Silvercorp Intersects Vein V2E1 With 6 Metres True Width Grading 258 Grams Per Tonne Silver, 7% Lead and 7% Zinc at the GC Mine, China

- August 12th, 2021

Trading Symbol TSX:  SVM NYSE American:  SVM  Silvercorp Metals Inc. is pleased to report results from its exploration programs at the GC silver-lead-zinc mine, Guangdong Province China . Extensive drilling and tunneling are ongoing at the GC mine with seven rigs currently drilling. From October 1, 2019 to June 30, 2021 72,878 metres from a total of 704 underground diamond drill holes were completed at the GC …

Trading Symbol
TSX:  SVM
NYSE American:  SVM

 Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) is pleased to report results from its exploration programs at the GC silver-lead-zinc mine, Guangdong Province China . Extensive drilling and tunneling are ongoing at the GC mine with seven rigs currently drilling.

From October 1, 2019 to June 30, 2021 , 72,878 metres (“m”) from a total of 704 underground diamond drill holes were completed at the GC mine, including 27,527 m from 268 holes completed in the first six months of 2021.  Assay results for all the holes have been received, with 577 holes intercepting mineralization.

The diamond drilling program at the GC mine targeted: (1) blocks of known silver-lead-zinc veins in and above the production area; and (2) exploration drilling at higher elevations in the north and south sides of the resource areas.

Drilling Intersected Thick and High-Grade Veins In and Above the Production Areas

Detailed drilling of blocks of known silver-lead-zinc veins in and above the GC mine production areas intersected high-grade veins. These mineralized occurrences were previously missed due to limited drilling and tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins.

The high-grade intercepts from this period are associated with parallel silver-lead-zinc veins V2-2, V2-3, V2-4, V2-4E, V2-7, V2E, V2E1, V2E6, V2W, V2W-4, V2W-9, V5-7, V5-9, V7, V7-1, V7-1E, V7-3, V9-4, V9-5, V9W-2N, V9W-5, V10, V10-1, V10-20, NV10, V19, V19-8, V25, V25-1, and V25-4. Other veins include V11, V16, and NV28.  There are 24 new vein structures discovered in and above the production areas, including V2E4, V2E-4E, V2E-8, V7-2, V7-5, V7S, V8-2, V8-5, V10-10, V10-11, C10-17, V10-1S, V10W, V18-2, V18-3, V18-4, V19-2, V19-7, and V19-8. The Company is currently working on a technical report on the GC mine to update the resources and reserves as of December 31, 2020 . It is expected that mineralization in these structures can be converted quickly into reserves and mined with existing underground workings.

Highlights of high-grade intercepts at the GC mine production area:

  • Hole 20CK24A02 intersected a 6.13 m interval ( 6.01 m true width) of vein V2E1 grading 258 grams per tonne (“g/t”) silver (“Ag”), 7.05% lead (“Pb”), and 7.05% zinc (“Zn”) at the -211 m elevation, which includes a 1.10 m interval ( 1.08 m true width) grading 462 g/t Ag, 25.57% Pb, and 5.21% Zn at the -211 m elevation;
  • Hole 20CK2609 intersected a 7.60 m interval ( 7.32 m true width) of vein V2E1 grading 284 g/t Ag, 5.80% Pb, and 4.48% Zn at the -229 m elevation, which includes a 1.18 m interval ( 1.14 m true width) grading 788 g/t Ag, 23.33% Pb, and 7.54% Zn at the -229 m elevation;
  • Hole 20CK3025 intersected a 2.93 m interval ( 2.79 m true width) of vein NV28 grading 417 g/t Ag, 19.22% Pb, and 1.72% Zn at the -11 m elevation, which includes a 1.48 m interval ( 1.34 m true width) grading 815 g/t Ag, 37.47% Pb, and 2.12% Zn at the -11 m elevation;
  • Hole 19CK11308 intersected a 2.11 m interval ( 1.88 m true width) of vein V9W-5 grading 454 g/t Ag, 11.00% Pb, and 2.76% Zn at the 150 m elevation, which includes a 0.84 m interval ( 0.65 m true width) grading 1,066 g/t Ag, 25.31% Pb, and 4.85% Zn at the 150 m elevation;
  • Hole 19CK10707 intersected a 2.59 m interval ( 2.07 m true width) of vein V10-1 grading 345 g/t Ag, 1.36% Pb, and 14.87% Zn at the 156 m elevation, which includes a 1.59 m interval ( 1.27 m true width) grading 550 g/t Ag, 2.14% Pb, and 23.45% Zn at the 156 m elevation;
  • Hole 20CK4608 intersected a 1.75 m interval ( 1.21 m true width) of vein V33 grading 308 g/t Ag, 2.08% Pb, and 16.28% Zn at the -4 m elevation; and
  • Hole 20CK11805 intersected a 0.74 m interval ( 0.74 m true width) of newly discovered vein V18-3 grading 557 g/t Ag, 1.21% Pb, and 14.82% Zn at the -11 m elevation.

