Silvercorp Reports 2021 Drilling at Tlp MINE Hits Multiple High-Grade Silver and GOLD Zones Trading Symbol
SILVERCORP REPORTS 2021 DRILLING AT TLP MINE HITS
MULTIPLE HIGH-GRADE SILVER AND GOLD ZONES
Trading Symbol
TSX: SVM
NYSE American: SVM
VANCOUVER, BC
,
Jan. 27, 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 TLP mine. Extensive exploration drilling and tunneling are ongoing at
the TLP mine and all other mines in the Ying Mining District,
Henan Province
,
China
.
From
June 1 to December 31, 2021
, 43,573 metres ("m") from a total of 276 diamond drill holes, including 218 underground holes and 58 surface
holes, were completed at the TLP mine. Assay results for 270 holes have been received, with 202 holes intercepting mineralization. The Company
also received assay results for 35 holes pending from the previous drilling program at the TLP mine from
October 1, 2020
to
May 31, 2021
disclosed
in the Company's news release dated
June 1, 2021
. Currently, there are 13 rigs drilling at the TLP 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 to easily obtain ore; 2) drill for high-grade silver-lead-zinc veins within
the resource area; 3) drill for silver-lead-zinc veins in the resource area at higher elevations near the surface where there are limited drill holes from
previous drilling programs; and 4) drill for high-grade silver-lead-zinc veins at the northwest side of the resource area to expand the resources.
Drilling Above or Beneath Previously Mined Stopes
Most holes drilled during the 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 southwest-striking T15 series, T16 series, T17W, T11, T20, T21, T30, T3 series, T4 series, T5 series, T1, and T2, and the
north-northwest-striking T14 series, T22, T28, and T31 series. Drilling discovered additional splay and parallel vein structures T16E3, T4E, T4W,
T5E2, and T5a. This drilling has resulted in a significant amount of upgraded resources for near-term mine planning and production. Since access
tunnels are already in place, the upgraded high-grade resource blocks can quickly be converted to reserves and mined.
Highlights of the high-grade intercepts at the TLP mine:
Underground h
ole ZKG0712
intersected a
1.36 m
interval (
1.03 m
true width) of vein T11 grading 2,042 grams per tonne ("g/t") silver ("Ag"),
36.86% lead ("Pb"), 6.73% zinc ("Zn"), 0.43 g/t gold ("Au"), and 0.83% copper ("Cu") from
211.32 m
depth, at an elevation of
632 m
;
Underground hole ZKG4T1601
intersected a
4.03 m
interval (
2.27 m
true width) of vein T16 grading 1,003 g/t Ag, 8.93% Pb, 0.83% Zn, 0.16
g/t Au, and 0.10% Cu from
79.56 m
depth, at an elevation of
762 m
;
Underground hole ZKG0305
intersected a
1.11 m
interval (
1.11 m
true width) of vein T15W grading 1,597 g/t Ag, 14.71% Pb, 0.39% Zn, 0.08
g/t Au, and 0.41% Cu from
44.89 m
depth, at an elevation of
782 m
;
Underground hole ZKT0210
intersected a
3.59 m
interval (
3.57 m
true width) of vein T3 grading 581 g/t Ag, 8.83% Pb, 0.63% Zn, 0.05 g/t Au,
and 0.05% Cu from
250.35 m
depth, at an elevation of
787 m
; and
Underground hole ZKG0832
intersected a
1.40 m
interval (
0.95 m
true width) of vein T15W grading 994 g/t Ag, 29.33% Pb, 0.77% Zn, 0.05
g/t Au, and 0.11% Cu from
70.64 m
depth, at an elevation of
810 m
.
Drilling Silver-Lead-Zinc Veins within the Resource Area Intersected Unexpected High-Grade Gold Veins
Drilling intersected two types of gold mineralization in gold-silver-lead-zinc veins and gold veins, respectively. The former is thought to be formed by
gold mineralization in the vein structures which was then overprinted by silver-lead-zinc mineralization with quartz-sericite alteration. Most of this type
of gold mineralization occurs at elevations between
700 m
and
760 m
. The latter mineralization is predominantly composed of gold with no or low
silver-lead-zinc mineralization in shear structures associated with quartz-ankerite alteration at higher elevations above
830 m
.
Highlights of the high-grade gold and gold-silver-lead-zinc intercepts within the TLP resource area:
Surface hole ZKTDB3504
intersected a
1.46 m
interval (true width unknown) of an unknown gold vein grading 8 g/t Ag, 0.02% Pb, 0.02% Zn,
13.96 g/t Au, and 0.01% Cu from
91.12 m
depth, at an elevation of
909 m
;
Underground hole ZKT0016
intersected a
1.01 m
interval (
0.79 m
true width) of gold vein T1W grading 12 g/t Ag, 0.12% Pb, 0.02% Zn, 13.91
g/t Au, and 0.01% Cu from
95.26 m
depth, at an elevation of
861 m
;
Underground hole ZKT1124
intersected a
2.04 m
interval (
1.70 m
true width) of vein T2 grading 281 g/t Ag, 3.32% Pb, 0.52% Zn, 6.83 g/t Au,
and 0.59% Cu from
56.78 m
depth, at an elevation of
749 m
; and
Underground hole ZKT1351
intersected a
1.31 m
interval (
0.88 m
true width) of vein T1W1 grading 7 g/t Ag, 0.02% Pb, 0.03% Zn, 6.09 g/t
Au, and 0.01% Cu from
97.95 m
depth, at an elevation of
836 m
.
