SILVERCORP REPORTS 2021 DRILLING AT TLP MINE HITS MULTIPLE HIGH-GRADE SILVER AND GOLD ZONES

·15 min read

Trading Symbol

TSX: SVM


NYSE American: SVM

VANCOUVER, BC, Jan. 27, 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 TLP mine. Extensive exploration drilling and tunneling are ongoing at the TLP mine and all other mines in the Ying Mining District, Henan Province, China.

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

From June 1 to December 31, 2021, 43,573 metres ("m") from a total of 276 diamond drill holes, including 218 underground holes and 58 surface holes, were completed at the TLP mine. Assay results for 270 holes have been received, with 202 holes intercepting mineralization. The Company also received assay results for 35 holes pending from the previous drilling program at the TLP mine from October 1, 2020 to May 31, 2021 disclosed in the Company's news release dated June 1, 2021. Currently, there are 13 rigs drilling at the TLP 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 to easily obtain ore; 2) drill for high-grade silver-lead-zinc veins within the resource area; 3) drill for silver-lead-zinc veins in the resource area at higher elevations near the surface where there are limited drill holes from previous drilling programs; and 4) drill for high-grade silver-lead-zinc veins at the northwest side of the resource area to expand the resources.

Drilling Above or Beneath Previously Mined Stopes

Most holes drilled during the 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 southwest-striking T15 series, T16 series, T17W, T11, T20, T21, T30, T3 series, T4 series, T5 series, T1, and T2, and the north-northwest-striking T14 series, T22, T28, and T31 series. Drilling discovered additional splay and parallel vein structures T16E3, T4E, T4W, T5E2, and T5a. This drilling has resulted in a significant amount of upgraded resources for near-term mine planning and production. Since access tunnels are already in place, the upgraded high-grade resource blocks can quickly be converted to reserves and mined.

Highlights of the high-grade intercepts at the TLP mine:

  • Underground hole ZKG0712 intersected a 1.36 m interval (1.03 m true width) of vein T11 grading 2,042 grams per tonne ("g/t") silver ("Ag"), 36.86% lead ("Pb"), 6.73% zinc ("Zn"), 0.43 g/t gold ("Au"), and 0.83% copper ("Cu") from 211.32 m depth, at an elevation of 632 m;

  • Underground hole ZKG4T1601 intersected a 4.03 m interval (2.27 m true width) of vein T16 grading 1,003 g/t Ag, 8.93% Pb, 0.83% Zn, 0.16 g/t Au, and 0.10% Cu from 79.56 m depth, at an elevation of 762 m;

  • Underground hole ZKG0305 intersected a 1.11 m interval (1.11 m true width) of vein T15W grading 1,597 g/t Ag, 14.71% Pb, 0.39% Zn, 0.08 g/t Au, and 0.41% Cu from 44.89 m depth, at an elevation of 782 m;

  • Underground hole ZKT0210 intersected a 3.59 m interval (3.57 m true width) of vein T3 grading 581 g/t Ag, 8.83% Pb, 0.63% Zn, 0.05 g/t Au, and 0.05% Cu from 250.35 m depth, at an elevation of 787 m; and

  • Underground hole ZKG0832 intersected a 1.40 m interval (0.95 m true width) of vein T15W grading 994 g/t Ag, 29.33% Pb, 0.77% Zn, 0.05 g/t Au, and 0.11% Cu from 70.64 m depth, at an elevation of 810 m.

Drilling Silver-Lead-Zinc Veins within the Resource Area Intersected Unexpected High-Grade Gold Veins

Drilling intersected two types of gold mineralization in gold-silver-lead-zinc veins and gold veins, respectively. The former is thought to be formed by gold mineralization in the vein structures which was then overprinted by silver-lead-zinc mineralization with quartz-sericite alteration. Most of this type of gold mineralization occurs at elevations between 700 m and 760 m. The latter mineralization is predominantly composed of gold with no or low silver-lead-zinc mineralization in shear structures associated with quartz-ankerite alteration at higher elevations above 830 m.

