SILVERCORP INTERCEPTS NEW HIGH-GRADE STRUCTURES AT LMW MINE, YING MINING DISTRCT, CHINA, INCLUDING VEIN LM26: 5.39 METRES TRUE WIDTH GRADING 2,896 GRAMS PER TONNE SILVER AND 2.58% COPPER

Silvercorp Metals Inc. Logo (CNW Group/Silvercorp Metals Inc) (CNW Group/Silvercorp Metals Inc)

VANCOUVER, BC, Oct. 6, 2022 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report assay results from its ongoing drilling program at the LMW mine within the Ying Mining District in China.  From October 1, 2021 to September 30, 2022, a total of 56,803 metres ("m") in 416 diamond drill holes, including 372 underground holes and 44 surface holes, were completed at the LMW mine. Assay results for 378 holes have been received and selected results are presented in Table 1 below.  Currently, two surface and eight underground rigs are drilling at the LMW mine.

The assay results released here have not been included in the most recent "MINERAL RESERVES AND RESOURCES" update with a cut-off date of December 31, 2021 (see news release dated September 21, 2022).

1)  New Discovery of High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins, including W1, W2, W2W, W6, W6E, W6W, and W18.  Among these, veins W2, W1 and W18 may have lengths of over 800 m along strike and 400 m down-dip from 1100 m to 700 m elevation.  To pursue this new discovery, the Company has started to develop two new horizontal tunnels from surface at 1040 m and 988 m elevations, and a new branch off-ramp from 800 m to 700 m elevations to access these veins.

Highlights of these new discovery holes are as follows:

• Hole ZKX0818 intersected a 3.18 m interval (2.82 m true width) of vein W2 grading 2,238 grams per tonne ("g/t") silver ("Ag"), 5.90% lead ("Pb"), 0.61% zinc ("Zn"), and 0.36% copper ("Cu") at the 1,045 m elevation;
  
  

• Hole ZKX0634 intersected a 4.03 m interval (3.43 m true width) of vein W6W grading 970 g/t Ag, 16.20% Pb, 0.60% Zn, and 0.29% Cu, at the 1,031 m elevation
  
  

• Hole ZKX0636 intersected a 1.18 m interval (0.91 m true width) of vein W1 grading 2,511 g/t Ag, 3.45% Pb, 1.01% Zn, and 0.38% Cu, at the 963 m elevation; and
  
  

• Hole ZKX14214 intersected a 6.58 m interval (1.19 m true width) of vein W18 grading 646 g/t Ag, 3.12% Pb, 0.3% Zn, and 0.16% Cu, at the1039 m elevation.

2)  Drilling of Low Angle Gold-Copper-Silver Veins Further Improved Continuity of Mineralization

Drilling of the low angle copper-gold-silver veins of LM21, LM22, LM26 and LM50 was designed to better understand this new type of mineralization which is strongly altered by silicification, with less obvious contact with host rocks of Archean granitic gneisses.  The lower angle copper-gold structures were also offset slightly by sub-vertical north-west and north-east trending silver-lead veins which have been the focus of mining production at LMW.  With the drilling program designed to expand gold-copper structures, and with better understanding, the Company is learning how to mine these low angle gold-copper bodies.

Highlights of the intercepts from the low angle gold veins at the LMW mine:

• Hole ZKX03X021 intersected a 7.03 m interval (5.39 m true width) of vein LM26 grading 0.17 g/t gold ("Au"), 2,896 g/t Ag, and 2.58% Cu, at the 602 m elevation;
  
  

• Hole ZKX11238 intersected a 9.54 m interval (3.37 m true width) of vein LM26 grading 0.98 g/t Au, 1,323 g/t Ag, 7.45% Pb, 0.55% Zn, and 0.32% Cu, at the 670 m elevation;
  
  

• Hole ZKX11223 intersected a 6.57 m interval (3.2 m true width) of vein LM26 grading 1.23 g/t Au, 1,780 g/t Ag, 16.71% Pb, 0.69% Zn, and 0.23% Cu, at the 670 m elevation;
  
  

