Silvercorp Intersects 1.35 Metres True Width Grading 2,532 Grams PER Tonne Silver and 14.38% Zinc from Vein S31 at the Sgx MINE
SILVERCORP INTERSECTS 1.35 METRES TRUE WIDTH GRADING 2,532
GRAMS PER TONNE SILVER AND 14.38% ZINC FROM VEIN S31 AT THE
SGX MINE
VANCOUVER, BC
,
Jan. 24, 2022
/CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report
additional high-grade intercepts from its 2021 exploration program at the SGX mine. Extensive exploration drilling and tunneling are ongoing at the SGX mine and
all other mines in the Ying Mining District,
Henan Province
,
China
.
From
July 1 to December 31, 2021
, 52,634 metres ("m") from a total of 327 diamond drill holes, including 272 underground holes and 55 surface holes, were
completed at the SGX mine. Assay results for 209 holes have been received, with 102 holes intercepting mineralization. The Company also received assay results
for 33 holes pending from the previous drilling program at the SGX mine from
October 1, 2020
to
June 30, 2021
disclosed in the Company's news release dated
July 6, 2021
. Currently, there are 19 rigs drilling at the SGX mine.
The strategy of the drilling program is fourfold: 1) drill above or beneath the stopes that were previously mined but stopped due to more variation in grades,
thickness and attitudes of the vein structures than previously modeled; 2) drill for silver-lead-zinc veins in the resource area at higher elevations closer to surface
where there are limited drill holes from previous drilling programs; 3) drill for gold-silver veins in the resource area that were not prioritized in previous drilling
programs; and 4) drill step-outs to the east of the resource area to confirm the continuity of the newly discovered gold-silver veins.
Drilling Above or Beneath Previously Mined Stopes and Near Surface Silver-Lead-Zinc Veins within the Resource Area
Most holes drilled during this period targeted blocks of known silver-lead-zinc veins in production areas that were previously missed due to limited drilling or
tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins. The high-grade intercepts are mainly associated with the northwest-
dipping S2 series, S6 series, S7 series, S8 series, S14 series, S18 series, S19 series, S21 series, east-dipping S31, S28, S29, and S32 veins, which have
resulted in a significant amount of upgraded resources. Since access tunnels are already in place, any high-grade mineralization discovered can quickly be
converted to reserves and mined.
Highlights of the high-grade silver-lead-zinc intercepts at the SGX mine:
Hole ZK02AS6E1007
intersected a
3.19 m
interval (
1.35 m
true width) of vein S31 grading 2,532 grams per tonne ("g/t') silver ("Ag"), 0.69% lead ("Pb"),
14.38% zinc ("Zn"), 0.05 g/t gold ("Au"), and 0.12% copper ("Cu") from
58.35 m
depth, at an elevation of
372 m
;
Hole ZK12S7001
intersected a
2.02 m
interval (
1.65 m
true width) of vein S7a1 grading 1,315 g/t Ag, 14.36% Pb, 0.84% Zn, 0.24 g/t Au, and 0.23% Cu
from
161.50 m
depth, at an elevation of
300 m
;
Hole ZK62S3101
intersected a
0.97 m
interval (
0.89 m
true width) of vein S31 grading 1,764 g/t Ag, 36.49% Pb, 5.72% Zn, 0.13 g/t Au, and 0.27% Cu from
80.19 m
depth, at an elevation of
239 m
;
Hole ZK04AS6E1002
intersected a
0.84 m
interval (
0.76 m
true width) of vein S2 grading 2,497 g/t Ag, 29.05% Pb, 5.78% Zn, 0.12 g/t Au, and 0.23% Cu
from
3.31 m
depth, at an elevation of
353 m
;
Hole ZK50S2914
intersected a
1.22 m
interval (
0.88 m
true width) of vein S29 grading 2,097 g/t Ag, 1.44% Pb, 20.61% Zn, 0.32 g/t Au, and 0.12% Cu from
218.16 m
depth, at an elevation of
341 m
; and
Hole ZK04AS6E1005
intersected a
3.50 m
interval (
3.35 m
true width) of vein S2 grading 291 g/t Ag, 7.41% Pb, 0.94% Zn, 0.12 g/t Au, and 0.04% Cu from
3.04 m
depth, at an elevation of
354 m
.
Drilling for Previous Low Priority Gold-Silver Veins within the Resource Area and Step-Out Drilling Intersecting Gold-Silver Veins
400 m
to the East of
the Resource Area
The drilling continued intersecting and extending the east dipping gold-silver S16 series, including S16W, S16W1, S16E, and S16E3. A total of 44 holes, including
38 holes from this period and six holes pending from the previous drilling program, targeted the S16 vein series. Together with the tunneling programs, the drill
programs defined a mineralized block with a N-S strike length of
500 m
, and a
150 m
down-dip extension. Drilling was focused within the central portion of the
block (
300 m
by
100 m
), with drill hole spacing ranging between
15 m
by
15 m
and
25 m
by
25 m
. Assay results for 33 holes from the previous drilling program
were returned, with 23 holes intersecting gold mineralization.
The Company's No. 1 mill has been upgraded by installing a Knelson Gravity Concentrator to maximize gold-silver ore recovery from the SGX, HPG, LMW, and
DCG mines.
Step-out drilling confirmed the continuity of the gold-silver bearing S11 and S11E veins, approximately
400 m
east of the resource area. The S11 series gold-silver
veins are sub-vertical and strike along a northeast-southwest trend.
