Muzhu Mining Provides Information ON Xwg Silver Property Adjacent to Silvercorp Metals
MUZHU MINING PROVIDES INFORMATION ON XWG SILVER
PROPERTY ADJACENT TO SILVERCORP METALS
Not for distribution to U.S. news wire services or for dissemination in the United States
February 1st, 2022 - Vancouver, B.C.; Muzhu Mining Ltd. (“Muzhu” or
the “Company”) (CSE: MUZU) is pleased to provide additional material on
the Xiao Wa Gou property (XWG) (“the Property”) adjacent to Silvercorp
Metals Inc. located in Henan Province, China where Muzhu can earn up to
an 80% interest (MUZU press release dated November 22nd, 2021).
The silver-lead-zinc XWG Property covers an area of 213 hectares and is
situated in the Xiayu Township, in the southwestern part of Luoning
County, Henan Province, in the People’s Republic of China. The Property
offers near term potential for the production of silver, lead, zinc and copper
due to the presence of numerous mineralized veins and its proximity to a
number of operating mines owned by Silvercorp Metals Inc.
(“Silvercorp”).
The XWG Property is located in China’s “Silver Triangle” comprising the
Tieluping Silver District to the east, the Ying Silver Mine to the west and
the HPG Project to the north, and is surrounded by several other producing
mines including the TLP silver-lead mine, and the LM silver-lead mine, all
owned by Silvercorp. The TLP and LM mines are immediately adjacent to
the northeast of the XWG Property.
Samples were taken during a 2018 exploration program that exhibit highly
anomalous grades of Silver, Lead, Zinc and Copper. Some samples
returned values as high as; 1,500 g/t Ag, 3.88 % Pb, 6680 ppm Zn and
7% Copper.
Figure 1. XWG Property Location map
More than seven (7) individual mineralized veins have been identified by
previous work carried out on the Property by Team 6 of the Henan
Nonferrous Geological Prospecting Department. Lengths of the known
veins vary from 270 to 1,080 metres with widths varying from 1.0 to 5.0
metres.
The XWG property offers a unique exploration opportunity in the Ying
Mining District. The Property is in the southeast portion of the Ying Mining
District, immediately adjacent, to the southwest, of the TLP and LM mines.
Approximately 224 mineralized veins have been identified to date at
mines owned by Silvercorp in the District adjacent to the XWG Property.
The mines are reported to have produced over 50 million oz of silver and
more than 300 million kg of lead and zinc since 2006.
Previously constructed tunnels on the XWG Property represent a
significant exploration and economic advantage on the Property, which will
allow cost efficient underground access for exploration and development
purposes. Toll mills are available within trucking distance of the Property.
The need for mineral processing facilities on the Property is thus
minimized.
Figure 2. XWG Property
Don Baxter P.Eng CEO of Muzhu Mining states, “Silvercorp Metals helped
develop this District and have been successful in determining the validity of
the geology with a number of successful operational mines within the
immediate surroundings of Muzhu’s XWG Property. With infrastructure in
place for Muzhu Mining to potentially take advantage of Silver and Zinc
market prices and a bullish outlook for the metals, Muzhu looks forward to
commencing work on the XWG property throughout 2022.”
Muzhu Mining’s neighbour, Silvercorp Metals, continues to announce new
developments from the district such as from June 1st, 2021 press release,
“Intersects Vein T15W2 with 1.74 Metres True Width Grading 3,911 Grams
Per Tonne Silver, 6.22% Lead, 2.11% Zinc and 0.55% Copper at the TLP
Mine, Ying Mining District, China.” June 1, 2021 – Silvercorp Metals Inc.
(Silvercorp).
QUALIFIED PERSON (QP)
Tom Carpenter, P.Geo., is a Qualified Person as defined by National
Instrument 43-101 ("N.I. 43-101") guidelines and has reviewed and
approved the content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Donald Baxter, P. ENG
CEO
Muzhu Mining Ltd.
Phone: 1-226-455-5644
Email: [email protected]
About Muzhu Mining Ltd.
Muzhu Mining Ltd. is a Canadian publicly traded exploration company with
a portfolio of highly prospective projects at various stages of development.
Muzhu currently holds 100% interest in the Sleeping Giant South Project,
located in the Abitibi Greenstone Belt, approximately 75km South of
Matagami, Quebec. As well, Muzhu has executed an option agreement to
acquire up to 80% of the Silver, Zinc, Lead XWG Property in the Henan
Province of China adjacent to Silvercorp Metals Inc.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation
Services Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this release.