Near Surface Silver-Lead-Zinc Veins Intersected by Surface and Underground Drilling within the TLP Resource Area
Surface and underground diamond drilling tested certain blocks near the surface in the central and northeast parts of the TLP resource area, and
intersected high-grade silver-lead-zinc veins T1, T2, T3 series, T4, T5, and T20. The surface holes also intersected thick mineralization in T2 and T3.
Surface hole ZKTDB0605, for instance, intersected vein T3 with a true width of
7.44 m
. The purpose of this drilling is to extend the resources to
higher elevations within the current resource area. The aforementioned drilling also discovered T5E2, a splay and parallel vein to T5.
Highlights of the high-grade/thick silver-lead-zinc intercepts near surface at the TLP mine:
Surface hole ZKTDB2001
intersected a
0.87 m
interval (
0.82 m
true width) of vein T3 grading 2,871 g/t Ag, 2.47% Pb, 0.79% Zn, 0.05 g/t Au,
and 1.63% Cu from
157.40 m
depth, at an elevation of
1,027 m
;
Surface hole ZKTDB0608
intersected a
3.38 m
interval (
1.42 m
true width) of vein T2W2 grading 1,052 g/t Ag, 4.38% Pb, 0.14% Zn, 0.05 g/t
Au, and 0.10% Cu from
164.11 m
depth, at an elevation of
1,075 m
;
Surface hole ZKTDB0605
intersected a
9.45 m
interval (
7.44 m
true width) of vein T3 grading 168 g/t Ag, 1.41% Pb, 0.18% Zn, 0.05 g/t Au,
and 0.02% Cu from
25.96 m
depth, at an elevation of
1,144 m
;
Surface hole ZKTDB0601
intersected a
7.23 m
interval (
6.81 m
true width) of vein T2 grading 133 g/t Ag, 2.63% Pb, 0.11% Zn, 0.02 g/t Au,
and 0.01% Cu from
19.16 m
depth, at an elevation of
1,151 m
; and
Underground hole ZKT0442
intersected a
29.93 m
interval (
24.51 m
true width) of vein T1W1 grading 104 g/t Ag, 1.35% Pb, 0.27% Zn, 0.05
g/t Au, and 0.02% Cu from
26.72 m
depth, at an elevation of
862 m
.
Drilling Intersected High-Grade Silver-Lead-Zinc Veins at the Northwest Side of the Resource Area
At the northwest side of the resource area, drilling intersected high-grade silver-lead-zinc vein T33, and its parallel vein T33W3. This drilling is to
support the Company's strategy to expand the resources laterally.
Table 1: Assay results for 146 drill holes from the TLP mine
Hold ID
From
(m)
To
(m)
Elevation
(m)
Interval
(m)
True
Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
Vein
ZKG0129
66.86
67.74
925
0.88
0.87
405
2.12
1.84
0.03
0.03
T16E
ZKG0302
85.58
88.70
730
3.12
2.30
235
2.34
0.28
0.08
0.04
T11
ZKG0303
62.11
62.89
779
0.78
0.72
190
0.49
0.08
0.12
0.02
T11
ZKG0305
44.89
46.00
782
1.11
1.11
1,597
14.71
0.39
0.08
0.41
T15W
ZKG0316
100.52
102.76
710
2.24
1.78
337
4.06
1.29
0.27
0.11
T11
ZKG0316
112.42
113.05
699
0.63
0.47
486
0.54
0.09
0.53
0.03
T11E1
ZKG0316
112.42
113.05
699
0.63
0.47
486
0.54
0.09
0.53
0.03
T11E1
ZKG0317
62.54
64.03
752
1.49
1.37
164
1.74
0.26
0.05