Drilling Intersected Newly-Discovered High-Grade Veins at Higher Elevations to the North and South of the Existing Resource Area

Exploratory underground drilling discovered high-grade Ag-Pb-Zn veins V33-1, V33-2, V35, V52-2, V52-3, and V59 in the south and veins NV2, NV3 and NV6 in the north of the existing resource area at the GC mine.  These discoveries confirm the potential to expand the resource area outwards and extend the mine life at the GC mine.

  • Hole 21CK4235 intersected a 2.71 m interval ( 2.19 m true width) of newly discovered vein V52-2 grading 264 g/t Ag, 0.25% Pb, and 17.02% Zn at the -3 m elevation;
  • Hole 21CK4820 intersected a 2.16 m interval ( 1.30 m true width) of newly discovered vein V35 grading 539 g/t Ag, 8.06% Pb, and 3.23% Zn at the 140 m elevation;
  • Hole 20CK46A01 intersected a 0.87 m interval ( 0.46 m true width) of newly discovered vein V33-2 grading 994 g/t Ag, 5.18% Pb, and 5.52% Zn at the 149 m elevation; and
  • Hole 21CK42A35 intersected a 0.94 m interval ( 0.72 m true width) of newly discovered vein V52-2, grading 78 g/t Ag, 0.08% Pb, and 25.07% Zn at the -1 m elevation.

Table 1: Selected intercepts from the 2019-2021 exploration programs at the GC mine

Hole ID

From
(m)

To
(m)

Elevation
(m)

interval
(m)

True Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

Vein

New
Veins

19CK10706

0.19

1.00

157

0.81

0.65

186

0.62

9.70

V10-1

19CK10707

0.00

2.59

156

2.59

2.07

345

1.36

14.87

V10-1

incl.

1.00

2.59

156

1.59

1.27

550

2.14

23.45

V10-1

19CK10907

0.00

0.62

157

0.62

0.50

310

0.06

12.06

V10-1

19CK11308

54.45

56.56

150

2.11

1.88

454

11.00

2.76

V9W-5

incl.

55.13

55.97

150

0.84

0.65

1,066

25.31

4.85

V9W-5

19CK8802

92.28

92.70

31

0.42

0.34

103

6.59

21.43

V10-11

New

20CK10202

18.96

19.58

93

0.62

0.58

260

4.17

6.18

V19-4

20CK10215

40.05

40.70

78

0.65

0.47

750

20.94

4.35

V15

20CK10920

51.30

52.00

-170

0.70

0.69

40

3.88

9.98

V10-12

20CK11115

39.02

40.16

134

1.14

1.01

242

1.40

9.47

V10-1

20CK11207

41.11

42.60

-53

1.49

0.49

228

1.47

9.56

V10-1

20CK11311

34.97

35.50

153

0.53

0.62

172

0.04

13.52

V10-5

20CK11315

49.99

50.79

44

0.80

0.76

854

0.34

0.43

V25

20CK11315

69.98

77.50

41

7.52

4.20

364

2.17

4.59

V7-1

20CK11406

38.27

38.66

90

0.39

0.39

781

0.47

8.66

V9-9

20CK11503

102.21

103.18

91

0.97

0.97

516

3.22

0.27

V33-1

New

20CK11505

23.39

24.37

98

0.98

0.98

359

1.72

10.72

V9W-2

20CK11603

105.56

110.40

-53

4.84

2.78

115

0.89

11.67

V33

incl.

