Silvercorp Reports High-Grade Silver Drill Results at The TLP Mine

时间:2024-01-29

VANCOUVER, British Columbia  January 30, 2024 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) is pleased to report assay results from its ongoing diamond drilling program at the TLP mine within the Ying Mining District, China (Figure 1).

 

Highlights (all intersections are in core lengths)

 

High-grade intercepts of Ag mineralization in the Surface Zone (SF Zone):

  • Surface hole ZKTDB0102 intersected 2,186 grams per tonne (“g/t”) silver (“Ag”), 6.80% lead (“Pb”), 0.35% zinc (“Zn”), 0.11 g/t gold (“Au”), and 0.43% copper (“Cu”) over a 2.29 metre (“m”) interval of vein T1W2 at the 1,014 m elevation
  • Surface hole ZKTDB0207 intersected 948 g/t Ag, and 0.47% Pb over a 0.55 m interval of vein T28E at the 1,104 m elevation; and 1,453 g/t Ag, 4.58% Pb, 1.69% Zn, and 0.53% Cu over a 0.66 m interval of vein T1 at the 1,097 m elevation
  • Underground hole ZKT0839 intersected 1,646 g/t Ag, 2.92% Pb, 1.53% Zn, and 0.33% Cu over a 0.60 m interval of vein T14E at the 912 m elevation; and 1,045 g/t Au, 7.03% Pb, 0.58% Zn, 0.09 g/t Au, and 0.12% Cu over a 1.13m interval of vein T16E2 at the 897 m elevation, and
  • Underground hole ZKT1008 intersected 938 g/t Ag, 7.97% Pb, 0.62% Zn, 0.12 g/t Au, and 0.17% Cu over a 1.73 m interval of vein T14E at the 918 m elevation

High-grade Ag intercepts at the Production Zone (P Zone):

  • Underground hole ZKG1830 intersected 5,955 g/t Ag, 1.53% Pb, 0.98% Zn, 0.05 g/t Au, and 0.21% Cu over an 0.60 m interval of vein T22E2 at the 757 m elevation; and 1,737 g/t Ag, 12.60% Pb, 0.9% Zn, and 0.20 g/t Au over a 0.59 m interval of vein T16W at the 743 m elevation
  • Underground hole ZKG0324 intersected 442 g/t Ag, 9.65% Pb, 0.13% Zn, 0.10 g/t Au, and 0.09% Cu over a 3.24 m interval of vein T15W at the 773 m elevation, and
  • Underground hole ZKT1317 intersected 661 g/t Ag, 1.07% Pb, 0.68% Zn, 0.44 g/t Au, and 0.71% Cu over a 1.94 m interval of vein T1W1 at the 638 m elevation; and 1,004 g/t Ag, 2.43% Pb, 6.22% Zn, 0.70 g/t Au, and 0.20% Cu over a 0.52 m interval of vein T1 at the 631 m elevation


Figure 1: Location of the TLP mine within the Ying mining district.
 
From June 16 to December 31, 2023, a total of 23,742 m in 180 diamond drill holes, including 157 underground holes and 23 surface holes, were completed at the TLP mine. Assay results for 158 holes have been received, of which 101 holes intersected mineralized vein structures. Selected assay results are presented in Table 1 below.

 

This drilling program has been focused on two target areas: 1) silver-lead vein structures in the resource area at higher elevations, close to surface (SF Zone), which have seen limited exploration; and 2) infill drilling in the production area (P Zone), particularly above or below previously-mined stopes, where production stopped due to higher than modelled variability in grades, thicknesses, and attitudes of the vein structures (Figure 2).
 

  1. Drilling Near-Surface Ag-Pb Vein Structures within SF Zone

In addition to the 23 surface drill holes, which account for over 12.8% of the drill holes in this program, many underground holes drilled also targeted the vein structures at higher elevations above 900 m elevation. High-grade Ag-Pb vein structures intersected include the T1 series, T2, T3, T14 series, T15 series, T16 series, T23 series, T26 series, and T28 series (Table 1).


