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Silvercorp Expands Mineralized Veins by Drilling and Tunneling at the TLP and LME Mines, Ying Mining District, China

 -- Published: Thursday, 24 August 2017 | Print  | Disqus 

Trading Symbol: TSX: SVM   NYSE AMERICAN: SVM     

VANCOUVER , Aug. 24, 2017 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM / NYSE AMERICAN: SVM) is pleased to report results of the first half of its 2017 exploration programs at the TLP and LME mines, Ying Mining District, Henan Province , China.

In the first half of 2017, the Company completed 17,230 meters ("m") of underground diamond drilling and 6,196m of exploration tunneling at the TLP and LME mines. Underground drilling continuously extended the major mineralized vein structures along strike and downdip, and drift tunneling exposed high-grade mineralized zones at both mines.

Highlights of selected intersections of drill holes:

LME Mine:

  • Hole ZKL51A21 intersected a 6.85m interval from 21.32m to 28.17m, 6.74m true width, of vein LM5E1 grading 419 grams per tonne ("g/t") silver ("Ag"), 0.96% lead ("Pb") and 0.38% zinc ("Zn") at the 546m elevation, including a 0.58m interval from 23.46m to 24.04m, 0.57m true width grading 1,151g/t Ag, 5.81% Pb and 1.99% Zn, and a 2.16m interval from 41.33m to 43.49m, 2.12m true width, of vein LME grading 1,347 g/t Ag, 1.45% Pb and 0.68% Zn at the 539m elevation;  and

  • Hole ZKL5337 intersected a 7.50m interval from 297.36m to 304.86m, 5.38m true width, of vein LM5 grading 558g/t Ag, 3.31% Pb and 0.56% Zn at the 240m elevation, including a 0.60m interval from 300.94m to 301.54m, 0.43m true width grading 4,229g/t Ag, 19.76% Pb and 0.96% Zn.


TLP Mine:

  • Hole ZKT2541 intersected an 1.17m interval from 86.19m to 87.36m, 0.80m true width, of vein T39W grading 1,577g/t Ag, 10.40% Pb and 3.10% Zn at the 796m elevation.


Highlights of selected mineralization zones exposed in exploration drift tunnels:

LME Mine:

  • Drift Tunnel PD900-LM5E2-550-51NSYM exposed mineralization of 75m long and 1.07m wide (true width) grading 595 g/t Ag, 2.29% Pb and 0.78% Zn within vein structure LM5E on the 550m level.


TLP Mine:

  • Drift Tunnel PD846-T16E-846-4SYM exposed mineralization of 45m long and 0.54m wide (true width) grading 1,621g/t Ag, 2.60% Pb and 0.24% Zn within vein structure T16E on the 846m level; and

  • lDrift Tunnel PD820-T14-700-2NYM exposed mineralization of 119m long and 0.86m wide (true width) grading 406g/t Ag, 5.03% Pb and 0.54% Zn within vein structure T14 on the 700m level.


Diamond drill holes are designed to define and upgrade inferred mineral resource blocks and test for new mineral resources. Underground drilling is mainly conducted from current production levels to delineate the downdip and along-strike extensions of known mineralized vein structures in the production area and test for new veins in the previous less-explored areas.

The first half of 2017 drilling program at TLP and LME mines is briefly summarized in the following table:









Major Target
Veins


Meters
Drilled

Holes
Completed

Samples
Collected

Holes with
Assay
Received

Holes
Intercepted
Vein
Structures

Holes
Intercepted
Mineralization

TLP Mine








T1W1, T1W2, T8, T11, T15, T15W, T16, T27 ,T28, T38, and T39


12,609

44

1,089

45

45

31

LME Mine








LM3, LM4, LM5, LM6, LM9, and ZG


4,621

17

639

30

30

17

 

The 2017 exploration tunneling, comprising drifting, crosscutting and raising, was driven along and across major mineralized vein structures to upgrade drill defined mineral resources and test for new parallel and splay structures.