Highlights of the gold silver intercepts at the SGX mine:
Hole ZK68AS16W002
intersected a
5.38 m
interval (
5.36 m
true width) of vein S16W grading 52 g/t Ag, 1.08% Pb, 0.39% Zn, 3.93 g/t Au, and 0.01% Cu
from
37.67 m
depth, at an elevation of
340 m
;
Hole ZK74S16W08
intersected a
1.74 m
interval (
1.58 m
true width) of vein S16E3 grading 3 g/t Ag, 0.01% Pb, 0.01% Zn, 5.57 g/t Au, and 0.01% Cu from
92.90 m
depth, at an elevation of
246 m
; and
Hole ZK66AS16W002
intersected a
1.33 m
interval (
1.30 m
true width) of vein S16W grading 56 g/t Ag, 0.34% Pb, 0.72% Zn, 4.61 g/t Au, and 0.04% Cu
from
67.13 m
depth, at an elevation of
341 m
.
Table 1: Selected intercepts from the drilling programs at the SGX mine
Hole ID
From
(m)
To
(m)
Elevation
(m)
interval
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
Veins
Ore Type
ZK01BS7_2003
116.95
117.46
194
0.51
0.44
74
4.45
0.27
0.16
0.02
S7_2
Ag-Pb-Zn
ZK01BS7_2007
93.55
94.30
255
0.75
0.48
275
18.73
0.30
0.05
0.03
S16W2
Ag-Pb-Zn
ZK01BS7_2007
114.32
120.19
252
5.87
5.27
193
6.32
0.08
0.06
0.02
S7_2
Ag-Pb-Zn
incl
114.32
115.05
253
0.73
0.65
1,058
45.45
0.05
0.05
0.10
S7_2
Ag-Pb-Zn
ZK01BS7_2007
179.64
180.52
245
0.88
0.68
71
0.16
5.27
0.05
0.08
S7_1E
Ag-Pb-Zn
ZK01BS7_2012
121.14
123.38
194
2.24
1.92
362
0.34
0.12
0.09
0.03
S7_2
Ag-Pb-Zn
ZK01BS7_2013
129.25
129.95
199
0.70
0.55
1,663
35.93
0.34
0.05
0.12
S7_2
Ag-Pb-Zn
ZK02AS6001
86.32
88.53
388
2.21
1.46
342
5.68
3.64
0.05
0.03
S6
Ag-Pb-Zn
ZK02AS6001
89.78
91.77
387
1.99
1.34
242
1.16
6.23
0.13
0.03
S2
Ag-Pb-Zn
ZK02AS6002
60.91
61.56
388
0.65
0.55
300
1.03
5.82
0.05
0.07
S6E1
Ag-Pb-Zn
ZK02AS6003
8.89
9.55
402
0.66
0.58
568
8.02
1.25
0.11
0.16
S14
Ag-Pb-Zn
ZK02AS6003
142.83
143.43
386
0.60
0.43
230
0.96
9.74
0.14
0.06
S2
Ag-Pb-Zn
ZK02AS6E1001
30.56
31.29
389
0.73
0.55
2,244
40.30
4.28
0.21
0.18
S31
Ag-Pb-Zn
ZK02AS6E1004
41.53
42.32
374
0.79
0.76
470
0.81
5.19
0.05
0.07
S31
Ag-Pb-Zn
ZK02AS6E1006
50.91
51.81
370
0.90
0.49
3,358
17.50
6.52
0.05
0.41
S31
Ag-Pb-Zn
ZK02AS6E1007
58.35
61.54
372
3.19
1.35
2,532
0.69
14.38
0.05
0.12
S31
Ag-Pb-Zn
incl
59.03
60.61
372
1.58
0.67
5,064
1.08
27.72
0.05
0.23
S31
Ag-Pb-Zn
ZK02AS6E1008
34.83
36.57
388
1.74
1.43
123
1.40
1.18
0.06
0.03
S31
Ag-Pb-Zn
ZK02AS6E1009
65.86
67.13
391
1.27
0.61
815
0.20
1.54
0.10
0.08
S31
Ag-Pb-Zn
ZK02BS6001
96.96
98.65
374
1.69
0.76
261
1.96
3.43
0.03
0.03
S29
Ag-Pb-Zn
ZK02S6002
139.30
139.99
374
0.69
0.62
159
0.16
0.15
0.04
0.00
S37
Ag-Pb-Zn
ZK02S7_210
102.38
105.08
438
2.70
1.79
251
1.27
1.87
0.05
0.04
S7_2
Ag-Pb-Zn
ZK04AS14002
48.36
49.08
242
0.72
0.41
674
16.45
1.63
0.11
0.05
S31
Ag-Pb-Zn
ZK04AS14004
46.55
47.25
247
0.70
0.69
444
6.81
1.16
0.05
0.08
S31
Ag-Pb-Zn
ZK04AS14010
4.74
5.55
353
0.81
0.68
200
3.99
1.43
0.02
0.03
S2
Ag-Pb-Zn
ZK04AS14010
10.99
11.74
352
0.75
0.54
393
6.98
11.09
0.03
0.13
S6
Ag-Pb-Zn
ZK04AS14010
65.07
66.01
345
0.94
0.94
477
0.77
1.27
0.07
0.08