0.05
T15W
ZKG0334
173.55
174.22
629
0.67
0.66
1,608
8.25
1.41
0.11
0.08
T16
ZKG0335
248.22
249.14
619
0.92
0.70
240
15.94
1.12
0.04
0.16
T15W
ZKG0337
285.40
286.16
563
0.76
0.62
75
5.92
0.14
0.02
0.14
T14E
ZKG0339
40.05
41.35
623
1.30
1.09
444
0.16
0.09
0.37
0.01
T17W
ZKG0341
34.57
35.21
629
0.64
0.56
154
0.45
0.26
0.03
0.02
T17W
ZKG0341
110.44
111.18
582
0.74
0.62
81
1.87
0.12
0.27
0.04
T14
ZKG0342
41.58
42.10
624
0.52
0.42
2,369
2.54
1.36
3.37
0.09
T17W
ZKG0346
80.47
81.58
610
1.11
0.96
51
2.12
0.14
0.05
0.05
T15W4
ZKG0702
202.87
203.58
635
0.71
0.66
130
8.39
0.94
0.53
0.18
T11
ZKG0703
18.03
19.54
780
1.51
1.50
216
2.08
0.73
0.07
0.02
T16
ZKG0706
164.75
165.27
680
0.52
0.50
126
2.90
0.44
0.10
0.06
T14E
ZKG0712
211.32
212.68
632
1.36
1.03
2,042
36.86
6.73
0.43
0.83
T11
ZKG0813
49.46
50.76
789
1.30
1.00
240
1.38
0.58
0.05
0.08
T11
ZKG0715
170.81
171.47
723
0.66
0.53
641
1.51
0.97
0.72
0.10
T11
ZKG0814
35.87
37.12
791
1.25
1.14
154
1.86
0.20
0.05
0.03
T15
ZKG0814
52.19
52.89
787
0.70
0.65
187
0.09
0.05
0.05
0.02
T11
ZKG0828
112.88
113.49
956
0.61
0.33
934
7.81
0.82
0.02
0.33
T4
ZKG0830
86.63
88.33
956
1.70
1.18
328
1.89
0.06
0.05
0.07
T5
ZKG0832
70.64
72.04
810
1.40
0.95
994
29.33
0.77
0.05
0.11
T15W
ZKG0833
13.79
14.72
827
0.93
0.72
40
3.24
0.71
0.03
0.01
T11
ZKG0833
78.14
79.18
812
1.04
0.75
695
10.91
1.09
0.03
0.12
T15W3
ZKG0841
24.32
24.86
830
0.54
0.54
308
1.59
0.44
0.05
0.01
T16E3
[1]
ZKG0841
88.09
88.63
807
0.54
0.54
100
2.38
0.34
0.05
0.01
T14E
ZKG0843
44.97
49.65
823
4.68
4.67
264
3.34
0.16
0.05
0.05
T16E2
ZKG0843
53.68
54.63
820
0.95
0.93
118
0.74
0.08
0.05
0.02
T15W1
ZKG0843
83.02
83.97
809
0.95
0.94
151
0.78
0.30
0.05
0.02
T14E
ZKG0845
47.95
48.49
825
0.54
0.53
591
1.10
0.48
0.02
0.06
T15W1
ZKG0943
167.89
169.91
681
2.02
0.41
244
8.54
0.64
0.32
0.09
T14E
ZKG0944
172.45
173.04
680
0.59
0.56
87
10.48
1.17
0.12
0.05
T14E
ZKG1017
3.46
4.54
955
1.08
0.68
331
0.51
0.35
0.05
0.05
T16E
ZKG1018
7.71
8.67
955
0.96
0.96
660
1.24
0.32
0.05
0.05
T16E
ZKG1018
57.29
57.91
946
0.62
0.61
171
1.63
0.20
0.05
0.04
T16
ZKG1019
18.36
19.06
954
0.70
0.56
2,744
4.50
0.95
0.03
0.27
T16E
ZKG1020
1.86
2.45
955
0.59
0.53
233
0.50
0.63
0.02
0.05
T16E1
ZKG1020
86.85
88.58
915
1.73
1.64
133
1.43
0.23
0.02
0.04
T15W
ZKG1021
2.49
3.18
954
0.69
0.67
841
4.07
1.70
0.03
0.14
T16E1
ZKG1021
82.88
83.53
915
0.65
0.65
659
6.69
0.42
0.03
0.04
T15W3
ZKG1416
78.17
79.37
914
1.20
0.96
65
1.77
0.23
0.05
0.02
T15W
ZKG1417
75.43
76.89
930
1.46
1.12
459
0.66
0.08
0.14
0.13
T15W
ZKG1417
141.45
142.13
906
0.68
0.51
172
1.12
0.62
0.05
0.01
T11E
ZKG1425
116.03
117.06
948
1.03
0.53
53
5.60
0.14
0.03
0.01
T15
ZKG1805
13.32
15.06
833
1.74
1.00
118
0.85
0.10
0.05
0.03
T11E4
ZKG1805
202.36
203.05
787
0.69
0.40
172
2.04
0.75
0.05
0.04
T17
ZKG1805
281.67
282.46
768
0.79
0.70
139
0.81
0.32
