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Silvercorp Reports High-Grade Mineralization Discovery beneath Current Production Levels within Major Vein Structures at HZG, HPG and LMW Mines, Ying Mining District, China

 -- Published: Tuesday, 5 September 2017 | Print  | Disqus 

Trading Symbol: TSX: SVM   
NYSE AMERICAN: SVM

VANCOUVER , Sept. 5, 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 HZG, HPG and LMW mines, Ying Mining District, Henan Province , China.

In the first half of 2017, the Company completed a total of 21,675 meters ("m") of underground diamond drilling and 7,989m of exploration tunneling at HZG, HPG and LMW mines. Exploration tunneling exposed significant high-grade mineralized zones beneath the current production levels within major production veins, especially HZ20 at the HZG mine and H17 at the HPG mine. Underground drilling continuously extended the major mineralized vein structures along strike and downdip at the three mines.

Highlights of selected mineralized zones exposed in exploration drift tunnels:

  • Drift Tunnel PD820-HZ20-600-133-SYM exposed mineralization of 66m long and 1.21m wide (true width) grading 1,389 grams per tonne ("g/t") silver ("Ag"), 0.40% lead ("Pb"), 0.67% zinc ("Zn") and 2.78% copper ("Cu") within vein structure HZ20 on the 600m level at HZG mine;

  • Drift Tunnel PD3-H17-251-10NYM exposed mineralization of 61m long and 1.53m wide (true width) grading 66g/t Ag, 5.41% Pb, 2.59% Zn and 1.13g/t gold ("Au") within vein H17 on the 251m level at HPG mine; and

  • Drift Tunnel XPDN-LM19W1-700-3NYM exposed mineralization of 80m long and 1.01m wide (true width) grading 514g/t Ag, 3.22% Pb and 0.86% Zn within vein structure LM19W1 on the 700m level at LMW mine.


Highlights of selected intersections of drill holes:

  • Hole ZK11905 at HZG mine intersected an 1.60m interval from 185.73m to 187.33m, 0.91m true width, of vein HZ20 grading 999g/t Ag, 1.84% Pb, 0.38% Zn and 1.12% Cu at the 761m elevation;

  • Hole ZKX116F03 at LMW mine intersected a 0.95m interval from 60.92m to 61.87m, 0.82m true width, of vein LM33 grading 1,174g/t Ag, 8.34% Pb and 0.78% Zn at the 583m elevation; and

  • Hole ZKX107N01 at LMW mine intersected a 3.13m interval from 464.55m to 467.68m, 2.17m true width, of vein LM14 grading 279g/t Ag, 1.55% Pb and 0.06% Zn at the 519m elevation.


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 programs at HZG, HPG and LMW mines are 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

LMW Mine







LM12, LM13, LM14, LM19, LM19W1, LM19W2, LM30W

9,622

28

515

35

35

19

HPG Mine







H12, H21, H29

7,310

23

245

23

23

12

HZG Mine







HZ10, HZ11, HZ20, HZ22

4,743

15

255

18

18

7

*Including holes drilled in late 2016.







 

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 programs at HZG, HPG and LMW mines are 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 (%)

Au
(g/t)

HPG Mine










H5, H12E, H13, H15, H17

2,254

702

1,207

347

1.22

70

4.63

2.46

0.94

HZG Mine









Cu
(%)

HZ20, HZ22, HZ22W, HZ23, HZ26, HZ27

1,956

686

995

473

0.73

681

1.47

0.36

1.12

LMW Mine










LM7, LM8_4, LM12_1, LM14, LM14_2, LM16, LM17, LM19W1, LM19W2, LM31, T24, T27E

3,779

1,059

2,232

415

0.70

296

4.61

0.32


 

Tables 1 and 2 below list 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 programs at HZG, HPG and LMW mines

Hole ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

True Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)


Vein

Remarks

HZG Mine









Cu (%)



ZK14902

56.83

57.24

595

0.41

0.16

95

3.07

0.32

0.11

HZ22E

Test*

ZK11905

181.46

181.98

762

0.53

0.30

144

0.26

0.13

0.16

HZ20Branch

Test


185.73

187.33

761

1.60

0.91

999

1.84

0.38

1.12

HZ20

Test

ZK15108

280.84

282.08

370

1.24

0.67

372

0.44

0.13

0.16

HZ20

Test


283.80

284.24

367

0.44

0.23

127

0.13

0.47

0.58

HZ20W-Branch

Test

ZK11702

258.85

259.15

739

0.31

0.23

437

0.30

0.12

0.66

HZ20

Test

ZK11507

252.83

254.39

767

1.56

1.35

223

1.20

0.22

0.50

HZ20

Test

ZK4309

254.19

254.86

505

0.67

0.64

72

1.07

0.53

0.54

HZ22E

Test


354.55

356.44

450

1.89

1.63

279

0.10

0.06

0.09

HZ26

Test

HPG Mine









Au (g/t)


