Zn within vein structure LM16.
  • Drift tunnel PD1080-LM41E-1080-11NYM exposed mineralization 15 m long and 0.74 m wide (true width) grading 1,079 g/t Ag, 2.12 per cent Pb, 0.15 per cent Zn, 0.02 g/t Au and 0.55 per cent Cu within vein structure LM41E.
  • Drift tunnel PD918-W6-880-128NYM exposed mineralization 35 m long and 0.68 m wide (true width) grading 603 g/t Ag, 4.91 per cent Pb, 2.12 per cent Zn, 0.02 g/t Au and 0.13 per cent Cu within vein structure W6.

                SELECTED RESULTS FROM THE 2020 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)      (%)

ZKX0015       307.53    308.73       1.20         1.07       331     1.10    2.78     0.05     0.14
ZKX0015       349.68    350.51       0.83         0.78         3     0.01    0.01     1.03     0.29
ZKX0016       131.45    133.12       1.67         0.94       522     0.43    0.03     0.05     0.07
ZKX0017       278.50    280.97       2.47         1.34       273     0.25    0.03     0.16     0.26
ZKX0026       192.99    193.79       0.80         0.75        13     0.02    0.02     4.75     2.18
ZKX0118        30.48     32.29       1.81         1.29     1,715     1.53    0.44     0.44     0.30
ZKX0118       146.71    148.17       1.46         1.27         3     0.01    0.01     3.52     0.33
ZKX0319       270.45    271.16       0.71         0.57         5     0.01    0.01     3.19     0.69
ZKX0334        84.70     86.08       1.38         1.30         1     0.00    0.00     5.43     0.09
ZKX0517        46.70     47.23       0.53         0.50         6     0.01    0.02     2.49     0.00
ZKX0527       162.82    165.16       2.34         2.22        16     0.64    0.07     8.51     0.01
including     163.94    165.16       1.22         1.16        15     0.86    0.07    13.30     0.01
ZKX0528       154.89    159.55       4.66         3.15         5     0.01    0.02     2.58     0.00
including     159.15    159.55       0.40         0.26        47     0.04    0.04    26.70     0.01
ZKX0529       113.56    114.16       0.60         0.36       780     1.23    0.33     0.04     0.46
ZKX0529       168.28    176.06       7.78         4.68       256     0.76    0.07     0.01     0.08
including     168.28    169.97       1.69         1.02       587     0.25    0.02     0.01     0.03
and           174.68    176.06       1.38         0.83       609     2.93    0.24     0.01     0.39
ZKX0531       105.26    105.97       0.71         0.61         5     0.02    0.01    21.10     1.14
ZKX0535        92.91     94.80       1.89         1.66         4     0.00    0.01    37.08     0.53
including      92.91     94.16       1.25         1.10         5     0.00    0.01    55.80     0.56
ZKX0723       184.27    190.40       6.13         4.89        30     0.21    0.12     5.23     0.00
including     184.27    185.85       1.58         1.34        19     0.10    0.12    12.70     0.01
ZKX0725       126.41    128.86       2.45         2.06         2     0.01    0.01     4.33     0.01
including     126.41    127.36       0.95         0.80         3     0.02    0.01    10.03     0.01
ZKX0725       166.07    167.37       1.30         1.18         1     0.02    0.06     1.87     0.01
ZKX0726       165.59    166.44       0.85         0.65        15     0.59    0.33     9.74     0.01
ZKX0726       207.06    208.56       1.50         0.92       370     0.59    0.08     0.01     0.04
ZKX0934       135.46    136.56       1.10         0.98        39     0.09    0.46     3.25     0.01
ZKX0934       323.27    327.70       4.43         2.50       343     6.21    1.16     0.17     0.04
including     323.27    324.51       1.24         0.70       339     7.72    0.28     0.17     0.05
and           326.81    327.70       0.89         0.50     1,185    17.64    4.84     0.50     0.08
ZKX0940       249.22    250.85       1.63         1.46     1,984     3.86    0.60     0.07     0.49
including     249.77    250.85       1.08         0.97     2,985     5.26    0.87     0.10     0.73
ZKX1103        56.48     57.34       0.86         0.72       156     0.91    0.05     0.03     0.01
ZKX1103       116.00    116.29       0.29         0.27       618     0.08    0.03     0.03     0.04
ZKX1104       157.45    157.70       0.25         0.23     2,133     1.99    0.14     0.05     0.18
ZKX1105       130.58    131.30       0.72         0.62       644     3.02    0.79     0.05     0.33
including     130.58    130.82       0.24         0.21     1,842     8.37    2.25     0.05     0.94
ZKX1105       133.32    133.69       0.37         0.32       582     3.69    1.07     0.05     0.22
ZKX1108       130.04    131.52       1.48         0.85       330     0.63    0.02     0.01     0.02
ZKX1109       157.87    158.85       0.98         0.51        12     0.04    0.03     8.35     0.00
ZKX1501       270.21    273.89       3.68         2.83       135     0.35    0.04     0.01     0.02
including     270.21    270.46       0.25         0.16     1,579     3.70    0.40     0.03     0.20
ZKX4007       284.81    287.36       2.55         1.81       423     0.26    0.22     0.01     0.07
ZKX4008       296.43    297.54       1.11         0.80        29    13.52    0.04     0.01     0.00
including     297.21    297.54       0.33         0.24        81    43.66    0.03     0.02     0.01
ZKX6801       121.67    122.94       1.27         1.22         2     0.25    0.02     1.99     0.02
including     122.68    122.94       0.26         0.25         6     0.91    0.03     5.91     0.04
ZKX6803       182.76    184.49       1.73         0.89       454     1.37    0.18     0.01     0.28
ZKX10105      336.91    337.16       0.25         0.20        20     9.13    1.00     0.03        0
ZKX10509      254.09    254.52       0.43         0.40       743     0.32    0.30     0.31     0.05
ZKX10509      282.06    282.41       0.35         0.27       723     1.57    0.14     0.33     0.01
ZKX10509      385.00    385.51       0.51         0.39       168    11.57    1.77     0.22     0.03
ZKX10708      247.43    249.99       2.56         2.15       394     2.96    0.22     0.03     0.07
ZKX10814      232.25    233.17       0.92         0.65         9     0.02    0.01     2.21     0.00
ZKX10915        8.72      9.19       0.47         0.36       639     3.04    0.36     0.12     0.02
ZKX11402      259.04    259.84       0.80         0.54       527     2.21    0.43     0.07     0.12
ZKX11507      229.68    231.39       1.71         0.93        82     7.53    0.13     0.01     0.04
ZKX12503      174.73    175.88       1.15         0.99       475     1.68    0.13     0.05     0.02
ZKT4402       174.17    174.95       0.78         0.66        18     0.17    0.01     8.60     0.29
ZKT4802       318.39    319.08       0.69         0.64       366     7.85    0.42     0.05     0.02
including     318.39    318.62       0.23         0.21       329    22.97    1.15     0.05     0.03