• Hole ZKX07X031 intersected an 8.10 m interval (4.06 m true width) of vein LM50 grading 1.26 g/t Au, 674 g/t Ag, 1.28% Pb, 0.21% Zn, and 0.09% Cu at the 799 m elevation;
  
  

• Hole ZKX07X021 intersected an 1.01 m interval (0.65 m true width) of vein LM50 grading 19.2 g/t Au and 15 g/t Ag at the 791 m elevation;
  
  

• Hole ZKX05X079 intersected a 4.21 m interval (3.42 m true width) of vein LM50 grading 6.36 g/t Au and 11 g/t Ag at the 794 m elevation;
  
  

• Hole ZKX05X098 intersected a 0.77 m interval (0.70 m true width) of vein LM22 grading 29.00 g/t Au, 10 g/t Ag, and 1.21% Cu at the 850 m elevation; and
  
  

• Hole ZKX05X096 intersected a 0.51 m interval (0.38 m true width) of vein LM22 grading 32.50 g/t Au, 2 g/t Ag, and 0.05% Cu, at the 848 m elevation.

3)  Drilling Above or Beneath Previously Mined Stopes

Most holes in this period targeted blocks of known silver-lead-zinc veins in the production areas that were previously missed due to limited drilling or tunneling, changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins. The high-grade intercepts are mainly associated with the southwest-striking LM7 series, LM12 series and LM17 series of veins, and the northwest-striking LM8 series, LM19 and LM20E.

Highlights of the high-grade silver-lead-zinc mineralization in the production areas:

• Hole ZKX07X003 intersected a 13.31 m interval (12.80 m true width) of vein LM7 grading 365 g/t Ag, 0.71% Pb, 0.13% Zn, 0.06 g/t Au, and 0.33% Cu at the 778 m elevation;
  
  

• Hole ZKX0733 intersected a 1.46 m interval (1.37 m true width) of vein LM12E grading 4,549 g/t Ag, 1.19% Pb, 0.24% zinc ("Zn"), 0.49 g/t Au, and 0.10% copper ("Cu") at the 645 m elevation;
  
  

• Hole ZKX0058 intersected a 3.40 m interval (3.39 m true width) of vein LM7W grading 1,181 g/t Ag, 2.49% Pb, 0.24% Zn, 0.12 g/t Au, and 0.21% Cu at the 771 m elevation;
  
  

• Hole ZKX05X075 intersected a 4.16 m interval (3.72 m true width) of vein LM7 grading 360 g/t Ag, 1.75% Pb, 0.59% Zn, 9.15 g/t Au, and 0.24% Cu at the 764 m elevation; and
  
  

• Hole ZKX09X001 intersected a 5.78 m interval (5.53 m true width) of vein LM7W grading 531 g/t Ag, 1.06% Pb, 0.37% Zn, 0.02 g/t Au, and 0.19% Cu at the 575 m elevation.

4)  Drilling Intersected High-Grade Silver-Lead-Zinc Veins and a New Gold Structure at the East Side of the Resource Area

At the east side of the resource area, drilling intersected high-grade silver-lead-zinc vein LM41E and the parallel silver-lead-zinc veins LM41E1 and LM41E1Wa with true widths up to 2.40 m.

While drilling these LM41 series high grade silver-lead-zinc veins, a new gently dipping gold vein has been discovered with three drill holes, ZKX10944, ZKX10735, and ZKX10739 intercepting high grade gold, which are approximately 450 m east of those intercepts on the LM50 gold structure.

Highlights of the high-grade silver-lead-zinc mineralization at the northwest and east sides of the LMW mine:

• Hole ZKX1166 intersected a 1.36 m interval (1.23 m true width) of vein LM41E grading 2,415 g/t Ag, 2.61% Pb, 0.40% Zn, 0.05 g/t Au, and 0.90% Cu at the 778 m elevation; and
  
  

• Hole ZKX1143 intersected a 3.11 m interval (2.40 m true width) of vein LM41E grading 993 g/t Ag, 1.35% Pb, 0.54% Zn, 0.05 g/t Au, and 0.12% Cu at the 754 m elevation.
  