0.05
0.05
T22Ea
ZKG1806
285.68
287.26
715
1.58
0.81
1,898
8.02
2.19
0.05
0.49
T22E
ZKG1806
292.38
293.54
712
1.16
1.03
108
2.28
0.27
0.02
0.02
T22E1
ZKG1807
243.27
243.89
773
0.62
0.62
108
1.28
0.43
0.03
0.25
T16
ZKG4T1601
79.56
83.59
762
4.03
2.27
1,003
8.93
0.83
0.16
0.10
T16
incl
80.28
81.54
761
1.26
0.71
2,631
20.80
1.89
0.36
0.26
T16
ZKT0015
65.82
67.35
872
1.53
1.08
77
1.89
0.10
0.07
0.02
T3
ZKT0015
71.25
72.64
870
1.39
0.98
949
0.61
0.17
0.04
0.05
T22
ZKT0016
95.26
96.27
861
1.01
0.79
12
0.12
0.02
13.91
0.01
T1W
ZKT0210
77.67
78.45
860
0.78
0.77
725
0.47
0.10
0.33
0.17
T1W1
ZKT0210
250.35
253.94
787
3.59
3.57
581
8.83
0.63
0.05
0.05
T3
ZKT0336
49.08
50.63
1,010
1.55
1.54
108
1.05
0.13
0.05
0.03
T3E
ZKT0344
57.18
61.17
981
3.99
0.63
130
0.87
0.05
0.03
0.02
T3E
ZKT0424
98.15
99.82
805
1.67
1.32
67
1.72
0.18
0.03
0.16
T1W1
ZKT0427
141.82
142.41
916
0.59
0.51
1,794
0.19
0.06
0.13
0.28
T33
ZKT0431
3.94
4.85
891
0.91
0.85
88
1.02
0.08
0.03
0.01
T23
ZKT0433
36.77
37.67
873
0.90
0.86
134
0.96
0.41
0.05
0.02
T23a
ZKT0433
122.92
125.61
829
2.69
2.05
174
0.76
0.47
0.08
0.07
T26
ZKT0442
26.72
56.65
862
29.93
24.51
104
1.35
0.27
0.05
0.02
T1W1
ZKT0443
0.00
2.01
898
2.01
0.49
183
0.72
0.16
0.05
0.03
T28
ZKT04T2801
141.74
143.47
878
1.73
1.72
751
3.36
0.40
0.07
0.25
T28
ZKT04T2802
137.53
138.50
864
0.97
0.73
41
2.80
0.26
0.05
0.01
T28
ZKT04T2803
127.27
128.40
876
1.13
0.85
90
1.35
0.08
0.03
0.04
T1W1
ZKT0811
2.74
3.68
897
0.94
0.88
141
0.12
0.25
0.05
0.02
T1W1
ZKT09C10
199.23
199.74
898
0.51
0.45
393
0.75
0.04
0.02
0.07
T35E1
ZKT1103
97.07
99.09
746
2.02
1.84
154
5.95
0.91
0.27
0.42
T3E
incl
97.07
97.58
746
0.51
0.46
467
18.46
3.25
0.88
1.34
T3E
ZKT1104
60.32
61.50
751
1.18
1.09
267
0.34
0.13
0.05
0.01
T2
ZKT1107
53.00
59.13
740
6.13
5.69
51
3.75
0.26
0.92
0.56
T2
incl
55.66
56.34
739
0.68
0.63
128
17.94
0.73
4.96
2.01
T2
ZKT1108
59.36
61.67
754
2.31
1.71
153
3.77
0.29
0.65
0.48
T2
ZKT1108
82.28
84.34
752
2.06
1.55
57
16.77
0.10
0.08
0.06
T3
ZKT1108
86.96
88.34
752
1.38
1.04
38
4.26
0.17
0.10
0.19
T3E
ZKT1108
112.81
114.02
749
1.21
0.72
287
21.83
0.61
0.99
0.22
T4
ZKT1109
61.36
62.79
773
1.43
0.97
28
2.26
0.08
0.10
0.50
T2
ZKT1110
57.79
59.42
738
1.63
1.40
62
1.18
0.08
0.11
0.75
T2
ZKT1111
68.23
70.58
736
2.35
1.75
89
4.52
0.27
0.43
0.91
T2
ZKT1111
97.17
99.98
727
2.81
2.09
351
7.42
1.90
0.60
0.73
T3E
ZKT1111
139.15
140.05
712
0.90
0.66
318
33.03
1.11
0.05
2.19
T5
ZKT1112
44.52
45.50
762
0.98
0.79
178
0.86
0.03
0.70
0.03
T2W
ZKT1113
50.36
52.22
735
1.86
1.50
22
3.21
0.07
0.12
0.32
T2
ZKT1113
96.54
97.74
713
1.20
0.97
68
0.08
0.12
0.13
1.43
T3E
ZKT1114
89.63
92.52
697
2.89
2.52
56
0.94
0.08
0.46
1.56
T3
ZKT1114
99.92
101.25
691
1.33
1.12
33
6.77
0.75
0.10
0.20
T3E
ZKT1122
73.53
74.54
698
1.01
0.85
81
1.28
0.09
0.19
0.98
T2
ZKT1123
95.68
96.79
671
1.11
