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Silvercorp Intersects 7.6 Metres True Width Grading 705 Grams Per Tonne Silver and 1.51% Lead from Vein LM7W at the LMW Mine

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TSX: SVM
NYSE American: SVM

VANCOUVER, BC, Oct. 14, 2021 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report thick and high-grade intercepts from its 2021 exploration program at the LMW mine. Extensive exploration drilling and tunneling are ongoing at the LMW mine, and all other mines in the Ying Mining District, Henan Province, China.

Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc)
Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc)

From May 1 to September 30, 2021, 23,908 metres ("m") from a total of 166 diamond drill holes, including 152 underground holes and 14 surface holes, were completed at the LMW mine. Assay results for 102 holes have been received, with 70 holes intercepting mineralization. Currently there are 12 rigs drilling at the LMW mine.

The strategy of the drilling program is threefold: 1) drill above or beneath the stopes that were previously mined but stopped due to poor understanding of the geology, such as veins LM7 and LM7W where much thicker pods have been discovered by infill drilling; 2) drill for high-grade silver-lead-zinc veins at the northwest and east sides of the resource area with previous limited drilling without follow up such as W1, W2, W6, and LM41E series veins where high grade intercepts were discovered and can quickly be mined; and 3) drill low angle gold veins such as LM50, copper-gold-silver veins such as LM26, and gold-silver-copper veins such as LM22.

Drilling Intersected High-Grade Silver-Lead-Zinc Veins at the Northwest and East Sides of the Resource Area

At the northwest side of the resource area, drilling intersected high-grade silver-lead-zinc veins W1, W2, W6, and W6E1 with true widths up to 4.67 m, at an elevation above 850 m. The drilling program discovered new splay and parallel veins, including W1E, W2E, W2W, W6W, and W18E. Vein W1 has been defined approximately 200 m along strike and 100 m down-dip, and is still open laterally along strike and at depth.

At the east side of the resource area, between the LMW mine and the LME mine, drilling intersected high-grade silver-lead-zinc vein LM41E, at an elevation above 760 m. Drilling also intersected additional splay and parallel silver-lead-zinc veins LM41E1 and LM41E1Wa, which are also high-grade vein structures with true widths up to 7.03 m.

Drill Above or Beneath the Stopes That Were Previously Mined

Most holes in this period targeted blocks of known silver-lead-zinc veins in the 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 northeast-striking LM7 series and LM12 series, and the northwest-striking LM8 series and LM19 series. Drilling discovered additional splay and parallel vein structures LM12_2a and T1, the latter may be a southwest extension of the major vein structure T1 at the TLP mine to the northeast of the LMW mine.

Highlights of the high-grade silver-lead-zinc mineralization at the LMW mine:

  • Hole ZKX05X023 intersected an 8.87 m interval (7.60 m true width) of vein LM7W grading 705 grams per tonne ("g/t") silver ("Ag"), 1.51% lead ("Pb"), 0.08% zinc ("Zn"), 0.06 g/t gold ("Au"), and 0.05% copper ("Cu") from 24.73 m depth, at an elevation of 790 m;

  • Hole ZKX1137 intersected a 5.16 m interval (4.80 m true width) of vein LM41E1 grading 984 g/t Ag, 1.19% Pb, 0.29% Zn, 0.08 g/t Au, and 1.15% Cu from 46.4 m depth, at an elevation of 793 m;

  • Hole ZKX0451 intersected a 3.11 m interval (1.72 m true width) of vein W1 grading 1,468 g/t Ag, 4.90% Pb, 0.97% Zn, 0.03 g/t Au, and 0.35% Cu from 137.88 m depth, at an elevation of 981 m;

  • Hole ZKX05X037 intersected a 5.40 m interval (5.06 m true width) of vein LM8W grading 703 g/t Ag, 1.52% Pb, 0.14% Zn, 0.08 g/t Au, and 0.42% Cu from 24.97 m depth, at an elevation of 795 m;

  • Hole ZKX0789 intersected a 2.96 m interval (2.21 m true width) of vein LM7W grading 1,646 g/t Ag, 2.42% Pb, 0.27% Zn, 0.45 g/t Au, and 0.17% Cu from 15.96 m depth, at an elevation of 786 m;

  • Drift Tunnel PD918-W1-918-4SYM exposed mineralization 15 m long and 0.85 m wide (true width), grading 1,561 g/t Ag, 4.31% Pb, 0.62% Zn, 0.02 g/t Au, and 0.45% Cu of vein W1 at an elevation of 918 m (Table 3); and

  • Drift Tunnel PD918-W1-918-4NYM exposed mineralization 30 m long and 0.61 m wide (true width), grading 1,222 g/t Ag, 3.74% Pb, 0.98% Zn, 0.15 g/t Au, and 0.34% Cu of vein W1 at an elevation of 918 m (Table 3).

