SILVERCORP CONTINUES TO INTERSECT HIGH-GRADE SILVER-LEAD ZONES AT THE TLP MINE

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SILVERCORP CONTINUES TO INTERSECT HIGH-GRADE SILVER-LEAD ZONES AT THE TLP MINE

Canada NewsWire

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

Trading Symbol        TSX:  SVM
                                    NYSE American:  SVM

VANCOUVER, BC, July 17, 2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report high-grade silver-lead intercepts from its ongoing diamond drilling program at the TLP mine at the Ying Mining District, China.

Highlights (all intersections are in core lengths):

  • Surface hole ZKTDB0413 intersected 1,025 grams per tonne ("g/t") silver ("Ag"), 3.01% lead ("Pb"), and 0.11 g/t gold ("Au") over a 2.48 metre ("m") interval of vein T26 at the 1,113 m elevation;
  • Surface hole ZKTDB2005 intersected 3,211 g/t Ag, 2.41% Pb, 0.15% zinc ("Zn"), and 0.16% copper ("Cu") over a 0.63 m interval of vein T1E at the 1,129 m elevation;
  • Surface hole ZKTDB0501 intersected 312 g/t Ag, 3.21% Pb, and 0.43% Zn over a 5.04 m interval of vein T2 at the 980 m elevation;
  • Hole ZKG0847 intersected 8,254 g/t Ag, 11.71% Pb, and 1.30% Zn over a 1.87 m interval of vein T16 at the 684 m elevation;
  • Hole ZKG1447 intersected 7,140 g/t Ag, 30.79% Pb, 0.92% Zn, and 1.43% Cu over a 0.57 m interval of vein T15W2 at the 818 m elevation;
  • Hole ZKG0325 intersected 3,475 g/t Ag, 2.22% Pb, 1.52% Zn, and 0.75 g/t Au over a 0.86 m interval of vein T38 at the 752 m elevation;
  • Hole ZKT4710 intersected 83 g/t Ag, 10.46% Pb, 0.46% Zn, 0.09 g/t Au, and 0.75% Cu over a 6.26 m interval of vein T3 at the 638 m elevation;
  • Hole ZKG1024 intersected 2,743 g/t Ag, 6.95% Pb, and 1.67% Zn over a 1.27 m interval of vein T11 at the 630 m elevation;
  • Hole ZKG1437 intersected 2,204 g/t Ag, 5.13% Pb, 0.43% Zn, and 0.51% Cu over a 2.08 m interval of vein T16 at the 749 m elevation;
  • Hole ZKG1441 intersected 3,437 g/t Ag, 2.09% Pb, 1.55% Zn, and 0.22% Cu over a 1.20 m interval of vein T16 at the 727 m elevation;
  • Hole ZKT0829 intersected 453 g/t Ag, 5.10% Pb, and 0.93% Zn over a 4.60 m interval of vein T14E at the 975 m elevation; and
  • Hole ZKG0009 intersected 542 g/t Ag, 52.01% Pb, 0.20% Zn, and 0.16% Cu over a 0.81 m interval of vein T15W at the 637 m elevation.

From January 1, 2022, to June 15, 2023, a total of 66,679 m in 340 diamond drill holes, including 270 underground holes and 70 surface holes, were completed at the TLP mine. Assay results for 227 holes have been received, with 197 holes intersecting mineralization. Currently, there are 10 rigs drilling at the TLP mine.

The drilling program has targeted three areas: 1) silver-lead vein structures in the resource area at higher elevations, close to surface, which have seen limited exploration; 2) infilling in the production area, 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; and 3) step out drilling to test the extension of the major vein structures to the northeast of the resource area.

Drilling Near-Surface Ag-Pb Vein Structures within the Resource Area

Drilling over the past few years primarily focused on the lateral and downdip extent of known vein structures and paid insufficient attention to their extension potential at elevations above 900 m. In addition to the 70 surface drill holes, which account for over 20% of the drill holes in this program, many underground holes drilled also targeted the vein structures at higher elevations. High-grade Ag-Pb vein structures intersected at higher elevations include the T1 series, T2, T3 series, T11 series, T14E, T15 series, T16 series, T23 series, and T26 series (Table 1).