             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)     (%)

XPDN-LM8-600-111NYM                LM8            25          0.33      229    2.57   0.29    0.04    0.07
XPDN-LM8-4a-500-143NYM          LM8-4a            35          0.42      301    1.07   1.39    0.00    0.00
PD969Shaft-LM12-1-600-12SYM     LM12-1            45          0.77      344    3.37   0.19    0.00    0.00
PD924-LM12E-924-11NYM            LM12E            35          0.46      201    1.33   0.15    0.00    0.00
XPDS-LM14-625-109SYM              LM14            20          0.24      440    3.34   0.06    0.00    0.00
XPDS-LM14-575-113NYM1             LM14            15          0.47      135    3.58   0.19    0.00    0.00
XPDS-LM14-575-113NYM2             LM14            15          0.30      304    2.96   0.25    0.00    0.00
XPDS-LM16-675-115SYM              LM16            10          0.59    1,740    0.96   0.36    0.00    0.00
XPDS-LM16-1-725-111NYM          LM16-1            20          0.29      616    1.64   0.25    0.00    0.00
XPDS-LM17-575-26SYM1              LM17            40          0.70       96    4.02   0.35    0.00    0.00
XPDS-LM17-575-26SYM2              LM17            25          1.54      894    9.35   0.53    0.17    1.16
XPDS-LM17W-600-0NYM1             LM17W            20          0.40      377    4.37   0.66    0.00    0.00
XPDS-LM17W-600-0NYM2             LM17W            40          0.72      249    2.98   1.16    0.00    0.00
XPDN-LM17W-800-9ECM             LM17W1            15          0.27      719    5.07   0.59    0.00    0.00
XPDN-LM19W2-700-122SYM          LM19W2            70          0.63      499    2.72   0.45    0.00    0.00
PD969Shaft-LM19W2-600-114SYM    LM19W2            12          0.52      195    1.22   0.18    0.00    0.00
PD969Shaft-LM19W2-600-114NYM    LM19W2            15          0.56      381    1.63   0.15    0.00    0.00
SJ969-LM19W2-550-110NYM         LM19W2            15          0.97       26    8.58   0.26    0.00    0.00
PD924-LM22-834-3NYM               LM22            40          0.18       11    0.04   0.01    2.72    1.55
PD969Shaft-LM30-550-114SYM        LM30            30          0.41      136    4.40   0.31    0.00    0.00
PD969Shaft-LM12-2-500-14SYM       LM32            25          0.28      303    4.87   0.85    0.33    0.11
PD1080-LM41E-1080-11NYM          LM41E            15          0.74    1,079    2.12   0.15    0.02    0.55
PD924-T27E-900-110SYM             T27E            20          0.89      114   14.33   0.17    0.00    0.00
PD918-W6-880-128NYM             W6 (1)            35          0.68      603    4.91   2.12    0.02    0.13

(1) Veins discovered between July 1, 2019, and Oct. 30, 2020.

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 km 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.

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

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.