PR Newswire
VANCOUVER, BC
,
Jan. 24, 2022
/PRNewswire/ – 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 SGX mine. Extensive exploration drilling and tunneling are ongoing at the SGX mine and all other mines in the Ying Mining District,
Henan Province
,
China
.
From
July 1 to December 31, 2021
, 52,634 metres (“m”) from a total of 327 diamond drill holes, including 272 underground holes and 55 surface holes, were completed at the SGX mine. Assay results for 209 holes have been received, with 102 holes intercepting mineralization. The Company also received assay results for 33 holes pending from the previous drilling program at the SGX mine from
October 1, 2020
to
June 30, 2021
disclosed in the Company’s news release dated
July 6, 2021
. Currently, there are 19 rigs drilling at the SGX 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; 2) drill for silver-lead-zinc veins in the resource area at higher elevations closer to surface where there are limited drill holes from previous drilling programs; 3) drill for gold-silver veins in the resource area that were not prioritized in previous drilling programs; and 4) drill step-outs to the east of the resource area to confirm the continuity of the newly discovered gold-silver veins.
Drilling Above or Beneath Previously Mined Stopes and Near Surface Silver-Lead-Zinc Veins within the Resource Area
Most holes drilled during this 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 northwest-dipping S2 series, S6 series, S7 series, S8 series, S14 series, S18 series, S19 series, S21 series, east-dipping S31, S28, S29, and S32 veins, which have resulted in a significant amount of upgraded resources. Since access tunnels are already in place, any high-grade mineralization discovered can quickly be converted to reserves and mined.
Highlights of the high-grade silver-lead-zinc intercepts at the SGX mine:
-
Hole ZK02AS6E1007
intersected a
3.19 m
interval (
1.35 m
true width) of vein S31 grading 2,532 grams per tonne (“g/t’) silver (“Ag”), 0.69% lead (“Pb”), 14.38% zinc (“Zn”), 0.05 g/t gold (“Au”), and 0.12% copper (“Cu”) from
58.35 m
depth, at an elevation of
372 m
; -
Hole ZK12S7001
intersected a
2.02 m
interval (
1.65 m
true width) of vein S7a1 grading 1,315 g/t Ag, 14.36% Pb, 0.84% Zn, 0.24 g/t Au, and 0.23% Cu from
161.50 m
depth, at an elevation of
300 m
; -
Hole ZK62S3101
intersected a
0.97 m
interval (
0.89 m
true width) of vein S31 grading 1,764 g/t Ag, 36.49% Pb, 5.72% Zn, 0.13 g/t Au, and 0.27% Cu from
80.19 m
depth, at an elevation of
239 m
; -
Hole ZK04AS6E1002
intersected a
0.84 m
interval (
0.76 m
true width) of vein S2 grading 2,497 g/t Ag, 29.05% Pb, 5.78% Zn, 0.12 g/t Au, and 0.23% Cu from
3.31 m
depth, at an elevation of
353 m
; -
Hole ZK50S2914
intersected a
1.22 m
interval (
0.88 m
true width) of vein S29 grading 2,097 g/t Ag, 1.44% Pb, 20.61% Zn, 0.32 g/t Au, and 0.12% Cu from
218.16 m
depth, at an elevation of
341 m
; and -
Hole ZK04AS6E1005
intersected a
3.50 m
interval (
3.35 m
true width) of vein S2 grading 291 g/t Ag, 7.41% Pb, 0.94% Zn, 0.12 g/t Au, and 0.04% Cu from
3.04 m
depth, at an elevation of
354 m
.
Drilling for Previous Low Priority Gold-Silver Veins within the Resource Area and Step-Out Drilling Intersecting Gold-Silver Veins
400 m
to the East of the Resource Area
The drilling continued intersecting and extending the east dipping gold-silver S16 series, including S16W, S16W1, S16E, and S16E3. A total of 44 holes, including 38 holes from this period and six holes pending from the previous drilling program, targeted the S16 vein series. Together with the tunneling programs, the drill programs defined a mineralized block with a N-S strike length of
500 m
, and a
150 m
down-dip extension. Drilling was focused within the central portion of the block (
300 m
by
100 m
), with drill hole spacing ranging between
15 m
by
15 m
and
25 m
by
25 m
. Assay results for 33 holes from the previous drilling program were returned, with 23 holes intersecting gold mineralization.
The Company’s No. 1 mill has been upgraded by installing a Knelson Gravity Concentrator to maximize gold-silver ore recovery from the SGX, HPG, LMW, and DCG mines.
Step-out drilling confirmed the continuity of the gold-silver bearing S11 and S11E veins, approximately
400 m
east of the resource area. The S11 series gold-silver veins are sub-vertical and strike along a northeast-southwest trend.
Highlights of the gold silver intercepts at the SGX mine:
-
Hole ZK68AS16W002
intersected a
5.38 m
interval (
5.36 m
true width) of vein S16W grading 52 g/t Ag, 1.08% Pb, 0.39% Zn, 3.93 g/t Au, and 0.01% Cu from
37.67 m
depth, at an elevation of
340 m
; -
Hole ZK74S16W08
intersected a
1.74 m
interval (
1.58 m
true width) of vein S16E3 grading 3 g/t Ag, 0.01% Pb, 0.01% Zn, 5.57 g/t Au, and 0.01% Cu from
92.90 m
depth, at an elevation of
246 m
; and -
Hole ZK66AS16W002
intersected a
1.33 m
interval (
1.30 m
true width) of vein S16W grading 56 g/t Ag, 0.34% Pb, 0.72% Zn, 4.61 g/t Au, and 0.04% Cu from
67.13 m
depth, at an elevation of
341 m
.
Table 1: Selected intercepts from the drilling programs at the SGX mine
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Tunneling Programs at the SGX Mine
A total of
6,207 m
of exploration tunnels were developed at the SGX 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 SGX mine
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Table 3: Selected mineralized zones exposed by drift tunneling at the SGX mine
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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
.
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View original content to download multimedia:
https://www.prnewswire.com/news-releases/silvercorp-intersects-1-35-metres-true-width-grading-2-532-grams-per-tonne-silver-and-14-38-zinc-from-vein-s31-at-the-sgx-mine-301466219.html
SOURCE Silvercorp Metals Inc
