- Silvercorp Metals (SVM) reported assay results from its ongoing drilling program at the LMW mine within China’s Ying Mining District
- From October 1, 2021, to September 30, 2022, a total of 56,803 metres were completed across 416 diamond drill holes, including 372 underground holes and 44 surface holes
- Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins
- Silvercorp Metals Inc. (SVM) is up 3.90 per cent, trading at C$3.73 as of noon ET
Silvercorp Metals (SVM) reported assay results from its ongoing drilling program at the LMW mine within China’s Ying Mining District.
From October 1, 2021, to September 30, 2022, a total of 56,803 metres were completed across 416 diamond drill holes, including 372 underground holes and 44 surface holes. Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins.
Assay results for 378 holes have been received, highlights are as follows:
- Hole ZKX0818 intersected a 3.18 m interval (2.82 metres true width) of vein W2 grading 2,238 grams per tonne (g/t) silver (Ag), 5.90 per cent lead (Pb), 0.61 per cent zinc (Zn), and 0.36 per cent copper (Cu) at the 1,045-metre elevation
- Hole ZKX0634 intersected a 4.03-metre interval (3.43 metres true width) of vein W6W grading 970 g/t Ag, 16.20 per cent Pb, 0.60 per cent Zn, and 0.29 per cent Cu, at the 1,031-metre elevation
- Hole ZKX0636 intersected a 1.18-metre interval (0.91 of a metre true width) of vein W1 grading 2,511 g/t Ag, 3.45 per cent Pb, 1.01 per cent Zn, and 0.38 per cent Cu, at the 963-metre elevation
- Hole ZKX14214 intersected a 6.58-metre interval (1.19-metre true width) of vein W18 grading 646 g/t Ag, 3.12 per cent Pb, 0.3 per cent Zn, and 0.16 per cent Cu, at the 1,039-metre elevation
Currently, two surface and eight underground rigs are drilling at the LMW mine. A total of 3,566 metres of exploration tunnels have been developed at the LMW mine.
Drilling of the low-angle copper-gold-silver veins of LM21, LM22, LM26 and LM50 was designed to better understand this new type of mineralization and further improve continuity.
Highlights of the intercepts from the low-angle gold veins at the LMW mine:
- HoleZKX03X021 intersected a 7.03-metre interval (5.39-metre true width) of vein LM26 grading 0.17 g/t gold (Au), 2,896 g/t Ag, and 2.58 per cent Cu at the 602-metre elevation
- HoleZKX11238 intersected a 9.54 m interval (3.37 m true width) of vein LM26 grading 0.98 g/t Au, 1,323 g/t Ag, 7.45 per cent Pb, 0.55 per cent Zn, and 0.32 per cent Cu, at the 670-metre elevation
- HoleZKX11223 intersected a 6.57 m interval (3.2 m true width) of vein LM26 grading 1.23 g/t Au, 1,780 g/t Ag, 16.71 per cent Pb, 0.69 per cent Zn, and 0.23 per cent Cu, at the 670-metre elevation
Most holes in this period targeted blocks of known silver-lead-zinc veins in the production areas that were previously missed due to limited drilling or tunnelling.
Highlights of the high-grade silver-lead-zinc mineralization in the production areas:
- Hole ZKX07X003 intersected a 13.31-metre interval (12.80 metres true width) of vein LM7 grading 365 g/t Ag, 0.71 per cent Pb, 0.13 per cent Zn, 0.06 g/t Au, and 0.33 per cent Cu at the 778-metre elevation
- Hole ZKX0733 intersected a 1.46 m interval (1.37 metre true width) of vein LM12E grading 4,549 g/t Ag, 1.19 per cent Pb, 0.24 per cent zinc (Zn), 0.49 g/t Au, and 0.10 per cent copper (“Cu”) at the 645-metre elevation
- Hole ZKX0058 intersected a 3.40-metre interval (3.39 m true width) of vein LM7W grading 1,181 g/t Ag, 2.49 per cent Pb, 0.24 per cent Zn, 0.12 g/t Au, and 0.21 per cent Cu at the 771-metre elevation
At the east side of the resource area, drilling intersected high-grade silver-lead-zinc vein LM41E and the parallel silver-lead-zinc veins.
Highlights of the high-grade silver-lead-zinc mineralization at the northwest and east sides of the LMW mine:
- Hole ZKX1166 intersected a 1.36-metre interval (1.23 m true width) of vein LM41E grading 2,415 g/t Ag, 2.61 per cent Pb, 0.40 per cent Zn, 0.05 g/t Au, and 0.90 per cent Cu at the 778-metre elevation
- Hole ZKX1143 intersected a 3.11 m interval (2.40 metres true width) of vein LM41E grading 993 g/t Ag, 1.35 per cent Pb, 0.54 per cent Zn, 0.05 g/t Au, and 0.12 per cent Cu at the 754-metre elevation
- Hole ZKX09X033 intersected a 1.3-metre interval (0.88 of a metre true width) of vein LM41EWa grading 1976 g/t Ag, 1.74 per cent Pb, 0.45 per cent Zn, 0.79 g/t Au, and 0.23 per cent Cu at the 706-metre elevation
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential.
Silvercorp Metals Inc. (SVM) is up 3.90 per cent, trading at C$3.73 as of noon ET.
