Bulletin
Investor Alert

press release

Jan. 24, 2022, 6:55 a.m. EST

SILVERCORP INTERSECTS 1.35 METRES TRUE WIDTH GRADING 2,532 GRAMS PER TONNE SILVER AND 14.38% ZINC FROM VEIN S31 AT THE SGX MINE

VANCOUVER, BC, Jan. 24, 2022 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") /zigman2/quotes/210397281/delayed CA:SVM +4.87% /zigman2/quotes/209674256/composite SVM +3.56% is pleased to report additional high-grade intercepts from its 2021 exploration program at the SGX mine. Extensive exploration drilling and tunneling are ongoing at the SGX mine and all other mines in the Ying Mining District, Henan Province, China.

From July 1 to December 31, 2021, 52,634 metres ("m") from a total of 327 diamond drill holes, including 272 underground holes and 55 surface holes, were completed at the SGX mine. Assay results for 209 holes have been received, with 102 holes intercepting mineralization. The Company also received assay results for  33 holes pending from the previous drilling program at the SGX mine from October 1, 2020 to June 30, 2021 disclosed in the Company's news release dated July 6, 2021. Currently, there are 19 rigs drilling at the SGX mine.

The strategy of the drilling program is fourfold: 1) 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; 2) 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; 3) drill for gold-silver veins in the resource area that were not prioritized in previous drilling programs; and 4) drill step-outs to the east of the resource area to confirm the continuity of the newly discovered gold-silver veins.

Drilling Above or Beneath Previously Mined Stopes and Near Surface Silver-Lead-Zinc Veins within the Resource Area

Most holes drilled during this 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. The high-grade intercepts are mainly associated with the northwest-dipping S2 series, S6 series, S7 series, S8 series, S14 series, S18 series, S19 series, S21 series, east-dipping S31, S28, S29, and S32 veins, which have resulted in a significant amount of upgraded resources. Since access tunnels are already in place, any high-grade mineralization discovered can quickly be converted to reserves and mined.

Highlights of the high-grade silver-lead-zinc intercepts at the SGX mine:

  • Hole ZK02AS6E1007 intersected a 3.19 m interval (1.35 m true width) of vein S31 grading 2,532 grams per tonne ("g/t') silver ("Ag"), 0.69% lead ("Pb"), 14.38% zinc ("Zn"), 0.05 g/t gold ("Au"), and 0.12% copper ("Cu") from 58.35 m depth, at an elevation of 372 m;

  • Hole ZK12S7001 intersected a 2.02 m interval (1.65 m true width) of vein S7a1 grading 1,315 g/t Ag, 14.36% Pb, 0.84% Zn, 0.24 g/t Au, and 0.23% Cu from 161.50 m depth, at an elevation of 300 m;

  • Hole ZK62S3101 intersected a 0.97 m interval (0.89 m true width) of vein S31 grading 1,764 g/t Ag, 36.49% Pb, 5.72% Zn, 0.13 g/t Au, and 0.27% Cu from 80.19 m depth, at an elevation of 239 m;

  • Hole ZK04AS6E1002 intersected a 0.84 m interval (0.76 m true width) of vein S2 grading 2,497 g/t Ag, 29.05% Pb, 5.78% Zn, 0.12 g/t Au, and 0.23% Cu from 3.31 m depth, at an elevation of 353 m;

  • Hole ZK50S2914 intersected a 1.22 m interval (0.88 m true width) of vein S29 grading 2,097 g/t Ag, 1.44% Pb, 20.61% Zn, 0.32 g/t Au, and 0.12% Cu from 218.16 m depth, at an elevation of 341 m; and

  • Hole ZK04AS6E1005 intersected a 3.50 m interval (3.35 m true width) of vein S2 grading 291 g/t Ag, 7.41% Pb, 0.94% Zn, 0.12 g/t Au, and 0.04% Cu from 3.04 m depth, at an elevation of 354 m.

Drilling for Previous Low Priority Gold-Silver Veins within the Resource Area and Step-Out Drilling Intersecting Gold-Silver Veins 400 m to the East of the Resource Area

The drilling continued intersecting and extending the east dipping gold-silver S16 series, including S16W, S16W1, S16E, and S16E3. A total of 44 holes, including 38 holes from this period and six holes pending from the previous drilling program, targeted the S16 vein series.  Together with the tunneling programs, the drill programs defined a mineralized block with a N-S strike length of 500 m, and a 150 m down-dip extension. Drilling was focused within the central portion of the block (300 m by 100 m), with drill hole spacing ranging between 15 m by 15 m and 25 m by 25 m. Assay results for 33 holes from the previous drilling program were returned, with 23 holes intersecting gold mineralization.

The Company's No. 1 mill has been upgraded by installing a Knelson Gravity Concentrator to maximize gold-silver ore recovery from the SGX, HPG, LMW, and DCG mines.

Step-out drilling confirmed the continuity of the gold-silver bearing S11 and S11E veins, approximately 400 m east of the resource area. The S11 series gold-silver veins are sub-vertical and strike along a northeast-southwest trend. 