Drilling Above or Beneath Previously-Mined Stopes within the Resource Area

Most holes drilled during this period targeted blocks of known Ag-Pb vein structures that were previously missed due to limited drilling or tunneling, 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, T4, T11 series, T15 series, T16 series, T23 series, T20, T21, T31W3, T33 series, and T35 series, and the east-dipping T14 series, T22 series, T26 series, and T28 series. These intercepts have led to significant expansion and upgrading of resources. Since the ramps and access tunnels are already in place, these defined high-grade blocks can be quickly converted to reserves and mined.

Step-Out Drilling Intersecting Ag-Pb Veins to the Northeast of the Resource Area

Step-out surface and underground drilling intersected high-grade Ag-Pb veins T2, T3 series, T4, T5, and T21 series to the northeast of the resource area. Hole ZKT4710 intersected 83 g/t Ag, 10.46% Pb, 0.46% Zn and 0.75% Cu over a 6.26 m interval. These intercepts have extended the boundary of the resource area approximately 300 m to the northeast.

Table 1: Selected intercepts from the drilling programs at the TLP mine

Hole ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

Au
(g/t)

Cu
(%)

Vein

ZKTDB2005

23.60

24.90

1,141

1.30

108

1.18

0.03

0.03

0.07

T1

ZKTDB0412

82.92

84.76

1,101

1.84

216

1.08

0.07

0.05

0.03

T1

ZKTDB0422

74.09

75.86

1,101

1.77

268

0.18

0.03

0.02

0.02

T1

ZKTDB0413

90.30

92.14

1,084

1.84

195

2.94

0.03

0.07

0.01

T1

ZKTDB1781

126.97

129.95

984

2.98

162

2.01

0.07

0.02

0.03

T1

ZKT0933

124.02

124.62

910

0.60

261

11.44

2.52



T1

ZKT0006

38.46

38.96

888

0.50

190

3.96

0.18

0.07

0.06

T1

ZKTDB2005

54.64

55.27

1,129

0.63

3,211

2.41

0.15

0.03

0.16

T1E

ZKTDB0422

53.88

55.16

1,107

1.28

244

0.31

0.08

0.02

0.01

T1W

ZKTDB0427

58.17

58.71

1,105

0.54

672

0.67

0.07

0.03

0.07

T1W

ZKTDB0428

71.16

71.66

1,078

0.50

233

0.54

0.04



T1W

ZKTDB0603

106.05

107.10

1,034

1.05

837

2.64

0.31

0.05

0.05

T1W

ZKTDB0006

176.90

179.95

912

3.05

274

7.86

0.13



T1W

ZKT0815

73.01

73.92

871

0.91

119

4.58

0.09

0.35

0.01

T1W

ZKT1145

92.26

95.18

831

2.92

49

5.47

0.28

0.05

0.12

T1W

ZKTDB0428

13.40

16.59

1,117

3.19

134

0.48

0.26



T1W1

ZKTDB0422

28.46

30.10

1,116

1.64

91

1.42

0.10

0.02

0.02

T1W1

ZKTDB0603

28.83

30.64

1,100

1.81

177

0.79

0.05

0.05

0.06

T1W1

ZKTDB0008

109.91

110.44

1,017

0.53

867

1.11

1.73

0.11

0.09

T1W1

ZKTDB0006

118.81

119.30

958

0.49

60

5.59

0.07



T1W1

ZKT0826

3.79

4.54

897

0.75

204

0.17

0.08

0.02

0.02

T1W1

ZKT0613

148.66

149.52

884

0.86

960

1.11

1.28



T1W1

ZKT0404

151.28

153.71