107.60

108.91

-53

1.31

0.75

233

0.13

28.71

V33

20CK11620

12.14

12.65

43

0.51

0.45

1,587

0.93

1.74

V39

20CK11704

111.21

111.75

24

0.54

0.44

499

3.64

6.34

V18-3

New

20CK11716

112.02

112.52

-158

0.50

0.50

144

5.10

7.31

V5-2

20CK11716

134.84

137.91

-171

3.07

2.41

72

3.22

6.58

V9-4

20CK11805

104.30

105.04

-11

0.74

0.74

557

1.21

14.82

V18-3

New

20CK11808

104.05

104.61

24

0.56

0.38

533

2.98

7.51

V18-4

New

20CK11810

50.52

51.41

3

0.89

0.66

134

3.20

11.59

V33

20CK2407

36.34

37.06

41

0.72

0.49

423

17.20

6.79

V2E1

20CK24A02

53.41

59.54

-211

6.13

6.01

258

7.05

7.05

V2E1

incl.

53.79

54.89

-211

1.10

1.08

462

25.57

5.21

V2E1

20CK24A03

51.03

57.44

-231

6.41

6.14

139

1.99

3.98

V2E1

20CK24A15

44.06

45.39

39

1.33

1.00

177

0.85

9.16

V9-5

20CK24A16

45.55

46.92

25

1.37

1.06

258

0.31

12.80

V9-5

20CK2608

55.31

61.79

-211

6.48

6.05

134

3.81

4.02

V2E1

20CK2609

54.30

61.90

-229

7.60

7.32

284

5.80

4.48

V2E1

incl.

57.73

58.91

-229

1.18

1.14

788

23.33

7.54

V2E1

20CK2624

6.91

13.12

-251

6.21

3.53

157

3.51

4.80

V2-4

20CK2625

28.24

33.13

-267

4.89

2.53

159

2.04

6.35

V2-4

20CK2818

76.71

77.78

-214

1.07

0.91

159

9.34

5.22

V9-5

20CK3025

38.96

41.89

-11

2.93

2.79

417

19.22

1.72

NV28

incl.

