Silvercorp Metals (TSX:SVM) Reports High-Grade Results from Extensive Drilling Program at HPG Mine in Ying Mining District

Location of the HPG mine within the Ying mining district. Source: Silvercorp Metals Inc

Silvercorp Metals (TSX:SVM) has recently reported the results of its extensive diamond drilling program at the HPG mine, located in China’s Ying Mining District. The company’s operations, conducted from the beginning of 2022 through mid-November 2023, encompassed a comprehensive exploration initiative.

The drilling program extended over a period of almost two years, during which the company drilled a total of 45,046 meters across 297 diamond drill holes. This intensive effort included 215 underground and 82 surface holes. As of now, the assay results for 270 of these holes have been received, with 139 holes encountering mineralized zones. To continue this exploration, eight drilling rigs are currently operational at the HPG mine site.

Silvercorp’s drilling initiative at the HPG mine concentrated on three primary areas. The first area, known as the upper zone (U), involved drilling near the surface for gold, silver, lead, and zinc vein structures within the resource area. This part of the mine had seen limited exploration in the past. The second focus area, termed the production zone (P), comprised infill drilling above or beneath previously mined stopes. The stopes had been abandoned earlier due to unexpected variability in ore grades, vein thicknesses, and orientations. The third area, identified as the breccia zone (B), involved testing the mineralization potential within a rhyolitic breccia dyke located within the existing underground mining infrastructure.

In the upper zone, the drilling targeted the strike and downdip extent of known vein structures, particularly above the 600 meters above mean sea level elevation. The results from this drilling revealed high-grade gold, silver, lead, and zinc vein structures at higher elevations. The significant findings in this zone included intercepts from various series, such as H13, H15, H16, H17, H32, H42, and others.

Location of drill holes and target areas at HPG mine applicable to the reporting period. Source: Silvercorp Metals Inc

The production zone drilling focused on areas previously underexplored due to variability in ore shoot grades and vein trends below the 600-meter elevation. This drilling campaign led to the discovery and expansion of high-grade resources in several vein series, enhancing the understanding of the mine’s potential.

The breccia zone drilling aimed to assess the extent of mineralization within a rhyolitic breccia dyke, specifically in the B8 area. This zone, characterized by disseminated gold, silver, lead, zinc, and copper mineralization, measured approximately 50 meters in length, 30 meters in height, and 20 meters in width. The B8 orebody, discovered during this exploration phase, has been mined since October 2023 using long-hole stoping techniques.

Furthermore, additional drilling was conducted to explore the down-dip extension of major vein structures, including the H15, H16, and H17 series, below the 300-meter elevation in the Deep Zone (zone D). This exploration confirmed the continuation of mineralization along these structures, expanding the potential for further resource development.

Silvercorp Metals’ extensive and methodical exploration program at the HPG mine reflects a significant commitment to understanding and developing the mine’s resources. The results from this program are likely to influence the company’s future mining strategies and operational decisions in the Ying Mining District.

Highlights from the results are as follows:

Surface hole ZK1645 intersected an 8.24 metre (“m”) interval of vein H4 grading 4.31 grams per tonne (“g/t”) gold (“Au”), 15 g/t silver (“Ag”), and 2.10% lead (“Pb”), from 56.28 m depth, at an elevation of 819 m;
Underground hole ZK02N36 intersected a 0.61 m interval of vein H5E grading 3.86 g/t Au, 6,132 g/t Ag, 6.45% Pb, 8.47% zinc (“Zn”), and 0.33% copper (“Cu”) from 72.36 m depth, at an elevation of 331 m;
Surface hole ZK3421 intersected a 0.63 m interval of vein H17_1 grading 23.80 g/t Au and 14 g/t Ag, from 71.95 m depth, at an elevation of 761 m;
Underground hole ZKH12N21 intersected a 4.60 m interval of vein H17 grading 1.23 g/t Au, 193 g/t Ag, 7.56% Pb, 3.79% Zn, and 0.38% Cu from 68.67 m depth, at an elevation of 329 m;
Underground hole ZK21N11 intersected a 2.05 m interval of vein H16_3 grading 3.75 g/t Au, 128 g/t Ag, 2.26% Pb, and 1.05% Zn, from 148.72 m depth, at an elevation of 381 m;
Underground hole ZKH21N20 intersected a 2.69 m interval of vein H16_3 grading 2.72 g/t Au, 269 g/t Ag, 1.02% Pb, 0.69% Zn, and 0.80% Cu from 147.79 m depth, at an elevation of 338 m;
Underground hole ZKH27N03 intersected a 1.70 m interval of vein H14a grading 10.49 g/t Au, 18 g/t Ag, 1.02% Pb, and 0.75% Zn, from 181.11 m depth, at an elevation of 440 m;
Underground hole ZKH21N22 intersected a 0.95 m interval of vein H16_3 grading 6.62 g/t Au, 507 g/t Ag, 1.77% Pb, 1.35% Zn, and 0.97% Cu from 151.45 m depth, at an elevation of 350 m;
Underground hole ZK19N15 intersected a 0.45 m interval of vein H10_1 grading 25.80 g/t Au and 216 g/t Ag, from 148.64 m depth, at an elevation of 599 m;
Underground hole ZK04N14 intersected a 1.01 m interval of vein H13 grading 0.62 g/t Au, 930 g/t Ag, 25.93% Pb, 0.30% Zn, and 1.24% Cu from 63.67 m depth, at an elevation of 683 m;

Table 1: Selected intercepts from the drilling programs at the U zone of the HPG mine