  

• Hole ZKX09X033 intersected a 1.3 m interval (0.88 m true width) of vein LM41EWa grading 1976 g/t Ag, 1.74% Pb, 0.45% Zn, 0.79 g/t Au, and 0.23% Cu at the 706 m elevation.
  
  

• Hole ZKX10944 intersected a 2.13 m interval (2.0 m true width) of a new gently dipping gold vein grading 478 g/t Ag, 2.14% Pb, 0.9% Zn, and 5.97 g/t Au, at the 763 m elevation
  
  

• Hole ZKX10735 intersected a 1.18 m interval (1.18 m true width) of the new gently dipping gold vein grading 5.37 g/t Au at the 760 m elevation
  
  

• Hole ZKX10739 intersected a 0.95 m interval (0.95 m true width) of the new gently dipping gold vein grading 5.65 g/t Au at the 754 m elevation

Table 1: Selected intercepts from the 2022 drilling program at the LMW mine

Hole ID	From (m)	To (m)	Elevation (m)	Interval (m)	True Width (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (g/t)	Cu (%)	Vein	Ore Type
High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas
ZKX0432	185.86	186.97	787	1.11	0.75	323	0.75	0.86	0.03	0.06	W1	Ag-Pb-Zn
ZKX0438	144.83	145.86	862	1.03	0.96	315	1.83	0.22	0.05	0.03	W1	Ag-Pb-Zn
ZKX0460	161.61	163.12	849	1.51	1.12	217	6.49	0.19	0.03	0.03	W1	Ag-Pb-Zn
ZKX0463	171.36	173.68	817	2.32	1.91	510	4.26	2.25	0.07	0.12	W1	Ag-Pb-Zn
ZKX0636	146.74	147.92	963	1.18	0.91	2,511	3.45	1.01	0.05	0.38	W1	Ag-Pb-Zn
ZKX0815	142.93	143.64	985	0.71	0.49	73	12.84	0.07	0.05	0.02	W1	Ag-Pb-Zn
ZKX0819	18.49	21.56	1,082	3.07	2.17	178	1.00	0.04	0.01	0.06	W1	Ag-Pb-Zn
ZKX0820	21.73	24.45	1,077	2.72	1.64	706	1.02	0.12	0.05	0.26	W1	Ag-Pb-Zn
ZKX1005	53.60	54.58	897	0.98	0.95	381	5.30	0.13	0.05	0.04	W1	Ag-Pb-Zn
ZKX14213	120.64	121.77	911	1.13	0.70	396	0.39	0.06	0.05	0.03	W1	Ag-Pb-Zn
ZKX0815	137.63	138.40	988	0.77	0.53	1,891	1.78	0.84	0.05	0.31	W18	Ag-Pb-Zn
ZKX14214	139.43	146.01	1,039	6.58	1.19	646	3.12	0.30	0.05	0.16	W18	Ag-Pb-Zn
ZKX0819	61.43	61.93	1,049	0.50	0.35	1,212	1.27	0.49	0.01	0.49	W18E	Ag-Pb-Zn
ZKX0817	4.20	5.12	1,095	0.92	0.79	300	0.50	0.03	0.05	0.08	W1E	Ag-Pb-Zn
ZKX0818	69.16	70.07	1,055	0.91	0.80	539	0.33	0.18	0.05	0.08	W1E	Ag-Pb-Zn
ZKX0819	84.20	85.62	1,031	1.42	1.02	198	0.32	0.06	0.01	0.04	W1E	Ag-Pb-Zn
ZKX0650	105.92	106.52	993	0.60	0.32	1	0.01	0.01	7.13	0.09	W1E2	Ag-Pb-Zn
ZKX0450	69.19	71.38	1,031	2.19	1.36	1,216	6.77	0.61	0.05	0.18	W2	Ag-Pb-Zn