S31
Ag-Pb-Zn
ZK04AS14012
8.78
9.40
349
0.62
0.54
691
16.41
6.28
0.05
0.04
S6
Ag-Pb-Zn
ZK04AS14012
128.27
129.50
316
1.23
1.21
1,003
0.56
6.19
0.09
0.54
S14
Ag-Pb-Zn
ZK04AS14013
2.46
2.96
354
0.50
0.39
456
1.52
1.23
0.05
0.02
S2
Ag-Pb-Zn
ZK04AS2006
26.07
26.85
257
0.78
0.62
138
4.08
0.43
0.13
0.01
S29
Ag-Pb-Zn
ZK04AS2006
145.15
145.85
226
0.70
0.37
730
3.49
14.32
0.10
0.13
S2
Ag-Pb-Zn
ZK04AS2009
140.33
141.01
227
0.68
1.49
205
2.78
6.80
0.05
0.04
S6
Ag-Pb-Zn
ZK04AS31001
69.28
69.93
245
0.65
0.56
69
2.71
2.96
0.05
0.03
S31
Ag-Pb-Zn
ZK04AS37004
19.27
20.44
345
1.17
1.15
151
0.43
2.31
0.05
0.02
S29
Ag-Pb-Zn
ZK04AS37004
36.47
37.55
337
1.08
0.68
167
5.01
0.97
0.05
0.04
S37E
Ag-Pb-Zn
ZK04AS6003
98.67
99.52
237
0.85
0.54
304
3.98
3.70
0.03
0.03
S2
Ag-Pb-Zn
ZK04AS6004
102.13
102.77
239
0.64
0.44
643
1.26
13.83
0.24
0.18
S6
Ag-Pb-Zn
ZK04AS6005
164.49
165.08
227
0.59
1.81
96
1.86
0.49
0.03
0.00
S2a
Ag-Pb-Zn
ZK04AS6005
164.49
167.05
227
2.56
1.81
96
1.86
0.49
0.03
0.00
S2a
Ag-Pb-Zn
ZK04AS6E1002
3.31
4.15
353
0.84
0.76
2,497
29.05
5.78
0.12
0.23
S2
Ag-Pb-Zn
ZK04AS6E1002
9.45
10.06
351
0.61
0.40
215
5.07
11.09
0.16
0.11
S6
Ag-Pb-Zn
ZK04AS6E1002
50.55
51.16
340
0.61
0.55
2,321
7.16
5.14
0.15
0.18
S6E
Ag-Pb-Zn
ZK04AS6E1002
67.44
68.09
335
0.65
0.56
2,385
3.91
6.21
0.12
0.22
S14_2
Ag-Pb-Zn
ZK04AS6E1003
0.79
1.32
353
0.53
0.50
299
5.35
0.99
0.03
0.02
N/A
[1]
Ag-Pb-Zn
ZK04AS6E1003
3.53
4.18
351
0.65
0.61
955
32.65
3.47
0.03
0.12
S2
Ag-Pb-Zn
ZK04AS6E1003
9.75
10.45
348
0.70
0.66
422
7.34
10.76
0.06
0.05
S6
Ag-Pb-Zn
ZK04AS6E1003
79.81
80.42
308
0.61
0.44
292
1.56
1.79
0.14
0.03
S6E1
Ag-Pb-Zn
ZK04AS6E1005
3.04
6.54
354
3.50
3.35
291
7.41
0.94
0.12
0.04
S2
Ag-Pb-Zn
incl
5.75
6.54
353
0.79
0.76
1,197
30.88
4.07
0.15
0.13
S2
Ag-Pb-Zn
ZK04AS6E1005
11.56
12.16
351
0.60
0.55
179
3.71
7.24
0.14
0.07
S6
Ag-Pb-Zn
ZK04AS6E1005
34.77
35.32
344
0.55
0.51
106
2.89
1.00
0.05
0.02
S6E
Ag-Pb-Zn
ZK04AS6E1005
66.12
66.64
335
0.52
0.51
233
1.93
3.31
0.05
0.06
S6E1
Ag-Pb-Zn
ZK04AS6E1005
130.53
131.18
316
0.65
0.62
363
0.21
0.42
0.05
0.23
S14
Ag-Pb-Zn
ZK04AS6E1007
1.49
2.09
353
0.60
0.60
260
3.41
0.16
0.05
0.03
S2
Ag-Pb-Zn
ZK04AS6E1007
8.64
9.17
349
0.53
0.52
123
10.95
2.04
0.05
0.02
S6
Ag-Pb-Zn
ZK04AS6E1009
7.32
8.13
351
0.81
0.72
679
12.47
10.11
0.03
0.05
S2
Ag-Pb-Zn
ZK04AS7_207
91.79
92.44
428
0.65
0.43
529
0.15
0.20
0.05
0.03
S7W
Ag-Pb-Zn
ZK04AS7_207
101.57
102.27
421
0.70
0.44
535
40.14
5.94
0.05
0.13
S7_2
Ag-Pb-Zn
ZK04AS8008
35.57
36.61
400
1.04
0.94
64
2.17
1.49
0.02
0.03
S7E
Ag-Pb-Zn
ZK04AS8009
51.89
52.42
383
0.53
0.41
367
3.19
4.47
0.07
0.07
S7Ea
Ag-Pb-Zn
ZK04S19003
22.77
24.09
557
1.32
1.18
160
0.88
2.12
0.05
0.02
S19
Ag-Pb-Zn
ZK04S21W101
93.08
94.35
406
1.27
1.18
273
2.91
0.84
0.06
0.03
S16E1
Ag-Pb-Zn
ZK04S6005
32.16
32.78
448
0.62
0.59
430
1.46
2.20
0.05
0.04
S31
Ag-Pb-Zn
ZK04S6012
39.10
40.93
440
1.83
1.53
167
2.21
1.26
0.05
0.03
S31
Ag-Pb-Zn