0.83
25
3.04
0.03
0.21
0.14
T2
ZKT1124
56.78
58.82
749
2.04
1.70
281
3.32
0.52
6.83
0.59
T2
ZKT1124
87.99
88.50
744
0.51
0.42
400
4.05
0.45
0.51
0.13
T3
ZKT1124
93.98
94.89
743
0.91
0.78
64
1.61
0.19
0.10
0.05
T3E
ZKT1125
80.24
101.56
730
21.32
13.48
92
1.62
0.64
0.47
0.47
T3
ZKT1309
115.54
116.44
730
0.90
0.86
332
0.39
0.05
0.12
0.03
T2W
ZKT1309
130.89
135.14
723
4.25
4.06
126
3.67
0.45
0.32
0.66
T2
incl
131.72
132.76
725
1.04
0.99
814
10.47
0.15
2.41
2.04
T2
ZKT1310
137.12
140.82
724
3.70
3.44
285
6.77
1.07
0.41
0.90
T2
incl
138.96
140.82
724
1.86
1.73
515
12.66
1.90
0.69
1.73
T2
ZKT1310
169.66
170.54
716
0.88
0.82
93
0.95
0.12
0.05
0.03
T4
ZKT1311
141.70
143.34
728
1.64
1.58
172
1.91
0.16
0.48
1.78
T3
ZKT1312
54.90
55.92
742
1.02
1.00
137
0.14
0.28
0.05
0.06
T1
ZKT1312
140.06
142.06
714
2.00
1.60
96
0.65
0.27
0.37
0.60
T3
ZKT1312
169.37
170.91
704
1.54
1.40
58
1.98
0.13
0.08
0.36
T3E
ZKT1345
177.09
177.67
803
0.58
0.44
130
2.99
0.05
0.05
0.01
T16
ZKT1346
174.81
175.49
808
0.68
0.55
316
0.57
1.61
0.10
0.03
T16
ZKT1350
87.27
87.87
788
0.60
0.58
160
0.54
0.17
0.03
0.06
T22
ZKT1350
131.91
132.46
780
0.55
0.47
808
1.07
1.27
0.13
0.10
T2W
ZKT1351
97.95
99.26
836
1.31
0.88
7
0.02
0.03
6.09
0.01
T1W1
ZKT2102A
139.95
141.31
862
1.36
1.15
281
0.87
0.30
0.03
0.61
T14E
ZKT2124
71.74
72.54
820
0.80
0.79
241
2.60
0.18
0.05
0.04
T14
ZKT21T39E01
28.18
28.89
835
0.71
0.57
410
0.65
0.34
0.03
0.12
T38
ZKT2917
152.87
153.41
786
0.54
0.52
640
0.06
0.05
0.05
0.01
T39E2
ZKT2919
184.01
185.72
731
1.71
1.55
180
2.65
0.50
0.07
0.02
T39W
ZKT3109
9.32
9.91
797
0.59
0.53
148
1.74
0.08
0.08
0.01
T14E
ZKT3109
66.04
66.94
788
0.90
0.85
73
4.44
0.10
0.07
0.10
T21
ZKT3110
27.29
28.18
784
0.89
0.85
29
4.27
0.30
0.03
0.16
T14E
ZKT3111
8.69
9.34
797
0.65
0.51
21
14.23
0.63
0.05
0.01
T5
ZKT3112
53.51
54.12
770
0.61
0.40
87
2.33
0.27
0.05
3.45
T21
ZKT3710
29.13
30.64
796
1.51
0.93
105
0.27
0.75
0.69
0.05
T4
ZKT3710
42.45
43.65
795
1.20
0.94
97
1.77
0.22
0.80
0.06
T5
ZKT3712
33.97
34.82
781
0.85
0.59
111
0.19
0.77
0.68
0.02
T30
ZKT3712
79.51
80.27
759
0.76
0.58
71
9.08
0.16
0.21
0.07
T21
ZKT3727
57.25
58.09
768
0.84
0.76
39
3.30
0.11
0.17
0.01
T5
ZKT3727
87.68
88.98
752
1.30
0.87
318
0.93
0.72
4.92
0.09
T21
ZKT3728
25.83
26.43
796
0.60
0.53
298
0.33
0.06
0.14
0.02
T4
ZKT3728
29.79
30.48
796
0.69
0.61
150
0.73
0.20
0.13
0.03
T4E
[1]
ZKT3728
57.58
59.25
793
1.67
1.55
389
8.98
0.58
0.13
0.03
T5
incl
58.17
59.25
793
1.08
0.89
596
13.23
0.82
0.18
0.04
T5
ZKT3729
0.00
1.08
798
1.08
1.05
323
0.18
0.15
0.10
0.02
N/A
[2]
ZKT3729
6.54
7.92
795
1.38
1.27
448
0.89
0.86
0.58
0.07
T30
ZKT3729
75.89
79.92
763
4.03
3.92
38
2.19
0.13
0.07
0.02
T21
ZKT3732
0.00
1.68
798
1.68
1.42
389
0.53
0.22
0.10
0.05
T30
ZKT3732
82.75
83.92
741
1.17
0.68
58
2.80
0.17
0.13
0.03
T21
ZKT3733
2.18
2.83
796
0.65