38.96

40.44

-11

1.48

1.34

815

37.47

2.12

NV28

20CK3027

39.64

41.02

-32

1.38

1.19

500

19.31

7.88

NV28

20CK30A16

29.39

30.46

-129

1.07

0.59

63

0.51

16.09

V18

20CK34A07

50.96

52.52

-55

1.56

1.02

182

5.12

7.05

V2E

20CK34A11

143.21

147.54

-225

4.33

3.97

148

3.52

6.51

V2E

20CK34A15

70.96

72.17

-211

1.21

1.19

183

4.15

7.00

V2E

20CK3616

94.06

95.40

-23

1.34

1.30

144

6.30

8.56

V2E

20CK3619

70.53

75.45

-234

4.92

4.17

147

1.24

4.45

V2E

20CK3620

0.00

5.01

3

5.01

2.62

339

1.34

2.41

V18-3

New

20CK3819

108.75

113.74

-183

4.99

3.03

180

0.82

3.84

V2E

20CK4012

19.60

22.50

-2

2.90

2.77

222

2.51

2.15

V9W-2N

20CK40A10

16.92

18.45

-42

1.53

0.78

451

4.20

1.18

V32

20CK40A12

86.11

86.65

45

0.54

0.53

402

7.07

2.86

V37

20CK4608

49.62

51.37

-4

1.75

1.21

308

2.08

16.28

V33

20CK46A01

57.56

58.43

149

0.87

0.46

994

5.18

5.52

V33-2

New

20CK46A01

72.76

73.50

146

0.74

0.56

447

2.04

5.28

V33-1

New

20CK4802

135.29

135.76

39

0.47

0.46

115

0.54

18.05

NV6

New

20CK601

41.85

42.45

38

0.60

0.60

1,428

0.70

0.45

V40S

20CK9601

80.80

81.30

-107

0.50

0.48

187

17.60

4.76

V11

21CK10536

34.79

35.98

90

1.19

0.72

188

3.67

7.50

V28

21CK11103

86.88

89.20

145

2.32

1.95

172

2.15

7.89

V16

21CK11131

69.02

74.54

-184

5.52

5.05

94

3.96

3.54

V10

21CK11305

83.99

86.46

-181

2.47

1.92

206

4.88

11.86

V5-9

21CK11616

78.87

82.33

-164

3.46

2.76

134

3.84

2.62

V5-9

21CK1608

20.80

21.36

46

0.56

0.48

779

1.10

0.66

V9-3

21CK16A09

152.52

154.27

108

1.75

1.66

742

1.90

1.63

V7-1

21CK16A16

4.16

5.38

101

1.22

1.20

633

0.97

1.62

V25-1

21CK16A16

10.80

11.43

99

0.63

0.63

634

10.32

11.68

V25

21CK1810

22.46

25.70

40

3.24

2.63

388

1.29

3.71

V7-1

21CK18A09

50.36

51.93

120

1.57

1.21

948

1.51

0.88

V25-1

21CK2207

66.60

73.36

-278

6.76

5.73

130

4.65

3.93

V2W

21CK2207

85.22

88.70

-268

3.48

2.90

100

5.08

4.80

V2W-9

21CK2208

66.60

68.09

-278

1.49

1.26

384

13.05

7.47

V2W

21CK2241

23.82

25.20

-24

1.38

1.21

348

6.59

4.87

V2E

21CK2242

4.44

6.63

-4

2.19

0.49

255

7.82

6.02

V26

21CK2460

32.38

33.04

34

0.66

0.56

160

0.15

13.10

V9-4

21CK2461

39.36

40.03

34

0.67

0.59

463

0.45

15.24

V9-5

21CK24A09

19.74

23.30

-255

3.56

2.78

258

3.07

6.63

V2-4

21CK2638

17.00

24.11

-253

7.11

5.82

139

1.89

5.06

V2-4

21CK2638

133.04

144.31

-274

11.27

11.13

86

2.35

4.58

V2W

21CK2641

91.61

96.86

-14

5.25

5.02

152

0.19

6.51

V2E

21CK26A23

52.67

59.00

-276

6.33

6.16

121

3.68

5.66

V2-2

21CK26A24

19.72

25.63

-270

5.91

5.10

116

2.14

4.09

V2E1

21CK26A42

80.70

82.33

-12

1.63

1.55

152

4.92

10.12

V2E

21CK26A50

31.01

31.38

73

0.37

0.31

356

0.00

28.12

V5-7

21CK26A50

36.93

37.44

68

0.51

0.51

244

0.04

11.81

V5-9

21CK26A53

24.77

26.60

77

1.83

1.65

127

0.02

11.99

V5-7

21CK26A54

44.25

45.09

57

0.84

0.57

225

0.08

13.75

V5-7

21CK2821

25.73

35.87

-272

10.14

9.30

203

2.93

4.81

V2-4E

21CK2821

127.72

130.67

-339

2.95

2.58

202

0.28

9.97

V25-4

21CK2822

23.74

38.47

-275

14.73

12.89

127

2.06

4.03

V2-4E

21CK2823

17.78

22.91

-271

5.13

4.39

176

2.78

3.80

V2-4

21CK2824

26.38

41.65

-266

15.27

13.49

104

2.06

4.28

V2-4E

21CK3212

21.03

21.55

97

0.52

0.51

166

5.63

6.37

V7

21CK32A10

113.17

114.04

-140

0.87

0.76

81

6.30

5.25

V5-9

21CK32A32

138.29

139.47

-145

1.18

0.85

244

0.28

25.52

V5-20

21CK32A42

85.50

86.10

-131

0.60

0.57

114

0.04

17.16

V5-5

21CK3422

106.60

107.21

79

0.61

0.59

210

0.07

18.06

V2-3

21CK34A12

30.42

31.01

34

0.59

0.59

316

1.27

13.00

V7

21CK4235

64.69

67.40

-3

2.71

2.19

264

0.25

17.02

V52-2

New

21CK42A35

47.15

48.09

-1

0.94

0.72

78

0.08

25.07

V52-2

New

21CK4820

47.55

49.71

140

2.16

1.30

539

8.06

3.23

V35

New

21CK5005

55.30

55.70

45

0.40

0.40

1,344

0.54

0.46

V14

Tunneling Programs at the GC Mine

In addition to the drilling program, 16,070 m of exploration drift tunneling were developed at the GC 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 test for new parallel and splay structures. The results of the exploration tunneling are summarized in the following table.