ZK04S6E1001
8.71
10.21
351
1.50
1.45
153
4.64
0.28
0.03
0.01
S6
Ag-Pb-Zn
ZK04S6E1002
1.53
2.25
353
0.72
0.64
242
6.79
0.15
0.03
0.03
S2
Ag-Pb-Zn
ZK04S6E1002
8.18
8.75
349
0.57
0.52
389
3.91
2.89
0.04
0.02
S6
Ag-Pb-Zn
ZK06S601
15.45
16.53
348
1.08
0.77
25
2.39
1.99
0.05
0.01
S6E
Ag-Pb-Zn
ZK06S601
35.52
37.49
339
1.97
0.90
647
13.80
4.36
0.05
0.06
S6
Ag-Pb-Zn
ZK06S602
3.67
4.48
353
0.81
0.55
124
1.51
2.74
0.05
0.02
S6E1
Ag-Pb-Zn
ZK06S602
40.27
41.93
339
1.66
0.80
46
1.09
5.14
0.05
0.03
S6
Ag-Pb-Zn
ZK06S604
0.00
1.33
353
1.33
0.83
860
19.62
8.78
0.14
0.14
S14_2
Ag-Pb-Zn
ZK06S604
4.37
5.01
352
0.64
0.50
356
10.37
4.21
0.05
0.04
S6E1
Ag-Pb-Zn
ZK06S604
32.44
33.01
344
0.57
0.41
593
11.31
2.48
0.12
0.04
S6E
Ag-Pb-Zn
ZK06S604
78.05
79.40
332
1.35
0.48
471
13.94
3.19
0.05
0.07
S6
Ag-Pb-Zn
ZK06S605
4.42
4.93
352
0.51
0.33
761
11.24
1.66
0.03
0.05
S6E1
Ag-Pb-Zn
ZK06S605
96.32
97.28
310
0.96
0.95
72
1.11
10.51
0.03
0.05
S2
Ag-Pb-Zn
ZK06S606
0.00
0.79
352
0.79
0.50
2
6.82
6.13
0.18
0.12
S14_2
Ag-Pb-Zn
ZK06S606
30.61
31.56
343
0.95
0.67
84
0.99
2.61
0.03
0.02
S6E
Ag-Pb-Zn
ZK06S606
56.21
59.27
336
3.06
2.15
151
0.24
2.47
0.13
0.02
S6
Ag-Pb-Zn
ZK06S606
76.37
77.37
330
1.00
0.60
327
5.68
9.15
0.03
0.08
S2
Ag-Pb-Zn
ZK06S606
86.73
88.56
327
1.83
0.66
147
2.43
0.12
0.03
0.01
S2W
Ag-Pb-Zn
ZK06S607
0.00
1.36
355
1.36
0.62
858
13.09
6.89
0.12
0.10
S14_2
Ag-Pb-Zn
ZK06S607
64.87
66.18
342
1.31
0.65
96
0.30
10.60
0.03
0.03
S6a
Ag-Pb-Zn
ZK06S607
78.53
79.98
340
1.45
0.44
271
8.51
4.09
0.02
0.04
S6
Ag-Pb-Zn
ZK07AS2804
122.97
125.83
443
2.86
2.82
400
0.48
0.91
0.06
0.22
S28E
Ag-Pb-Zn
ZK08AS18E05
17.96
18.75
389
0.79
0.55
210
0.44
0.05
0.55
0.03
S18
Au-Ag
ZK08AS33001
38.70
39.20
391
0.50
0.47
857
1.64
3.53
5.34
0.06
S18
Au-Ag
ZK08AS33001
126.45
127.20
368
0.75
0.71
523
2.02
0.66
0.55
0.03
S35E
Ag-Pb-Zn
ZK08AS33003
121.72
123.69
374
1.97
1.41
242
0.06
0.01
0.06
0.01
S33
Ag-Pb-Zn
ZK09S2803
145.72
146.36
441
0.64
0.61
90
4.88
1.89
0.05
0.10
S28
Ag-Pb-Zn
ZK10AS7001
60.59
61.26
347
0.67
0.66
291
4.33
0.92
0.08
0.08
S21a
Ag-Pb-Zn
ZK10AS7001
110.45
111.63
340
1.18
1.11
252
0.67
0.81
0.04
0.05
S7W1
Ag-Pb-Zn
ZK10S16E001
15.67
16.26
452
0.59
0.52
419
0.06
0.07
0.49
0.01
S21Wa
Ag-Pb-Zn
ZK10S33011
138.29
138.99
320
0.70
0.42
245
2.52
4.67
0.68
0.01
S33
Ag-Pb-Zn
ZK12S601
75.86
77.38
292
1.52
1.41
197
4.13
4.04
0.05
0.04
S6
Ag-Pb-Zn
ZK12S601
146.22
146.84
280
0.62
0.54
520
0.50
8.55
0.05
0.11
S14_1
Ag-Pb-Zn
ZK12S602
79.40
80.11
275
0.71
0.63
52
6.78
0.72
0.05
0.01
S6
Ag-Pb-Zn
ZK12S602
86.64
87.50
272
0.86
0.84
60
2.70
0.52
0.05
0.01
S31
Ag-Pb-Zn
ZK12S603
90.01
90.63
252
0.62
0.62
136
4.57
2.12
0.06
0.02
S6
Ag-Pb-Zn
ZK12S605
87.84
88.39
247
0.55
0.53
467
10.81
15.44
0.18
0.18
S6
Ag-Pb-Zn
ZK12S7001
57.68
58.53
336
0.85
0.72
142
4.69
0.53
0.09
0.06
S21a
Ag-Pb-Zn
ZK12S7001
120.85
121.36
314
0.51
0.45
238
16.33
0.52
0.21
0.05
S7W
Ag-Pb-Zn
ZK12S7001
161.50
163.52
300