Hole ID	From (m)	To (m)	Elevation (m)	interval (m)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)	Cu (%)	Vein
ZK02N05	53.62	54.45	661	0.83	0.19	227	21.15	0.14	0.19	H32
ZK04N10	56.67	57.10	687	0.43	0.05	114	9.94	0.08	0.19	H32
ZK04N14	63.67	64.68	683	1.01	0.62	930	25.93	0.30	1.24	H13
ZK04N15	58.89	59.52	666	0.63	0.21	88	7.09	0.12	0.13	H32
ZK04W02	59.54	60.08	729	0.54	0.94	178	15.28	0.02	0.03	H15
ZK06N13	67.49	69.55	682	2.06	0.31	184	10.59	0.09	0.25	H13
ZK06S03	124.59	125.82	717	1.23	0.20	57	8.92	0.05	0.06	H13
ZK06S04	128.02	129.58	724	1.56	0.10	69	1.84	0.57	0.03	H15_2
ZK08N13	84.64	86.04	680	1.40	0.37	441	11.75	0.42	0.25	H13
ZK08N14	101.76	102.11	678	0.35	0.72	261	0.93	0.49	0.20	H13
ZK08S01	90.55	91.36	760	0.81	0.37	72	17.30	0.08	0.11	H13
ZK08S05	87.75	89.40	774	1.65	0.15	17	4.01	0.03	0.01	H15_2
ZK11004	105.13	105.60	605	0.47	0.04	592	0.94	0.37	0.01	H41W_1
ZK11205	103.81	105.45	614	1.64	3.31	1	0.01	0.01	0.01	H42a
ZK14N23	80.61	81.11	705	0.50	0.97	110	13.55	0.53	0.80	H15W
ZK14N25	89.92	90.75	676	0.83	0.81	41	4.37	0.02	0.04	H15W
ZK14S22	36.91	37.94	731	1.03	0.07	42	3.40	0.11	0.01	H15
ZK1644	190.15	190.73	689	0.58	4.71	152	15.71	1.73	0.54	H32a
ZK1645	56.28	64.52	819	8.24	4.31	15	2.10	0.01	0.02	H4
ZK1645	210.11	210.59	671	0.48	0.61	27	9.36	0.04	0.01	H32a
ZK1646	66.45	67.61	809	1.16	2.48	13	2.48	0.02	0.01	H4
ZK1646	204.79	206.45	675	1.66	0.05	23	5.14	3.02	0.05	H4a
ZK1646	218.66	219.85	662	1.19	0.39	32	4.71	0.12	0.06	H32a
ZK1647	222.14	224.11	663	1.97	1.72	103	3.72	0.67	0.55	H32a
ZK17N05	100.28	100.75	625	0.47	0.16	78	4.91	0.28	0.01	H9
ZK21N41	47.21	47.76	600	0.55	1.74	76	5.97	1.73	0.01	H39_2
ZK2346	113.21	114.22	716	1.01	2.59	8	0.20	0.53	0.01	H42
ZK2346	123.36	123.91	710	0.55	5.21	8	1.70	1.49	0.03	H15
ZK2347	106.66	107.46	740	0.80	1.48	19	1.61	0.48	0.02	H16_3
ZK2348	56.19	56.85	776	0.66	2.13	8	0.41	0.97	0.02	H14
ZK2348	64.67	66.39	771	1.72	3.16	4	0.12	0.43	0.01	H14a
ZK2348	132.58	133.26	733	0.68	2.00	4	0.19	0.20	0.01	H15
ZK23S03	107.58	108.43	790	0.85	0.68	132	0.78	0.60	0.07	H16
ZK2412	172.03	173.06	720	1.03	1.98	6	0.01	0.02	0.01	H17
ZK24S01	199.44	200.03	721	0.59	0.34	95	14.67	0.88	0.01	H32a
ZK29S02	211.70	212.20	684	0.50	0.16	89	17.02	4.86	0.04	H29
ZK3421	71.95	72.58	761	0.63	23.80	14	0.03	0.03	0.01	H17_1
ZK3638	37.58	37.96	804	0.38	1.10	197	0.19	0.08	0.03	H17_1
ZKH00N42	48.80	50.96	635	2.16	0.68	140	1.08	0.14	0.05	H5
ZKH04S01	50.64	51.27	656	0.63	0.15	659	0.31	2.29	0.14	H17
ZKH06N01	64.39	64.71	618	0.32	0.16	309	0.60	0.10	0.49	H32E1
ZKH06N02	50.40	51.01	615	0.61	5.10	28	0.48	0.12	0.01	H32E1
ZKH06S01	99.64	101.43	606	1.79	1.03	76	2.14	0.09	0.69	H15
ZKH06S01	102.56	109.99	605	7.43	0.61	89	7.08	0.19	0.36	H17
ZKH06S09	17.36	18.28	633	0.92	0.16	115	0.53	1.91	0.03	H13
ZKH12S52	45.57	47.28	718	1.71	0.11	33	3.33	0.04	0.08	H15
ZKH12S52	163.31	164.40	670	1.09	0.29	133	2.02	1.40	0.06	H18
ZKH130C01	92.85	93.96	712	1.11	4.04	3	0.02	0.01	0.01	H15
ZKH14S31	38.31	39.37	730	1.06	0.05	45	3.75	0.04	0.05	H15
ZKH14S31	153.43	154.53	712	1.10	2.56	41	1.32	0.82	0.02	H18
ZKH16S51	85.99	87.16	676	1.17	0.16	177	0.34	0.01	0.86	H15E
ZKH16S51	168.41	169.33	619	0.92	0.45	128	3.23	1.25	0.04	H18
ZKH16S52	35.85	40.22	733	4.37	0.08	28	4.13	0.03	0.03	H15
ZKH16S52	171.30	172.25	719	0.95	0.12	211	1.21	0.63	0.06	H18
ZKH18N01	147.22	147.86	756	0.64	0.04	10	4.44	0.99	0.01	H6
ZKH24S05	157.87	159.05	741	1.18	0.17	22	5.65	0.81	0.03	H32a
ZKH33N10	28.61	29.06	627	0.45	5.42	4	0.08	0.16	0.01	H12E1