Drill Low Angle Gold or Copper-Gold-Silver Veins

The drilling continued intersecting and extending the low angle gold vein LM50. An additional 17 holes in this period targeted LM50 and defined a block 800 m E-W by 500 m N-S, with hole density at the central 300 m by 300 m portion being approximately 25 m by 25 m. Another 15 holes targeted the low angle gold vein structure LM26. The assay results of 13 holes were returned with 10 holes intersecting gold mineralization.

Highlights of the intercepts from the low angle gold veins at the LMW mine:

  • Hole ZKX0796 intersected a 3.47 m interval (2.74 m true width) of vein LM50 grading 11.82 g/t Au, 27 g/t Ag, 0.29% Pb, 0.22% Zn, and 0.01% Cu from 37.23 m depth, at an elevation of 786 m;

  • Hole ZKX0788 intersected a 2.47 m interval (1.99 m true width) of vein LM50 grading 1.26 g/t Au, 1,193 g/t Ag, 0.40% Pb, 0.04% Zn, and 0.16% Cu from 14.46 m depth, at an elevation of 789 m;

  • Hole ZKX0787 intersected a 1.51 m interval (1.27 m true width) of vein LM26 grading 5.86 g/t Au, 2 g/t Ag, 0.01% Pb, 0.02% Zn, and 0.01% Cu from 80.04 m depth, at an elevation of 749 m;

  • Hole ZKX0153 intersected a 2.12 m interval (1.23 m true width) of vein LM26 grading 4.62 g/t Au, 19 g/t Ag, and 0.75% Cu from 63.11 m depth, at an elevation of 646 m;

  • Hole ZKX0172 intersected a 1.19 m interval (1.01 m true width) of vein LM26 grading 2.81 g/t Au, 132 g/t Ag, and 4.05% Cu from 60.95 m depth, at an elevation of 643 m;

  • Drift Tunnel PD924-LM22-834-5YMSS exposed mineralization 20 m long and 0.38 m thick (true thickness), grading 97 g/t Ag, 26.89 g/t Au and 12.93% Cu of vein LM22 at an elevation of 834 m (Table 3); and

  • Drift Tunnel PD924-LM22-834-5YMSD exposed mineralization 10 m long and 0.39 m thick (true thickness), grading 54 g/t Ag, 38.95 g/t Au and 5.63% Cu of vein LM22 at an elevation of 834 m (Table 3).

Table 1: Selected intercepts from the drilling program at the LMW mine

Hold ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

True
Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

Au
(g/t)

Cu
(%)