2.02
1.65
1,315
14.36
0.84
0.24
0.23
S7a1
Ag-Pb-Zn
ZK13AS8E03
172.21
173.52
219
1.31
0.70
176
11.17
0.17
0.05
0.09
S8Wa
Ag-Pb-Zn
ZK13AS8E04
122.60
123.80
236
1.20
0.81
134
1.41
0.47
0.04
0.06
S8
Ag-Pb-Zn
ZK13AS8E04
162.07
163.29
213
1.22
0.89
190
6.38
0.12
0.02
0.11
S8Wa
Ag-Pb-Zn
ZK13S8E01
98.95
99.48
241
0.53
0.43
1,782
4.01
0.37
0.06
0.64
S8E
Ag-Pb-Zn
ZK13S8E01
108.20
110.42
234
2.22
1.88
127
1.26
0.29
0.03
0.07
S8
Ag-Pb-Zn
ZK13S8E01
129.97
130.63
220
0.66
0.50
102
6.29
0.07
0.03
0.21
S8Wa
Ag-Pb-Zn
ZK13S8E03
97.56
98.07
248
0.51
0.42
93
11.01
0.33
0.05
0.06
S8E
Ag-Pb-Zn
ZK14S16E206
15.86
16.44
347
0.58
0.48
206
2.17
2.10
0.15
0.04
S16E2
Ag-Pb-Zn
ZK15AS1903
115.14
116.40
599
1.26
1.26
33
0.06
0.03
1.72
0.05
S19E
Au-Ag
ZK15AS1903
136.61
138.02
597
1.41
1.12
39
0.61
3.79
2.65
0.21
S19
Au-Ag
ZK15AS1917
79.91
81.50
586
1.59
1.47
605
0.14
1.20
0.18
0.06
S7_2a2
Ag-Pb-Zn
ZK15AS8E03
8.42
8.99
304
0.57
0.37
176
6.49
0.19
0.03
0.05
S8
Ag-Pb-Zn
ZK15AS8E04
61.39
72.36
261
10.97
6.09
311
4.55
0.40
0.03
0.10
S8E
Ag-Pb-Zn
ZK15S1906
124.77
126.66
596
1.89
1.66
30
0.21
7.99
0.05
0.03
S19
Ag-Pb-Zn
ZK17AS7_121
102.85
103.75
442
0.90
0.84
100
0.98
5.22
0.05
0.05
S7_2
Ag-Pb-Zn
ZK17AS7_121
115.96
116.40
435
0.44
0.41
1,535
48.20
2.08
0.05
0.03
S7_1
Ag-Pb-Zn
ZK17S8W001
6.42
7.15
308
0.73
0.58
426
26.20
0.52
0.05
0.08
S8Wa
Ag-Pb-Zn
ZK19AS7_109
111.46
112.17
430
0.71
0.58
107
1.47
6.78
0.05
0.04
S7_1
Ag-Pb-Zn
ZK19AS7_113
121.54
122.10
471
0.56
0.46
232
14.59
0.16
0.03
0.01
S7_1a
Ag-Pb-Zn
ZK19AS7_113
124.62
125.54
471
0.92
0.76
704
3.15
0.12
0.03
0.17
S7_1
Ag-Pb-Zn
ZK19S7_110
106.84
107.56
439
0.72
0.69
155
0.84
1.75
0.02
0.07
S7_1
Ag-Pb-Zn
ZK19S8001
74.72
76.78
595
2.06
0.85
82
4.16
0.42
0.05
0.01
S8
Ag-Pb-Zn
ZK19S8005
75.68
77.90
599
2.22
2.19
107
3.87
0.65
0.03
0.01
S8
Ag-Pb-Zn
ZK2S601
86.31
87.27
336
0.96
0.90
76
1.29
4.55
0.03
0.03
S29
Ag-Pb-Zn
ZK4S7_202
65.57
67.95
474
2.38
1.88
415
1.00
0.66
0.05
0.02
S7_2
Ag-Pb-Zn
ZK4S7_202
150.19
150.75
449
0.56
0.44
304
0.77
0.81
0.05
0.03
S16E
Ag-Pb-Zn
ZK4S7_204
51.02
51.78
478
0.76
0.64
462
3.18
3.38
0.12
0.04
S7W
Ag-Pb-Zn
ZK4S7_204
74.84
75.43
472
0.59
0.50
244
0.28
0.30
0.08
0.58
S7_2
Ag-Pb-Zn
ZK4S801
130.92
131.96
461
1.04
0.95
1,181
9.41
6.43
0.24
0.66
S8
Ag-Pb-Zn
ZK4S803
142.62
143.73
429
1.11
1.05
127
4.86
4.28
0.03
0.23
S8a
Ag-Pb-Zn
ZK50S2914
218.16
219.38
341
1.22
0.88
2,097
1.44
20.61
0.32
0.12
S29
Ag-Pb-Zn
ZK50S2915
229.30
229.82
313
0.52
0.26
484
1.61
1.48
0.05
0.28
S14
Ag-Pb-Zn
ZK58S21W1001
123.59
124.58
317
0.99
0.82
173
6.85
0.53
0.05
0.04
S21W1
Ag-Pb-Zn
ZK60S21001
27.23
28.38
300
1.15
0.59
74
4.71
0.29
0.03
0.01
S16E3
Ag-Pb-Zn
ZK60S21001
94.81
95.33
289
0.52
0.48
71
2.30
1.93
0.45
0.01
S21
Ag-Pb-Zn
ZK60S21W1001
141.17
144.31
294
3.14
2.40
92
0.73
0.50
0.39
0.01
S19
Ag-Pb-Zn
ZK60S21W1002
112.30
113.47
306
1.17
0.83
228
3.09
3.02
0.23
0.14
S21W1
Ag-Pb-Zn
ZK60S7W1001
160.17
164.25
325