Major Target Veins

Elevation
(m)

Total Tunneling
(m)

Channel Samples
Collected

Drift
Included
(m)

Total Mineralization Exposed by Drifts [1]

Length
(m)

True Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

V1, VH1, V2-1, V2-2, V2E, V2E1, V2E-4E, V2W, V2W-4, V2W-9, V5, V5-9, V5-12, V6E, V6E-3, V6M, V7-1E, V7-2N, V7-5, V9-2, V10, V10-1, V10W, SV10, V13, V14, V16, V17, V17-1, V18, V19, V19-6, V32,V33, V37, V40, V46, V49, V52, V59

(-300)-150

19,786

7,531

16,070

7,482

0.84

148

2.14

5.61

[1] Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 105 g/t at the GC mine.

(Formula used for AgEq calculation: AgEq = Ag g/t + 50.46 * Pb% + 43.53 * Zn%)

Highlights of selected mineralized zones exposed in the drift tunnels:

  • Drift Tunnel V5-9-(-50)-30NEYM exposed mineralization 60 m long and 1.09 m wide (true width) grading 357 g/t Ag, 4.72% Pb, and 10.08% Zn within vein V5-9 at the -50 m elevation;
  • Drift Tunnel V19-(-75)-42WYM exposed mineralization 28 m long and 0.91 m wide (true width) grading 234 g/t Ag, 13.56% Pb, and 6.42% Zn within vein V19 at the -100 m elevation;
  • Drift Tunnel V19-(-50)-48ANEYM exposed mineralization 65 m long and 1.20 m wide (true width) grading 161 g/t Ag, 2.28% Pb, and 12.18% Zn within vein V19 at the -50 m elevation;
  • Drift Tunnel V52-150-119NEYM exposed mineralization 50 m long and 0.86 m wide (true width) grading 454 g/t Ag, 3.88% Pb, and 7.39% Zn within vein V52 at the 150 m elevation; and
  • Drift Tunnel V10-1-150-38ANEYM exposed mineralization 135 m long and 0.60 m wide (true width) grading 288 g/t Ag, 0.77% Pb, and 12.61% Zn within vein V10-1 at the 150 m elevation.

Table 2: Selected mineralized zones exposed by drift tunneling at the GC mine

Tunnel ID

Vein

Elevation
(m)

Ore Length
(m)

