Silvercorp Metals Inc.: Silver Grade of 28,148 Grams Per Tonne and Lead Grade of 58.56% Over 0.25 Metre Interval Intercepted at the Ying Silver Project, Henan Province, China
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 19, 2005) - Silvercorp Metals Inc. ("Silvercorp") (TSX VENTURE:SVM) is pleased to provide a progress report on its high grade Ying silver project in Henan, China. During the months of July and August 2005, a total of 5,061 meters (m) of drifting, raises, and declines and 1,506m of underground drilling was completed, bringing the total completed in the last year to 17,005m of tunnels and 5,020m of underground drilling.
The tunneling work on S2, S6, S14, S16W and S16E veins is mainly designed to upgrade existing resources to the mineral reserve category and to prepare for mining through the 518m and 480m level tunnels for the S2, S6, S14 Veins and through the 570m and 534m level tunnels for the S16E and S16W Veins. The table below lists the new tunnel results for S14, S16E and S16W veins. Results from ongoing drifting of other veins at the SGX and other areas, and the underground drilling program will be reported as soon as they become available. The most significant intervals are as follows:
- 0.25m grading 28,148 grams per tonne (g/t) or 905 ounces per tonne (oz/t) or 2.81% silver, 58.56% lead and 1.92% zinc from a mining raise developed from the 518m level on the S14 Vein;
- 0.40m grading 3,886 g/t or 124.92 oz/t silver, 4.22% lead and 10.78% zinc from a drift along S16E vein on the 570m level
- 1.7m grading 1,651 g/t or 53.07 oz/t silver, 8.55% lead and 9.62% zinc from a drift along S16W vein on the 534m level.
Accessed through main tunnels CM102 and CM103, the tunneling program on the S14 vein during this period included 277.6m of drifting on the 480m level and 194m of undercut and 53m of raises developed for mining above the 518m level.