4.08
3.59
196
2.83
1.27
0.02
0.08
S7a1
Ag-Pb-Zn
incl
160.17
160.81
325
0.64
0.57
1,118
12.32
5.15
0.02
0.46
S7a1
Ag-Pb-Zn
ZK60S7W1001
171.42
171.99
323
0.57
0.46
153
1.35
0.50
0.03
0.06
S7
Ag-Pb-Zn
ZK62S3101
80.19
81.16
239
0.97
0.89
1,764
36.49
5.72
0.13
0.27
S31
Ag-Pb-Zn
ZK62S3101
93.82
94.34
235
0.52
0.42
1,408
2.89
5.37
1.14
0.06
S14_1
Ag-Pb-Zn
ZK62S3101
128.91
129.69
224
0.78
0.54
320
6.63
5.73
0.70
0.19
S14W
Ag-Pb-Zn
ZK62S3102
51.73
52.66
246
0.93
0.64
986
28.33
1.57
0.05
0.13
S14_2
Ag-Pb-Zn
ZK62S3102
70.47
71.57
240
1.10
0.89
127
1.34
5.22
0.09
0.04
S31
Ag-Pb-Zn
ZK62S3102
71.57
72.17
240
0.60
0.49
166
1.69
1.82
0.05
0.03
S14_1
Ag-Pb-Zn
ZK62S3103
60.84
61.73
236
0.89
0.77
186
4.96
3.79
0.07
0.05
S14_2
Ag-Pb-Zn
ZK62S3106
36.83
37.33
248
0.50
0.42
111
1.79
4.25
0.06
0.04
S14_1
Ag-Pb-Zn
ZK64S16W0012
54.85
56.21
292
1.36
1.30
73
0.08
0.06
1.12
0.00
S16W
Au-Ag
ZK64S21002
85.37
86.09
285
0.72
0.68
73
0.82
10.97
0.17
0.06
S21
Ag-Pb-Zn
ZK66AS16W002
67.13
68.46
341
1.33
1.30
56
0.34
0.72
4.61
0.04
S16W
Au-Ag
ZK66S16W006
59.18
60.05
273
0.87
0.78
99
0.59
0.75
0.64
0.02
S16W
Au-Ag
ZK68AS16W002
37.67
43.05
340
5.38
5.36
52
1.08
0.39
3.93
0.01
S16W
Au-Ag
ZK68AS16W003
40.61
41.35
325
0.74
0.66
77
2.57
0.52
0.38
0.01
S16W
Au-Ag
ZK68S16W01
74.68
79.03
386
4.35
4.11
74
1.04
0.73
0.36
0.08
S16W
Au-Ag
ZK68S16W01
174.67
175.86
363
1.19
1.12
104
1.82
0.51
0.07
0.03
S18E2
Ag-Pb-Zn
ZK68S16W03
166.33
166.93
328
0.60
0.52
618
17.21
5.50
0.14
0.14
S18E2
Ag-Pb-Zn
ZK70S16W001
15.50
17.36
349
1.86
0.86
350
4.01
0.84
0.18
0.07
S16E
Ag-Pb-Zn
ZK70S16W001
51.12
54.54
340
3.42
1.59
23
0.95
0.34
2.48
0.02
S16W
Au-Ag
ZK70S16W001
102.33
103.10
325
0.77
0.72
616
1.39
1.85
0.56
0.05
S18E3
Au-Ag
ZK70S16W002
9.24
10.55
349
1.31
0.69
207
1.54
1.53
0.53
0.06
S16E
Au-Ag
ZK70S16W002
52.69
57.08
322
4.39
2.95
24
1.47
0.68
2.16
0.01
S16W
Au-Ag
ZK70S16W003
45.19
46.25
338
1.06
0.89
270
0.39
0.38
3.66
0.02
S16W
Au-Ag
ZK70S16W003
99.64
100.57
320
0.93
0.88
102
3.68
6.32
0.41
0.03
S18E2
Au-Ag
ZK70S16W02
79.67
81.13
371
1.46
1.17
71
1.80
1.71
0.23
0.03
S16W
Au-Ag
ZK72S16W001
90.44
91.25
238
0.81
0.53
13
0.18
0.07
2.62
0.01
S16E2
Au-Ag
ZK72S16W001
211.09
211.91
152
0.82
0.70
60
0.35
1.83
0.77
0.02
S16W
Au-Ag
ZK74S16W08
92.90
94.64
246
1.74
1.58
3
0.01
0.01
5.57
0.01
S16E3
Au-Ag
ZK74S16W08
179.44
183.21
192
3.77
3.44
15
0.83
0.74
1.46
0.02
S16W
Au-Ag
ZK74S16W09
186.68
188.20
192
1.52
1.39
14
0.25
0.48
1.88
0.01
S16W
Au-Ag
ZK74S16W10
175.87
177.22
194
1.35
1.29
44
1.80
3.18
1.38
0.05
S16W
Au-Ag
ZK74S16W11
84.38
84.92
252
0.54
0.46
5
1.09
2.26
3.32
0.03
S16E3
Au-Ag
ZK77S32003
133.92
134.69
504
0.77
0.67
146
1.17
1.79
0.03
0.06
S32
Ag-Pb-Zn
ZK77S32005
154.87
158.56
503
3.69
2.01
40
0.22
9.20
0.03
0.20
S32
Ag-Pb-Zn
ZK77S32010
131.96
132.53
555
0.57
0.41
125
0.59
23.89
0.11
0.64
S32
Ag-Pb-Zn
ZK83S320009
240.61
241.24
411
0.63
0.53
151
0.96
0.18
0.04
0.01
S32
Ag-Pb-Zn