Figure 2: Location of the drill holes at the TLP mine applicable to the reporting period
 

  1. Drilling Above or Beneath Previously-Mined Stopes within P Zone

Most holes drilled during this period targeted blocks of known Ag-Pb vein structures that were previously missed due to limited drilling or tunneling, or changes in thickness, strikes and dips of the pay-zones in veins within the resource areas below the 900 m elevation. The high-grade intercepts are mainly associated with the northwest-dipping T1 series, T2 series, T3 series, T11 series, T15 series, T16 series, T23 series, and T31 series, and the east-dipping T14, T22 series, and T28 series. These intercepts are expected to significantly expand and upgrade resources. Since the ramps and access tunnels are already in place, these defined high-grade blocks could be quickly developed and mined.

 

Table 1: Selected intercepts at the TLP mine in the reporting period

Hole ID From
(m)
To
(m)
Elevation
(m)
interval
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Cu
(%)
Vein Zone
ZKG0142 89.70 90.44 581 0.74 449 2.22 1.23 0.68 0.34 T15W P
ZKG0207 121.60 122.10 585 0.50 78 2.33 0.24 0.09 0.23 T11E1 P
ZKG0207 167.08 167.62 581 0.54 171 1.11 0.21 0.57 0.04 T11E2 P
ZKG0320 46.08 47.73 775 1.65 198 2.05 0.46 0.05 0.04 T15W P
ZKG0324 46.00 49.24 773 3.24 442 9.65 0.13 0.10 0.09 T15W P
ZKG0324 77.12 78.09 754 0.97 127 0.93 0.11 0.05 0.01 T11 P
ZKG0327 65.45 66.05 788 0.60 245 0.47 0.01 0.12 0.01 T11 P
ZKG0815 183.80 184.33 722 0.53 68 4.93 0.22 0.01 0.01 T15W P
ZKG0818 178.84 179.35 714 0.51 1,143 2.75 0.35 0.22 0.11 T15W1 P
ZKG1611 25.89 27.16 748 1.27 387 1.07 0.28 0.05 0.18 T22E3 P
ZKG1612 57.19 57.70 748 0.51 232 0.55 0.03 0.05 0.03 T16W1 P
ZKG1613 123.64 124.19 743 0.55 477 0.70 0.22 0.05 0.04 T15W4 P
ZKG1811 2.07 2.59 761 0.52 183 1.15 0.11 0.05 0.03 T22E P
ZKG1812 1.82 3.50 762 1.68 525 1.34 0.25 0.05 0.05 T22E P
ZKG1830 15.37 15.97 757 0.60 5,955 1.53 0.98 0.05 0.21 T22E2 P
ZKG1830 68.16 69.25 747 1.09 80 2.70 0.24 0.05 0.02 T22E P
ZKG1830 87.68 88.27 743 0.59 1,737 12.60 0.09 0.20 0.04 T16W P
ZKG1833 137.76 138.79 738 1.03 634 1.10 0.19 0.01 0.06 T15W2 P
ZKG1844 70.07 71.26 735 1.19 223 2.67 0.12 0.05 0.13 T22E P
ZKG1844 86.14 86.70 729 0.56 1,089 2.30 1.57 0.05 0.09 T16W P
ZKG2009 75.96 77.43 815 1.47 7 0.07 0.01 2.26 0.01 T16 P
