Silvercorp Metals Inc (TSX:SVM, AMEX:SVM), the China-focused metals miner, has reported more results from extensive drilling and tunneling program at its flagship Ying project in Henan Province, this time from the HPG mine.
HPG is one of six mines that make up the Ying project and the company said high-grades were uncovered in the diamond drill program, which ran from June 1 to December 31 last year and saw 153 holes sunk, including 89 underground holes and 64 at surface.
Highlights of the high-grade underground gold-silver-lead-zinc intercepts near-surface or previously mined stopes included an interval of 1.91 metres (m) at the vein H16, which graded 24.66 grams per ton (g/t) gold, 56 g/t silver, 3.28% lead, 2.12% zinc, and 0.11% copper (Cu) starting from a depth of 29.11m.
Highlights of high grades from holes drilled from the surface included one which hit a 2.20m interval of the vein H17 grading 22.99 g/t gold, 35 g/t silver, 0.49% lead, 0.07% zinc, and 0.02% copper from a depth of 78.57m.
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Silvercorp also noted that surface and underground diamond drilling at the southwest side of the resource area intersected high-grade gold-silver-lead-zinc veins of the H20W, H12_1, H39, H41, and H40 series.
Among the high-grade intercepts were a 1.33m at vein H41W grading 2.86 g/t gold, 1,469 g/t silver, 3.69% lead, 2.33% zinc, and 0.13% copper from 66.90m depth in one hole.
The company also tested for a rhyolitic breccia dyke, which is mainly exposed in the middle of the mining area. Drill highlights here included an 18.41 m interval grading 1.42 g/t gold, 122 g/t silver, 0.97% lead, 0.56% zinc, and 0.14% copper in the breccia in one hole.
At HPG, a total of 1,436m of exploration tunnels were developed, Silvercorp added, which was driven along and across major mineralized vein structures.
A cross-cut tunnel confirmed broad mineralization in the breccia dyke, hitting a 20.7m interval at a grade of 1.06 g/t gold, 122 g/t silver, 1.33% lead, 1.48% zinc and 0.14% copper, noted the company.
Silvercorp is a profitable Canada-based miner producing silver, lead, and zinc metals in concentrates from mines in China.
Contact the author at giles@proactiveinvestors.com