ZKDB10S16E201
268.45
269.00
627
0.55
0.44
195
6.19
0.28
0.03
0.01
S16E2
Ag-Pb-Zn
ZKDB16AS2102
151.99
153.11
647
1.12
0.66
217
6.10
1.83
0.05
0.06
S21
Ag-Pb-Zn
ZKDB16AS2102
190.38
190.90
614
0.52
0.35
218
1.02
7.47
0.05
0.09
S21W
Ag-Pb-Zn
ZKDB19AS802
106.43
107.16
671
0.73
0.65
94
13.86
1.23
0.03
0.03
S8W
Ag-Pb-Zn
ZKDB19AS803
117.42
117.96
670
0.54
0.53
516
19.80
8.27
0.02
0.09
S8
Ag-Pb-Zn
ZKDB19AS804
173.86
175.37
599
1.51
1.24
1
0.01
0.01
3.19
0.01
S8E1
Au-Ag
ZKDB20S8001
83.25
84.78
766
1.53
1.17
169
0.04
0.05
0.03
0.03
S8W1
Ag-Pb-Zn
ZKDB23AS801
219.24
220.32
616
1.08
0.73
165
1.67
0.07
0.03
0.02
S8
Ag-Pb-Zn
ZKDB25S802
171.47
172.35
674
0.88
0.72
274
8.33
0.11
0.03
0.04
S8E
Ag-Pb-Zn
ZKDB25S803
194.94
195.77
668
0.83
0.71
25
8.46
0.16
0.03
0.00
S8
Ag-Pb-Zn
ZKDB28AS1101
395.38
396.07
569
0.69
0.68
43
4.92
0.08
2.32
0.08
S11E
Au-Ag
ZKDB30AS1101
235.93
236.61
730
0.68
0.49
16
0.25
0.06
2.24
0.02
S11
Au-Ag
ZKDB30AS16W601
60.38
62.40
507
2.02
0.53
38
0.75
4.59
0.39
0.02
S14Ea
Ag-Pb-Zn
ZKDB30S1401
145.63
147.12
441
1.49
1.47
47
2.08
5.82
0.05
0.02
S16W
Ag-Pb-Zn
ZKDB54S16W001
188.98
192.45
648
3.47
2.54
79
1.33
1.02
0.07
0.01
S16W
Au-Ag
ZKDB58S16W001
87.99
89.46
740
1.47
0.73
91
0.67
13.45
0.02
0.04
S16E2
Ag-Pb-Zn
ZKDB58S16W001
208.39
209.24
638
0.85
0.56
44
0.39
6.39
0.03
0.04
S16W
Ag-Pb-Zn
ZKDB6AS2101
170.52
171.77
661
1.25
0.51
641
2.06
4.05
0.06
0.10
S21
Ag-Pb-Zn
ZKDB6S701
106.50
110.56
670
4.06
3.13
191
9.78
0.65
0.05
0.04
S7
Ag-Pb-Zn
ZKDB6S701
207.68
208.22
617
0.54
0.42
101
0.16
8.78
0.05
0.04
S7_2a
Ag-Pb-Zn
ZKDB6S703
271.84
272.94
622
1.10
0.83
118
4.36
2.54
0.05
0.02
S7
Ag-Pb-Zn
ZKDB8AS16E201
385.89
386.61
581
0.72
0.62
17
4.80
0.84
0.03
0.01
S16W
Ag-Pb-Zn
ZKDB8AS21W02
301.27
302.71
636
1.44
1.23
188
11.70
0.53
0.03
0.04
S21
Ag-Pb-Zn
ZKDB8AS21W02
320.77
321.31
624
0.54
0.49
121
2.26
0.20
0.03
0.02
S21W
Ag-Pb-Zn
1
New unnamed veins
Tunneling Programs at the SGX Mine
A total of
6,207 m
of exploration tunnels were developed at the SGX mine during this period. The exploration tunneling, comprised of drifting, cross-cutting and
raising, was driven along and across major mineralized vein structures to upgrade the drill-defined mineral resources, and to test for new parallel and splay
structures (Tables 2 and 3).
Table 2: Summary of the tunneling programs at the SGX mine
Major Target Veins
Elevation
(m)
Total Tunneling
(m)
Channel Samples Collected
Drift Included
Total Mineralization Exposed by Drifts
[1]
Length
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
S2W2, S2W2a, S2, S4E, S6, S7, S7_1, S7_2, S7_2a3, S7E3, S7W1, S8, S8E, S8W1, S8W2, S14_1, S14, S16W1, S16E2, S18E, S19, S32, S33,
S35,
60 - 640
6,207
2,471
3,535
1,467
0.69
366
5.28
3.02
1
Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 135 g/t at the SGX mine
(Formula used for AgEq calculation: AgEq = Ag g/t + 64.72 * Au g/t + 34.26 * Pb% + 19.08 * Zn%).