Highlights of the gold silver intercepts at the SGX mine:

  • Hole ZK68AS16W002 intersected a 5.38 m interval (5.36 m true width) of vein S16W grading 52 g/t Ag, 1.08% Pb, 0.39% Zn, 3.93 g/t Au, and 0.01% Cu from 37.67 m depth, at an elevation of 340 m;

  • Hole ZK74S16W08 intersected a 1.74 m interval (1.58 m true width) of vein S16E3 grading 3 g/t Ag, 0.01% Pb, 0.01% Zn, 5.57 g/t Au, and 0.01% Cu from 92.90 m depth, at an elevation of 246 m; and

  • Hole ZK66AS16W002 intersected a 1.33 m interval (1.30 m true width) of vein S16W grading 56 g/t Ag, 0.34% Pb, 0.72% Zn, 4.61 g/t Au, and 0.04% Cu from 67.13 m depth, at an elevation of 341 m.

Table 1: Selected intercepts from the drilling programs at the SGX mine

Hole ID From(m) To (m) Elevation(m) interval(m) True Width (m) Ag(g/t) Pb(%) Zn(%) Au(g/t) Cu(%) Veins Ore Type
ZK01BS7_2003 116.95 117.46 194 0.51 0.44 74 4.45 0.27 0.16 0.02 S7_2 Ag-Pb-Zn
ZK01BS7_2007 93.55 94.30 255 0.75 0.48 275 18.73 0.30 0.05 0.03 S16W2 Ag-Pb-Zn
ZK01BS7_2007 114.32 120.19 252 5.87 5.27 193 6.32 0.08 0.06 0.02 S7_2 Ag-Pb-Zn
incl 114.32 115.05 253 0.73 0.65 1,058 45.45 0.05 0.05 0.10 S7_2 Ag-Pb-Zn
ZK01BS7_2007 179.64 180.52 245 0.88 0.68 71 0.16 5.27 0.05 0.08 S7_1E Ag-Pb-Zn
ZK01BS7_2012 121.14 123.38 194 2.24 1.92 362 0.34 0.12 0.09 0.03 S7_2 Ag-Pb-Zn
ZK01BS7_2013 129.25 129.95 199 0.70 0.55 1,663 35.93 0.34 0.05 0.12 S7_2 Ag-Pb-Zn
ZK02AS6001 86.32 88.53 388 2.21 1.46 342 5.68 3.64 0.05 0.03 S6 Ag-Pb-Zn
ZK02AS6001 89.78 91.77 387 1.99 1.34 242 1.16 6.23 0.13 0.03 S2 Ag-Pb-Zn
ZK02AS6002 60.91 61.56 388 0.65 0.55 300 1.03 5.82 0.05 0.07 S6E1 Ag-Pb-Zn
ZK02AS6003 8.89 9.55 402 0.66 0.58 568 8.02 1.25 0.11 0.16 S14 Ag-Pb-Zn
ZK02AS6003 142.83 143.43 386 0.60 0.43 230 0.96 9.74 0.14 0.06 S2 Ag-Pb-Zn
ZK02AS6E1001 30.56 31.29 389 0.73 0.55 2,244 40.30 4.28 0.21 0.18 S31 Ag-Pb-Zn
ZK02AS6E1004 41.53 42.32 374 0.79 0.76 470 0.81 5.19 0.05 0.07 S31 Ag-Pb-Zn
ZK02AS6E1006 50.91 51.81 370 0.90 0.49 3,358 17.50 6.52 0.05 0.41 S31 Ag-Pb-Zn
ZK02AS6E1007 58.35 61.54 372 3.19 1.35 2,532 0.69 14.38 0.05 0.12 S31 Ag-Pb-Zn
incl 59.03 60.61 372 1.58 0.67 5,064 1.08 27.72 0.05 0.23 S31 Ag-Pb-Zn
ZK02AS6E1008 34.83 36.57 388 1.74 1.43 123 1.40 1.18 0.06 0.03 S31 Ag-Pb-Zn
ZK02AS6E1009 65.86 67.13 391 1.27 0.61 815 0.20 1.54 0.10 0.08 S31 Ag-Pb-Zn
ZK02BS6001 96.96 98.65 374 1.69 0.76 261 1.96 3.43 0.03 0.03 S29 Ag-Pb-Zn
ZK02S6002 139.30 139.99 374 0.69 0.62 159 0.16 0.15 0.04 0.00 S37 Ag-Pb-Zn
ZK02S7_210 102.38 105.08 438 2.70 1.79 251 1.27 1.87 0.05 0.04 S7_2 Ag-Pb-Zn
ZK04AS14002 48.36 49.08 242 0.72 0.41 674 16.45 1.63 0.11 0.05 S31 Ag-Pb-Zn
ZK04AS14004 46.55 47.25 247 0.70 0.69 444 6.81 1.16 0.05 0.08 S31 Ag-Pb-Zn
