SILVERCORP INTERCEPTS NEW HIGH-GRADE STRUCTURES AT LMW MINE, YING MINING DISTRCT, CHINA, INCLUDING VEIN LM26: 5.39 METRES TRUE WIDTH GRADING 2,896 GRAMS PER TONNE SILVER AND 2.58% COPPER

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

VANCOUVER, BC, Oct. 6, 2022 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report assay results from its ongoing drilling program at the LMW mine within the Ying Mining District in China.  From October 1, 2021 to September 30, 2022, a total of 56,803 metres ("m") in 416 diamond drill holes, including 372 underground holes and 44 surface holes, were completed at the LMW mine. Assay results for 378 holes have been received and selected results are presented in Table 1 below.  Currently, two surface and eight underground rigs are drilling at the LMW mine.

The assay results released here have not been included in the most recent "MINERAL RESERVES AND RESOURCES" update with a cut-off date of December 31, 2021 (see news release dated September 21, 2022).

1)  New Discovery of High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins, including W1, W2, W2W, W6, W6E, W6W, and W18.  Among these, veins W2, W1 and W18 may have lengths of over 800 m along strike and 400 m down-dip from 1100 m to 700 m elevation.  To pursue this new discovery, the Company has started to develop two new horizontal tunnels from surface at 1040 m and 988 m elevations, and a new branch off-ramp from 800 m to 700 m elevations to access these veins.

Highlights of these new discovery holes are as follows:

  • Hole ZKX0818 intersected a 3.18 m interval (2.82 m true width) of vein W2 grading 2,238 grams per tonne ("g/t") silver ("Ag"), 5.90% lead ("Pb"), 0.61% zinc ("Zn"), and 0.36% copper ("Cu") at the 1,045 m elevation;

  • Hole ZKX0634 intersected a 4.03 m interval (3.43 m true width) of vein W6W grading 970 g/t Ag, 16.20% Pb, 0.60% Zn, and 0.29% Cu, at the 1,031 m elevation

  • Hole ZKX0636 intersected a 1.18 m interval (0.91 m true width) of vein W1 grading 2,511 g/t Ag, 3.45% Pb, 1.01% Zn, and 0.38% Cu, at the 963 m elevation; and

  • Hole ZKX14214 intersected a 6.58 m interval (1.19 m true width) of vein W18 grading 646 g/t Ag, 3.12% Pb, 0.3% Zn, and 0.16% Cu, at the1039 m elevation.

2)  Drilling of Low Angle Gold-Copper-Silver Veins Further Improved Continuity of Mineralization

Drilling of the low angle copper-gold-silver veins of LM21, LM22, LM26 and LM50 was designed to better understand this new type of mineralization which is strongly altered by silicification, with less obvious contact with host rocks of Archean granitic gneisses.  The lower angle copper-gold structures were also offset slightly by sub-vertical north-west and north-east trending silver-lead veins which have been the focus of mining production at LMW.  With the drilling program designed to expand gold-copper structures, and with better understanding, the Company is learning how to mine these low angle gold-copper bodies.

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

  • Hole ZKX03X021 intersected a 7.03 m interval (5.39 m true width) of vein LM26 grading 0.17 g/t gold ("Au"), 2,896 g/t Ag, and 2.58% Cu, at the 602 m elevation;

  • Hole ZKX11238 intersected a 9.54 m interval (3.37 m true width) of vein LM26 grading 0.98 g/t Au, 1,323 g/t Ag, 7.45% Pb, 0.55% Zn, and 0.32% Cu, at the 670 m elevation;

  • Hole ZKX11223 intersected a 6.57 m interval (3.2 m true width) of vein LM26 grading 1.23 g/t Au, 1,780 g/t Ag, 16.71% Pb, 0.69% Zn, and 0.23% Cu, at the 670 m elevation;

  • Hole ZKX07X031 intersected an 8.10 m interval (4.06 m true width) of vein LM50 grading 1.26 g/t Au, 674 g/t Ag, 1.28% Pb, 0.21% Zn, and 0.09% Cu at the 799 m elevation;