Table 2: Selected intercepts from the drilling programs at the P zone of the HPG mine

Hole ID	From (m)	To (m)	Elevation (m)	interval (m)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)	Cu (%)	Vein
ZK02N36	72.36	72.97	331	0.61	3.86	6,132	6.45	8.47	0.33	H5E
ZK04N06	124.59	125.01	515	0.42	0.04	27	8.36	0.65	0.03	H5
ZK04N07	165.80	166.26	467	0.46	0.47	416	40.18	0.35	0.13	H5E
ZK04N08	95.05	95.63	582	0.58	0.89	91	1.01	0.09	0.10	H5a
ZK04N09	100.28	101.00	581	0.72	0.07	284	0.09	0.02	0.03	H5a
ZK04N09	102.91	104.23	580	1.32	0.61	66	13.01	0.12	0.18	H5
ZK04N19	15.15	15.48	375	0.33	5.52	23	0.42	0.98	0.01	H5E
ZK05N11	118.87	119.53	371	0.66	2.86	15	0.05	0.03	0.01	H5
ZK07N21	101.34	103.31	332	1.97	0.26	123	3.50	3.42	0.08	H5
ZK07N22	56.03	57.57	346	1.54	2.00	14	0.03	0.01	0.01	H5E
ZK09N23	82.17	82.52	332	0.35	21.00	120	2.85	15.03	0.09	H5
ZK09N31	2.81	3.54	462	0.73	0.21	106	0.10	0.03	1.07	H5E
ZK09N31	80.42	81.30	415	0.88	0.34	300	1.24	0.92	0.06	H5
ZK11007	240.47	241.68	497	1.21	2.39	2	0.08	0.07	0.01	H12_1
ZK11008	225.13	225.59	518	0.46	7.44	17	0.39	0.50	0.04	H12_1
ZK11204	205.86	206.86	555	1.00	2.92	5	0.14	0.04	0.01	H20W
ZK11209	202.55	203.11	527	0.56	2.71	8	0.76	0.75	0.03	H20W1
ZK11211	82.05	82.40	591	0.35	4.42	26	1.79	0.05	0.01	H41W
ZK11614	44.23	44.80	446	0.57	11.90	45	3.39	0.49	0.19	H20W1
ZK11614	46.12	46.95	445	0.83	3.26	84	0.94	0.49	0.10	H20W
ZK14N18	13.94	14.58	380	0.64	1.55	58	2.54	9.79	0.21	H32E1
ZK14N19	28.10	28.52	377	0.42	7.00	10	0.31	0.25	0.01	H32E1
ZK19N15	148.64	149.09	599	0.45	25.80	216	0.04	0.01	0.01	H10_1
ZK19N20	8.53	9.40	462	0.87	0.97	108	16.84	0.33	0.26	H11
ZK19N20	208.43	208.94	369	0.51	3.25	5	0.40	0.14	0.01	H42
ZK21N11	148.72	150.77	381	2.05	3.75	128	2.26	1.05	0.20	H16_3
ZK21N37	131.58	132.30	435	0.72	7.51	15	0.10	0.18	0.01	H16_1
ZK21N39	126.31	128.05	432	1.74	2.10	56	2.71	1.25	0.08	H16_1
ZK21N41	114.86	117.14	559	2.28	0.25	49	5.17	0.06	0.01	H12_1
ZK21N42	55.06	55.50	589	0.44	1.01	164	2.23	0.85	0.01	H39_2
ZK21N42	131.24	131.92	533	0.68	1.35	94	0.65	0.26	0.01	H12_1
ZK22N01	99.79	100.94	588	1.15	4.59	23	0.94	0.07	0.11	H15
ZK23N05	141.55	142.62	381	1.07	1.63	16	1.13	0.62	0.01	H16_1
ZK23N32	54.49	54.93	429	0.44	3.36	43	0.15	0.10	0.35	H17_1W
ZK23N34	5.54	6.15	466	0.61	1.75	27	0.31	0.82	0.06	H11
ZK23N34	121.72	122.34	439	0.62	2.43	11	0.48	0.23	0.04	H16_1
ZK23N35	5.59	6.59	465	1.00	1.43	28	1.88	0.24	0.09	H11
ZK23N35	181.11	181.60	405	0.49	0.09	52	10.80	0.04	0.13	H17_1
ZK25N04	55.72	56.13	435	0.41	4.48	77	0.34	0.56	0.01	H13
ZK25N05	83.43	84.69	515	1.26	1.73	9	0.35	0.33	0.03	H16_1
ZK25N08	94.53	95.59	417	1.06	2.05	3	0.03	0.04	0.01	H16