ZK04AS14010 4.74 5.55 353 0.81 0.68 200 3.99 1.43 0.02 0.03 S2 Ag-Pb-Zn
ZK04AS14010 10.99 11.74 352 0.75 0.54 393 6.98 11.09 0.03 0.13 S6 Ag-Pb-Zn
ZK04AS14010 65.07 66.01 345 0.94 0.94 477 0.77 1.27 0.07 0.08 S31 Ag-Pb-Zn
ZK04AS14012 8.78 9.40 349 0.62 0.54 691 16.41 6.28 0.05 0.04 S6 Ag-Pb-Zn
ZK04AS14012 128.27 129.50 316 1.23 1.21 1,003 0.56 6.19 0.09 0.54 S14 Ag-Pb-Zn
ZK04AS14013 2.46 2.96 354 0.50 0.39 456 1.52 1.23 0.05 0.02 S2 Ag-Pb-Zn
ZK04AS2006 26.07 26.85 257 0.78 0.62 138 4.08 0.43 0.13 0.01 S29 Ag-Pb-Zn
ZK04AS2006 145.15 145.85 226 0.70 0.37 730 3.49 14.32 0.10 0.13 S2 Ag-Pb-Zn
ZK04AS2009 140.33 141.01 227 0.68 1.49 205 2.78 6.80 0.05 0.04 S6 Ag-Pb-Zn
ZK04AS31001 69.28 69.93 245 0.65 0.56 69 2.71 2.96 0.05 0.03 S31 Ag-Pb-Zn
ZK04AS37004 19.27 20.44 345 1.17 1.15 151 0.43 2.31 0.05 0.02 S29 Ag-Pb-Zn
ZK04AS37004 36.47 37.55 337 1.08 0.68 167 5.01 0.97 0.05 0.04 S37E Ag-Pb-Zn
ZK04AS6003 98.67 99.52 237 0.85 0.54 304 3.98 3.70 0.03 0.03 S2 Ag-Pb-Zn
ZK04AS6004 102.13 102.77 239 0.64 0.44 643 1.26 13.83 0.24 0.18 S6 Ag-Pb-Zn
ZK04AS6005 164.49 165.08 227 0.59 1.81 96 1.86 0.49 0.03 0.00 S2a Ag-Pb-Zn
ZK04AS6005 164.49 167.05 227 2.56 1.81 96 1.86 0.49 0.03 0.00 S2a Ag-Pb-Zn
ZK04AS6E1002 3.31 4.15 353 0.84 0.76 2,497 29.05 5.78 0.12 0.23 S2 Ag-Pb-Zn
ZK04AS6E1002 9.45 10.06 351 0.61 0.40 215 5.07 11.09 0.16 0.11 S6 Ag-Pb-Zn
ZK04AS6E1002 50.55 51.16 340 0.61 0.55 2,321 7.16 5.14 0.15 0.18 S6E Ag-Pb-Zn
ZK04AS6E1002 67.44 68.09 335 0.65 0.56 2,385 3.91 6.21 0.12 0.22 S14_2 Ag-Pb-Zn
ZK04AS6E1003 0.79 1.32 353 0.53 0.50 299 5.35 0.99 0.03 0.02 N/A [1] Ag-Pb-Zn
ZK04AS6E1003 3.53 4.18 351 0.65 0.61 955 32.65 3.47 0.03 0.12 S2 Ag-Pb-Zn
ZK04AS6E1003 9.75 10.45 348 0.70 0.66 422 7.34 10.76 0.06 0.05 S6 Ag-Pb-Zn
ZK04AS6E1003 79.81 80.42 308 0.61 0.44 292 1.56 1.79 0.14 0.03 S6E1 Ag-Pb-Zn
ZK04AS6E1005 3.04 6.54 354 3.50 3.35 291 7.41 0.94 0.12 0.04 S2 Ag-Pb-Zn
incl 5.75 6.54 353 0.79 0.76 1,197 30.88 4.07 0.15 0.13 S2 Ag-Pb-Zn
ZK04AS6E1005 11.56 12.16 351 0.60 0.55 179 3.71 7.24 0.14 0.07 S6 Ag-Pb-Zn
ZK04AS6E1005 34.77 35.32 344 0.55 0.51 106 2.89 1.00 0.05 0.02 S6E Ag-Pb-Zn
ZK04AS6E1005 66.12 66.64 335 0.52 0.51 233 1.93 3.31 0.05 0.06 S6E1 Ag-Pb-Zn
ZK04AS6E1005 130.53 131.18 316 0.65 0.62 363 0.21 0.42 0.05 0.23 S14 Ag-Pb-Zn
ZK04AS6E1007 1.49 2.09 353 0.60 0.60 260 3.41 0.16 0.05 0.03 S2 Ag-Pb-Zn
ZK04AS6E1007 8.64 9.17 349 0.53 0.52 123 10.95 2.04 0.05 0.02 S6 Ag-Pb-Zn
ZK04AS6E1009 7.32 8.13 351 0.81 0.72 679 12.47 10.11 0.03 0.05 S2 Ag-Pb-Zn
ZK04AS7_207 91.79 92.44 428 0.65 0.43 529 0.15 0.20 0.05 0.03 S7W Ag-Pb-Zn
ZK04AS7_207 101.57 102.27 421 0.70 0.44 535 40.14 5.94 0.05 0.13 S7_2 Ag-Pb-Zn
ZK04AS8008 35.57 36.61 400 1.04 0.94 64 2.17 1.49 0.02 0.03 S7E Ag-Pb-Zn