Table 3: Selected mineralized zones exposed by drift tunneling at the SGX mine
Tunnel ID
Vein
Elevation
(m)
Ore Length
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
CM105-S14-287-14QGX
S14
287
45
0.48
162
1.64
2.93
PD16-S14-60-4ASYM
S14
60
20
0.35
711
11.79
2.97
CM105-S16E-400-12NYM
S16E
400
25
0.68
1,208
9.54
1.35
CM102-S16W1-540-53SYM
S16W1
540
13
0.35
1,043
13.72
11.32
CM102-S16W1-545-53NYM
S16W1
545
60
0.49
210
5.35
6.28
CM105-S18E2-350-14ANYM
S18E2
350
15
0.45
394
2.25
5.91
XPD-S19-110-5QGX
S19
110
60
0.83
60
4.03
1.69
PD700-S19-590-13AQGX
S19
590
20
0.62
429
2.48
8.35
XPD-S19-160-5AQGX
S19
160
105
1.43
421
7.78
1.22
CM102-S19-534-4QGX
S19
534
35
1.04
157
4.88
5.76
CM101-S19-110-6ASYM
S19
110
50
0.84
190
3.81
0.74
XPD-S19-210-11AXB_QGX
S19
230
15
0.78
162
3.20
2.13
XPD-S19E-210-15AYMQGX
S19
210
20
0.46
284
3.99
6.13
XPD-S19-210-9SMWX
S19a1
210
35
0.60
327
4.58
1.97
CM105-S2SJ-S1W2-220-12ANYM
S1W2
220
20
0.63
1,143
5.86
11.12
CM105-S2SJ-S1W5-220-12ANYM
S1W5
220
10
1.42
351
2.00
7.03
PD16-S2-160-4ANYM
S2
160
65
0.85
323
9.65
3.07
CM105-S2SJ-S2-100-12ANYM
S2
100
70
0.75
613
6.48
1.74
CM105-S2SJ-S2-300-14ATJQGX
S2
310
19
0.62
164
5.60
1.97
PD16-S2-210-4ANYM
S2
210
15
0.65
217
4.95
6.60
PD16-S2-210-4ANYM
S2
210
15
0.80
644
8.66
3.88
CM105-S2SJ-S2W2-100-12ANYM
S2W2
100
35
0.78
153
0.37
3.16
CM105-S2SJ-S2W2-100-12ASYM
S2W2
100
55
1.46
488
11.46
0.76
CM102-S32-440-65SYM
S32
440
60
0.74
446
7.10
0.83
CM105-S33-400-10NYM
S33
400
20
0.36
335
4.24
4.24
CM105-S33-400-10SYM
S33
400
40
0.65
342
2.95
4.35
PD16-S6-160-4ANYM
S6
160
25
0.49
624
15.00
1.90
PD16-S6-160-4ASYM
S6
160
50
0.71
455
5.47
3.52
CM105-S2SJ-S6-220-16NYM
S6
220
40
0.75
257
2.09
1.90
PD16-S6-110-4ANYM
S6
110
30
1.02
404
12.97
2.31
CM105-S7-210-14SYM-LLD1-STOPE_QGX
S7
210
40
1.05
75
3.10
2.47
CM101-S7_1-110-2ASYM
S7_1
110
25
0.60
427
6.13
0.41
PD700-S7_2-530-9SYM
S7_2
530
45
0.44
61
3.22
4.35
CM105-S7E3-260-6NYM
S7E3
260
15
0.87
80
1.51
4.25
PD700-S8-570-19ASMW
S8
570
10
0.89
743
8.42
0.21
XPD-S8E-260-15YMQGX
S8E
260
75
0.95
657
3.96
0.64
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 in
Tianjin, China
. All three labs are ISO9000 certified analytical labs. For
analysis, the sample is dried and crushed to minus 1 mm and then split into a 200-300 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
5 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 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 1 mm is made and kept in the laboratory archives. Gold is analysed 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 3-5% 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
, P. Geo., Manager of Exploration and Resource of the Company, is the Qualified Person for Silvercorp under NI 43-101 and has reviewed and given
consent to the technical information contained in this news release.
About Silvercorp
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' wellbeing, and sustainable development. For more information, please visit our website at
www.silvercorp.ca
.
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial
securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is
expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: the price of silver
and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production
from the Company's mines in the Ying Mining District; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and
development of the Company's properties.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, social and
economic impacts of COVID-19; risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and
development programs; feasibility and engineering reports; permits and licenses; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company;
timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada;
environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal
control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future
events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31,
2021 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers
should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to
update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place
undue reliance on forward-looking statements and information.
CAUTIONARY NOTE TO US INVESTORS
The disclosure in this news release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "proven mineral reserve", "probable mineral reserve" and
"mineral reserves" used in this news release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained in
this news release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "Inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of
limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted
to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or
pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the
SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities
Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the
adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources". In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral
Reserves" to be substantially similar to corresponding definitions under the CIM Definition Standards. During the period leading up to the compliance date of the SEC Modernization Rules, information regarding mineral resources or reserves contained or referenced in this news
release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences
between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated
mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.
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SOURCE
Silvercorp Metals Inc
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For further information:
Lon Shaver, Vice President, Silvercorp Metals Inc., Phone: (604) 669-9397, Toll Free: 1 (888) 224-1881, Email:
[email protected], Website: www.silvercorpmetals.com
CO: Silvercorp Metals Inc
CNW 06:55e 24-JAN-22