Silvercorp Metals Inc (TSX:SVM, AMEX:SVM) said it had received high-grade intercepts from its exploration programs at the GC silver-lead-zinc mine, Guangdong Province, China.
The results released by the diversified miner are devised from a drill program that commenced on the property October 1, 2019 and ran through to June 30, 2021. A total of 72,878 meters (m) from 704 underground diamond drill holes were completed.
Of the 704 drill holes, 577 intercepted mineralization.
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The almost two-year-long drill program was initiated to target blocks of known silver-lead-zinc veins in and above the production area with additional exploration drilling at higher elevations in the north and south sides of the resource areas.
According to the company: “Detailed drilling of blocks of known silver-lead-zinc veins in and above the GC mine production areas intersected high-grade veins. These mineralized occurrences were previously missed due to limited drilling and tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins.”
The high-grade intercepts from this period were discovered at more than two dozen veins associated with parallel silver-lead-zinc. There were also 24 new vein structures discovered in and above the production areas.
“The company is currently working on a technical report on the GC mine to update the resources and reserves as of December 31, 2020. It is expected that mineralization in these structures can be converted quickly into reserves and mined with existing underground workings,” notes the statement.
Highlights from the high-grade intercepts at the GC mine production area include Hole 20CK24A02, which intersected a 6.13m interval (6.01m true width) of vein V2E1 grading 258 grams per tonne (g/t) silver, 7.05% lead and 7.05% zinc at the -211m elevation, which includes a 1.10m interval (1.08m true width) grading 462 g/t silver, 25.57% lead, and 5.21% zinc at the -211m elevation.
Silvercorp also reported the discovery of high-grade veins at higher elevations to the north and south of the existing resource zone.
“These discoveries confirm the potential to expand the resource area outwards and extend the mine life at the GC mine,” said the company.
In addition to the drilling program, 16,070m of exploration drift tunneling were developed at the GC mine during this period. Extensive drilling and tunneling are ongoing at the polymetallic deposit with seven rigs currently drilling.
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