866

2.43

137

1.18

0.37

0.02

0.02

T1W1

ZKT0907

126.35

126.87

636

0.52

324

3.15

0.49



T1W1

ZKT1315

119.43

120.43

590

1.00

175

4.09

2.25

1.11

0.58

T1W1

ZKT0941

125.28

128.32

590

3.04

138

3.15

1.23

0.16

1.06

T1W1

ZKT1314

134.41

135.01

545

0.60

1,061

4.41

1.44

0.58

0.89

T1W1

ZKT1315

128.64

129.22

585

0.58

141

1.27

1.69

0.49

0.17

T1W1a

ZKTDB0412

17.86

19.27

1,120

1.41

361

1.55

0.25

0.05

0.09

T1W2

ZKTDB0413

17.40

19.20

1,117

1.80

162

0.27

0.15

0.07

0.02

T1W2

ZKTDB0411

10.12

13.67

1,116

3.55

503

1.99

0.28



T1W2

ZKTDB0603

10.39

11.13

1,116

0.74

206

3.59

0.06

0.05

0.03

T1W2

ZKTDB0008

66.67

67.18

1,031

0.51

590

4.08

0.19

0.05

0.46

T1W2

ZKT0613

151.96

153.87

883

1.91

531

2.59

1.20



T1W2

ZKT0802

183.01

183.53

828

0.52

166

1.32

0.40

0.11

0.01

T1W2

ZKT0802

183.01

183.53

828

0.52

166

1.32

0.40

0.11

0.01

T1W2

ZKT1574

147.02

147.64

584

0.62

216

0.54

0.66

0.79

0.09

T1W2

ZKT1145

150.45

152.60

824

2.15

599

1.25

1.07

0.16

0.15

T1W2a

ZKTDB0404

77.13

78.61

1,131

1.48

166

0.71

0.18

0.05

0.01

T2

ZKT0224

87.79

88.48

986

0.69

538

1.60

0.05

0.05

0.04

T2

ZKTDB0501

172.99

178.03

980

5.04

312

3.21

0.43

0.06

0.06

T2

ZKTDB3306

60.85

63.13

947

2.28

132

0.35

0.11



T2

ZKTDB3307

58.45

60.31

946

1.86

208

0.37

0.14



T2

ZKT1145

46.32

49.47

836

3.15

225

3.12

2.08

0.43

0.68

T2

ZKT1144

42.50

43.39

836

0.89

132

4.87

0.23

0.03

0.44

T2

ZKT1354

166.38

168.31

824

1.93

120

0.76

0.02

0.02

0.04

T2

ZKT4708

140.80

141.95

710

1.15

31

5.54

0.04

0.19

0.01

T2

ZKT4715

145.31

145.87

666

0.56

186

2.01

0.09



T2

ZKT4522

151.31

152.86

641

1.55

34

6.12

0.10


0.80

T2

ZKT5104

251.05

251.65

540

0.60

18

3.58

0.19

2.45

0.07

T2

ZKT1129

32.06

32.80

839

0.74

435

0.06

0.04

0.03

0.01

T2E

ZKT0006

126.31

126.85

877

0.54

344

1.48

0.35

0.13

0.04

T2E1

ZKT0224

68.22

70.88

990

2.66

114

1.54

0.03

0.05

0.03

T2W

ZKT0106

42.26

44.20

886

1.94

275

3.45

0.07



T2W

ZKT0107

45.39

45.96

882

0.57

229

0.96

0.02



T2W

ZKT0106

74.47

76.83

882

2.36

114

1.70

0.08



T2W1

ZKTDB1201

46.72

49.99

1,120

3.27

41

4.92

0.13



T3

ZKTDB2401

143.18

144.13

1,029

0.95

180

1.11

0.11

0.02

0.04

T3

ZKTDB3305

75.62

77.18

917

1.56

3

0.01

0.03

2.67

0.01

T3

ZKT0006

142.50

143.06

875

0.56

311

2.35

0.10

0.14

0.32

T3

ZKT0201

114.56

117.54

871

2.98

284

2.71

0.10

0.08

0.01

T3

ZKT1129

20.40

22.61

840

2.21

226

1.95

0.68

0.16

0.09

T3

ZKT1145

21.01

22.20

839

1.19

257

1.32

0.44

0.14

0.19

T3

ZKT1144

19.30

22.36

839

3.06

327

0.25

