Silvercorp Reports High Grade Mineralization from Its Q1-Q3 2018 Drilling Program at the GC MINE IN Guangdong Province, China
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NEWS RELEASE
Trading Symbol: TSX: SVM
NYSE American: SVM
SILVERCORP REPORTS HIGH GRADE MINERALIZATION FROM ITS Q1-Q3 2018 DRILLING PROGRAM
AT THE GC MINE IN GUANGDONG PROVINCE, CHINA
VANCOUVER, British Columbia – December 12, 2018 – Silvercorp Metals Inc. ("Silvercorp” or the
“Company”) (TSX:SVM / NYSE AMERICAN: SVM ) is pleased to repo rt results of its drilling program from
January 1 to September 31, 2018 at the GC silver-lead-zinc Mine, Guangdong Province, China.
During the first nine months of 2018, the Company continued the extensive drilling program at the GC
Mine, completing 132 underground diamond drill holes totaling 18,029 metres (m) with 3 underground
rigs. Results of the underground drilling consistently extended not only the major mineralized vein
structures along strike and downdip , but also the high-grade mineralization zones within major
production vein structures.
Highlighted drill hole intersections include:
Hole 18CK3804 intersected a 1.70m interval from 36.67m to 38.37m, for a 1.52m true width in vein
V2E3, with grades of 736 g/t Ag, 0.84% Pb and 0.79% Zn at the -154m elevation;
Hole 18CK28A07 intersected an 8.85m interval from 121.62m to 130.47m, for a 6.98m true width in
vein V2-4, grading 348 g/t Ag, 2.32% Pb and 4.81% Zn at the -302m elevation, and a 1.29m interval
from 177.95m to 179.24m, for a 0.92m true width in vein V2E, grading 65 g/t Ag, 5.46% Pb and 6.58%
Zn at the -343m elevation;
Hole 18CK4206 intersected a 4.11m interval from 33.60m to 37.71m, for a 3.74m true width in vein
NV10, with grades of 118 g/t Ag, 0.91% Pb and 6.04% Zn at the -54m elevation; and
Hole 18CK40A05 intersected a 0.80m interval from 26.16m to 26.96m, for a 0.77m true width in
vein V19-1, grading 86 g/t Ag, 15.01% Pb and 7.22% Zn at the -57m elevation.
The underground drilling program was mainly conducted from the current production levels to delineate
the downdip and along-strike extensions of known mineralized vein structures in the production area. It
also tested for new veins in previously less-explored areas . The drilling intersected high-grade
mineralization at elevation level as low as -735m, and the mineralization is still open at depth (Table. 1).
Table 1: Brief summary of the drilling program (January 1 to September 31, 2018)
Major Target Veins
Target
Elevation
(m)
Metres
Drilled
(m)
Samples
Collected
Holes
Completed
Holes
Intercepting
Vein Structures
Holes Intercepting
Mineralization [1, 2]
V1, V1-1, V2-2, V2-4, V2E,
V2W, V5-4, V5-7, V5-8, V6,
V6M, V10, V10-1, NV10,
V16, V18, V19, NV28, V33
(-500) - 50 15,592 3857 132 130 116
[1] Mineralized intersection in drill holes is defined by silver equivalent value (AgEq) greater than or equal to 100 g/t.
[2] Formula used for AgEq calculation: AgEq = Ag g/t + 44.6 * Pb% + 43.5 * Zn%
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Table 2 below list s the assay results of selected mineralized intersections in drill holes in the drilling
program from January 1, 2018 to September 31, 2018.