ZK04AS8009 51.89 52.42 383 0.53 0.41 367 3.19 4.47 0.07 0.07 S7Ea Ag-Pb-Zn
ZK04S19003 22.77 24.09 557 1.32 1.18 160 0.88 2.12 0.05 0.02 S19 Ag-Pb-Zn
ZK04S21W101 93.08 94.35 406 1.27 1.18 273 2.91 0.84 0.06 0.03 S16E1 Ag-Pb-Zn
ZK04S6005 32.16 32.78 448 0.62 0.59 430 1.46 2.20 0.05 0.04 S31 Ag-Pb-Zn
ZK04S6012 39.10 40.93 440 1.83 1.53 167 2.21 1.26 0.05 0.03 S31 Ag-Pb-Zn
ZK04S6E1001 8.71 10.21 351 1.50 1.45 153 4.64 0.28 0.03 0.01 S6 Ag-Pb-Zn
ZK04S6E1002 1.53 2.25 353 0.72 0.64 242 6.79 0.15 0.03 0.03 S2 Ag-Pb-Zn
ZK04S6E1002 8.18 8.75 349 0.57 0.52 389 3.91 2.89 0.04 0.02 S6 Ag-Pb-Zn
ZK06S601 15.45 16.53 348 1.08 0.77 25 2.39 1.99 0.05 0.01 S6E Ag-Pb-Zn
ZK06S601 35.52 37.49 339 1.97 0.90 647 13.80 4.36 0.05 0.06 S6 Ag-Pb-Zn
ZK06S602 3.67 4.48 353 0.81 0.55 124 1.51 2.74 0.05 0.02 S6E1 Ag-Pb-Zn
ZK06S602 40.27 41.93 339 1.66 0.80 46 1.09 5.14 0.05 0.03 S6 Ag-Pb-Zn
ZK06S604 0.00 1.33 353 1.33 0.83 860 19.62 8.78 0.14 0.14 S14_2 Ag-Pb-Zn
ZK06S604 4.37 5.01 352 0.64 0.50 356 10.37 4.21 0.05 0.04 S6E1 Ag-Pb-Zn
ZK06S604 32.44 33.01 344 0.57 0.41 593 11.31 2.48 0.12 0.04 S6E Ag-Pb-Zn
ZK06S604 78.05 79.40 332 1.35 0.48 471 13.94 3.19 0.05 0.07 S6 Ag-Pb-Zn
ZK06S605 4.42 4.93 352 0.51 0.33 761 11.24 1.66 0.03 0.05 S6E1 Ag-Pb-Zn
ZK06S605 96.32 97.28 310 0.96 0.95 72 1.11 10.51 0.03 0.05 S2 Ag-Pb-Zn
ZK06S606 0.00 0.79 352 0.79 0.50 2 6.82 6.13 0.18 0.12 S14_2 Ag-Pb-Zn
ZK06S606 30.61 31.56 343 0.95 0.67 84 0.99 2.61 0.03 0.02 S6E Ag-Pb-Zn
ZK06S606 56.21 59.27 336 3.06 2.15 151 0.24 2.47 0.13 0.02 S6 Ag-Pb-Zn
ZK06S606 76.37 77.37 330 1.00 0.60 327 5.68 9.15 0.03 0.08 S2 Ag-Pb-Zn
ZK06S606 86.73 88.56 327 1.83 0.66 147 2.43 0.12 0.03 0.01 S2W Ag-Pb-Zn
ZK06S607 0.00 1.36 355 1.36 0.62 858 13.09 6.89 0.12 0.10 S14_2 Ag-Pb-Zn
ZK06S607 64.87 66.18 342 1.31 0.65 96 0.30 10.60 0.03 0.03 S6a Ag-Pb-Zn
ZK06S607 78.53 79.98 340 1.45 0.44 271 8.51 4.09 0.02 0.04 S6 Ag-Pb-Zn
ZK07AS2804 122.97 125.83 443 2.86 2.82 400 0.48 0.91 0.06 0.22 S28E Ag-Pb-Zn
ZK08AS18E05 17.96 18.75 389 0.79 0.55 210 0.44 0.05 0.55 0.03 S18 Au-Ag
ZK08AS33001 38.70 39.20 391 0.50 0.47 857 1.64 3.53 5.34 0.06 S18 Au-Ag
ZK08AS33001 126.45 127.20 368 0.75 0.71 523 2.02 0.66 0.55 0.03 S35E Ag-Pb-Zn
ZK08AS33003 121.72 123.69 374 1.97 1.41 242 0.06 0.01 0.06 0.01 S33 Ag-Pb-Zn
ZK09S2803 145.72 146.36 441 0.64 0.61 90 4.88 1.89 0.05 0.10 S28 Ag-Pb-Zn
ZK10AS7001 60.59 61.26 347 0.67 0.66 291 4.33 0.92 0.08 0.08 S21a Ag-Pb-Zn
ZK10AS7001 110.45 111.63 340 1.18 1.11 252 0.67 0.81 0.04 0.05 S7W1 Ag-Pb-Zn
ZK10S16E001 15.67 16.26 452 0.59 0.52 419 0.06 0.07 0.49 0.01 S21Wa Ag-Pb-Zn
ZK10S33011 138.29 138.99 320 0.70 0.42 245 2.52 4.67 0.68 0.01 S33 Ag-Pb-Zn
ZK12S601 75.86 77.38 292 1.52 1.41 197 4.13 4.04 0.05 0.04 S6 Ag-Pb-Zn