ZK3106

178.33

179.09

516

0.76

0.46

20

8.43

2.45

0.05

H12W

Test

ZK2909

3.25

7.88

626

4.63

1.40

24

0.20

0.01

1.63

H12E

Infill**


10.31

10.71

621

0.40

0.22

40

2.95

0.16

1.19

H12E_Branch

Test

ZK1213

163.12

163.74

602

0.62

0.30

6

1.30

0.03

1.54

H18_1

Test

ZK2709

122.72

123.12

528

0.40

0.24

51

6.05

0.09

0.03

H12E2

Test

ZK3615

201.15

202.24

501

1.09

0.82

4

0.05

0.01

2.13

H21

Stepout***

ZK3107

3.08

4.99

626

1.91

0.67

6

0.06

0.01

2.04

H12E

Infill

ZK3107

224.15

228.30

445

4.15

2.20

22

4.30

0.28

0.05

H12

Stepout

ZK4101

105.00

105.48

588

0.48

0.40

24

1.54

1.30

0.28

H12E1

Test


231.22

231.56

537

0.34

0.31

52

1.75

0.92

0.99

H12E

Test

ZK4102

271.37

272.15

456

0.78

0.64

45

1.95

1.22

0.53

H12E

Test

ZK2530

303.72

305.13

444

1.41

0.94

17

0.14

0.12

1.92

H29

Test

ZK3901

102.88

103.60

579

0.72

0.47

17

0.44

0.29

1.72

H12E1

Test


251.28

251.76

511

0.48

0.36

139

8.31

0.72

0.13

H12E

Test

ZK3903

83.24

83.85

562

0.61

0.29

27

4.07

1.92

0.16

H12

Test

LMW Mine











ZKX130W01

150.80

151.49

863

0.69

0.69

186

0.26

0.43


LM8_5

Test

ZKX107N01

464.55

467.68

519

3.13

2.17

279

1.55

0.06


LM14

Stepout

ZKX109N01

499.27

499.72

472

0.45

0.24

69

3.85

0.66


LM14

Stepout

ZKX103N04

390.39

392.54

407

2.15

1.27

106

1.08

0.11


LM14

Test

ZKX100N01

245.07

246.70

512

1.63

0.93

195

0.34

0.05


LM14

Test

ZKX02Q00

244.05

248.27

823

4.22

3.67

146

3.93

0.14


LM17

Test

ZKX13063

140.42

143.14

784

2.72

1.88

290

0.33

0.15


LM19

Test

ZKX12261

183.45

183.71

803

0.26

0.18

96

2.17

0.18


LM19

Test

ZKX107N01

117.73

119.58

726

1.85

1.18

225

0.31

0.09


LM19W3

Test

ZKX11651

100.51

101.27

537

0.76

0.68

99

12.02

0.05


LM32E

Test

ZKX116F03

60.92

61.87

583

0.95

0.82

1,174

8.34

0.78


LM33

Test

ZKX120F01

77.14

77.95

562

0.81

0.58

645

2.58

0.56


LM33

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 HZG, HPG and LMW mines

Tunnel ID

Vein

Level
(m)

Length
(m)

 True
Width (m)

 Ag
g/t)

 Pb
% 

 Zn
% 


HZG Mine








Cu (%) 

PD820-HZ20-650-123-NYM

HZ20

650

30

0.45

1,865

0.51

0.54

3.32

PD820-HZ20-600-133-SYM

HZ20

600

66

1.21

1,389

0.40

0.67

2.78

PD820-HZ20-600-133-NYM

HZ20

600

48

0.70

553

0.27

0.42

1.75

PD820-HZ20-550-133-SNYM

HZ20

550

20

0.67

320

0.22

0.78

1.32

PD820-HZ22-770-N1-SNYM

HZ22

770

25

0.81

873

0.60

0.23

0.62

PD810-HZ22-700-49-NYM

HZ22

700

60

0.59

172

1.62

0.22

0.33

PD810-HZ22W-700-47A-SYM

HZ22W

700

20

0.33

95

6.28

0.11

0.12

PD820-HZ23-650-47A-SYM

HZ23

650

95

0.91

474

2.86

0.14

0.21

PD810-HZ27-700-47A-NYM

HZ27

700

30

0.50

390

1.40

0.24

0.20

HPG Mine








Au (g/t) 

PD2-H17-580-4NYM

H17

580

55

0.91

31

4.35

0.04

0.26

PD3-H17-310-32NYM

H17

310

24

2.27

162

10.79

3.02

1.40

PD3-H17-251-10NYM

H17

251

61

1.53

66

5.44

2.59

1.13

PD3-H17-200-12NYM

H17

200

50

0.82

63

3.42

0.33

0.58

PD3-H17-150-10NYM

H17

150

102

1.55

48

2.90

3.77

0.94

LMW Mine









XPDS-LM17-770-26SYM

LM17

770

50

0.78

115

1.97

0.18


XPDS-LM17-675-26SYM

LM17

675

25

0.74

83

1.53

0.06


XPDN-LM19W1-700-3NYM

LM19W1

700

80

1.01

514

3.22

0.86


SJ969-LM19W2-600-120NYM

LM19W2

600

35

0.47

41

4.92

0.12


SJ969-LM19W2-500-114SYM

LM19W2

500

20

1.05

369

3.71

0.29


PD969SJ-LM31-550-114SNYM

LM31

550

20

0.36

291

6.92

0.21


PD969SJ-LM31-550-114NYM

LM31

550

40

0.46

230

6.56

0.06


PD924-T27E-924-112SYM

T27E

924

45

0.84

194

4.48

0.38


 

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


| Trading Symbol: TSX: SVM    NYSE AMERICAN: SVM VANCOUVER , Sept. 5, 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...&topic=business_finance">Digg This Article
 -- Published: Tuesday, 5 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

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