Table 2: Selected results from the drilling program at the GC Mine
Hole ID From
(m)
To
(m)
Elevation
(m)
Interval
(m)
True
Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%) Vein
18CK10305 118.14 118.65 -69.78 0.51 0.49 55 0.59 10.18 V19
122.70 123.43 -70.99 0.73 0.70 32 0.10 7.98 V19-4
18CK10701 26.81 28.48 -112.74 1.67 1.56 96 3.93 3.17 V28-4
18CK10707 196.74 198.00 -297.02 1.26 1.20 53 3.47 6.45 V2W
18CK10805 54.72 55.60 39.63 0.88 0.86 293 6.81 4.73 V33
18CK11006 103.15 104.61 -3.65 1.46 0.89 42 1.71 4.31 V33
18CK11205 66.70 68.57 14.98 1.87 1.79 36 1.29 5.51 V33
18CK11301 111.37 112.17 -6.32 0.80 0.69 95 3.86 5.19 V33
18CK11305 46.34 47.44 2.93 1.10 0.87 67 0.04 8.66 V14
18CK11309 50.90 52.38 -57.10 1.48 1.14 224 4.34 4.38 V5-9
18CK11310 66.99 68.40 -76.78 1.41 0.76 136 1.76 3.31 V5-9
18CK11505 50.64 53.40 -57.11 2.76 2.10 126 0.98 5.39 V5-9
18CK11506 93.77 95.05 -87.21 1.28 0.52 128 0.09 11.63 V5-2
18CK1404 66.04 66.79 -65.45 0.75 0.67 48 1.96 6.20 V6E
18CK2004 19.89 20.91 0.04 1.02 1.00 376 0.09 5.42 V9-7
18CK26A07 137.53 138.65 -240.55 1.12 1.10 197 0.75 2.69 V6E2
18CK2801 200.17 202.25 -489.46 2.08 1.39 128 2.73 8.15 V2E
18CK28A07 121.62 130.47 -302.04 8.85 6.98 348 2.32 4.81 V2-4
177.95 179.24 -343.45 1.29 0.92 65 5.46 6.58 V2E
286.24 287.88 -430.47 1.64 1.49 139 0.65 6.74 V6E
18CK28A08 140.73 149.58 -262.13 8.85 8.51 265 1.12 1.51 V2E
18CK28A09 213.77 214.63 -404.13 0.86 0.69 161 0.91 10.79 V2-2
18CK3003 132.09 133.18 -168.56 1.09 0.97 60 0.10 8.44 V16
18CK3011 15.80 17.00 -207.17 1.20 1.20 175 0.68 2.81 V2-2
78.41 79.73 -233.65 1.32 1.29 62 0.71 5.15 V6-0
18CK3014 141.23 143.09 -341.95 1.86 1.17 112 0.18 11.26 V6-0
18CK3410 0.00 1.27 -149.85 1.27 0.95 82 1.64 6.65 V2E3
18CK3804 36.67 38.37 -153.76 1.70 1.52 736 0.84 0.79 V2E3
18CK4003 97.67 98.59 -7.60 0.92 0.55 303 18.95 3.54 V7-1E
18CK4004 28.94 30.19 -54.11 1.25 1.21 54 2.52 4.63 V10-4
18CK40A05 26.16 26.96 -57.18 0.80 0.77 86 15.01 7.22 V19-1
37.88 38.63 -65.01 0.75 0.72 42 2.09 6.11 V19-2
18CK40A06 45.61 48.20 -11.38 2.59 2.58 103 2.15 6.19 NV10
18CK40A07 47.63 49.48 -28.05 1.85 1.69 107 3.06 4.53 NV10
18CK4206 33.60 37.71 -54.04 4.11 3.74 118 0.91 6.04 NV10
18CK4207 42.85 44.50 -65.43 1.65 1.54 73 0.74 6.23 V10-4
52.19 55.50 -70.37 3.31 3.10 71 1.28 6.96 NV10
18CK4208 23.92 24.71 -45.71 0.79 0.72 55 0.18 10.60 V10-4
18CK42A02 60.14 60.78 -65.52 0.64 0.54 23 2.53 8.24 V10-1
18CK9901 59.26 60.38 -48.73 1.12 0.96 43 3.69 2.19 V6-8
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Quality Control
Drill core samples were taken from sawn half core for every 1.5m or limited by apparent wall rock and
mineralization contact. Half of the core was sent to the laboratory for analysis and the other half
retained for archiving. The samples are individually secured in cotton sample bags and then collectively
secured in rice bags for shipment to the on-site laboratory.
For analysis, the sample is dried and crushed to minus 1 mm and then split to a 200 -300 g subsample
which is further pulverized to minus 200 m esh. A duplicate sample of minus 1 mm is made and kept at
the laboratory archives. Two subsamples are prepared from the pulverized sample. One is digested with
two-acids for analysis of silver, lead, zinc and copper with AAS. The other is retained as pulp reject at the
lab for future reference.
A routine quality assurance/quality control (QA/QC) procedure is adopted to monitor the analytical
quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks are inserted into
each lab batch of 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. Projec t geologists regularly insert CRM, field
duplicates and blanks to each batch of 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 about 3-5% of the pulp samples to higher level labs to check for lab bias.
Data from both the Company's and the lab’s QA/QC programs are reviewed on a timely basis by project
geologists.
Guoliang Ma, P. Geo, Silvercorp’s Manager of Exploration and Resource, reviewed the exploration data
and prepared the scientific and technical information regarding exploration results contained herein. He
is the Qualified Person on the project as defined under National Instrument 43 -101 and has verified and
approved the contents of this news release.
About Silvercorp
Silvercorp is a low -cost silver -producing Canadian mining company with multiple mines in China . The
Company’s vision is to deliver shareholder value by focusing on the acq uisition of under developed
projects with resource potential and the ability to grow organically. For more information, please visit
our website at www.silvercorp.ca.
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.silvercorp.ca
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Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that c ould
cause actual events or results to differ from those reflected in the forward -looking statements or information , including, without limitation,
risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery;
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