ZK12S601 146.22 146.84 280 0.62 0.54 520 0.50 8.55 0.05 0.11 S14_1 Ag-Pb-Zn
ZK12S602 79.40 80.11 275 0.71 0.63 52 6.78 0.72 0.05 0.01 S6 Ag-Pb-Zn
ZK12S602 86.64 87.50 272 0.86 0.84 60 2.70 0.52 0.05 0.01 S31 Ag-Pb-Zn
ZK12S603 90.01 90.63 252 0.62 0.62 136 4.57 2.12 0.06 0.02 S6 Ag-Pb-Zn
ZK12S605 87.84 88.39 247 0.55 0.53 467 10.81 15.44 0.18 0.18 S6 Ag-Pb-Zn
ZK12S7001 57.68 58.53 336 0.85 0.72 142 4.69 0.53 0.09 0.06 S21a Ag-Pb-Zn
ZK12S7001 120.85 121.36 314 0.51 0.45 238 16.33 0.52 0.21 0.05 S7W Ag-Pb-Zn
ZK12S7001 161.50 163.52 300 2.02 1.65 1,315 14.36 0.84 0.24 0.23 S7a1 Ag-Pb-Zn
ZK13AS8E03 172.21 173.52 219 1.31 0.70 176 11.17 0.17 0.05 0.09 S8Wa Ag-Pb-Zn
ZK13AS8E04 122.60 123.80 236 1.20 0.81 134 1.41 0.47 0.04 0.06 S8 Ag-Pb-Zn
ZK13AS8E04 162.07 163.29 213 1.22 0.89 190 6.38 0.12 0.02 0.11 S8Wa Ag-Pb-Zn
ZK13S8E01 98.95 99.48 241 0.53 0.43 1,782 4.01 0.37 0.06 0.64 S8E Ag-Pb-Zn
ZK13S8E01 108.20 110.42 234 2.22 1.88 127 1.26 0.29 0.03 0.07 S8 Ag-Pb-Zn
ZK13S8E01 129.97 130.63 220 0.66 0.50 102 6.29 0.07 0.03 0.21 S8Wa Ag-Pb-Zn
ZK13S8E03 97.56 98.07 248 0.51 0.42 93 11.01 0.33 0.05 0.06 S8E Ag-Pb-Zn
ZK14S16E206 15.86 16.44 347 0.58 0.48 206 2.17 2.10 0.15 0.04 S16E2 Ag-Pb-Zn
ZK15AS1903 115.14 116.40 599 1.26 1.26 33 0.06 0.03 1.72 0.05 S19E Au-Ag
ZK15AS1903 136.61 138.02 597 1.41 1.12 39 0.61 3.79 2.65 0.21 S19 Au-Ag
ZK15AS1917 79.91 81.50 586 1.59 1.47 605 0.14 1.20 0.18 0.06 S7_2a2 Ag-Pb-Zn
ZK15AS8E03 8.42 8.99 304 0.57 0.37 176 6.49 0.19 0.03 0.05 S8 Ag-Pb-Zn
ZK15AS8E04 61.39 72.36 261 10.97 6.09 311 4.55 0.40 0.03 0.10 S8E Ag-Pb-Zn
ZK15S1906 124.77 126.66 596 1.89 1.66 30 0.21 7.99 0.05 0.03 S19 Ag-Pb-Zn
ZK17AS7_121 102.85 103.75 442 0.90 0.84 100 0.98 5.22 0.05 0.05 S7_2 Ag-Pb-Zn
ZK17AS7_121 115.96 116.40 435 0.44 0.41 1,535 48.20 2.08 0.05 0.03 S7_1 Ag-Pb-Zn
ZK17S8W001 6.42 7.15 308 0.73 0.58 426 26.20 0.52 0.05 0.08 S8Wa Ag-Pb-Zn
ZK19AS7_109 111.46 112.17 430 0.71 0.58 107 1.47 6.78 0.05 0.04 S7_1 Ag-Pb-Zn
ZK19AS7_113 121.54 122.10 471 0.56 0.46 232 14.59 0.16 0.03 0.01 S7_1a Ag-Pb-Zn
ZK19AS7_113 124.62 125.54 471 0.92 0.76 704 3.15 0.12 0.03 0.17 S7_1 Ag-Pb-Zn
ZK19S7_110 106.84 107.56 439 0.72 0.69 155 0.84 1.75 0.02 0.07 S7_1 Ag-Pb-Zn
ZK19S8001 74.72 76.78 595 2.06 0.85 82 4.16 0.42 0.05 0.01 S8 Ag-Pb-Zn
ZK19S8005 75.68 77.90 599 2.22 2.19 107 3.87 0.65 0.03 0.01 S8 Ag-Pb-Zn
ZK2S601 86.31 87.27 336 0.96 0.90 76 1.29 4.55 0.03 0.03 S29 Ag-Pb-Zn
ZK4S7_202 65.57 67.95 474 2.38 1.88 415 1.00 0.66 0.05 0.02 S7_2 Ag-Pb-Zn
ZK4S7_202 150.19 150.75 449 0.56 0.44 304 0.77 0.81 0.05 0.03 S16E Ag-Pb-Zn
ZK4S7_204 51.02 51.78 478 0.76 0.64 462 3.18 3.38 0.12 0.04 S7W Ag-Pb-Zn
ZK4S7_204 74.84 75.43 472 0.59 0.50 244 0.28 0.30 0.08 0.58 S7_2 Ag-Pb-Zn
ZK4S801 130.92 131.96 461 1.04 0.95 1,181 9.41 6.43 0.24 0.66 S8 Ag-Pb-Zn