0.61
188
0.27
0.38
0.07
0.03
T30
ZKT3734
34.72
36.55
809
1.83
0.86
108
0.25
0.17
0.99
0.02
T4
ZKT3735
3.90
4.68
798
0.78
0.61
163
0.17
0.38
0.17
0.03
T30
ZKT3736
13.69
16.11
803
2.42
1.33
435
0.31
0.23
0.04
0.01
T4W
[1]
ZKT3736
43.48
45.01
811
1.53
0.84
164
0.37
0.40
0.92
0.04
T4E
ZKT4123
17.16
18.22
741
1.06
0.72
18
6.47
1.05
0.12
0.01
T20
ZKT4123
23.66
24.51
736
0.85
0.58
193
5.47
0.10
1.35
0.22
T3E
ZKT4123
51.09
54.44
714
3.35
1.69
27
3.21
0.25
0.21
0.09
T30
ZKT4311
41.66
42.58
737
0.92
0.84
40
4.66
0.26
0.15
0.62
T4
ZKT4313
0.00
4.29
756
4.29
4.06
150
3.25
0.08
0.16
0.13
T2
ZKT4315
5.99
7.07
754
1.08
0.75
70
1.41
0.09
0.20
0.06
T2
ZKT4505
14.56
15.36
752
0.80
0.74
96
2.98
0.06
4.03
0.06
T20
ZKT4505
83.27
84.09
736
0.82
0.60
90
0.66
0.82
0.73
0.04
T5a
[1]
ZKT4505
87.00
90.95
735
3.95
2.89
45
1.59
0.45
0.77
0.03
T5
ZKT4506
14.60
15.29
745
0.69
0.55
28
7.07
0.03
0.18
0.10
T20
ZKT4506
36.73
38.26
728
1.53
1.21
317
24.24
0.16
0.31
0.91
T3E
ZKT4507
0.00
5.55
757
5.55
4.71
114
3.10
0.09
0.12
0.22
T2
ZKT4507
47.23
47.77
766
0.54
0.30
19
0.27
0.09
3.45
0.04
T23W
ZKT4507
53.22
57.35
768
4.13
2.31
23
0.37
0.12
2.20
0.02
T1W
ZKT4508
1.50
4.79
755
3.29
2.02
51
2.00
0.07
0.10
0.05
T2
ZKT4508
65.17
67.13
737
1.96
0.99
118
4.23
0.05
0.07
0.01
T1W
ZKT4518
13.54
14.23
749
0.69
0.65
40
2.33
0.06
0.67
0.05
T20
ZKT4518
41.87
42.79
738
0.92
0.79
16
2.90
0.08
0.04
0.08
T3E
ZKT4519
16.30
16.89
755
0.59
0.55
49
3.96
0.61
0.04
0.08
T20
ZKT4519
40.77
41.70
754
0.93
0.65
79
21.48
0.12
0.07
0.06
T31
ZKT4519
81.92
82.67
753
0.75
0.50
87
0.29
0.46
1.32
0.09
T5
ZKT4519
106.80
107.41
752
0.61
0.44
20
9.81
0.14
0.09
0.01
T21
ZKT4520
28.50
31.59
762
3.09
2.16
131
4.92
0.19
0.33
0.05
T3E
ZKT4520
77.24
78.09
772
0.85
0.42
111
7.94
0.36
0.15
0.08
T5
ZKT7T1403
118.46
119.83
1,033
1.37
1.11
71
1.65
0.13
0.03
0.02
T14
ZKT7T3E03
94.31
94.97
1,064
0.66
0.31
299
0.41
0.10
0.03
0.14
T3E
ZKT7T501
103.63
105.95
1,049
2.32
0.88
328
7.54
0.25
0.06
0.03
T14
incl
104.34
105.02
1,048
0.68
0.26
1,066
23.29
0.51
0.10
0.09
T14
ZKTDB0302
83.23
83.72
1,062
0.49
0.41
441
35.27
0.20
0.06
0.18
T1W1
ZKTDB0302
102.35
103.08
1,047
0.73
0.64
124
6.29
0.07
0.05
0.01
T1W
ZKTDB0402
165.97
167.94
1,087
0.82
1.72
476
2.02
0.63
0.03
0.04
T4
ZKTDB0402
169.56
173.35
1,085
1.28
3.66
293
2.22
0.29
0.02
0.09
T2W2
ZKTDB0601
19.16
26.39
1,151
7.23
6.81
133
2.63
0.11
0.02
0.01
T2
ZKTDB0601
42.89
46.49
1,138
3.60
3.40
121
2.28
0.13
0.14
0.04
T3E
ZKTDB0601
99.22
99.78
1,103
0.56
0.51
732
1.23
0.17
0.06
0.08
T4
ZKTDB0601
163.64
165.26
1,064
1.62
1.54
124
0.50
0.14
0.03
0.08
T5
ZKTDB0604
25.51
29.66
1,153
4.15
2.79
499
4.38
0.42
0.05
0.12
T2
ZKTDB0604
31.11
34.04
1,150
2.93
1.97
274
2.81
0.39
0.05
0.08
T3
ZKTDB0605
25.96
35.41
1,144
9.45
7.44
168
1.41
0.18
0.05
0.02
T3
ZKTDB0605
49.52
50.51
1,130
0.99
0.78
67
1.81
0.40