ZKG2011 87.34 87.85 728 0.51 648 0.45 0.93 0.03 0.02 T16W P
ZKG2204 149.99 150.49 823 0.50 386 0.52 0.12 0.01 0.03 T16W P
ZKG2206 156.66 157.38 787 0.72 77 1.80 0.17 0.05 0.03 T16W P
ZKG2405 110.07 110.57 830 0.50 69 1.78 6.66 0.41 0.09 T17W2 P
ZKT0109 23.30 23.83 890 0.53 376 9.76 0.05 0.01 0.01 T1W P
ZKT0109 33.16 33.73 889 0.57 292 6.43 0.11 0.01 0.01 T1 P
ZKT0109 121.00 121.69 882 0.69 296 1.77 0.27 0.01 0.01 T2W1 P
ZKT0827 41.17 42.79 917 1.62 295 1.72 0.19 0.01 0.01 T11 P
ZKT0840 12.83 13.78 917 0.95 107 0.78 0.14 0.05 0.01 T15 P
ZKT0840 109.34 109.89 878 0.55 47 4.22 0.17 0.05 0.01 T11E4 P
ZKT0843 5.78 6.42 920 0.64 245 0.42 0.12 0.05 0.01 T15W P
ZKT0843 14.80 15.58 916 0.78 846 0.82 0.26 0.05 0.13 T15 P
ZKT1007 105.96 107.63 910 1.67 440 4.02 0.93 0.05 0.13 T31W3 P
ZKT1009 205.80 206.30 816 0.50 201 5.04 0.18 0.05 0.06 T1W2 P
ZKT1010 73.02 73.52 888 0.50 22 10.14 0.10 0.05 0.01 T28 P
ZKT1010 166.09 166.60 877 0.51 149 5.32 0.27 0.05 0.03 T1W2 P
ZKT1166 115.99 116.59 640 0.60 85 1.48 0.31 0.35 0.24 T1W1 P
ZKT1316 120.49 121.09 642 0.60 231 2.48 0.12 0.16 0.12 T1W1 P
ZKT1317 84.92 85.50 643 0.58 222 0.03 0.01 0.05 0.01 T23 P
ZKT1317 104.42 105.08 640 0.66 194 1.70 0.04 0.49 0.02 T1W2 P
ZKT1317 114.72 116.66 638 1.94 661 1.07 0.68 0.44 0.71 T1W1 P
ZKT1317 134.53 135.03 635 0.50 148 1.47 0.07 0.26 0.48 T1W4 P
ZKT1317 164.10 164.62 631 0.52 1,004 2.43 6.22 0.70 0.20 T1 P
ZKT1338 124.37 125.62 646 1.25 146 0.38 0.21 0.26 0.12 T1W2 P
ZKT1338 134.58 135.09 645 0.51 383 1.19 1.48 0.63 0.20 T1W1 P
ZKT1516 53.54 54.21 650 0.67 236 2.38 0.13 0.10 0.13 T33E1 P
ZKT1516 147.10 150.04 639 2.94 108 0.67 0.27 0.42 0.33 T1W1 P
ZKT1516 208.70 209.25 631 0.55 269 1.68 1.67 1.33 0.12 T2W P
ZKT3311 37.49 38.60 743 1.11 84 1.14 0.12 0.13 0.04 T23 P
ZKT3312 36.97 37.52 742 0.55 244 0.73 0.75 0.72 0.03 T23 P
ZKT3312 88.34 89.12 733 0.78 29 3.96 0.06 0.05 0.13 T2 P
ZKT3314 94.80 95.56 717 0.76 21 2.64 0.07 0.21 0.53 T2 P
ZKT3314 116.39 117.19 709 0.80 20 6.62 0.09 0.05 0.49 T14 P
ZKT3713 152.15 153.50 714 1.35 65 5.91 0.30 0.11 0.01 T33W P
ZKT3912 0.00 1.05 799 1.05 188 0.09 0.57 0.05 0.01 T30 P
ZKT3912 61.53 62.42 788 0.89 211 3.15 0.15 0.28 0.08 T31W P
ZKT3921 44.37 44.89 789 0.52 116 1.65 0.10 0.05 0.01 T21 P
ZKT4102 112.16 112.96 718 0.80 18 0.97 0.10 5.28 0.03 T2W P