ZK27N04	161.78	162.48	484	0.70	1.98	9	0.24	0.15	0.02	H16_1
ZK27N07	105.32	106.13	552	0.81	2.00	13	0.20	0.08	0.03	H16
ZK27N07	137.48	138.13	534	0.65	2.21	15	0.40	0.36	0.06	H40
ZK27N08	143.28	143.82	480	0.54	2.96	7	0.14	0.06	0.01	H16
ZK29N10	136.81	139.45	530	2.64	2.09	4	0.39	0.21	0.01	H16_1a
ZKH02N37	127.89	128.54	324	0.65	8.78	35	1.12	0.16	0.06	H5_2
ZKH02N38	116.61	117.60	328	0.99	9.21	8	0.08	0.14	0.09	H5_2W
ZKH02N38	141.53	142.38	324	0.85	0.34	73	1.56	0.42	0.07	H5_2
ZKH02N38	172.02	172.65	320	0.63	0.13	67	2.49	6.17	0.04	H5E
ZKH08N03	132.56	133.27	591	0.71	0.40	382	6.23	1.38	0.51	H15_2
ZKH12N21	67.10	67.77	330	0.67	1.17	172	3.23	12.97	0.22	H17_1
ZKH12N21	68.67	73.27	329	4.60	1.23	193	7.56	3.79	0.38	H17
ZKH12N22	28.43	28.88	361	0.45	0.28	76	4.92	0.13	0.01	H15
ZKH12N22	67.78	69.48	331	1.70	0.23	61	2.04	6.67	0.21	H17_1
ZKH12N22	71.25	73.94	328	2.69	0.53	86	4.33	2.61	0.18	H17
ZKH19N25	13.44	14.21	571	0.77	0.14	190	0.28	0.17	0.28	H39_1E
ZKH21N20	64.38	65.22	361	0.84	0.29	54	1.44	1.70	0.01	H13
ZKH21N20	68.18	69.13	360	0.95	0.68	382	0.54	0.57	0.02	H13a
ZKH21N20	141.43	142.15	339	0.72	1.62	13	1.30	1.00	0.03	H16_1
ZKH21N20	147.79	150.48	338	2.69	2.72	269	1.02	0.69	0.80	H16_3
ZKH21N20	160.42	161.02	334	0.60	5.66	7	0.24	0.08	0.02	H15Wa
ZKH21N20	168.74	169.82	332	1.08	0.41	21	5.00	0.11	0.05	H15
ZKH21N20	188.06	188.68	326	0.62	1.87	45	0.75	0.13	0.52	H17_1
ZKH21N22	51.71	52.66	369	0.95	2.53	3	0.03	0.05	0.01	H11Ea
ZKH21N22	68.83	69.73	366	0.90	0.99	84	0.28	0.61	0.01	H13
ZKH21N22	142.40	143.19	351	0.79	0.71	22	1.83	1.95	0.15	H16_1
ZKH21N22	151.45	152.40	350	0.95	6.62	507	1.77	1.35	0.97	H16_3
ZKH21N22	165.32	166.62	347	1.30	1.71	11	0.42	0.07	0.03	H15
ZKH27N02	16.60	18.68	535	2.08	2.10	74	0.31	0.12	0.28	H20W
ZKH27N03	15.14	15.86	531	0.72	5.97	15	0.43	0.37	0.04	H20W
ZKH27N03	120.16	122.82	473	2.66	1.27	23	1.27	0.10	0.02	H40
ZKH27N03	181.11	182.81	440	1.70	10.49	18	1.02	0.75	0.03	H14a
ZKH27N04	94.47	95.70	510	1.23	1.43	32	1.10	0.69	0.01	H16_1
ZKH27N05	14.12	14.95	531	0.83	3.30	9	0.24	0.11	0.09	H20W
ZKH27N06	24.51	25.40	535	0.89	4.05	197	0.69	0.15	0.99	H17_1
ZKH27N06	26.90	28.91	535	2.01	0.14	240	0.68	1.37	0.41	H20W
ZKH27N06	114.53	115.25	522	0.72	1.65	293	2.09	0.47	0.54	H16
ZKH27N07	34.66	35.48	515	0.82	1.34	45	0.26	0.05	0.07	H20W
ZKH29N16	93.05	93.84	581	0.79	1.20	33	6.92	0.77	0.04	H41W
ZKH33N11	94.57	95.44	588	0.87	0.05	25	6.99	0.55	0.01	H12E
ZKH36N06	132.35	133.48	368	1.13	0.11	37	2.41	4.59	0.03	H15_1
ZKH36N07	135.56	136.22	354	0.66	0.18	61	7.00	3.04	0.03	H15_1
ZKH38N01	127.63	128.77	373	1.14	0.51	32	2.36	2.85	0.04	H17

