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Silvercorp Metals hits high-grade silver and zinc at its SGX mine in China

Published: 08:48 24 Jan 2022 EST

Silvercorp Metals Inc -
Silvercorp said assay results for 209 of the 327 diamond drill holes drilled have been received, with 102 holes intercepting mineralization

Silvercorp Metals Inc (TSX:SVM, AMEX:SVM) has announced additional intercepts from the 2021 exploration program at its SGX mine in China, which included 3.2 meters (m) of 2,532 grams per tonne (g/t) silver and 14.4% zinc from 58.4m depth.

The company said assay results for 209 of the 327 diamond drill holes have been received, with 102 holes intercepting mineralization. 

Silvercorp noted that most holes drilled during the July 1 to December 31, 2021 period targeted blocks of known silver-lead-zinc veins in production areas that were previously missed due to limited drilling or tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins. 

READ: Silvercorp Metals hikes gold, silver, lead, and zinc production in its fiscal 3Q, thanks to its flagship Ying project in China

It added that since access tunnels are already in place, any high-grade mineralization discovered can quickly be converted to reserves and mined.

Silvercorp said there are 19 rigs drilling at the SGX mine.

The company noted the drill program’s strategy is to:

  • Drill above or beneath the stopes that were previously mined but stopped due to more variation in grades, thickness and attitudes of the vein structures than previously modeled;
  • Drill for silver-lead-zinc veins in the resource area at higher elevations closer to surface where there are limited drill holes from previous drilling programs;
  • Drill for gold-silver veins in the resource area that were not prioritized in previous drilling programs and;
  • Drill step-outs to the east of the resource area to confirm the continuity of the newly discovered gold-silver veins.

Silvercorp is a profitable Canadian mining company producing silver, lead, and zinc metals in concentrates from mines in China. The company has six mines that make up its Ying project.

Contact Sean at sean@proactiveinvestors.com

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