Highlights of the high-grade gold and gold-silver-lead-zinc intercepts within the TLP resource area:

  • Surface hole ZKTDB3504 intersected a 1.46 m interval (true width unknown) of an unknown gold vein grading 8 g/t Ag, 0.02% Pb, 0.02% Zn, 13.96 g/t Au, and 0.01% Cu from 91.12 m depth, at an elevation of 909 m;

  • Underground hole ZKT0016 intersected a 1.01 m interval (0.79 m true width) of gold vein T1W grading 12 g/t Ag, 0.12% Pb, 0.02% Zn, 13.91 g/t Au, and 0.01% Cu from 95.26 m depth, at an elevation of 861 m;

  • Underground hole ZKT1124 intersected a 2.04 m interval (1.70 m true width) of vein T2 grading 281 g/t Ag, 3.32% Pb, 0.52% Zn, 6.83 g/t Au, and 0.59% Cu from 56.78 m depth, at an elevation of 749 m; and

  • Underground hole ZKT1351 intersected a 1.31 m interval (0.88 m true width) of vein T1W1 grading 7 g/t Ag, 0.02% Pb, 0.03% Zn, 6.09 g/t Au, and 0.01% Cu from 97.95 m depth, at an elevation of 836 m.

Near Surface Silver-Lead-Zinc Veins Intersected by Surface and Underground Drilling within the TLP Resource Area

Surface and underground diamond drilling tested certain blocks near the surface in the central and northeast parts of the TLP resource area, and intersected high-grade silver-lead-zinc veins T1, T2, T3 series, T4, T5, and T20. The surface holes also intersected thick mineralization in T2 and T3. Surface hole ZKTDB0605, for instance, intersected vein T3 with a true width of 7.44 m. The purpose of this drilling is to extend the resources to higher elevations within the current resource area. The aforementioned drilling also discovered T5E2, a splay and parallel vein to T5.

Highlights of the high-grade/thick silver-lead-zinc intercepts near surface at the TLP mine:

  • Surface hole ZKTDB2001 intersected a 0.87 m interval (0.82 m true width) of vein T3 grading 2,871 g/t Ag, 2.47% Pb, 0.79% Zn, 0.05 g/t Au, and 1.63% Cu from 157.40 m depth, at an elevation of 1,027 m;

  • Surface hole ZKTDB0608 intersected a 3.38 m interval (1.42 m true width) of vein T2W2 grading 1,052 g/t Ag, 4.38% Pb, 0.14% Zn, 0.05 g/t Au, and 0.10% Cu from 164.11 m depth, at an elevation of 1,075 m;

  • Surface hole ZKTDB0605 intersected a 9.45 m interval (7.44 m true width) of vein T3 grading 168 g/t Ag, 1.41% Pb, 0.18% Zn, 0.05 g/t Au, and 0.02% Cu from 25.96 m depth, at an elevation of 1,144 m;

  • Surface hole ZKTDB0601 intersected a 7.23 m interval (6.81 m true width) of vein T2 grading 133 g/t Ag, 2.63% Pb, 0.11% Zn, 0.02 g/t Au, and 0.01% Cu from 19.16 m depth, at an elevation of 1,151 m; and

  • Underground hole ZKT0442 intersected a 29.93 m interval (24.51 m true width) of vein T1W1 grading 104 g/t Ag, 1.35% Pb, 0.27% Zn, 0.05 g/t Au, and 0.02% Cu from 26.72 m depth, at an elevation of 862 m.

Drilling Intersected High-Grade Silver-Lead-Zinc Veins at the Northwest Side of the Resource Area

At the northwest side of the resource area, drilling intersected high-grade silver-lead-zinc vein T33, and its parallel vein T33W3. This drilling is to support the Company's strategy to expand the resources laterally.