The first half of 2017 tunneling program at TLP and LME mines is briefly summarized in the following table:







Major Target Veins


Total
Tunneling
(m)

Channel
Samples
Collected

Drift
Tunneling
Included
(m)

Total Mineralization Exposed by Drift Tunneling

Length
(m)

Average
True
Width (m)

Ag (g/t)

Pb (%)

Zn (%)

TLP Mine










T1, T2, T3, T3E, T4, T5, T14, T14E, T15W, T16, T16W, T16E, T17, T22, T27, T33E


4,458

2,172

3,288

1,242

0.66

447

3.73

0.55

LME Mine










LM3, LM4, LM5, LM5E, and ZG1


1,738

766

1,088

442

0.76

442

1.71

0.50

 

Tables 1 and 2 below list the assay results of some selected mineralized intersections in drill holes and mineralized zones exposed in drift tunnels in the first half of 2017 exploration programs.

Table 1: Selected drilling results from the 2017 drilling program at TLP and LME mines

Hole ID

From
(m)

To (m)

Elevation
(m)

Interval
(m)

True
Width
(m)

 Ag
(g/t)

Pb
(%)

Zn
(%)

Vein

Remarks

LME mine











ZKL5031

55.96

56.49

458

0.53

0.45

110

0.57

0.09

LM3_1

Test*


208.75

209.53

338

0.78

0.69

181

0.12

0.63

LM6

Test


212.54

212.98

335

0.44

0.39

122

0.43

2.12

LM6E

Test


277.65

278.20

284

0.55

0.48

253

2.83

2.26

LM5E

Stepout***

ZKL5746

358.46

358.87

767

0.41

0.41

269

0.34

0.44

ZG2

Test

ZKL51A21

15.22

16.52

548

1.30

1.28

291

0.44

0.17

LM5

Infill**


21.32

28.17

546

6.85

6.74

419

0.96

0.38

LM5E1

Infill

Including

23.46

24.04

545

0.58

0.57

1,151

5.81

1.99




27.27

27.76

544

0.49

0.48

1,447

1.00

0.11




41.33

43.49

539

2.16

2.12

1,347

1.45

0.68

LM5E

Infill

Including

41.33

42.26

539

0.93

0.91

1,968

1.70

0.57




51.67

52.63

535

0.96

0.84

239

0.81

0.18

LM5E2

Test


300.75

301.16

450

0.41

0.40

271

0.63

0.33

ZG2

Infill

ZKL5032

237.24

237.73

305

0.49

0.43

100

0.33

0.20

LM6

Test

ZKL5043

21.73

23.78

549

2.05

1.57

1,377

1.25

1.17

LM5

Infill

Including

22.88

23.78

548

0.90

0.69

2,581

1.83

2.23



ZKL5105

45.87

48.55

532

2.68

2.58

582

0.76

0.37

LM5E

Infill

ZKL52A21

70.51

72.32

505

1.81

1.60

942

3.98

0.68

LM5

Infill


103.31

104.94

482

1.63

1.43

179

1.68

0.39

LM5E

Infill

ZKL5321

57.76

58.17

534

0.41

0.40

109

0.29

0.08

LM5

Test


93.77

95.17

522

1.40

1.38

1,338

2.43

0.46

LM5E

Infill

Including

93.77

94.45

521

0.68

0.67

2,244

4.63

0.66



ZKL5337

297.36

304.86

240

7.50

5.38

558

3.31

0.56

LM5

Test

Including

300.94

301.54

236

0.60

0.43

4,229

19.76

0.96




315.93

316.68

223

0.75

0.54

435

4.38

3.33

LM5E

Test

ZKL53A21

21.19

22.28

547

1.09

0.99

467

1.33

0.93

LM5W2

Test


100.91

103.23

520

2.32

2.11

693

2.51

0.54

LM5E

Infill

ZKL53A22

23.77

24.25

538

0.48

0.42

342

2.53

1.00

LM5W2

Stepout


32.51

32.94

532

0.43

0.38

201