ZKT4110 54.67 55.49 787 0.82 234 0.62 0.29 0.05 0.04 T31 P
ZKT4116 0.00 1.25 802 1.25 343 0.43 0.07 0.05 0.01 T23W P
ZKT4116 3.16 3.85 801 0.69 231 1.97 0.04 0.05 0.01 T23 P
ZKT4116 30.35 31.39 792 1.04 123 1.76 0.13 0.05 0.24 T2 P
ZKT4116 32.38 33.36 791 0.98 26 2.60 0.58 0.05 0.00 T2E1 P
ZKT4117 1.49 2.06 801 0.57 169 0.16 0.05 0.01 0.01 T23W P
ZKT4117 6.18 6.71 800 0.53 138 0.36 0.06 0.01 0.01 T23 P
ZKT4117 28.52 30.10 794 1.58 55 2.49 0.18 0.01 0.01 T2 P
ZKT4117 53.17 56.04 788 2.87 81 1.81 0.17 0.01 0.01 T3E P
ZKT4133 37.03 37.60 774 0.57 62 8.19 0.27 0.05 0.01 T31W3 P
ZKT4133 51.61 52.22 772 0.61 113 4.44 0.16 0.05 0.01 T3E P
ZKT4133 78.63 79.32 770 0.69 63 5.99 0.13 0.27 0.08 T31 P
ZKT4310 47.13 47.81 768 0.68 83 5.27 0.07 0.05 0.41 T31W3 P
ZKT4318 90.46 91.87 732 1.41 33 1.03 0.08 1.88 0.03 T23 P
ZKT4319 3.01 4.83 800 1.82 191 0.55 0.04 0.05 0.02 T23W P
ZKT4321 63.93 64.43 793 0.50 211 2.49 0.26 0.05 0.17 T2 P
ZKT4325 43.71 47.07 795 3.36 153 3.35 0.65 0.30 0.01 T23 P
ZKT4325 64.35 65.89 792 1.54 251 2.39 0.23 0.12 0.19 T2 P
ZKT4326 53.18 54.15 809 0.97 137 0.28 0.04 0.01 0.01 T23 P
ZKT4327 52.33 53.51 810 1.18 114 1.86 0.07 0.12 0.04 T23 P
ZKT4327 80.31 80.95 815 0.64 127 0.43 0.09 0.01 0.04 T2 P
ZKT4329 155.76 156.44 671 0.68 9 3.59 0.03 0.10 0.00 T20 P
ZKT4511 151.66 153.13 706 1.47 30 13.92 0.04 2.20 0.01 T2 P
ZKT4511 157.64 158.43 704 0.79 18 3.96 0.21 0.05 0.04 T2E1 P
ZKT4511 160.65 161.70 704 1.05 21 6.00 0.42 0.12 0.08 T3 P
ZKT4512 147.17 147.67 692 0.50 14 5.99 1.20 0.05 0.09 T2E1 P
ZKT4512 150.80 152.14 690 1.34 17 3.48 0.04 0.05 0.02 T3 P
ZKT0124 9.98 10.93 965 0.95 242 0.05 0.10 0.02 0.05 T22W1 SF
ZKT0125 24.99 25.95 957 0.96 192 2.21 0.17 0.12 0.19 T22W SF
ZKT0125 42.88 46.08 949 3.20 219 2.32 0.28 0.07 0.03 T26E SF
ZKT0148 51.25 55.54 963 4.29 227 2.88 0.10 0.17 0.03 T1W1 SF
ZKT0149 53.91 55.51 962 1.60 300 4.67 0.15 0.12 0.05 T1W1 SF
ZKT0149 136.37 136.93 950 0.56 77 2.64 0.07 0.02 0.02 T23 SF
ZKT0207 60.15 61.67 957 1.52 186 1.07 0.06 0.05 0.06 T1W2a1 SF
ZKT0208 55.38 56.31 958 0.93 111 1.06 0.12 0.01 0.06 T26E SF
ZKT0209 128.07 128.64 945 0.57 28 2.64 0.37 0.05 0.01 T28E1 SF
ZKT0209 149.40 149.99 941 0.59 178 0.36 0.06 0.05 0.01 T28E2 SF
ZKT0235 80.20 80.70 1,021 0.50 654 3.45 0.21 0.05 0.14 T2W2 SF
ZKT0248 69.99 71.70 956 1.71 184 5.61 0.11 0.05 0.14 T26E SF