Table 1: Assay results for 146 drill holes from the TLP mine

Hold ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

True
Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

Au
(g/t)

Cu
(%)

Vein

ZKG0129

66.86

67.74

925

0.88

0.87

405

2.12

1.84

0.03

0.03

T16E

ZKG0302

85.58

88.70

730

3.12

2.30

235

2.34

0.28

0.08

0.04

T11

ZKG0303

62.11

62.89

779

0.78

0.72

190

0.49

0.08

0.12

0.02

T11

ZKG0305

44.89

46.00

782

1.11

1.11

1,597

14.71

0.39

0.08

0.41

T15W

ZKG0316

100.52

102.76

710

2.24

1.78

337

4.06

1.29

0.27

0.11

T11

ZKG0316

112.42

113.05

699

0.63

0.47

486

0.54

0.09

0.53

0.03

T11E1

ZKG0316

112.42

113.05

699

0.63

0.47

486

0.54

0.09

0.53

0.03

T11E1

ZKG0317

62.54

64.03

752

1.49

1.37

164

1.74

0.26

0.05

0.05

T15W

ZKG0334

173.55

174.22

629

0.67

0.66

1,608

8.25

1.41

0.11

0.08

T16

ZKG0335

248.22

249.14

619

0.92

0.70

240

15.94

1.12

0.04

0.16

T15W

ZKG0337

285.40

286.16

563

0.76

0.62

75

5.92

0.14

0.02

0.14

T14E

ZKG0339

40.05

41.35

623

1.30

1.09

444

0.16

0.09

0.37

0.01

T17W

ZKG0341

34.57

35.21

629

0.64

0.56

154

0.45

0.26

0.03

0.02

T17W

ZKG0341

110.44

111.18

582

0.74

0.62

81

1.87

0.12

0.27

0.04

T14

ZKG0342

41.58

42.10

624

0.52

0.42

2,369

2.54

1.36

3.37

0.09

T17W

ZKG0346

80.47

81.58

610

1.11

0.96

51

2.12

0.14

0.05

0.05

T15W4

ZKG0702

202.87

203.58

635

0.71

0.66

130

8.39

0.94

0.53

0.18

T11

ZKG0703

18.03

19.54

780

1.51

1.50

216

2.08

0.73

0.07

0.02

T16

ZKG0706

164.75

165.27

680

0.52

0.50

126

2.90

0.44

0.10

0.06

T14E

ZKG0712

211.32

212.68

632

1.36

1.03

2,042

36.86

6.73

0.43

0.83

T11

ZKG0813

49.46

50.76

789

1.30

1.00

240

1.38

0.58

0.05

0.08

T11

ZKG0715

170.81

171.47

723

0.66

0.53

641

1.51

0.97

0.72

0.10

T11

ZKG0814

35.87

37.12

791

1.25

1.14

154

1.86

0.20

0.05

0.03

T15

ZKG0814

52.19

52.89

787

0.70

0.65

187

0.09

0.05

0.05

0.02

T11

ZKG0828

112.88

113.49

956

0.61

0.33

934

7.81

0.82

0.02

0.33

T4

ZKG0830

86.63

88.33

956

1.70

1.18

328

1.89

0.06

0.05

0.07

T5

ZKG0832

70.64

72.04

810

1.40

0.95

994

29.33

0.77

0.05

0.11

T15W

ZKG0833

13.79

14.72

827

0.93

0.72

40

3.24

0.71

0.03

0.01

T11

ZKG0833

78.14

79.18

812

1.04

0.75

695

10.91

1.09

0.03

0.12

T15W3

ZKG0841

24.32

24.86

830

0.54

0.54

308

1.59

0.44

0.05

0.01

T16E3 [1]

