Silvercorp drills 1.28 m of 1,669 g/t silver at TLP

2013-04-15 17:24 ET - News Release

 

Mr. Jonathan Hackshaw reports

SILVERCORP REPORTS UNDERGROUND DIAMOND DRILLING AND TUNNELING EXPLORATION RESULTS FOR THE SECOND HALF OF 2012 AT THE TLP MINE, YING MINING DISTRICT, CHINA

Silvercorp Metals Inc. is providing the results from its 2012 underground diamond drilling and tunnelling exploration programs for the second half of 2012 at the TLP mine, Ying mining district, Henan province, China.

Highlights of selected intercepts in drill holes:

 

--  Hole ZKT0331 intercepted an interval of 1.91 metres ("m"), 1.28m true    width of vein T33 grading 1,669 grams per tonne ("g/t") silver ("Ag"),    0.82% lead ("Pb") and 0.29% zinc ("Zn") at the 877m elevation; and an    interval of 1.11m, 0.74m true width of vein T33E grading 115 g/t Ag,    0.46% Pb and 0.03% Zn at the 771m elevation; --  Hole ZKT1731 intercepted an interval of 1.54m, 1.19m true width of vein    T33E grading 1,016 g/t Ag, 5.48% Pb and 0.80% Zn at the 922m elevation; --  Hole ZKG0404 intercepted an interval of 3.58m, 2.57m true width of vein    T16E grading 233 g/t Ag, 1.95% Pb and 0.60% Zn at the 838m elevation,    including an interval of 0.90m, 0.65m true width grading 702 g/t Ag,    6.77% Pb and 1.94% Zn; and an interval of 1.67m, 1.22m true width of    vein T11 grading 1,023 g/t Ag, 6.18% Pb and 0.96% Zn at the 553m    elevation; --  Hole ZKG0621 intercepted four veins: an interval of 1.07m, 1.04m true    width of vein T16E grading 669 g/t Ag, 0.97% Pb and 0.12% Zn at the 838m    elevation, an interval of 1.13m, 1.10m true width of vein T16E2 grading    449 g/t Ag, 3.16% Pb and 0.30% Zn at the 806m elevation, an interval of    0.81m, 0.79m true width of vein T15W1 grading 221 g/t Ag, 0.98% Pb and    0.13% Zn at the 799m elevation, and an interval of 1.09m, 1.06m true    width of vein T11 grading 320 g/t Ag, 0.93% Pb and 1.03% Zn at the 729m    elevation; and --  Hole ZKG0622 intercepted three veins: an interval of 1.27m, 1.12m true    width of vein T16E grading 909 g/t Ag, 5.35% Pb and 0.49% Zn at the 837m    elevation, an interval of 1.59m, 1.26m true width of vein T15W1 grading    348 g/t Ag, 4.02% Pb and 0.19% Zn at the 770m elevation, and an interval    of 1.52m, 1.35m true width of vein T15 grading 1,150 g/t Ag, 2.18% Pb    and 0.10% Zn at the 717m elevation. 

 

The purpose of the 11,916m underground tunneling program in 2012 was to further delineate and upgrade the previous drill-defined resource blocks within major vein structures T1, T1W, T1W1, T1W3, T2, T3, T16, T16W, T22, T33 and T34 between the 510m and the 990m elevations. Drift and crosscut tunnels have been developed at 30m to 50m intervals. A total of 5,619 chip samples were collected. Mineralized zones were exposed in drift tunnels on different levels along the major vein structures.

The 2012 underground diamond drilling program was designed to test the downdip and strike extension of the major mineralized vein structures and to explore for new vein structures. A total of 23,709m in 73 holes was completed and 3,336 core samples were collected. Assay results for 22 holes were received by the end of June 2012 and were reported by the Company on August 27, 2012 via news release.

In the second half of 2012, the Company revised its underground drilling strategy. Instead of focusing on step out drilling at depths below the current mining depth, the Company tested the lateral extensions by conducting in-fill and step-out drilling at shallow depth on the upper portions of the major production vein structures at or above the 700m elevation. As previously reported via news release on February 13, 2013, this strategy has been successful in defining additional high grade mineralization of production veins and discovered several new veins at shallow depth where mine development exits. As of March 10, 2013, assay results for 51 holes had been received. 44 of the 51 holes with new assay results intercepted single or multiple mineralized zones.