0.72

0.08

LM5W

Infill


111.96

112.52

482

0.56

0.49

356

0.75

0.58

LM5E

Infill


54.99

55.49

511

0.50

0.42

105

0.53

0.32

LM5

Test

ZKL5422

392.93

393.25

160

0.32

0.22

154

4.08

2.95

LM5E

Test


424.88

428.68

133

3.80

2.59

212

5.83

1.17

LM5E2

Test

TLP mine











ZKT2541

19.40

19.91

829

0.51

0.35

283

3.00

1.80

T38

Test


86.19

87.36

796

1.17

0.80

1,577

10.40

3.10

T39W

Test

ZKG0531

13.35

14.01

852

0.66

0.61

118

0.20

0.30

T16E

Stepout


161.13

161.63

816

0.50

0.46

56

5.10

1.10

T15W

Test

ZKG0532

211.95

212.97

685

1.02

0.94

85

7.80

5.20

T11

Stepout

ZKT2542

135.69

136.12

745

0.43

0.28

1,033

0.80

1.00

T39

Test


310.63

311.13

630

0.50

0.34

36

8.20

2.40

T16

Stepout

ZKTA1201

96.57

97.23

979

0.66

0.63

549

15.40

2.70

T27E

Stepout


155.44

156.46

984

1.02

0.95

147

0.40

0.30

T27

Infill

ZKTA1002

149.64

151.24

903

1.60

0.49

992

6.30

3.20

T1W2

Stepout


163.21

163.75

897

0.54

0.16

416

0.80

0.10

T25

Test


166.83

167.99

895

1.16

0.35

118

0.90

0.20

New vein to be named

Test

ZKG0533

20.73

21.32

836

0.59

0.39

197

0.40

0.50

T16E

Infill

ZKTA1001

104.68

105.14

998

0.46

0.42

349

1.30

0.10

T1W2

Test

ZKT2326

93.94

94.44

755

0.50

0.34

399

3.50

0.40

T39W

Test

ZKG0933

21.82

22.54

836

0.72

0.38

143

0.40

0.50

T16E

Infill


261.00

262.29

629

1.29

0.81

478

4.10

0.30

T11

Test

ZKG0934

27.66

29.01

829

1.35

0.61

277

1.00

0.30

T16E

Infill

ZKG1241

50.60

50.95

810

0.35

0.30

283

2.70

0.90

T12

Test

ZKT1005

98.51

99.16

958

0.65

0.49

211

1.70

0.10

T1W2

Stepout

ZKT0821

4.14

4.57

953

0.43

0.21

545

1.10

0.30

T16E1

Test

ZKT0823

1.91

2.83

954

0.92

0.75

134

0.40

0.20

T16Branch

Test

ZKT1744

419.08

419.46

695

0.38

0.36

460

0.40

1.30

T15W

Test

ZKT06A21

25.67

28.21

944

2.54

1.70

146

0.70

0.30

T16E

Test

ZKT0822

60.56

61.50

994

0.94

0.76

179

0.60

0.10

T16E

Test


77.82

78.16

1004

0.34

0.27

237

0.80

0.10

T16

Test

ZKG0422

201.22

201.82

523

0.60

0.52

167

3.70

0.70

T11

Stepout


284.94

285.36

468

0.42

0.37

11

4.70

0.50

T11E

Stepout

ZKGA1411

154.20

154.49

772

0.29

0.11

108

0.40

0.60

T16W

Stepout


166.28

169.23

766

2.95

1.16

92

6.70

0.10

T14E

Infill

ZKL2602

80.76

81.58

904

0.82

0.51

199

1.70

0.10

T15W

Test


324.64

325.06

857

0.42

0.36

836

2.60

0.60

T22

Test

ZKT1021

60.77

61.67

938

0.90

0.38

105

0.30

0.10

T16E

Test


107.34

108.39

925

1.05

0.44

767

5.30

2.80

T16

Test

*Test: intersections in open areas without known mineralization for new resource delineation
**Infill: intersections within known resource blocks for resource upgrade
***Stepout: intersections adjacent to existing resource blocks for resource expansion