True Width
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

V1-(-150)-32ASYM

V1

-150

67.0

0.54

53

3.90

3.95

V1-2-(-150)-20WYM

V1-2

-150

10.0

0.47

272

7.83

3.50

V2-1-(-250)-26AEYM

V2-1

-250

25.0

0.74

117

3.15

3.21

V2-2-(-200)-30EYM

V2-2

-200

31.0

0.83

104

0.49

2.85

V2E-(-250)-26ASEYM

V2E

-250

88.0

1.22

50

0.76

3.69

V2E1-(-250)-24AEYM

V2E1

-250

33.0

1.86

81

0.76

2.90

V2E1-(-300)-26AEYM

V2E1

-300

11.0

2.24

109

1.50

5.98

V2E-4E-(-50)-44ANEYM

V2E-4E

-50

48.0

0.46

104

2.36

6.95

V2E-4E-(-100)-46AWYM

V2E-4E

-100

39.0

0.60

79

1.87

6.68

V2E-4E-(-100)-46AEYM

V2E-4E

-100

15.0

0.55

40

0.53

6.71

V2W-(-200)-22SWYM

V2W

-200

91.0

1.78

102

2.84

4.61

V2W-(-200)-22NEYM

V2W

-200

94.0

2.07

90

2.47

4.11

V2W_YM

V2W

-200

28.0

1.10

98

2.83

3.55

V2W-(-250)-24NEYM

V2W

-250

54.0

2.48

137

2.58

3.55

V2W-(-250)-24SWYM

V2W

-250

28.0

1.75

62

1.84

3.26

V2W-4-(-200)-22AWYM

V2W-4

-200

16.0

0.90

247

7.88

5.80

V2W-9-(-200)-22WYM

V2W-9

-200

31.0

0.76

114

3.41

4.04

V5-50-30AEYM

V5

50

25.0

0.89

274

0.17

10.13

V5-9-(-50)-30NEYM

V5-9

-50

60.0

1.09

357

4.72

10.08

V5-9-(-200)-36NYM

V5-9

-200

50.0

1.18

107

2.02

3.72

V6E3-0-32EYM

V6E3

0

50.0

0.42

142

12.08

10.16

V6M-2-(-150)-18SEYM

V6M-3

-150

80.0

0.61

65

3.59

3.19

V7-3-100-30WYM

V7-3

100

27.0

0.30

102

0.03

14.94

V9-5-100-28AEYM

V9-5

100

50.0

0.37

186

0.35

11.68

V9-5-(-100)-32WYM

V9-5

-100

15.0

1.15

83

2.37

3.07

V9-5-(-250)-24EYM

V9-5

-250

87.0

0.87

68

2.06

3.12

SV10-(-150)-42NEYM

SV10

-150

19.0

1.53

109

2.04

3.91

SV10-(-150)-42SWYM

SV10

-150

22.0

1.53

109

2.04

3.91

V10-(-100)-46EYM

V10

-100

178.0

0.95

60

2.12

3.44

V10-(-150)-40NEYM

V10

-150

40.0

1.28

98

2.92

3.43

V10-(-150)-44NEYM

V10

-150

196.0

1.25

71

1.79

4.19

V10-(-150)-40SWYM

V10

-150

46.0

1.50

28

0.53

4.69

V10-(-130)-107SWYM

V10

-150

10.0

0.71

44

1.42

3.15

V10-(-150)-44SWYM

V10

-150

34.0

1.39

39

1.47

2.73

V10-1-135-40SWYM

V10-1

150

37.0

0.71

203

0.86

15.03

V10-1-150-38ANEYM

V10-1

150

135.0

0.60

288

0.77

12.61

V10-1-(-50)-40SWYM

V10-1

-50

20.0

0.78

143

0.37

3.77

V10-1-(-100)-42ASWYM

V10-1

-100

43.0

1.15

199

0.74

3.53

V10-1-(-150)-44SWYM

V10-1

-150

25.0

0.84

116

0.74

5.16

V10W-(-150)-40WYM

V10W

-150

15.0

1.54

198

2.05

3.62

V14-50-46SWYM

V13

50

131.0

0.71

92

0.79

9.35

V14-(-50)-116SWYM

V13

-50

20.0

0.95

148

1.16

13.57

V14-(-100)-50NEYM

V14

-100

67.0

0.90

55

2.20

2.08

V16-150-30AEYM

V16

150

9.0

0.69

808

1.84

1.99

V16-135-32EYM

V16

150

53.0

0.66

456

1.48

4.50

V16-135-32WYM

V16

150

131.0

0.39

358

1.43

4.15

V16-150-32EYM

V16

150

40.0

0.61

105

0.67

5.49

V16-150-34AEYM

V16

150

35.0

0.53

133

1.50

2.51

V16-110-34EYM

V16

100

80.0

0.66

136

0.66

6.12

V17-(-100)-34AEYM

V16

-100

6.0

0.52

1260

4.27

2.10

V17-0-34WYM

V17

0

39.0

0.32

273

0.34

22.88

V17-0-34EYM

V17

0

69.0

0.36

517

0.71

12.46

V17-(-50)-34EYM

V17

-50

40.0

0.58

126

0.93

3.80

V17-(-100)-30AEYM

V17

-100

35.0

0.83

57

1.70

2.70

V17-1-0-34WYM

V17-1

0

19.0

1.75

596

1.37

2.91

V17-1-0-34EYM

V17-1

0

27.5

0.41

304

0.88

4.67

V17-1-(-45)-34EYM

V17-1

-50

33.0

0.56

84

1.03

4.66

V17-1-(-45)-34WYM

V17-1

-50

25.0

0.58

70

0.25

3.17

V18-150-28AEYM

V18

150

22.0

0.54

273

0.87

1.98

V8-(-50)-30AEYM

V18

-50

72.0

1.11

315

2.16

2.90

V18-(-100)-30AEYM

V18

-100

46.0

1.37

163

3.16

8.10

V18-(-100)-30AWYM

V18

-100

11.0

1.29

92

2.28

6.87

V19-(-50)-48ANEYM

V19

-50

65.0

1.20

161

2.28

12.18

V19-(-75)-42WYM

V19

-100

28.0

0.91

234

13.56

6.42

V19-(-75)-42EYM

V19

-100

31.0

1.04

70

5.89

4.17

V19-(-100)-46EYM

V19

-100

99.0