Seven new mineralized vein structures, T23, T33W3, T41, T16E1, T16E2, T15W and T15W1 were also discovered as a result of the 2012 underground tunneling and diamond drilling program. A summary of these new vein structures is as follows:

 

--  Vein structure T15W: T15W is located 10m to 30m parallel to the west of    vein T15 and the discovery was made by underground drilling from access    tunnel PD820 at the 820m elevation. The mineralized vein structure has    been intercepted between the 649m and 796m elevations by 6 holes drilled    between exploration lines 4 and 6. --  Vein structure T15W1: T15W1 is located 40m to 70m parallel to the west    of vein T15 and the discovery was made by underground drilling. The    mineralized vein structure has been intercepted between the 696m and    808m elevations by 6 holes drilled between exploration lines 4 and 6. --  Vein structure T16E1: T16E1 is located 50m to 70m parallel to the east    of vein T16. The mineralized vein structure has been intercepted between    the 765m and 828m elevations by 6 holes drilled between exploration    lines 4 and 6. --  Vein structure T16E2: T16E2 is located 80m to 90m parallel to the east    of vein T16. The mineralized vein structure has been intercepted between    the 735m and 814m elevations by 6 holes drilled between exploration    lines 4 and 6. --  Vein structure T23: T23 is located 120m parallel to the east of vein    T33. Mineralized zones have been intersected by drifting along the vein    developed on the 930m, 890m and 840m levels between exploration lines 5    and 11. --  Vein structure T33W3: T33W3 is located 100m to 120m parallel to the west    of T33, which was intersected by drifting along the vein at the 800m    level. A zone of mineralization 105m in length has been defined. --  Vein structure T41: T41 is located 30m to 40m to the west of vein T27    and was intersected by a drift tunnel developed on the 930m level. A    zone of mineralization 40m in length within the vein has been defined. 

 

Tables 1 and 2 below list the assay results of some selected mineralized zones that were exposed in tunnels and via drilling.

In 2013 Silvercorp has planned an exploration and resource development program at the TLP mine consisting of 9,790m of underground tunneling and 14,500m of underground drilling. The goals of the program are: infill drilling of previously defined resource blocks at shallower depths; exploration along strike (lateral) and up dip (shallower) of the extensions of major producing veins; and exploration for parallel vein structures in the hanging wall and footwall of known mineralized veins. Where possible, the program will take advantage of existing underground mine development to access new discoveries and will drive new tunnels as required to provide drill stations in prospective areas beyond the reach of existing mine workings.

 

Table 1: Selected tunneling results from the TLP Mine                                                                                                   ----------------------------------------------------------------------------                                Length              Weighted Average                                            of      --------------------------------                           Mineralized      Horizontal  True                                  Elevation       Zone           Width Width    Ag   Pb   ZnTunnel ID               (m)        (m)  Vein       (m)   (m) (g/t)  (%)  (%)----------------------------------------------------------------------------PD840-840-T1W3-                                                              7SYM                   840         40  T1W3      0.52  0.48   451 1.36 0.03----------------------------------------------------------------------------PD820-798-T16W-                                                              12NYM&12SYM            798         55  T16W      0.60  0.56   216 0.71 0.39----------------------------------------------------------------------------PD730-730-T34-                                                               23NYM                  730         65   T34      0.59  0.54   147 4.42 0.27----------------------------------------------------------------------------PD840-874-T14-                                                               21TJ-NYM&SYM           874         55   T14      0.60  0.55   201 1.84 0.32----------------------------------------------------------------------------PD820-820-T16-                                                               10SYM                  820         60   T16      0.44  0.42   176 1.41 0.30----------------------------------------------------------------------------PD960-960-T22-0SYM      960         49   T22      0.86  0.84   211 4.95 0.12----------------------------------------------------------------------------PD930-930- W3-                                                               5SYM&NYM               930         80   T23      0.51  0.46   184 2.03 0.22----------------------------------------------------------------------------PD890-890-T23-                                                               11SYM                  890        145   T23      0.75  0.68   264 5.04 0.11----------------------------------------------------------------------------PD840-840-T23-7NYM      840         64   T23      0.69  0.62   214 4.80 0.22----------------------------------------------------------------------------PD930-930-T33-                                                               13SYM                  930        245   T33      0.79  0.73   338 1.80 0.28----------------------------------------------------------------------------PD930-930-                                                                   T33Branch-                                                                  11SYM&NYM              930        189   T33      0.91  0.84   567 0.67 0.15----------------------------------------------------------------------------PD800-800-T33W3-                                                             19SYM&NYM              800        105 T33W3      0.43  0.41   295 2.67 0.56----------------------------------------------------------------------------PD820-691-T16-6SYM      691         65   T16      0.64  0.61   253 3.40 0.13----------------------------------------------------------------------------  