ZK4S803 142.62 143.73 429 1.11 1.05 127 4.86 4.28 0.03 0.23 S8a Ag-Pb-Zn
ZK50S2914 218.16 219.38 341 1.22 0.88 2,097 1.44 20.61 0.32 0.12 S29 Ag-Pb-Zn
ZK50S2915 229.30 229.82 313 0.52 0.26 484 1.61 1.48 0.05 0.28 S14 Ag-Pb-Zn
ZK58S21W1001 123.59 124.58 317 0.99 0.82 173 6.85 0.53 0.05 0.04 S21W1 Ag-Pb-Zn
ZK60S21001 27.23 28.38 300 1.15 0.59 74 4.71 0.29 0.03 0.01 S16E3 Ag-Pb-Zn
ZK60S21001 94.81 95.33 289 0.52 0.48 71 2.30 1.93 0.45 0.01 S21 Ag-Pb-Zn
ZK60S21W1001 141.17 144.31 294 3.14 2.40 92 0.73 0.50 0.39 0.01 S19 Ag-Pb-Zn
ZK60S21W1002 112.30 113.47 306 1.17 0.83 228 3.09 3.02 0.23 0.14 S21W1 Ag-Pb-Zn
ZK60S7W1001 160.17 164.25 325 4.08 3.59 196 2.83 1.27 0.02 0.08 S7a1 Ag-Pb-Zn
incl 160.17 160.81 325 0.64 0.57 1,118 12.32 5.15 0.02 0.46 S7a1 Ag-Pb-Zn
ZK60S7W1001 171.42 171.99 323 0.57 0.46 153 1.35 0.50 0.03 0.06 S7 Ag-Pb-Zn
ZK62S3101 80.19 81.16 239 0.97 0.89 1,764 36.49 5.72 0.13 0.27 S31 Ag-Pb-Zn
ZK62S3101 93.82 94.34 235 0.52 0.42 1,408 2.89 5.37 1.14 0.06 S14_1 Ag-Pb-Zn
ZK62S3101 128.91 129.69 224 0.78 0.54 320 6.63 5.73 0.70 0.19 S14W Ag-Pb-Zn
ZK62S3102 51.73 52.66 246 0.93 0.64 986 28.33 1.57 0.05 0.13 S14_2 Ag-Pb-Zn
ZK62S3102 70.47 71.57 240 1.10 0.89 127 1.34 5.22 0.09 0.04 S31 Ag-Pb-Zn
ZK62S3102 71.57 72.17 240 0.60 0.49 166 1.69 1.82 0.05 0.03 S14_1 Ag-Pb-Zn
ZK62S3103 60.84 61.73 236 0.89 0.77 186 4.96 3.79 0.07 0.05 S14_2 Ag-Pb-Zn
ZK62S3106 36.83 37.33 248 0.50 0.42 111 1.79 4.25 0.06 0.04 S14_1 Ag-Pb-Zn
ZK64S16W0012 54.85 56.21 292 1.36 1.30 73 0.08 0.06 1.12 0.00 S16W Au-Ag
ZK64S21002 85.37 86.09 285 0.72 0.68 73 0.82 10.97 0.17 0.06 S21 Ag-Pb-Zn
ZK66AS16W002 67.13 68.46 341 1.33 1.30 56 0.34 0.72 4.61 0.04 S16W Au-Ag
ZK66S16W006 59.18 60.05 273 0.87 0.78 99 0.59 0.75 0.64 0.02 S16W Au-Ag
ZK68AS16W002 37.67 43.05 340 5.38 5.36 52 1.08 0.39 3.93 0.01 S16W Au-Ag
ZK68AS16W003 40.61 41.35 325 0.74 0.66 77 2.57 0.52 0.38 0.01 S16W Au-Ag
ZK68S16W01 74.68 79.03 386 4.35 4.11 74 1.04 0.73 0.36 0.08 S16W Au-Ag
ZK68S16W01 174.67 175.86 363 1.19 1.12 104 1.82 0.51 0.07 0.03 S18E2 Ag-Pb-Zn
ZK68S16W03 166.33 166.93 328 0.60 0.52 618 17.21 5.50 0.14 0.14 S18E2 Ag-Pb-Zn
ZK70S16W001 15.50 17.36 349 1.86 0.86 350 4.01 0.84 0.18 0.07 S16E Ag-Pb-Zn
ZK70S16W001 51.12 54.54 340 3.42 1.59 23 0.95 0.34 2.48 0.02 S16W Au-Ag
ZK70S16W001 102.33 103.10 325 0.77 0.72 616 1.39 1.85 0.56 0.05 S18E3 Au-Ag
ZK70S16W002 9.24 10.55 349 1.31 0.69 207 1.54 1.53 0.53 0.06 S16E Au-Ag
ZK70S16W002 52.69 57.08 322 4.39 2.95 24 1.47 0.68 2.16 0.01 S16W Au-Ag
ZK70S16W003 45.19 46.25 338 1.06 0.89 270 0.39 0.38 3.66 0.02 S16W Au-Ag
ZK70S16W003 99.64 100.57 320 0.93 0.88 102 3.68 6.32 0.41 0.03 S18E2 Au-Ag
ZK70S16W02 79.67 81.13 371 1.46 1.17 71 1.80 1.71 0.23 0.03 S16W Au-Ag
