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Silvercorp Reports Results of its 2017-2018 Exploration Tunneling and Drilling Programs at the TLP and LME Mines, Ying Mining District, China

VANCOUVER, British Columbia, June 18, 2018 (GLOBE NEWSWIRE) — Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM) (NYSE American:SVM) is pleased to report results of its exploration programs from July 1, 2017 to March 31, 2018 at the TLP and LME mines, Ying Mining District, Henan Province, China. Results over the same period for the SGX mine in the Ying Mining District were reported on June 8, 2018.

During the nine month period, the Company completed 27,687 meters (“m”) of underground diamond drilling with 6 underground rigs from current production levels and 9,832m of exploration tunneling between elevation Levels 500m and 1,070m. Results of underground drilling continuously extended the major mineralized vein structures along strike and downdip and exploration tunneling exposed high grade mineralization zones within major production vein structures.

Highlights of selected mineralization zones exposed in exploration drift tunnels:

  • Drift Tunnel PD820-T16E-795-3SYM exposed mineralization of 40m long and 0.87m wide (true width) grading 941 grams per tonne (“g/t”) silver (“Ag”), 4.85% lead (“Pb”) and 0.64% zinc (“Zn”) within vein structure T16E on the 795m level at the TLP mine;
     
  • Drift Tunnel PD820-T11-650-4SYM exposed mineralization of 55m long and 0.74m wide (true width) grading 518g/t Ag, 4.76% Pb and 0.35% Zn within vein structure T11 on the 650m level at the TLP mine; and
     
  • Drift Tunnel PD900-LM5E1-500-51NSYM exposed mineralization of 55m long and 0.61m wide (true width) grading 913g/t Ag, 1.60% Pb and 0.59% Zn within vein structure LM5E1 on the 500m level at the LME mine.

The exploration tunneling, comprising drifting, crosscutting and raising, was driven along and across major mineralized vein structures to upgrade drill defined mineral resources and test for new parallel and splay structures.

The tunneling programs from July 1, 2017 to March 31, 2018 at TLP and LME mines are briefly summarized in the following table:

Major Target Veins Target
Levels
(m)
Total
Tunneling
(m)
Channel
Samples
Collected
Drift
Tunneling
Included
(m)
Total Mineralization* Exposed by Drift Tunneling
Length
(m)
Average
True
Width
(m)
Ag
(g/t)
Pb (%) Zn (%)
TLP Mine ? ? ? ?          
T1, T2, T3, T5, T11,
T14, T16, T21, T22,
T27E, T33W2
510-1070 7,957 2,775 5,031 1,713 0.77 298 3.61 0.39
LME Mine                  
LM2, LM3, LM5,
LM5E
500-915 1,875 881 1,351 289 0.63 513 1.41 0.48
*Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 120 g/t at TLP and 125 g/t at LME. (Formulae used for AgEq calculation: TLP=34.1401*Pb%+Ag g/t; LME=34.0436*Pb%+Ag g/t)
 

Highlights of selected intersections of drill holes:

  • Hole ZKGA2202 intersected a 0.59m interval from 24.43m to 25.02m, 0.56m true width, of vein T14W grading 1022g/t Ag, 1.70% Pb and 0.95% Zn at the 821m elevation at the TLP mine;
     
  • Hole ZKT2543 intersected a 0.41m interval from 217.91m to 218.32m, 0.41m true width, of vein T39 grading 402g/t Ag, 1.81% Pb and 0.39% Zn at the 749m elevation, and a 1.16m interval from 361.64m to 362.80m, 1.10m true width, of vein T16 at the 691m elevation at the TLP mine; and
     
  • Hole ZKG0405 intersected a 0.68m interval from 343.32m to 344.00m, 0.60m true width, of vein LM3 grading 484g/t Ag, 6.38% Pb and 3.20% Zn at the 708m elevation at the LME mine.

The underground drilling program is mainly conducted from the current production levels to delineate the downdip and along-strike extensions of known mineralized vein structures in the production area and test for new veins in the previous less-explored areas.

The drilling programs from July 1, 2017 to March 31, 2018 at TLP and LME mines are briefly summarized in the following table:

Major Target Veins Target
Elevation
(m)
Meters
Drilled
Holes
Completed
Samples
Collected
Holes
with
Assay
Received
Holes
Intercepted
Vein
Structures
Holes
Intercepted
Mineralization
T11, T14, T15, T16,
T16W, T17, T17W,
T22, T39
270-1,000 19,256 61 962 60* 60 24
LM1, LM2, LM3,
LM5, LM6, LM8,
IM18
0-990 8,431 27 423 27** 27 11
*Including 7 holes completed in the first half of 2017; 8 holes drilled in the first quarter of 2018 with assay pending
**Including 3 holes completed in the first half of 2017; 3 holes drilled in the first quarter of 2018 with assay pending
 

Tables 1 and 2 below list the assay results of some selected mineralized intersections in drill holes and mineralized zones exposed in drift tunnels in the exploration programs from July 1, 2017 to March 31, 2018.