0.11

0.50

0.06

T3

ZKT1127

22.42

23.61

833

1.19

173

2.02

0.42

0.23

0.27

T3

ZKT0214

177.80

178.38

787

0.58

100

8.93

0.05



T3

ZKT0215

201.22

205.34

786

4.12

100

1.78

0.06



T3

ZKT4708

145.90

146.66

709

0.76

23

7.18

0.07

0.05

0.04

T3

ZKT4521

155.20

158.41

663

3.21

38

9.72

0.04



T3

ZKT4712

162.88

168.60

644

5.72

25

5.08

0.09



T3

ZKT4710

165.61

171.87

638

6.26

83

10.46

0.46

0.09

0.75

T3

ZKT5912

145.09

145.64

635

0.55

333

0.23

0.06

0.01

0.02

T3

ZKT4716

180.22

181.10

630

0.88

60

6.27

0.06



T3

ZKT5910

196.49

197.29

605

0.80

7

0.01

0.01

3.81

0.01

T3

ZKT5104

260.62

261.45

532

0.83

19

7.78

0.55

0.03

0.20

T3

ZKT5504

220.79

221.61

404

0.82

13

5.55

0.61

0.05

0.01

T3

ZKTDB1780

192.54

193.05

932

0.51

77

4.27

0.16

0.02

0.01

T3E

ZKT3737

7.16

7.72

749

0.56

213

3.38

0.24

0.45

0.65

T3E

ZKT5502

118.56

120.15

652

1.59

193

0.53

0.22

0.05

0.01

T3E

ZKT4710

174.72

175.24

633

0.52

79

35.25

1.14

0.03

0.19

T3E

ZKT4709

173.87

176.13

630

2.26

77

11.35

0.05

0.06

0.49

T3E

ZKT5910

205.53

207.22

599

1.69

334

0.51

0.42

0.30

0.04

T3E

ZKT5106

390.24

391.41

384

1.17

8

5.96

0.05

0.03


T3E

ZKG0607

234.64

235.25

298

0.61

1,012

1.30

2.84

5.15

0.07

T3E

ZKT0006

147.31

148.05

874

0.74

43

7.28

0.18

0.06

0.01

T3E1

ZKT3721

9.26

10.89

746

1.63

208

4.28

1.20

2.60

0.49

T3E1

ZKTDB3307

127.81

128.65

921

0.84

831

0.90

1.10



T4

ZKTDB3305

136.37

137.81

877

1.44

703

1.35

0.23

0.21

0.03

T4

ZKT3737

37.61

38.66

741

1.05

131

29.55

0.22

0.21

0.77

T4

ZKT3718

37.51

38.16

734

0.65

66

6.57

0.07

0.23

0.25

T4

ZKT3719

38.82

41.01

724

2.19

44

6.47

0.63

0.19

0.22

T4

ZKT5106

398.53

399.05

377

0.52

51

8.27

0.11

0.90


T4

ZKT3737

52.90

54.74

737

1.84

96

4.10

0.14

0.40

0.23

T5

ZKT3721

47.99

50.80

726

2.81

88

2.55

0.21

0.19

0.12

T5

ZKT5505

126.23

127.57

696

1.34

88

2.85

0.24

0.01

0.01

T5

ZKG1221A

136.00

136.53

948

0.53

178

7.35

0.79

0.05

0.03

T11

ZKG1814

11.67

12.18

838

0.51

533

2.38

0.16

0.05

0.08

T11

ZKG1030

129.28

131.45

814

2.17

957

0.52

0.15



T11

ZKG0503

147.37

148.58

733

1.21

682

3.64

0.39

0.05

0.21

T11

ZKG0504

137.22

137.73

716

0.51

748

2.53

0.14

0.20

0.10

T11

ZKG0812

230.25

231.19

712

0.94

911

0.42

0.05

0.01

0.02

T11

ZKG1226

125.24

125.77

683

0.53

56

0.27

0.28

0.02

3.32

T11

ZKG1024

128.39

129.66

630

1.27

2,743

6.95

1.67



T11

ZKG1105

206.94

207.90

626

0.96

48

10.31

0.09

0.05

0.13

T11

ZKG1009

145.17

145.76

578

0.59

752

11.83

5.55



T11

ZKG0108

279.35

280.02

541

0.67

57