Vein

Ore Type

ZKX0153

63.11

65.23

646

2.12

1.23

19

0.08

0.01

4.62

0.75

LM26

Cu-Ag-Au

ZKX0172

60.95

62.14

643

1.19

1.01

132

0.03

0.01

2.81

4.05

LM26

Cu-Ag-Au

ZKX0173

1.35

2.33

697

0.98

0.49

196

6.26

1.45

0.03

0.39

LM19W1

Ag-Pb-Zn

ZKX0173

69.70

70.43

653

0.73

0.21

217

0.83

0.15

1.87

0.79

LM26

Cu-Ag-Au

ZKX0346

66.05

66.55

887

0.50

0.46

322

2.45

0.13

0.03

0.04

LM12_1

Ag-Pb-Zn

ZKX0363

116.29

118.78

513

2.49

2.43

92

2.05

0.15

0.05

0.04

LM7

Ag-Pb-Zn

ZKX0390

18.68

19.52

680

0.84

0.63

57

3.89

0.14

0.05

0.04

LM19W

Ag-Pb-Zn

ZKX0390

60.86

61.63

640

0.77

0.58

37

0.01

0.03

0.92

5.43

LM26

Cu-Ag-Au

ZKX0391

60.94

61.51

640

0.57

0.48

9

0.56

0.07

3.15

2.36

LM26

Cu-Ag-Au

ZKX0392

9.23

10.25

689

1.02

0.42

214

0.20

0.33

0.01

0.03

LM19W

Ag-Pb-Zn

ZKX0393

16.81

17.64

684

0.83

0.56

25

5.36

0.02

0.01

0.01

LM21

Ag-Pb-Zn

ZKX0422

311.17

312.39

833

1.22

0.18

348

1.79

0.11

0.03

0.12

LM17

Ag-Pb-Zn

ZKX0433

119.75

120.26

918

0.51

0.41

1

0.00

0.01

2.82

0.01

W2

Au

ZKX0433

144.41

145.51

914

1.10

1.07

172

7.31

0.13

0.01

0.03

W1

Ag-Pb-Zn

ZKX0434

114.94

116.86

903

1.92

1.81

639

3.30

0.55

0.04

0.06

W2

Ag-Pb-Zn

ZKX0434

146.36

148.91

894

2.55

2.42

1,065

2.98

0.26

0.02

0.28

W1

Ag-Pb-Zn

ZKX0435

158.30

159.28

848

0.98

0.78

238

0.51

0.45

0.03

0.02

W1

Ag-Pb-Zn

ZKX0435

225.40

226.60

810

1.20

2.40

46

5.96

0.13

0.02

0.02

W6E1

Ag-Pb-Zn

ZKX0442

136.75

139.86

908

3.11

2.88

543

4.21

1.19

0.03

0.11

W2

Ag-Pb-Zn

ZKX0442

147.76

150.20

906

2.44

2.26

695

2.96

0.17

0.03

0.07

W1

Ag-Pb-Zn

ZKX0447

154.85

156.05

946

1.20

0.79

4,034

4.67

0.73

0.05

0.46

W1

Ag-Pb-Zn

ZKX0448

91.40

95.32

1,001

3.92

2.72

183

1.03

0.20

0.05

0.14

W2

Ag-Pb-Zn

ZKX0451

61.86

62.83

1,028

0.97

0.54

376

5.78

0.13

0.03

0.04

W2

Ag-Pb-Zn

ZKX0451

121.68

126.31

991

4.63

2.57

300

0.62

0.08

0.03

0.05

W1E [1]

Ag-Pb-Zn

ZKX0451

137.88

140.99

981

3.11

1.72

1,468

4.90

0.97

0.03

0.35

W1

Ag-Pb-Zn

incl

138.72

139.90

981

1.18

0.65

3,572

12.55

2.40

0.03

0.88

W1

Ag-Pb-Zn

ZKX0452

28.85

29.82

934

0.97

0.95

995

3.06

0.19

0.05

0.23

W18E [1]

Ag-Pb-Zn

ZKX0452

136.42

141.17

925

4.75

4.67

123

0.66

0.16

0.05

0.03

W1

Ag-Pb-Zn

ZKX0452

146.67

147.70

924

1.03

1.01

195

0.14

0.09

0.05

0.02

W6W [1]

Ag-Pb-Zn

ZKX0452

163.80

164.40

922

0.60

0.59

309

1.04

0.10

0.05

0.02

W1E

Ag-Pb-Zn

ZKX0544

26.31

27.08

884

0.77

0.74

176

8.77

0.07

0.14

0.03

LM12_2a [1]