ZKG0841

88.09

88.63

807

0.54

0.54

100

2.38

0.34

0.05

0.01

T14E

ZKG0843

44.97

49.65

823

4.68

4.67

264

3.34

0.16

0.05

0.05

T16E2

ZKG0843

53.68

54.63

820

0.95

0.93

118

0.74

0.08

0.05

0.02

T15W1

ZKG0843

83.02

83.97

809

0.95

0.94

151

0.78

0.30

0.05

0.02

T14E

ZKG0845

47.95

48.49

825

0.54

0.53

591

1.10

0.48

0.02

0.06

T15W1

ZKG0943

167.89

169.91

681

2.02

0.41

244

8.54

0.64

0.32

0.09

T14E

ZKG0944

172.45

173.04

680

0.59

0.56

87

10.48

1.17

0.12

0.05

T14E

ZKG1017

3.46

4.54

955

1.08

0.68

331

0.51

0.35

0.05

0.05

T16E

ZKG1018

7.71

8.67

955

0.96

0.96

660

1.24

0.32

0.05

0.05

T16E

ZKG1018

57.29

57.91

946

0.62

0.61

171

1.63

0.20

0.05

0.04

T16

ZKG1019

18.36

19.06

954

0.70

0.56

2,744

4.50

0.95

0.03

0.27

T16E

ZKG1020

1.86

2.45

955

0.59

0.53

233

0.50

0.63

0.02

0.05

T16E1

ZKG1020

86.85

88.58

915

1.73

1.64

133

1.43

0.23

0.02

0.04

T15W

ZKG1021

2.49

3.18

954

0.69

0.67

841

4.07

1.70

0.03

0.14

T16E1

ZKG1021

82.88

83.53

915

0.65

0.65

659

6.69

0.42

0.03

0.04

T15W3

ZKG1416

78.17

79.37

914

1.20

0.96

65

1.77

0.23

0.05

0.02

T15W

ZKG1417

75.43

76.89

930

1.46

1.12

459

0.66

0.08

0.14

0.13

T15W

ZKG1417

141.45

142.13

906

0.68

0.51

172

1.12

0.62

0.05

0.01

T11E

ZKG1425

116.03

117.06

948

1.03

0.53

53

5.60

0.14

0.03

0.01

T15

ZKG1805

13.32

15.06

833

1.74

1.00

118

0.85

0.10

0.05

0.03

T11E4

ZKG1805

202.36

203.05

787

0.69

0.40

172

2.04

0.75

0.05

0.04

T17

ZKG1805

281.67

282.46

768

0.79

0.70

139

0.81

0.32

0.05

0.05

T22Ea

ZKG1806

285.68

287.26

715

1.58

0.81

1,898

8.02

2.19

0.05

0.49

T22E

ZKG1806

292.38

293.54

712

1.16

1.03

108

2.28

0.27

0.02

0.02

T22E1

ZKG1807

243.27

243.89

773

0.62

0.62

108

1.28

0.43

0.03

0.25

T16

ZKG4T1601

79.56

83.59

762

4.03

2.27

1,003

8.93

0.83

0.16

0.10

T16

incl

80.28

81.54

761

1.26

0.71

2,631

20.80

1.89

0.36

0.26

T16

ZKT0015

65.82

67.35

872

1.53

1.08

77

1.89

0.10

0.07

0.02

T3

ZKT0015

71.25

72.64

870

1.39

0.98

949

0.61

0.17

0.04

0.05

T22

ZKT0016

95.26

96.27

861

1.01

0.79

12

0.12

0.02

13.91

0.01

T1W

ZKT0210

77.67

78.45

860

0.78

0.77

725

0.47

0.10

0.33

0.17

T1W1

ZKT0210

250.35

253.94

787

3.59

...

3.57

581

8.83

0.63

0.05

0.05

T3

ZKT0336

49.08

50.63

1,010

1.55

1.54

108

1.05

0.13

0.05

0.03

T3E

ZKT0344

57.18

61.17

981

3.99

0.63

130

0.87

0.05

0.03

0.02

T3E

ZKT0424

98.15

99.82

805

1.67

1.32

67

1.72

0.18

0.03

0.16

T1W1

ZKT0427

141.82

142.41

916

0.59

0.51

1,794

0.19

0.06

0.13

0.28

T33

ZKT0431

3.94

4.85

891

0.91

0.85

88

1.02

0.08

0.03

0.01

T23

ZKT0433

36.77

37.67

873

0.90

0.86

134

0.96

0.41

0.05

0.02

T23a

ZKT0433

122.92

125.61

829

2.69

2.05

174

0.76

0.47

0.08

0.07

T26

ZKT0442

26.72

56.65

862

29.93

24.51

104

1.35

0.27

0.05

0.02

T1W1

ZKT0443

0.00

2.01

898

2.01

0.49

183

0.72

0.16

0.05

0.03

T28

ZKT04T2801

141.74

143.47

878

1.73

1.72

751

3.36

0.40

0.07

0.25

T28

ZKT04T2802

137.53

138.50

864

0.97

0.73

41

2.80

0.26

0.05

0.01

T28

ZKT04T2803

127.27

128.40

876

1.13

0.85

90

1.35

0.08

0.03

0.04

T1W1

ZKT0811

2.74

3.68

...