8.73

1.39

0.39

0.04

T11

ZKG0454

200.83

201.89

535

1.06

385

8.98

1.48

2.12

0.12

T11

ZKT0616

69.45

70.16

906

0.71

101

2.69

0.13

0.05

0.04

T11E

ZKG0108

342.11

342.74

517

0.63

166

8.89

6.78

1.65

0.01

T11E

ZKG0809

227.42

228.35

627

1.01

216

0.64

0.14



T11E2

ZKG0810

227.29

227.93

619

0.64

260

0.93

0.34



T11E2

ZKT0812

131.72

132.31

907

0.59

781

5.82

0.71

0.05

0.18

T11E4

ZKT0616

82.24

82.74

902

0.50

1,259

2.97

0.47

0.05

0.29

T11E4

ZKT0812

29.72

30.31

919

0.59

754

0.45

0.48

0.05

0.02

T11W

ZKG1815

34.90

35.45

840

0.55

684

0.91

0.25

0.02

0.04

T11W1

ZKG1819

87.46

88.02

794

0.56

24

6.21

0.29

0.01


T12

ZKG0104

152.05

152.67

791

0.62

130

2.12

0.36

0.02

0.01

T14

ZKT0530

108.41

110.59

752

2.18

79

5.28

0.54

0.01

0.04

T14

ZKG0465

115.81

116.44

680

0.63

222

4.42

0.54

0.22

0.08

T14

ZKT0829

35.73

40.33

975

4.60

453

5.10

0.93

0.05

0.07

T14E

ZKT0611

110.05

110.85

918

0.80

322

0.46

0.17



T14E

ZKT0610

92.60

93.10

902

0.50

264

10.60

0.14

0.05

0.01

T14E

ZKG0106

200.35

201.89

824

1.54

134

1.57

0.07

0.03

0.08

T14E

ZKT0717

130.39

131.53

788

1.14

252

1.48

1.18

0.05

0.02

T14E

ZKG1221A

93.13

93.71

951

0.58

158

2.06

0.26

0.05

0.01

T15

ZKT0813

14.69

15.29

921

0.60

189

1.87

0.12

0.05

0.01

T15

ZKT0812

17.59

18.13

921

0.54

233

1.42

0.16

0.05

0.05

T15

ZKG1815

11.36

12.09

838

0.73

298

1.09

0.48

0.02

0.05

T15

ZKG1447

15.23

15.81

832

0.58

321

0.56

0.26

0.01

0.25

T15

ZKG1610

114.81

115.80

815

0.99

548

1.28

0.50



T15

ZKG0113

105.51

106.22

617

0.71

310

2.86

0.21

0.24

0.19

T15

ZKT1027

142.72

144.13

944

1.41

40

3.30

0.15

0.05


T15W

ZKT1006

5.03

6.07

919

1.04

573

0.37

0.07

0.05

0.04

T15W

ZKG1815

47.76

48.42

841

0.66

209

0.51

0.20

0.02

0.06

T15W

ZKG1437

48.75

49.28

816

0.53

429

0.10

0.26

0.05

0.10

T15W

ZKG1438

58.28

58.95

808

0.67

784

0.97

1.16

0.06

0.10

T15W

ZKG1606

131.63

132.15

685

0.52

184

6.49

0.20

0.12

0.03

T15W

ZKG0009

88.28

89.09

637

0.81

542

52.01

0.20

0.05

0.16

T15W

ZKG1024

125.56

127.29

632

1.73

279

0.40

0.10



T15W

ZKG0115

74.92

76.05

622

1.13

404

19.59

0.50



T15W

ZKG0113

96.89

97.75

620

0.86

596

10.45

0.53

0.09

0.19

T15W

ZKG0005

107.91

108.41

593

0.50

460

11.98

0.35



T15W

ZKT0804

60.41

60.93

921

0.52

211

0.60

0.20

0.05

0.02

T15W1

ZKT0805

48.50

49.00

921

0.50

382

1.47

0.73



T15W1

ZKG0605

191.30

191.82

632

0.52

2,128

3.43

0.21

0.11

0.12

T15W1

ZKG0113

75.05

75.85

627

0.80

216

1.12

0.24

0.17

0.01

T15W1

ZKG1821

63.03

63.85

826

0.82

373

0.52

0.25