ZK72S16W001 90.44 91.25 238 0.81 0.53 13 0.18 0.07 2.62 0.01 S16E2 Au-Ag
ZK72S16W001 211.09 211.91 152 0.82 0.70 60 0.35 1.83 0.77 0.02 S16W Au-Ag
ZK74S16W08 92.90 94.64 246 1.74 1.58 3 0.01 0.01 5.57 0.01 S16E3 Au-Ag
ZK74S16W08 179.44 183.21 192 3.77 3.44 15 0.83 0.74 1.46 0.02 S16W Au-Ag
ZK74S16W09 186.68 188.20 192 1.52 1.39 14 0.25 0.48 1.88 0.01 S16W Au-Ag
ZK74S16W10 175.87 177.22 194 1.35 1.29 44 1.80 3.18 1.38 0.05 S16W Au-Ag
ZK74S16W11 84.38 84.92 252 0.54 0.46 5 1.09 2.26 3.32 0.03 S16E3 Au-Ag
ZK77S32003 133.92 134.69 504 0.77 0.67 146 1.17 1.79 0.03 0.06 S32 Ag-Pb-Zn
ZK77S32005 154.87 158.56 503 3.69 2.01 40 0.22 9.20 0.03 0.20 S32 Ag-Pb-Zn
ZK77S32010 131.96 132.53 555 0.57 0.41 125 0.59 23.89 0.11 0.64 S32 Ag-Pb-Zn
ZK83S320009 240.61 241.24 411 0.63 0.53 151 0.96 0.18 0.04 0.01 S32 Ag-Pb-Zn
ZKDB10S16E201 268.45 269.00 627 0.55 0.44 195 6.19 0.28 0.03 0.01 S16E2 Ag-Pb-Zn
ZKDB16AS2102 151.99 153.11 647 1.12 0.66 217 6.10 1.83 0.05 0.06 S21 Ag-Pb-Zn
ZKDB16AS2102 190.38 190.90 614 0.52 0.35 218 1.02 7.47 0.05 0.09 S21W Ag-Pb-Zn
ZKDB19AS802 106.43 107.16 671 0.73 0.65 94 13.86 1.23 0.03 0.03 S8W Ag-Pb-Zn
ZKDB19AS803 117.42 117.96 670 0.54 0.53 516 19.80 8.27 0.02 0.09 S8 Ag-Pb-Zn
ZKDB19AS804 173.86 175.37 599 1.51 1.24 1 0.01 0.01 3.19 0.01 S8E1 Au-Ag
ZKDB20S8001 83.25 84.78 766 1.53 1.17 169 0.04 0.05 0.03 0.03 S8W1 Ag-Pb-Zn
ZKDB23AS801 219.24 220.32 616 1.08 0.73 165 1.67 0.07 0.03 0.02 S8 Ag-Pb-Zn
ZKDB25S802 171.47 172.35 674 0.88 0.72 274 8.33 0.11 0.03 0.04 S8E Ag-Pb-Zn
ZKDB25S803 194.94 195.77 668 0.83 0.71 25 8.46 0.16 0.03 0.00 S8 Ag-Pb-Zn
ZKDB28AS1101 395.38 396.07 569 0.69 0.68 43 4.92 0.08 2.32 0.08 S11E Au-Ag
ZKDB30AS1101 235.93 236.61 730 0.68 0.49 16 0.25 0.06 2.24 0.02 S11 Au-Ag
ZKDB30AS16W601 60.38 62.40 507 2.02 0.53 38 0.75 4.59 0.39 0.02 S14Ea Ag-Pb-Zn
ZKDB30S1401 145.63 147.12 441 1.49 1.47 47 2.08 5.82 0.05 0.02 S16W Ag-Pb-Zn
ZKDB54S16W001 188.98 192.45 648 3.47 2.54 79 1.33 1.02 0.07 0.01 S16W Au-Ag
ZKDB58S16W001 87.99 89.46 740 1.47 0.73 91 0.67 13.45 0.02 0.04 S16E2 Ag-Pb-Zn
ZKDB58S16W001 208.39 209.24 638 0.85 0.56 44 0.39 6.39 0.03 0.04 S16W Ag-Pb-Zn
ZKDB6AS2101 170.52 171.77 661 1.25 0.51 641 2.06 4.05 0.06 0.10 S21 Ag-Pb-Zn
ZKDB6S701 106.50 110.56 670 4.06 3.13 191 9.78 0.65 0.05 0.04 S7 Ag-Pb-Zn
ZKDB6S701 207.68 208.22 617 0.54 0.42 101 0.16 8.78 0.05 0.04 S7_2a Ag-Pb-Zn
ZKDB6S703 271.84 272.94 622 1.10 0.83 118 4.36 2.54 0.05 0.02 S7 Ag-Pb-Zn
ZKDB8AS16E201 385.89 386.61 581 0.72 0.62 17 4.80 0.84 0.03 0.01 S16W Ag-Pb-Zn
ZKDB8AS21W02 301.27 302.71 636 1.44 1.23 188 11.70 0.53 0.03 0.04 S21 Ag-Pb-Zn
ZKDB8AS21W02 320.77 321.31 624 0.54 0.49 121 2.26 0.20 0.03 0.02 S21W Ag-Pb-Zn
1 New unnamed veins