 

 

                                                                          Table 2: Selected drilling results from the TLP Mine                                                                                                    ----------------------------------------------------------------------------                                          True                                          From     ToElevationInterval Width    Ag    Pb    Zn MineralizedHole ID      (m)    (m)      (m)     (m)   (m) (g/t)   (%)   (%) Vein       ----------------------------------------------------------------------------ZKG0805   226.42 227.07      759    0.65  0.62   178  0.64  0.14 T16E                 277.68  278.1      741    0.42  0.40   192  1.00  0.13 T15-Branch           289.78 290.21      737    0.43  0.41 1,544  1.48  0.66 T15        ----------------------------------------------------------------------------ZKT0232    79.63  84.29      841    4.66  3.92   187  3.03  0.28 T1W1       ----------------------------------------------------------------------------ZKT0054   329.44 330.58      691    1.14  0.95   149  0.32  0.18 T17W                 437.47 438.69      602    1.22  0.56   440  3.61  0.20 T17        ----------------------------------------------------------------------------ZKG1004   180.01 181.17      698    1.16  0.78   679  3.16  0.70 T16W                 223.44 224.01      665    0.57  0.47 4,534  4.07  0.26 T16                  433.51 433.75      508    0.24  0.22   258  0.14  0.04 T11E       ----------------------------------------------------------------------------ZKT0003   366.78 367.61      473    0.83  0.58 1,052  1.05  0.02 T3         ----------------------------------------------------------------------------ZKG0401     1.13   1.58      838    0.45  0.39   967  4.61  0.26 T16E                  29.01  29.52      828    0.51  0.44   235  5.90  0.13 T16E1                                                                       T15W1-                72.61  73.86      812    1.25  1.07   233  4.80  0.12 Branch                85.58  85.95      808    0.37  0.32    42 13.87  0.46 T15W1                117.41 118.37      796    0.96  0.82   211  3.80  0.46 T15W       ----------------------------------------------------------------------------ZKT0331    19.93  21.84      877    1.91  1.28 1,669  0.82  0.29 T33                  174.05 175.16      771    1.11  0.74   115  0.46  0.03 T33E       ----------------------------------------------------------------------------ZKG1005   175.15 177.72      678    2.57  0.73   120  1.25  0.20 T17                  230.18 232.14      630    1.96  1.31   176  1.20  0.20 T16W                 469.02 469.78      418    0.76  0.58   158 11.25  4.85 T11E       ----------------------------------------------------------------------------ZKG1801   140.97 141.91      747    0.94  0.81   284  0.45  0.36            ----------------------------------------------------------------------------ZKG0402     0.68   1.71      838    1.03  0.90   411  0.66  0.08 T16E                  92.24  92.91      779    0.67  0.59   101  3.57  0.42 T15W1                156.78 157.32      738    0.54  0.46   264  4.79  0.06 T15        ----------------------------------------------------------------------------ZKT0332   381.92 382.72      794    0.80  0.51   398  1.19  0.12 T1W1       ----------------------------------------------------------------------------ZKT1001  134.054134.744      722    0.69  0.65   584  1.51  2.18 T1W1       ----------------------------------------------------------------------------ZKG0403      2.6   3.79      836    1.19  0.96   180  2.76  0.20 T16E                  52.75  54.01      794    1.26  1.02    17  3.25  0.32 T16E1                 76.28  78.54      774    2.26  1.83   195  3.96  0.25 T16E2                 107.1 107.86      748    0.76  0.61   150  1.84  0.34 T15W1                                                                       T15W1-               131.04 131.64      727    0.60  0.49   132  1.16  0.02 Branch                159.9 162.04      703    2.14  1.73   121  1.12  0.08 T15W                 218.47 219.45      654    0.98  0.75    15  3.16  0.07 T15E                 283.16 284.53      599    1.37  1.05   126  1.15  0.36 T11        ----------------------------------------------------------------------------ZKG1803   304.27 304.84      539    0.57  0.34   231  0.31  0.18 T11        ----------------------------------------------------------------------------ZKG1601   246.52 247.26      741    0.74  0.53   230  2.29  0.81 T11E       ----------------------------------------------------------------------------ZKT1731   109.29 109.79      939    0.50  0.38   285  0.51  0.07 T1W                  169.86  171.4      922    1.54  1.19 1,016  5.48  0.80 T33E       ----------------------------------------------------------------------------ZKG0404      0.9   4.48      838    3.58  2.57   233  1.95  0.60 T16E       Including    0.9    1.8      838    0.90  0.65   702  6.77  1.94                      220.53 221.07      632    0.54  0.39   119  1.33  0.06 T15                  304.94 306.61      553    1.67  1.22 1,023  6.18  0.96 T11        Including 304.94  305.9      553    0.96  0.70 1,761  9.45  4.30            ----------------------------------------------------------------------------ZKT3904   247.98 249.97      518    1.99  1.97   100  4.07  0.27 T3         ----------------------------------------------------------------------------ZKT1523    88.78  89.47      989    0.69  0.61   217  0.87  0.07 T1W        ----------------------------------------------------------------------------ZKG1602   175.63 176.96      711    1.33  0.93   352  0.57  0.13 T11                  258.32  260.5      653    2.18  1.53   274  1.04  0.40 T11E       ----------------------------------------------------------------------------ZKG0621     1.38   2.45      838    1.07  1.04   669  0.97  0.12 T16E       Including   1.38   1.75      838    0.37  0.36 1,302  2.61  0.33                       61.79  62.92      806    1.13  1.10   449  3.16  0.30 T16E2                 75.08  75.89      799    0.81  0.79   221  0.98  0.13 T15W1                                                                       T15W1-                88.82  89.53      791    0.71  0.69   108  0.42  1.12 Branch               207.61  208.7      729    1.09  1.06   320  0.93  1.03 T11        ----------------------------------------------------------------------------ZKG2021   148.78 150.11      768    1.33  1.30   127  1.40  0.21 T11        ----------------------------------------------------------------------------ZKT1732   202.53 203.67      951    1.14  0.99   323  0.30  0.35 T33-Branch           255.25 256.06      947    0.81  0.70   112  0.23  0.13 T33W       ----------------------------------------------------------------------------ZKG0622     2.29   3.56      837    1.27  1.12   909  5.35  0.49 T16E       Including   2.29   3.04      837    0.75  0.65 1,543  9.10  0.83                       84.27  85.86      770    1.59  1.26   348  4.02  0.19 T15W1                149.92 151.44      717    1.52  1.35 1,150  2.18  0.10 T15        ----------------------------------------------------------------------------ZKT0521   211.94 213.04      851    1.10  0.94   158  3.05  0.21 T14                  335.52 336.56      807    1.04  0.89   117  0.43  0.11 T17        ----------------------------------------------------------------------------ZKG0623   129.31 131.26      718    1.95  0.74    56  4.66  0.14 T15W1                214.39 216.75      639    2.36  1.20   115  0.57  0.07 T15        ----------------------------------------------------------------------------ZKG0221    66.94  68.25      810    1.31  0.99    31  0.95  0.08 T16E1                149.21 154.85             5.64  4.27   146  0.98  0.22 T15W       ----------------------------------------------------------------------------ZKT4307   150.09 152.04      488    1.95  1.58   145  0.41  0.11 T1W        ----------------------------------------------------------------------------ZKG1603   318.34 319.95      546    1.61  0.98   113  0.13  0.14 T11E       ----------------------------------------------------------------------------ZKG0806    71.92  73.56      798    1.64  1.23   285  1.29  0.23 T17                  178.73 179.69      743    0.96  0.78    37  0.56  0.08 T16                  363.55 367.36      650    3.81  3.31   194  4.09  0.78 T11        ----------------------------------------------------------------------------

 

Rujin Jiang, P. Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.