0.05

0.05

T15W2

ZKG1447

67.99

68.56

818

0.57

7,140

30.79

0.92

0.04

1.43

T15W2

ZKG1437

73.12

73.67

806

0.55

1,246

1.09

0.09

0.05

0.16

T15W2

ZKG1441

82.74

83.25

798

0.51

646

13.14

0.10

0.11

0.05

T15W2

ZKG1226

40.17

41.60

694

1.43

162

1.02

0.40

0.02

0.03

T15W2

ZKG1024

39.63

40.18

678

0.55

909

0.76

0.25



T15W2

ZKG1821

122.47

123.08

817

0.61

1,036

0.76

0.25

0.05

0.20

T15W4

ZKT0716

61.96

62.53

794

0.57

672

1.41

1.34

0.05

0.06

T15W4

ZKG0111

92.43

92.95

621

0.52

103

3.05

0.08



T15W4

ZKG1447

188.43

188.98

787

0.55

2,778

2.40

2.56

0.02

0.21

T16

ZKT1365

178.41

179.04

780

0.63

635

4.54

1.04

0.07

0.11

T16

ZKG1437

212.50

214.58

749

2.08

2,204

5.13

0.43

0.05

0.51

T16

ZKG1441

240.19

241.39

727

1.20

3,437

2.09

1.55

0.05

0.22

T16

ZKG0852

39.02

39.54

712

0.52

502

1.71

0.42



T16

ZKG1023

38.65

39.20

710

0.55

465

1.38

1.05


0.06

T16

ZKG1012

45.94

46.44

691

0.50

281

2.37

0.18

0.05

0.01

T16

ZKG0847

59.22

61.09

684

1.87

8,254

11.71

1.30



T16

ZKG0452

63.17

63.78

645

0.61

310

0.62

0.54

0.14

0.01

T16

ZKG0360

199.06

201.45

576

2.39

84

2.91

0.44

0.16

0.02

T16

ZKG0535

214.82

216.01

560

1.19

343

19.10

2.95

1.68

0.08

T16

ZKT1017

50.71

51.32

973

0.61

313

3.17

0.30

0.03

0.02

T16E1

ZKG1022

15.13

15.65

704

0.52

420

0.89

0.36


0.05

T16E1

ZKG0852

81.75

82.26

725

0.51

540

6.43

0.24



T16W

ZKG1022

89.20

89.82

719

0.62

414

5.38

1.45


0.02

T16W

ZKG1816

308.92

309.46

715

0.54

247

3.04

0.74

0.05

0.01

T16W

ZKG0847

95.45

96.02

675

0.57

20

5.25

0.43



T16W

ZKG1449

319.14

320.46

661

1.32

1,350

2.07

2.02


0.05

T16W

ZKG0852

53.88

55.15

716

1.27

537

0.91

0.10



T16W1

ZKG0107

113.70

114.24

597

0.54

245

1.83

1.82

0.59

0.04

T16W1

ZKT0113

68.27

68.89

927

0.62

253

0.07

0.10

0.02

0.02

T16W3

ZKG1814

208.28

209.82

857

1.54

181

2.03

0.82

0.05

0.04

T17

ZKG1810

221.15

221.74

753

0.59

283

14.98

0.24

0.03

0.02

T17

ZKG1816

221.45

224.88

749

3.43

73

1.80

0.26

0.05

0.02

T17

ZKG2211

234.94

235.54

732

0.60

192

5.66

0.39



T17

ZKG1438

263.73

264.25

712

0.52

53

7.18

0.06

0.02

0.01

T17

ZKG1449

299.01

300.60

672

1.59

1,028

3.33

0.33


0.05

T17

ZKG1814

203.27

205.21

857

1.94

419

2.66

0.54

0.05

0.14

T17E

ZKG1438

244.49

245.05

721

0.56

267

1.11

0.17

0.03

0.03

T17E

ZKG1820

16.59

18.21

696

1.62

188

0.72

0.23

0.05

0.05

T17E

ZKG1810

266.29

268.43

735

2.14

463

2.51

0.35

0.02

0.07

T17W

ZKG0429

80.78

81.39

682

0.61

135

4.01

0.36



T17W

ZKG1810

261.84

262.36

737

0.52

716

0.74

0.18

0.02

0.41

T17W2