0.05
0.02
T3E
ZKTDB0605
185.57
186.54
1,036
0.97
0.83
12
3.50
0.07
0.05
0.01
T5
ZKTDB0607
23.50
28.01
1,147
4.51
4.03
107
0.55
0.10
0.05
0.01
T2
ZKTDB0607
30.19
35.44
1,141
5.25
4.70
72
3.08
0.08
0.05
0.02
T3
ZKTDB0607
46.99
47.71
1,130
0.72
0.64
126
0.58
0.16
0.05
0.01
T3E
ZKTDB0608
29.90
41.98
1,145
12.08
7.83
119
1.29
0.20
0.05
0.02
T3
ZKTDB0608
143.45
144.06
1,086
0.61
0.39
838
1.70
0.42
0.05
0.11
T4
ZKTDB0608
164.11
167.49
1,075
3.38
1.42
1,052
4.38
0.14
0.05
0.10
T2W2
ZKTDB0610
21.69
27.21
1,153
5.52
4.57
106
2.88
0.24
0.10
0.01
T2
ZKTDB0610
134.93
137.27
1,097
2.34
1.44
754
1.74
0.16
0.03
0.13
T4
ZKTDB0611
16.79
22.36
1,156
5.57
5.32
95
3.97
0.18
0.03
0.01
T2
ZKTDB0611
63.69
64.71
1,135
1.02
0.96
87
2.68
0.91
0.03
0.04
T3E2
ZKTDB1101
23.83
33.19
1,093
9.36
9.17
67
2.02
0.27
0.05
0.05
T3
ZKTDB1103
17.67
18.79
1,088
1.12
0.97
80
3.28
0.34
0.05
0.07
T2
ZKTDB1512
204.80
206.34
990
1.54
0.48
338
0.39
0.15
0.05
0.03
T33W3
ZKTDB1514
185.67
186.23
983
0.56
0.49
188
1.18
0.09
0.03
0.02
T2
ZKTDB2001
157.40
158.27
1,027
0.87
0.82
2,871
2.47
0.79
0.05
1.63
T3
ZKTDB2002
210.99
211.69
953
0.70
0.67
140
1.16
0.12
0.05
0.02
T3
ZKTDB2003
95.80
96.59
1,092
0.79
0.77
277
0.21
0.08
0.02
0.03
T2
ZKTDB2003
139.49
141.59
1,068
0.83
2.09
207
0.74
0.12
0.02
0.03
T3
ZKTDB3101
228.58
231.83
836
3.25
3.15
194
1.44
0.27
0.07
0.03
T5E1
ZKTDB3301
135.35
136.27
893
0.92
0.76
137
1.19
0.19
0.05
0.02
T4
ZKTDB3501
184.29
185.84
851
1.55
1.32
187
1.64
0.19
0.03
0.01
T31W
ZKTDB3501
197.22
198.17
841
0.95
0.81
76
3.71
0.81
0.03
0.00
T20
ZKTDB3502
113.29
113.96
873
0.67
0.60
250
0.50
0.08
0.04
0.02
T3E
ZKTDB3502
127.31
128.53
863
1.22
1.03
998
1.45
0.78
0.33
0.05
T4
ZKTDB3502
180.59
181.34
823
0.75
0.63
62
3.76
0.15
0.15
0.01
T5E2
[1]
ZKTDB3502
195.20
196.10
812
0.90
0.76
112
1.04
0.25
0.03
0.00
N/A
ZKTDB3502
199.99
200.85
809
0.86
0.73
154
0.65
0.19
0.45
0.03
N/A
ZKTDB3503
195.57
196.75
836
1.18
1.14
290
2.34
0.28
0.02
0.02
T31W1E
ZKTDB3503
213.60
214.16
825
0.56
0.52
356
3.69
0.21
0.03
0.01
T20
ZKTDB3504
91.12
92.58
909
1.46
N/A
[3]
8
0.02
0.02
13.96
0.01
N/A
[2]
ZKTDB3701
98.50
99.25
881
0.75
0.70
153
1.41
0.23
0.05
0.01
T2
ZKTDB3701
192.81
194.23
814
1.42
1.22
677
1.75
1.08
0.18
0.04
T20
ZKTDB3702
206.66
207.53
848
0.87
0.82
49
5.25
0.83
0.05
0.01
T20
ZKTDB3901
110.70
112.51
874
1.81
1.55
147
0.39
0.03
0.10
0.04
T2
ZKTDB3901
114.61
117.38
871
2.77
2.68
90
0.51
0.08
0.28
0.01
T3
ZKTDB3901
174.85
177.01
829
2.16
2.01
38
2.63
0.11
0.04
0.03
T4
ZKTDB4101
128.55
133.56
852
5.01
4.75
143
2.09
0.11
0.05
0.07
T1
ZKTDB4101
189.79
192.46
813
2.67
2.35
41
2.28
0.18
0.29
0.03
T20
ZKTDB4102
129.08
137.71
852
8.63
8.20
183
1.20
0.26
0.11
0.07
T1
ZKTDB4103
110.74
111.55
871
0.81
1.59
280
0.72
0.18
0.03
0.01
T3
ZKTDB4301
84.10
85.42
884
1.32
1.23
23
0.12
0.07
3.21
0.01
T31
[1] New veins.