Table 1: Selected drilling results from the drilling programs at the TLP and LME mines

Hole ID From
(m)
To (m) Elevation
(m)
Sample
Length
(m)
True
Width
(m)
Ag (g/t) Pb
(%)
Zn
(%)
Vein Remarks
TLP MINE: ? ? ? ? ? ? ? ? ? ?
ZKT0622 2.17 2.55 955 0.38 0.25 165 1.00 0.47 T16branch Test
ZKT0622 196.58 197.82 905 1.24 0.80 130 0.86 0.21 T11E Test
ZKGA1412 120.00 120.47 839 0.47 0.42 403 0.23 0.22 T16W Test
ZKT1022 78.07 78.39 988 0.32 0.20 1,368 5.58 0.76 T16 Stepout
ZKT1023 148.48 149.06 898 0.58 0.58 100 1.03 0.32 T11E Test
ZKG0426 74.73 75.06 636 0.33 0.30 254 0.97 0.09 T17 Test
ZKT2914 167.37 168.33 773 0.96 0.95 132 1.34 0.49 T39W Test
ZKG0626 242.32 242.73 429 0.41 0.38 14 3.72 1.30 T15W Test
  248.59 249.09 423 0.50 0.45 32 8.38 0.83 T11 Stepout
ZKT2915 203.89 204.50 713 0.61 0.58 70    20.80    0.43 T39 Test
  248.08 249.08 686 1.00 0.95 67 1.54 0.58 T39E Test
ZKG0224 212.42 213.00 512 0.58 0.43 20 4.01 0.68 T11 Stepout
ZKT0623 51.63 52.28 954 0.65 0.59 156 2.14 1.05 T5E Test
ZKT0824 29.72 30.07 969 0.35 0.35 210 3.89 0.12 T5E2 Test
ZKT2916 570.50 571.39 412 0.89 0.79 196 4.64 0.02 T15W Test
ZKT2543 217.91 218.32 749 0.41 0.41 402 1.81 0.39 T39 Test
  361.64 362.80 691 1.16 1.10 130 8.98 0.05 T16 Stepout
ZKG0225 238.81 239.23 451 0.42 0.30 42 4.36 0.59 T11 Stepout
ZKT2544 306.48 307.37 648 0.89 0.81 176 4.57 0.32 T16W Test
ZKTA2101 37.57 38.01 918 0.44 0.41 97 2.45 0.72 T22E3 Test
ZKG0228 73.78 74.38 632 0.60 0.48 33 3.94 0.28 T17 Test
ZKG0229 122.49 122.99 585 0.50 0.33 408 7.17 0.69 T17W Test
ZKG0427 132.53 133.51 544 0.98 0.65 115 0.41 0.03 T17 Stepout
ZKT3324 213.69 214.06 716 0.37 0.33 149 0.04 0.13 T39 Test
ZKG0230 207.47 207.89 592 0.42 0.20 31 2.44 0.08 T17W Test
ZKG0628 30.36 30.69 634 0.33 0.25 321 1.01 0.15 T16Wbranch Test
  111.51 112.05 581 0.54 0.41 135 6.54 0.17 T17 Stepout
ZKGA2202 24.43 25.02 821 0.59 0.56 1,022 1.70 0.95 T14W Test
LME MINE                    
ZKL5423 296.00 296.34 226 0.34 0.24 24 1.55 2.74 LM6E Test
  497.66 498.30 39 0.64 0.44 192 1.35 1.45 LM5E2 Test
ZKG0405 343.32 344.00 708 0.68 0.60 484 6.38 3.20 LM3 Test
ZKG1431 328.63 330.09 635 1.46 0.54 76 2.34 0.30 LM1 Test
  360.50 361.01 617 0.51 0.27 1,655 6.32 2.66 LM18 Test
ZKL6803 250.15 250.56 447 0.41 0.35 52 1.64 0.61 LM5 Stepout
  274.20 275.14 428 0.94 0.79 186 0.70 0.29 LM5E Stepout
ZKL7202 218.32 218.71 494 0.39 0.33 277 1.52 0.73 LM5 Stepout
  248.46 248.95 472 0.49 0.42 99 1.03 0.12 LM5E Stepout
ZKL7203 48.97 50.13 614 1.16 1.88 133 1.39 0.09 LM6W Test
  250.79 251.73 443 0.94 0.73 88 0.44 0.24 LM5 Stepout
  274.78 275.40 422 0.62 0.48 69 1.49 0.30 LM5E Stepout
ZKL1201 73.05 73.57 637 0.52 0.52 471 0.14 0.04 LM2_2 Test
  110.12 110.50 627 0.38 0.38 17 2.22 2.68 LM2branch Test
ZKL6804 420.80 421.18 275 0.38 0.29 80 5.76 1.82 LM5E2 Test
ZKL1202 88.30 88.75 612 0.45 0.44 686 1.06 0.09 LM2_2 Test
  178.40 178.80 566 0.40 0.39 51 12.94 0.69 LM2 Test
ZKL5951 190.03 193.84 691 3.81 3.40 69 3.85 0.18 LM3 Test
*Test: intersections in open areas without known mineralization for new resource delineation
**Stepout: intersections adjacent to existing resource blocks for resource expansion
 

Table 2: Selected mineralized zones exposed by drift tunneling at the TLP and LME mines

<td class="gnw_align_center gnw_

Tunnel ID Target
Vein
Level
(m)
Length
(m)
True Width
(m)
Ag (g/t)    Pb (%)    Zn (%)
TLP MINE              
PD1070-T2-1070-4SYM T2 1070 40 1.17 151 1.97 0.10
PD930-T2W1-930-S1-Extension T2 930 42 1.02 372 2.23 0.29
PD730-T2-610-31NYM T2 610 154 0.64 130 3.91 0.17
PD800-T3-800-35SNYM T3 800 30 1.12 181 2.34 0.14
PD800-T3-800-35NYM T3 800 30 0.53 112 3.62 0.32
PD730-T3-665-21SYM T3 665 45 0.67 14 4.63 0.16
PD1070-T5-1070-5NYM T5 1070 35 0.72 128 5.28 0.12
PD820-T11-650-4NYM T11 650 85 1.06 199 5.36 0.66
PD820-T11-650-4SYM T11 650 55 0.74 518 4.76 0.35
PD820-T14-755-2NYM T14 755 45 0.59 105 3.00 0.23
PD820-T14-755-1NYM T14 755 65 0.96 357 3.85