ZKT3718

46.48

50.52

730

4.04

61

2.88

0.13

0.27

0.27

T20

ZKTDB0504

23.97

24.70

1,055

0.73

308

1.49

0.06



T21

ZKTDB0404

247.57

248.81

1,046

1.24

334

2.41

0.40

0.05

0.21

T21

ZKT0523

100.78

103.75

916

2.97

89

15.87

0.22

0.05

0.11

T21

ZKT3738

64.96

65.46

734

0.50

445

7.29

0.84

0.44

0.14

T21

ZKT3737

68.47

69.89

733

1.42

914

0.63

0.64

1.25

0.17

T21

ZKT3738

87.81

88.33

728

0.52

30

8.08

0.07

0.05

0.01

T21E

ZKT1142

93.10

93.58

1,012

0.48

286

14.66

0.32

0.02

0.04

T22

ZKT1129

133.63

134.24

830

0.61

211

0.73

0.37

0.11

0.03

T22

ZKG1810

300.74

302.32

723

1.58

195

0.80

0.06

0.03

0.12

T22E

ZKTDB0381

169.22

170.44

1,002

1.22

131

1.38

0.27

0.02

0.06

T22W

ZKTDB0009

22.74

23.35

1,046

0.61

2,587

0.72

0.22

0.05

0.29

T23

ZKTDB0006

26.43

28.42

1,032

1.99

256

1.20

0.08



T23

ZKTDB0004

26.34

26.87

1,029

0.53

288

11.11

0.20



T23

ZKT1354

19.67

20.30

808

0.63

178

1.69

0.28

0.03

0.11

T23

ZKT4712

98.27

101.25

681

2.98

92

4.78

0.06



T23

ZKT4716

114.15

114.93

669

0.78

261

0.70

0.14



T23

ZKT1574

167.09

167.74

580

0.65

591

0.81

0.95

0.19

0.15

T23

ZKT1574

163.88

164.48

581

0.60

669

1.28

2.49

0.20

0.24

T23E

ZKTDB0381

60.81

62.77

1,056

1.96

373

0.22

0.08

0.02

0.02

T23W

ZKTDB0381

156.86

157.39

1,008

0.53

304

1.64

1.18

0.04

0.06

T23a

ZKTDB0011

22.96

25.70

1,114

2.74

150

0.50

0.13



T26

ZKTDB0413

27.07

29.55

1,113

2.48

1,025

3.01

0.07

0.11

0.03

T26

ZKTDB0413

29.55

34.61

1,112

5.06

255

0.48

0.08

0.05

0.14

T26E

ZKTDB0426

99.53

100.22

1,068

0.69

193

0.52

0.06



T26E

ZKTDB0011

27.43

28.04

1,112

0.61

159

1.48

0.06

0.05

0.03

T26E1

ZKT0006

2.89

3.42

892

0.53

229

0.70

0.07

0.09

0.19

T26E1

ZKTDB0011

13.39

14.15

1,119

0.76

332

2.51

0.06

0.07

0.03

T26W

ZKT0613

126.73

127.24

886

0.51

580

5.87

0.25



T28

ZKT0802

80.59

81.35

866

0.76

21

6.27

0.10

0.05


T28

ZKT0802

80.59

81.35

866

0.76

21

6.27

0.10

0.05


T28

ZKT0404

126.56

127.08

871

0.52

165

1.32

0.31

0.03

0.03

T28E2

ZKT0613

122.73

123.30

886

0.57

141

1.90

0.30



T28a

ZKT0221

65.00

65.69

1,012

0.69

162

1.90

0.03

0.01

0.08

T29

ZKT0616

32.41

32.92

915

0.51

395

1.18

0.07

0.11

0.14

T31W3

ZKT0812

92.25

92.77

912

0.52

130

3.06

0.37

0.05

0.01

T31W3

ZKTDB1522

225.44

226.03

1,020

0.59

326

4.04

0.14

0.01

0.02

T33

ZKT1315

69.52

70.02

618

0.50

379

1.08

0.17

0.04

0.05

T33E

ZKT1354

1.27

2.63

806

1.36

134

0.53

0.32

0.02

0.01

T33E1

ZKT1315

83.69

85.19

610

1.50

154

1.32

0.51

0.01

0.11

T33E1

ZKT4723

10.50

11.04

740

0.54

401

1.74

0.48