Table 3: Selected intercepts from the drilling programs at the B zone of the HPG mine

Hole ID	From (m)	To (m)	Elevation (m)	interval (m)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)	Cu (%)	Vein
ZK09N23	61.99	63.77	345	1.78	1.56	63	0.21	0.05	0.11	B
ZK09N31	18.91	19.47	452	0.56	3.04	120	0.12	0.02	0.35	B
ZK1323	20.66	21.40	727	0.74	0.01	22	1.41	3.05	0.03	B07
ZK15N26	75.65	77.12	576	1.47	0.85	135	0.72	1.50	0.15	B08
ZK15N27	91.75	92.82	555	1.07	0.62	288	1.81	0.11	0.29	B08
ZK15N30	67.58	71.80	571	4.22	0.45	144	0.99	0.61	0.07	B08
ZK15N32	73.19	74.77	568	1.58	1.71	93	0.22	0.08	0.02	B08
ZKH07N12	48.07	48.81	346	0.74	1.88	17	0.03	0.02	0.01	B02

Table 4: Selected intercepts from the drilling programs at the D zone of the HPG mine

Hole ID	From (m)	To (m)	Elevation (m)	interval (m)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)	Cu (%)	Vein
ZK03N35	174.26	174.81	267	0.55	15.55	52	1.67	2.46	0.01	H5
ZK03N37	143.41	144.00	295	0.59	0.83	236	12.14	7.04	0.01	H5
ZK40N02	233.57	233.92	179	0.35	0.72	185	6.51	0.01	0.01	H17
ZKH00N39	255.51	256.21	119	0.70	0.18	22	1.85	5.23	0.08	H5E
ZKH06N34	106.37	107.11	-11	0.74	2.60	76	6.06	4.68	0.23	H15_1
ZKH06N34	159.08	159.74	-42	0.66	0.50	82	3.00	1.56	0.11	H17
ZKH4204	192.72	193.25	194	0.53	4.00	434	11.02	0.06	3.02	H15_1
ZKH4204	226.08	226.57	176	0.49	0.78	118	25.65	25.81	0.11	H15

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.


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