ZKT0258 15.83 16.37 1,045 0.54 150 2.24 0.08 0.05 0.02 T1W2a SF
ZKT0612 173.30 174.59 885 1.29 432 3.10 0.22 0.05 0.04 T16 SF
ZKT0617 54.62 55.15 907 0.53 620 2.86 1.05 0.01 0.01 T16E2 SF
ZKT0617 64.51 65.10 904 0.59 232 0.76 0.38 0.01 0.01 T16E3 SF
ZKT0617 98.93 99.44 894 0.51 425 1.16 0.37 0.01 0.01 T16E1 SF
ZKT0628 63.91 64.45 888 0.54 1,047 11.14 0.29 0.05 0.08 T11E4 SF
ZKT0630 42.98 43.99 902 1.01 296 1.58 0.60 0.05 0.05 T31W3 SF
ZKT0817 41.03 41.53 1,039 0.50 161 0.67 0.08 0.05 0.02 T3 SF
ZKT0838 36.78 37.30 916 0.52 686 2.99 0.40 0.41 0.13 T15W1 SF
ZKT0839 28.44 29.04 912 0.60 1,646 2.92 1.53 0.05 0.33 T14E SF
ZKT0839 68.92 70.05 897 1.13 1,045 7.03 0.58 0.09 0.12 T16E2 SF
ZKT1008 25.71 27.44 918 1.73 938 7.97 0.62 0.12 0.17 T14E SF
ZKT1008 38.67 39.19 916 0.52 193 4.88 0.08 0.05 0.03 T15W1 SF
ZKT1014 3.02 3.83 921 0.81 121 0.56 0.11 0.05 0.01 T15W SF
ZKT1603 6.11 9.01 968 2.90 167 4.53 0.17 0.05 0.04 T2 SF
ZKTDB0001 21.89 22.57 1,041 0.68 98 1.66 0.41 0.01 0.03 T23 SF
ZKTDB0102 111.70 113.99 1,014 2.29 2,186 6.80 0.35 0.11 0.43 T1W2 SF
ZKTDB0202 94.00 94.60 994 0.60 159 1.34 0.82 0.05 0.01 T1W2a SF
ZKTDB0207 11.52 16.15 1,122 4.63 167 0.54 0.11 0.05 0.03 T1W2 SF
ZKTDB0207 20.67 21.27 1,120 0.60 489 0.79 0.53 0.05 0.06 T26 SF
ZKTDB0207 42.94 43.44 1,113 0.50 148 2.54 0.05 0.05 0.02 T1W1 SF
ZKTDB0207 76.02 76.57 1,104 0.55 948 0.47 0.02 0.05 0.06 T28E SF
ZKTDB0207 103.41 104.07 1,097 0.66 1,453 4.58 1.69 0.05 0.53 T1 SF
ZKTDB0309 59.76 60.27 1,058 0.51 300 0.49 1.28 0.01 0.01 T23 SF
ZKTDB0612 108.36 109.07 994 0.71 227 0.04 0.05 0.05 0.03 T16W SF
ZKTDB0706 93.71 94.24 1,066 0.53 97 1.98 0.13 0.05 0.01 T14 SF
ZKTDB1003 103.51 104.02 1,029 0.51 216 0.11 0.36 0.05 0.06 T16 SF
ZKTDB1209 87.57 88.24 1,042 0.67 116 3.16 0.47 0.05 0.03 T16 SF
ZKTDB1502 109.77 111.11 849 1.34 166 0.30 0.24 0.01 0.02 T16 SF

 
Quality Control
 
Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or shear/alteration contacts, were split into halves by sawing. 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 1mm 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 by two-acid digestion 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 0.4 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 1mm 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 CRM, 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.