Tunneling Programs at the SGX Mine                 

A total of 6,207 m of exploration tunnels were developed at the SGX mine during this period. The exploration tunneling, comprised of drifting, cross-cutting and raising, was driven along and across major mineralized vein structures to upgrade the drill-defined mineral resources, and to test for new parallel and splay structures (Tables 2 and 3).

Table 2: Summary of the tunneling programs at the SGX mine

Major Target Veins Elevation(m) Total Tunneling (m) Channel Samples Collected Drift Included Total Mineralization Exposed by Drifts [1]
Length(m) True Width(m) Ag(g/t) Pb(%) Zn(%)
S2W2, S2W2a, S2, S4E, S6, S7, S7_1, S7_2, S7_2a3, S7E3, S7W1, S8, S8E, S8W1, S8W2, S14_1, S14,  S16W1, S16E2,  S18E, S19,  S32, S33, S35, 60 - 640 6,207 2,471 3,535 1,467 0.69 366 5.28 3.02
1 Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 135 g/t at the SGX mine
 (formula used for ageq calculation:AgEq = Ag g/t + 64.72 * Au g/t + 34.26 * Pb% + 19.08 * Zn%).

Table 3: Selected mineralized zones exposed by drift tunneling at the SGX mine

Tunnel ID Vein Elevation(m) Ore Length(m) True Width (m) Ag (g/t) Pb (%) Zn (%)
CM105-S14-287-14QGX S14 287 45 0.48 162 1.64 2.93
PD16-S14-60-4ASYM S14 60 20 0.35 711 11.79 2.97
CM105-S16E-400-12NYM S16E 400 25 0.68 1,208 9.54 1.35
CM102-S16W1-540-53SYM S16W1 540 13 0.35 1,043 13.72 11.32
CM102-S16W1-545-53NYM S16W1 545 60 0.49 210 5.35 6.28
CM105-S18E2-350-14ANYM S18E2 350 15 0.45 394 2.25 5.91
XPD-S19-110-5QGX S19 110 60 0.83 60 4.03 1.69
PD700-S19-590-13AQGX S19 590 20 0.62 429 2.48 8.35
XPD-S19-160-5AQGX S19 160 105 1.43 421 7.78 1.22
CM102-S19-534-4QGX S19 534 35 1.04 157 4.88 5.76
CM101-S19-110-6ASYM S19 110 50 0.84 190 3.81 0.74
XPD-S19-210-11AXB_QGX S19 230 15 0.78 162 3.20 2.13
XPD-S19E-210-15AYMQGX S19 210 20 0.46 284 3.99 6.13
XPD-S19-210-9SMWX S19a1 210 35 0.60 327 4.58 1.97
CM105-S2SJ-S1W2-220-12ANYM S1W2 220 20 0.63 1,143 5.86 11.12
CM105-S2SJ-S1W5-220-12ANYM S1W5 220 10 1.42 351 2.00 7.03
PD16-S2-160-4ANYM S2 160 65 0.85 323 9.65 3.07
CM105-S2SJ-S2-100-12ANYM S2 100 70 0.75 613 6.48 1.74
CM105-S2SJ-S2-300-14ATJQGX S2 310 19 0.62 164 5.60 1.97
PD16-S2-210-4ANYM S2 210 15 0.65 217 4.95 6.60
PD16-S2-210-4ANYM S2 210 15 0.80 644 8.66 3.88
CM105-S2SJ-S2W2-100-12ANYM S2W2 100 35 0.78 153 0.37 3.16
CM105-S2SJ-S2W2-100-12ASYM S2W2 100 55 1.46 488 11.46 0.76
CM102-S32-440-65SYM S32 440 60 0.74 446 7.10 0.83
CM105-S33-400-10NYM S33 400 20 0.36 335 4.24 4.24
CM105-S33-400-10SYM S33 400 40 0.65 342 2.95 4.35
PD16-S6-160-4ANYM S6 160 25 0.49 624 15.00 1.90
PD16-S6-160-4ASYM S6 160 50 0.71 455 5.47 3.52
CM105-S2SJ-S6-220-16NYM S6 220 40 0.75 257 2.09 1.90
PD16-S6-110-4ANYM S6 110 30 1.02 404 12.97 2.31
CM105-S7-210-14SYM-LLD1-STOPE_QGX S7 210 40 1.05 75 3.10 2.47
CM101-S7_1-110-2ASYM S7_1 110 25 0.60 427 6.13 0.41
PD700-S7_2-530-9SYM S7_2 530 45 0.44 61 3.22 4.35
CM105-S7E3-260-6NYM S7E3 260 15 0.87 80 1.51 4.25
PD700-S8-570-19ASMW S8 570 10 0.89 743 8.42 0.21
XPD-S8E-260-15YMQGX S8E 260 75 0.95 657 3.96 0.64

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or shear/alteration contacts, were split into halves by saw cutting. 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 1 mm 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 with two-acids 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 0.2 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 1 mm 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 CRMs, 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 profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development.  For more information, please visit our website at www.silvercorp.ca .


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
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SOURCE Silvercorp Metals Inc

COMTEX_401105240/2454/2022-01-24T06:55:15

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