Underground diamond drilling in 2013 at Silvercorp Metals’ LM and LMW mines in Ying Mining District of Henan province has significantly extended existing high grade mineralization zones, both down dip and along strike, and delineated new mineralization zones in known major vein structures.
At LM drilling highlights are: 4.87 metres from 136.57 metres at the 493 metre elevation @ 759 grams/tonne silver, 7.24% lead and 0.93% zinc, including 0.91 metres @ 2784 grams/tonne silver, 32.45% lead and 4.14% zinc; 5.06 metres from 171.34 metres at the 761 metre elevation @ 440 grams/tonne silver, 0.54% lead and 0.27% zinc, including 2 metres @ 1064 grams/tonne silver, 1.29% lead and 0.63% zinc; 4.44 metres from 89.51 metres at the 578 metre elevation @ 364 grams/tonne silver, 0.66% lead and 0.38% zinc, including 1.55 metres @ 931 grams/tonne silver, 1.51% lead and 0.83% zinc; and 9.10 metres from 117.66 metres at the 633 metre elevation @ 282 grams/tonne silver, 1.45% lead and 0,.33% zinc, including 1.90 metres @ 851 grams/tonne silver, 4.63% lead and 0.92% zinc.
At LMW highlights are: 1.06 metres from 170.79 metres at the 881 metre elevation @ 2404 grams/tonne silver, 1.94% lead and 2.2% zinc; 4.16 metres from 342.33 metres at the 532 metre elevation @ 525 grams/tonne silver, 8.51% lead and 0.36% zinc, including 2.08 metres @ 1036 grams/tonne silver, 16.17% lead and 0.63% zinc; and 6.61 metres from 293.68 metres at the 706 metre elevation @ 585 grams/tonne silver, 2.49% lead and 0.32% zinc, including 1.55 metres @ 1129 grams/tonne silver, 3.66% lead and 0.80% zinc.
The LM and LMW (LM west) mines are two of the six silver-lead zinc mines that Silvercorp operates within its Ying camp. LMW is adjacent to the west of the LM mine.
The 2013 drill program was successful in expanding the indicated and measured resources and in delineating new resources at, or above, the current mining elevations close to the available mining facilities within the major production veins. A total of 56,151 metres were drilled in 238 holes, including 17,629 metres in 82 holes at LM and 38,522 metres in 156 holes at LMW.
In the planned 2014 diamond drilling program for LM and LMW, Silvercorp will continue with infill and step-out drilling on known mineralized zones to expand and upgrade the current resources and conduct test drilling on unexplored sections to delineate new resources within the major vein structures. In response to the current depressed metal price environment the 2014 underground drilling program will be reduced to 13,910 metres using four underground rigs as a means to reduce exploration expenses.
Drilling in 2013 at the HPG and TLP mines, also in the Ying district, has also further extended the down-dip potential of the major mineralized veins at both mines and this mineralization remains open to depth.