T35

ZKT0771

190.81

191.32

878

0.51

169

8.58

1.52

0.03

0.03

T35E

ZKT0711

118.10

120.85

825

2.75

136

1.99

0.28

0.02

0.02

T35E

ZKT0523

233.46

233.96

907

0.50

566

0.91

0.21

0.05

0.19

T35E1

ZKT0771

231.20

231.74

868

0.54

669

1.54

0.45

0.03

0.10

T35E2

ZKTDB0201

161.59

162.22

946

0.63

347

1.15

0.18

0.11

0.11

T38

ZKT2926

113.66

114.19

829

0.53

569

6.31

0.17

0.05

0.05

T38

ZKT2927

121.02

122.93

828

1.91

576

0.65

0.58

0.05

0.02

T38

ZKT2925

106.81

107.35

805

0.54

464

3.39

5.48

0.16

0.02

T38

ZKG0105

70.07

71.92

797

1.85

220

5.85

0.19

0.03

0.05

T38

ZKG0104

82.94

83.57

796

0.63

948

3.00

2.24

0.02

0.15

T38

ZKT0709

52.12

52.62

794

0.50

196

0.47

0.49

0.05

0.02

T38

ZKT0529

46.13

46.95

793

0.82

326

5.67

1.26

0.05

0.12

T38

ZKT0710

51.13

51.67

793

0.54

581

6.04

0.66

0.03

0.03

T38

ZKG0325

96.57

97.43

752

0.86

3,475

2.22

1.52

0.75

0.07

T38

ZKT2928

209.12

209.70

820

0.58

445

0.68

0.25

0.05

0.02

T39

ZKT2925

173.10

173.72

784

0.62

199

1.55

0.73

0.03

0.03

T39E2

ZKT2927

167.57

168.07

824

0.50

308

0.26

0.05

0.05

0.02

T39W

ZKT2928

171.00

171.51

824

0.51

373

1.14

0.22

0.05

0.01

T39W

ZKT2925

150.01

150.61

791

0.60

420

0.58

0.28

0.03

0.01

T39W

ZKG1030

94.18

94.82

820

0.64

71

4.23

0.42



NA[1]

[1] New vein with no vein ID


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 1 mm 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 0.2 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 1 mm 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 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, social and economic impacts of COVID-19; 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; legislative and regulatory initiatives addressing global climate change or other environmental concerns; 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 under the heading "Risk Factors" and in the Company's Annual Report on Form 40-F, and in the Company's other filings with Canadian and U.S securities regulators.  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.

Additional information related to the Company, including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorpmetals.com.

For further information

Lon Shaver
Vice President
Silvercorp Metals Inc.

Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: [email protected]
Website:
www.silvercorpmetals.com

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-continues-to-intersect-high-grade-silver-lead-zones-at-the-tlp-mine-301878940.html

SOURCE Silvercorp Metals Inc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2023/17/c7774.html

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