  • Hole ZKX07X021 intersected an 1.01 m interval (0.65 m true width) of vein LM50 grading 19.2 g/t Au and 15 g/t Ag at the 791 m elevation;

  • Hole ZKX05X079 intersected a 4.21 m interval (3.42 m true width) of vein LM50 grading 6.36 g/t Au and 11 g/t Ag at the 794 m elevation;

  • Hole ZKX05X098 intersected a 0.77 m interval (0.70 m true width) of vein LM22 grading 29.00 g/t Au, 10 g/t Ag, and 1.21% Cu at the 850 m elevation; and

  • Hole ZKX05X096 intersected a 0.51 m interval (0.38 m true width) of vein LM22 grading 32.50 g/t Au, 2 g/t Ag, and 0.05% Cu, at the 848 m elevation.

3)  Drilling Above or Beneath Previously Mined Stopes

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 southwest-striking LM7 series, LM12 series and LM17 series of veins, and the northwest-striking LM8 series, LM19 and LM20E.

Highlights of the high-grade silver-lead-zinc mineralization in the production areas:

  • Hole ZKX07X003 intersected a 13.31 m interval (12.80 m true width) of vein LM7 grading 365 g/t Ag, 0.71% Pb, 0.13% Zn, 0.06 g/t Au, and 0.33% Cu at the 778 m elevation;

  • Hole ZKX0733 intersected a 1.46 m interval (1.37 m true width) of vein LM12E grading 4,549 g/t Ag, 1.19% Pb, 0.24% zinc ("Zn"), 0.49 g/t Au, and 0.10% copper ("Cu") at the 645 m elevation;

  • Hole ZKX0058 intersected a 3.40 m interval (3.39 m true width) of vein LM7W grading 1,181 g/t Ag, 2.49% Pb, 0.24% Zn, 0.12 g/t Au, and 0.21% Cu at the 771 m elevation;

  • Hole ZKX05X075 intersected a 4.16 m interval (3.72 m true width) of vein LM7 grading 360 g/t Ag, 1.75% Pb, 0.59% Zn, 9.15 g/t Au, and 0.24% Cu at the 764 m elevation; and

  • Hole ZKX09X001 intersected a 5.78 m interval (5.53 m true width) of vein LM7W grading 531 g/t Ag, 1.06% Pb, 0.37% Zn, 0.02 g/t Au, and 0.19% Cu at the 575 m elevation.

4)  Drilling Intersected High-Grade Silver-Lead-Zinc Veins and a New Gold Structure at the East Side of the Resource Area

At the east side of the resource area, drilling intersected high-grade silver-lead-zinc vein LM41E and the parallel silver-lead-zinc veins LM41E1 and LM41E1Wa with true widths up to 2.40 m.

While drilling these LM41 series high grade silver-lead-zinc veins, a new gently dipping gold vein has been discovered with three drill holes, ZKX10944, ZKX10735, and ZKX10739 intercepting high grade gold, which are approximately 450 m east of those intercepts on the LM50 gold structure.

Highlights of the high-grade silver-lead-zinc mineralization at the northwest and east sides of the LMW mine:

  • Hole ZKX1166 intersected a 1.36 m interval (1.23 m true width) of vein LM41E grading 2,415 g/t Ag, 2.61% Pb, 0.40% Zn, 0.05 g/t Au, and 0.90% Cu at the 778 m elevation; and

  • Hole ZKX1143 intersected a 3.11 m interval (2.40 m true width) of vein LM41E grading 993 g/t Ag, 1.35% Pb, 0.54% Zn, 0.05 g/t Au, and 0.12% Cu at the 754 m elevation.

  • Hole ZKX09X033 intersected a 1.3 m interval (0.88 m true width) of vein LM41EWa grading 1976 g/t Ag, 1.74% Pb, 0.45% Zn, 0.79 g/t Au, and 0.23% Cu at the 706 m elevation.

