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

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

Canada NewsWire

Trading Symbol        TSX:  SVM
                                   NYSE American:  SVM

VANCOUVER, BC, Jan. 30, 2024 /CNW/ - 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

SVM Map (CNW Group/Silvercorp Metals Inc)

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).

(CNW Group/Silvercorp Metals Inc)

     2)      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.

About Silvercorp

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder value by 1) focusing on generating free cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and sound Environmental, Social, and Governance ("ESG") practices. For more information, please visit our website at www.silvercorpmetals.com.

For further information

Lon Shaver
President
Silvercorp Metals Inc.

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

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 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-reports-high-grade-silver-drill-results-at-the-tlp-mine-302047548.html

SOURCE Silvercorp Metals Inc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2024/30/c3825.html

Copyright CNW Group 2024

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