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