0.77

101

0.66

7.64

V19-(-150)-40WYM

V19

-150

14.0

1.64

151

1.34

3.72

V19-(-150)-40EYM

V19

-150

70.0

0.91

81

1.42

3.81

V19-(-150)-44EYM

V19

-150

15.0

0.72

64

2.04

2.92

V19-6-100-40WYM

V19-6

100

22.0

1.21

99

2.20

2.04

V25-(-200)-105NEYM

V25

-200

15.0

1.87

77

0.96

3.30

V32-0-50ANEYM

V32

0

73.0

0.40

635

4.57

3.54

V32-20-50NEYM

V32

0

18.0

0.44

132

3.10

6.18

V32-20-50SWYM

V32

0

38.0

0.44

132

3.10

6.18

V32-0-50ASWYM

V32

0

10.0

0.59

87

2.25

2.19

V33-0-52SWYM

V33

0

60.0

0.92

201

5.77

5.15

V33-0-52YM

V33

0

76.0

0.98

163

3.23

4.19

V37-50-44ANEYM

V37

50

27.0

0.74

86

6.79

7.70

V40-(-85)-12WYM

V40

-100

9.0

0.99

257

5.75

6.34

V52-150-38WYM

V52

150

11.5

0.45

307

0.93

20.84

V52-150-119NEYM

V52

150

50.0

0.86

454

3.88

7.39

V19-2-150-40ASEYM

V59

150

22.0

0.50

226

4.22

3.65

VH1-0-32NEYM

VH1

0

16.0

1.06

40

3.50

5.16

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 on-site laboratory (Laboratory of Guangdong Found).

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 shipped in securely sealed bags to the on-site laboratory.

For analysis, the sample is dried and crushed to minus 1 mm and then split to 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 two-acids for analysis of silver, lead, zinc and copper with atomic absorption spectroscopy (AAS), and the other is retained as pulp reject at the lab for future reference.

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 .

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: social and economic impacts of COVID-19; 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, 2021 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.

CAUTIONARY NOTE TO US INVESTORS

The disclosure in this news release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the “SEC”).  The terms “proven mineral reserve”, “probable mineral reserve” and “mineral reserves” used in this news release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition Standards”), which definitions have been adopted by NI 43-101.  Accordingly, information contained in this news release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.

Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, “Inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.  Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity.  An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.  Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.  Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.  Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.

Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7.  Effective February 25, 2019 , the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the “SEC Modernization Rules”), with compliance required for the first fiscal year beginning on or after January 1, 2021.  The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7.  As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”.  In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to corresponding definitions under the CIM Definition Standards.  During the period leading up to the compliance date of the SEC Modernization Rules, information regarding mineral resources or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report according to U.S. standards.  While the SEC Modernization Rules are purported to be “substantially similar” to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.  Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/silvercorp-intersects-vein-v2e1-with-6-metres-true-width-grading-258-grams-per-tonne-silver-7-lead-and-7-zinc-at-the-gc-mine-china-301354629.html

SOURCE Silvercorp Metals Inc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/12/c4723.html

News Provided by Canada Newswire via QuoteMedia

 

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