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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