 


Table 2: Selected mineralized zones exposed by drift tunneling at TLP and LME mines

Tunnel ID

Target
Vein

Level
(m)

Length
(m)

True
Width
(m)

Ag
(
g/t)

Pb
(
%)

Zn
(%)

TLP Mine








PD730-T1W2-765-11NYM

T1W2

765

25

0.63

140

0.65

0.23

PD1050-T3-1050-1SYM

T3

1050

95

1.01

101

1.56

0.12

PD800-T3E-800-35SNYM

T3E

800

115

0.85

255

5.75

0.45

PD1070-T4-1070-5NSYM

T4

1070

40

0.40

563

5.00

0.23

PD840-T5E1-840-13SYM

T5E1

840

35

0.34

263

5.11

10.00

PD820-T14-700-2NYM

T14

700

119

0.86

406

5.03

0.54

PD820-T16E-755-8NYM

T16

755

29

1.66

915

3.40

0.66

PD820-T16W-700-8SYM

T16W

700

38

0.62

1,207

6.36

1.03

PD846-T16E-846-4SYM

T16E

846

45

0.54

1,621

2.60

0.24

PD820-T16E-755-8NYM

T16E

755

55

0.30

130

1.51

0.25

PD820-T17-755-14NYM

T17W

755

60

0.40

263

2.13

0.22

PD930-T22-930-6NYM

T22

930

25

0.43

237

4.27

0.20

PD960-T27-960-14NSYM

T27

960

40

0.49

159

2.88

0.23

PD930-T33E-940-Sublevel-3NSYM

T33E

940

35

0.57

303

5.19

0.22

PD800-T33E-800-9NYM

T33E

800

25

0.39

244

2.68

0.59

LME Mine








PD838-LM3-700-58SYM

LM3

700

30

0.39

525

1.44

0.41

PD900-LM5-600-60NYM

LM5

600

50

1.23

375

1.50

0.35

PD900-LM5-500-52SNYM

LM5

500

60

0.58

443

1.11

0.19

PD900-LM5E-600-67SYM

LM5E

600

50

0.54

193

1.14

0.57

PD900-LM5E2-550-51NSYM

LM5E

550

75

1.07

595

2.29

0.78

PD900-LM5E1-560-53NS

LM5E1

560

25

0.89

594

1.08

0.30

 

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the Company's core shacks for future reference and checking, and the other half core samples are shipped in security sealed bags to the Chengde Huakan 514 Geology and Minerals Test and Research Institute in Chengde, Hebei Province , China , 226 km northeast of Beijing , and the Zhenzhou Nonferrous Exploration Institute Lab in Zhengzhou , Henan Province , China , and both labs are ISO9000 certified analytical lab. For analysis the sample is dried and crushed to minus 1mm and then split to a 200-300g 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 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 5m along strike. Both the mineralized vein and the altered wall rocks are cut with continuous chisel chipping. Sample length ranges from 0.2m to more than 1m, 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 service. The channel samples are dried, crushed and pulverized. A 200g sample of minus 160 mesh is prepared for assay. A duplicate sample of minus 1mm is made and kept at the laboratory archives. Gold is analysed by fire assay with AAS finish, and 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 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. Project 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 labs' QA/QC programs are reviewed on a timely basis by project geologists.

Ruijin Jiang , P. Geo, reviewed the exploration data and prepared the scientific and technical information regarding exploration results contained herein. Alex Zhang , P. Geo, VP exploration of the Company, is the Qualified Person on the project as defined under National Instrument 43-101 and he 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 acquisition of under developed projects with resource potential and the ability to grow organically.  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, 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; 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, 2017 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.

SOURCE Silvercorp Metals Inc

 


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