  • Hole ZKX10944 intersected a 2.13 m interval (2.0 m true width) of a new gently dipping gold vein grading 478 g/t Ag, 2.14% Pb, 0.9% Zn, and 5.97 g/t Au, at the 763 m elevation

  • Hole ZKX10735 intersected a 1.18 m interval (1.18 m true width) of the new gently dipping gold vein grading 5.37 g/t Au at the 760 m elevation

  • Hole ZKX10739 intersected a 0.95 m interval (0.95 m true width) of the new gently dipping gold vein grading 5.65 g/t Au at the 754 m elevation

Table 1: Selected intercepts from the 2022 drilling program at the LMW mine

Hole ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

True Width
(m)

 Ag
(g/t)

Pb
(%)

Zn
(%)

Au
(g/t)

Cu
(%)

Vein

Ore Type

High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

ZKX0432

185.86

186.97

787

1.11

0.75

323

0.75

0.86

0.03

0.06

W1

Ag-Pb-Zn

ZKX0438

144.83

145.86

862

1.03

0.96

315

1.83

0.22

0.05

0.03

W1

Ag-Pb-Zn

ZKX0460

161.61

163.12

849

1.51

1.12

217

6.49

0.19

0.03

0.03

W1

Ag-Pb-Zn

ZKX0463

171.36

173.68

817

2.32

1.91

510

4.26

2.25

0.07

0.12

W1

Ag-Pb-Zn

ZKX0636

146.74

147.92

963

1.18

0.91

2,511

3.45

1.01

0.05

0.38

W1

Ag-Pb-Zn

ZKX0815

142.93

143.64

985

0.71

0.49

73

12.84

0.07

0.05

0.02

W1

Ag-Pb-Zn

ZKX0819

18.49

21.56

1,082

3.07

2.17

178

1.00

0.04

0.01

0.06

W1

Ag-Pb-Zn

ZKX0820

21.73

24.45

1,077

2.72

1.64

706

1.02

0.12

0.05

0.26

W1

Ag-Pb-Zn

ZKX1005

53.60

54.58

897

0.98

0.95

381

5.30

0.13

0.05

0.04

W1

Ag-Pb-Zn

ZKX14213

120.64

121.77

911

1.13

0.70

396

0.39

0.06

0.05

0.03

W1

Ag-Pb-Zn

ZKX0815

137.63

138.40

988

0.77

0.53

1,891

1.78

0.84

0.05

0.31

W18

Ag-Pb-Zn

ZKX14214

139.43

146.01

1,039

6.58

1.19

646

3.12

0.30

0.05

0.16

W18

Ag-Pb-Zn

ZKX0819

61.43

61.93

1,049

0.50

0.35

1,212

1.27

0.49

0.01

0.49

W18E

Ag-Pb-Zn

ZKX0817

4.20

5.12

1,095

0.92

0.79

300

0.50

0.03

0.05

0.08

W1E

Ag-Pb-Zn

ZKX0818

69.16

70.07

1,055

0.91

0.80

539

0.33

0.18

0.05

0.08

W1E

Ag-Pb-Zn

ZKX0819

84.20

85.62

1,031

1.42

1.02

198

0.32

0.06

0.01

0.04

W1E

Ag-Pb-Zn

ZKX0650

105.92

106.52

993

0.60

0.32

1

0.01

0.01

7.13

0.09

W1E2

Ag-Pb-Zn

ZKX0450

69.19

71.38

1,031

2.19

1.36

1,216

6.77

0.61

0.05

0.18

W2

Ag-Pb-Zn

ZKX0465

58.47

60.69

1,041

2.22

1.26

831

2.70

0.26

0.02

0.29

W2

Ag-Pb-Zn

ZKX0636

103.95

104.67

993

0.72

0.56

667

0.56

0.27

2.61

0.38

W2

Ag-Pb-Zn

ZKX0650

64.26

65.46

1,022

1.20

0.64

256

0.47

0.16

0.01

0.03

W2

Ag-Pb-Zn

ZKX0651

69.77

70.70

1,052

0.93

0.54

1,537

0.60