Ag-Pb-Zn

ZKX0578

82.30

83.44

548

1.14

1.13

230

0.72

0.10

0.33

0.21

LM7

Ag-Pb-Zn

ZKX0581

68.26

70.77

576

2.51

1.98

200

0.22

0.12

0.09

0.09

LM7W1

Ag-Pb-Zn

ZKX05X019

16.90

17.45

794

0.55

0.54

158

1.18

0.04

0.03

0.02

LM7W

Ag-Pb-Zn

ZKX05X019

39.38

44.59

783

5.21

5.14

221

1.49

0.34

0.03

0.57

LM7

Ag-Pb-Zn

ZKX05X020

23.03

24.48

784

1.45

1.40

455

1.09

0.02

0.03

0.07

LM7W

Ag-Pb-Zn

ZKX05X020

35.97

46.44

774

10.47

5.79

520

0.72

0.27

0.03

0.28

LM7

Ag-Pb-Zn

ZKX05X021

37.66

43.76

767

6.10

6.06

213

0.85

0.11

0.05

0.28

LM7

Ag-Pb-Zn

incl

38.73

39.81

766

1.08

0.91

1,075

2.04

0.17

0.19

1.20

LM7

Ag-Pb-Zn

ZKX05X023

24.73

33.60

790

8.87

7.60

705

1.51

0.08

0.06

0.05

LM7W

Ag-Pb-Zn

incl

27.81

29.25

790

1.44

1.23

3,721

1.52

0.12

0.05

0.09

LM7W

Ag-Pb-Zn

ZKX05X024

21.14

24.79

785

3.65

3.21

135

0.74

0.05

0.06

0.03

LM7W

Ag-Pb-Zn

ZKX05X024

41.66

44.38

769

2.72

2.38

692

1.38

0.18

0.10

0.66

LM7

Ag-Pb-Zn

incl

41.66

42.17

769

0.51

0.45

1,737

2.53

0.10

0.05

0.10

LM7

Ag-Pb-Zn

ZKX05X025

16.57

19.68

785

3.11

2.45

207

0.62

0.07

0.98

0.03

LM50

Au

ZKX05X025

20.68

21.78

782

1.10

0.87

179

0.68

0.04

0.03

0.03

LM7W

Ag-Pb-Zn

ZKX05X037

24.97

30.37

795

5.40

5.06

703

1.52

0.14

0.08

0.42

LM8W

Ag-Pb-Zn

incl

28.15

29.23

794

1.08

1.01

2,721

4.74

0.38

0.20

1.65

LM8W

Ag-Pb-Zn

ZKX05X037

46.09

52.24

790

6.15

5.75

185

0.77

0.10

0.03

0.10

LM7

Ag-Pb-Zn

ZKX0628

34.81

35.62

934

0.81

0.80

422

1.44

4.71

0.03

0.13

W18E

Ag-Pb-Zn

ZKX0628

150.69

151.90

926

1.21

1.21

600

1.25

0.10

0.03

0.02

W1

Ag-Pb-Zn

ZKX0629

65.51

67.72

926

2.21

1.90

743

1.64

1.35

0.05

0.00

W2W [1]

Ag-Pb-Zn

incl

65.51

66.38

926

0.87

0.75

1,175

4.10

3.38

0.05

0.29

W2W

Ag-Pb-Zn

ZKX0629

151.08

153.33

913

2.25

1.94

181

5.94

0.12

0.02

0.00

W1

Ag-Pb-Zn

ZKX0742

157.08

159.59

1,063

2.51

2.50

544

1.00

0.41

0.05

0.15

LM41E

Ag-Pb-Zn

ZKX0748

169.79

171.81

992

2.02

1.67

1,103

4.11

2.56

0.03

0.25

LM41E

Ag-Pb-Zn

incl

169.79

170.51

992

0.72

0.59

2,901

10.69

6.91

0.03

0.61

LM41E

Ag-Pb-Zn

ZKX0754

85.20

88.81

555

3.61

3.16

120

1.15

0.07

0.10

0.88

LM7

Ag-Pb-Zn

ZKX0766

14.66

15.17

799

0.51

0.49

458

0.29

0.23

0.03

0.06

LM41E

Ag-Pb-Zn

ZKX0771

4.65

6.01

801

1.36

1.33

453

0.52

0.19

0.01

0.04

LM41E

Ag-Pb-Zn

ZKX0771

11.69

12.61

799

0.92

0.90

...

389

1.55

0.46

0.02

0.06

LM17W

Ag-Pb-Zn

ZKX0771

41.17

42.66

791

1.49

1.46

93

1.81

0.12

0.02

0.03

LM41E1 [1]

Ag-Pb-Zn

ZKX0772

77.32

77.92

750

0.60

0.57

857

6.54

3.32

0.05

0.54

LM17W

Ag-Pb-Zn

ZKX0787

40.84

45.87

775

5.03

4.22

173

0.56

0.05

0.05

0.03

LM7

Ag-Pb-Zn

ZKX0787

80.04

81.55

749

1.51

1.27

2

0.01

0.02

5.86

0.01

LM26

Au

ZKX0788

14.46

16.93

789

2.47

1.99

1,193

0.40

...

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