[2] New unnamed veins.
[3] Thickness unknown.
Tunneling Programs at the TLP Mine
A total of
6,982 m
of exploration tunnels were developed at the TLP 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 TLP 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
(%)
T1W1, T2, T2E, T2W1, T5, T11, T14,
T14E, T15E, T15W, T15W2, T16,
T16E, T16W, T17, T17E, T17W, T22E,
T22W, T23, T31W, T33E1, T33E3
500-1050
6,982
3,062
4,932
2,213
0.66
255
3.53
0.47
[1] Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 125 g/t at the TLP mine
(Formula used for AgEq calculation: AgEq = Ag g/t + 33.82 * Pb% ).
Table 3: Selected mineralized zones exposed by drift tunneling at the TLP mine
Tunnel ID
Vein
Elevation
(m)
Length
(m)
Ore Length
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
PD730-T1W1-560-15NYM
T1W1
560
120
75
0.41
646
1.57
1.56
PD730-T2E-716-7SYM
T2E
716
20
20
0.97
247
3.92
0.37
PD1050-T5-1050-6NYM
T5
1050
104
80
0.75
198
2.53
0.36
PD930-T11-930-6NYM
T11
930
35
25
0.60
369
3.81
0.19
PD930-T11-930-6SYM
T11
930
30
30
0.83
141
2.78
0.23
PD890-T11-890-4SYM
T11
890
125
80
0.62
333
3.81
0.35
PD820-T11-755-8CCLJ
T11
755
35
20
0.76
468
3.59
0.21
PD820-T11-755-8CCNYM
T11
755
32
32
0.76
516
3.16
0.22
PD820-T11-600-3NYM
T11
600
280
95
0.87
56
4.78
0.54
PD820-T14-600-1NYM
T14
600
160
45
0.89
139
3.99
0.52
PD820XPD-T14-600-16NYM
T14
600
25
25
0.74
188
3.21
0.23
PD820XPD-T14-500-15NYM
T14
500
85
45
0.54
30
5.60
0.25
PD846-T15-846-12NYM
T15E
846
28
28
0.70
426
4.56
0.33
PD930-T15W-930-12CCWM
T15W
930
35
15
0.73
481
3.33
0.67
PD820-T15W-820-12SYM
T15W
820
50
45
0.53
288
4.79
0.36
PD820-T15W-820-12NYM
T15W
820
45
45
0.77
286
5.37
0.44
PD820-T15W-755-8NYM
T15W
755
16
16
0.47
883
4.93
0.20
PD820XPD-T15W-550-0NYM
T15W
550
75
75
0.53
30
3.92
0.35
PD846-T15W-846-12SYM
T15W2
846
125
60
0.49
436
2.92
0.49
PD800-T16-800-23SYM
T16
800
76
60
0.83
262
1.37
0.55
PD820XPD-T16-550-4NYM
T16
550
250
105
0.75
68
5.23
0.83
PD820-T16W-820-14SYM
T16W
820
20
20
0.86
1,011
4.45
1.32
PD890-T17-890-1SYM
T17
890
95
65
0.70
251
1.47
0.46
PD820XPD-T17W-550-4SYM
T17W
550
125
70
0.77
212
3.86
0.22
PD730-T2-665-23SYM
T22E
665
50
40
0.98
51
3.12
0.22
PD820-T22E-650-14SYM
T22E
650
95
60
1.04
185
4.20
0.22
PD820XPD-T23-510-11SYM
T23
510
45
40
1.44
382
2.70
2.04
PD890-T31W-890-31NYM
T31W
890
45
43
0.47
620
1.19
0.44
PD890-T31W-890-31SYM
T31W
890
31
31
0.49
1,460
6.95
1.11
PD960-T33E1-990-13SYM
T33E1
990
100
50
0.56
369
5.75
0.16
PD730-T33E3-510-19SYM
T33E3
510
145
30
0.59
486
2.47
0.26
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
View original content to download multimedia:
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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 17:05e 27-JAN-22