0.15

0.03

0.34

W2

Ag-Pb-Zn

ZKX0818

84.14

87.32

1,045

3.18

2.82

2,238

5.90

0.61

0.07

0.36

W2

Ag-Pb-Zn

ZKX0819

118.25

119.25

1,005

1.00

0.72

1,622

1.96

0.20

0.01

0.04

W2

Ag-Pb-Zn

ZKX0039

126.57

127.39

879

0.82

0.77

80

4.30

2.75

0.03

0.01

W6

Ag-Pb-Zn

ZKX0046

132.12

133.44

817

1.32

0.75

73

6.62

0.39

0.05

0.01

W6

Ag-Pb-Zn

ZKX0431

198.49

199.92

825

1.43

1.18

471

1.04

0.36

0.05

0.19

W6

Ag-Pb-Zn

ZKX0454

175.59

176.32

861

0.73

0.66

367

5.75

1.21

0.21

0.04

W6

Ag-Pb-Zn

ZKX14005

141.48

142.40

924

0.92

0.87

307

2.37

0.32

0.05

0.10

W6

Ag-Pb-Zn

ZKX14404

104.79

106.35

893

1.56

1.56

150

2.34

1.22

0.05

0.03

W6

Ag-Pb-Zn

ZKX0454

186.46

187.85

856

1.39

1.25

398

0.81

0.16

0.05

0.03

W6E

Ag-Pb-Zn

ZKX0454

243.14

243.74

832

0.60

0.54

52

10.14

0.39

0.05

0.00

W6E2

Ag-Pb-Zn

ZKX0438

100.57

101.58

884

1.01

0.94

43

1.12

0.22

1.74

0.02

W6W

Ag-Pb-Zn

ZKX0439

98.03

98.78

910

0.75

0.74

483

3.22

0.95

0.05

0.12

W6W

Ag-Pb-Zn

ZKX0634

56.04

60.07

1,031

4.03

3.43

970

16.20

0.60

0.10

0.29

W6W

Ag-Pb-Zn

ZKX13630

137.23

137.74

1,014

0.51

0.45

1,077

4.84

0.48

0.02

0.54

W6W

Ag-Pb-Zn

Low Angle Gold-Copper-Silver Veins

ZKX0082

292.17

293.61

878

1.44

0.76

73

0.54

0.52

13.06

1.70

LM22

Au-Ag-Cu

ZKX05X096

77.81

78.32

848

0.51

0.38

2

0.01

0.02

32.50

0.05

LM22

Au-Ag-Cu

ZKX05X097

84.82

85.77

855

0.95

0.72

37

0.00

0.03

1.63

7.39

LM22

Au-Ag-Cu

ZKX05X098

76.67

77.44

850

0.77

0.70

10

0.00

0.01

29.00

1.21

LM22

Au-Ag-Cu

ZKX05X100

76.16

77.14

845

0.98

0.70

1

0.00

0.01

3.40

0.14

LM22

Au-Ag-Cu

ZKX0+A3:U198390

60.86

61.63

640

0.77

0.58

37

0.01

0.03

0.92

5.43

LM26

Au-Ag-Cu

ZKX0188

16.94

17.97

737

1.03

0.97

4

0.00

0.01

2.88

0.00

LM26

Au-Ag-Cu

ZKX0191

86.24

89.04

662

2.80

1.64

37

0.07

0.01

3.21

0.29

LM26

Au-Ag-Cu

ZKX03X021

98.88

105.91

602

7.03

5.39

2,896

0.15

0.12

0.17

2.58

LM26

Au-Ag-Cu

ZKX11046

43.05

43.92

668

0.87

0.73

214

1.34

0.11

0.03

0.02

LM26

Ag-Pb-Zn

ZKX11223

44.84

51.41

670

6.57

3.20

1780

16.71

0.69

1.23

0.23

LM26

Au-Cu-Ag

ZKX11238

44.05

53.59

670

9.54

3.37

1,323

7.45

0.55

0.98

0.32

LM26

Au-Ag-Cu

ZKX0251

20.25

22.01

784

1.76

1.20

140

3.19

0.29

1.38

0.12

LM50

Au-Ag

ZKX0341

165.20

166.10

737

0.90

0.60

15

0.01

0.02

5.59

1.74

LM50

Au-Ag

ZKX03X054

168.91

169.90

818

0.99

0.84

4

0.01

0.02

2.53

0.01

LM50

Au-Ag

ZKX03X055

164.35

165.47

803

1.12

...