ZKX0465	58.47	60.69	1,041	2.22	1.26	831	2.70	0.26	0.02	0.29	W2	Ag-Pb-Zn
ZKX0636	103.95	104.67	993	0.72	0.56	667	0.56	0.27	2.61	0.38	W2	Ag-Pb-Zn
ZKX0650	64.26	65.46	1,022	1.20	0.64	256	0.47	0.16	0.01	0.03	W2	Ag-Pb-Zn
ZKX0651	69.77	70.70	1,052	0.93	0.54	1,537	0.60	0.15	0.03	0.34	W2	Ag-Pb-Zn
ZKX0818	84.14	87.32	1,045	3.18	2.82	2,238	5.90	0.61	0.07	0.36	W2	Ag-Pb-Zn
ZKX0819	118.25	119.25	1,005	1.00	0.72	1,622	1.96	0.20	0.01	0.04	W2	Ag-Pb-Zn
ZKX0039	126.57	127.39	879	0.82	0.77	80	4.30	2.75	0.03	0.01	W6	Ag-Pb-Zn
ZKX0046	132.12	133.44	817	1.32	0.75	73	6.62	0.39	0.05	0.01	W6	Ag-Pb-Zn
ZKX0431	198.49	199.92	825	1.43	1.18	471	1.04	0.36	0.05	0.19	W6	Ag-Pb-Zn
ZKX0454	175.59	176.32	861	0.73	0.66	367	5.75	1.21	0.21	0.04	W6	Ag-Pb-Zn
ZKX14005	141.48	142.40	924	0.92	0.87	307	2.37	0.32	0.05	0.10	W6	Ag-Pb-Zn
ZKX14404	104.79	106.35	893	1.56	1.56	150	2.34	1.22	0.05	0.03	W6	Ag-Pb-Zn
ZKX0454	186.46	187.85	856	1.39	1.25	398	0.81	0.16	0.05	0.03	W6E	Ag-Pb-Zn
ZKX0454	243.14	243.74	832	0.60	0.54	52	10.14	0.39	0.05	0.00	W6E2	Ag-Pb-Zn
ZKX0438	100.57	101.58	884	1.01	0.94	43	1.12	0.22	1.74	0.02	W6W	Ag-Pb-Zn
ZKX0439	98.03	98.78	910	0.75	0.74	483	3.22	0.95	0.05	0.12	W6W	Ag-Pb-Zn
ZKX0634	56.04	60.07	1,031	4.03	3.43	970	16.20	0.60	0.10	0.29	W6W	Ag-Pb-Zn
ZKX13630	137.23	137.74	1,014	0.51	0.45	1,077	4.84	0.48	0.02	0.54	W6W	Ag-Pb-Zn
Low Angle Gold-Copper-Silver Veins
ZKX0082	292.17	293.61	878	1.44	0.76	73	0.54	0.52	13.06	1.70	LM22	Au-Ag-Cu
ZKX05X096	77.81	78.32	848	0.51	0.38	2	0.01	0.02	32.50	0.05	LM22	Au-Ag-Cu
ZKX05X097	84.82	85.77	855	0.95	0.72	37	0.00	0.03	1.63	7.39	LM22	Au-Ag-Cu
ZKX05X098	76.67	77.44	850	0.77	0.70	10	0.00	0.01	29.00	1.21	LM22	Au-Ag-Cu
ZKX05X100	76.16	77.14	845	0.98	0.70	1	0.00	0.01	3.40	0.14	LM22	Au-Ag-Cu
ZKX0+A3:U198390	60.86	61.63	640	0.77	0.58	37	0.01	0.03	0.92	5.43	LM26	Au-Ag-Cu
ZKX0188	16.94	17.97	737	1.03	0.97	4	0.00	0.01	2.88	0.00	LM26	Au-Ag-Cu
ZKX0191	86.24	89.04	662	2.80	1.64	37	0.07	0.01	3.21	0.29	LM26	Au-Ag-Cu
ZKX03X021	98.88	105.91	602	7.03	5.39	2,896	0.15	0.12	0.17	2.58	LM26	Au-Ag-Cu
ZKX11046	43.05	43.92	668	0.87	0.73	214	1.34	0.11	0.03	0.02	LM26	Ag-Pb-Zn
ZKX11223	44.84	51.41	670	6.57	3.20	1780	16.71	0.69	1.23	0.23	LM26	Au-Cu-Ag
ZKX11238	44.05	53.59	670	9.54	3.37	1,323	7.45	0.55	0.98	0.32	LM26	Au-Ag-Cu
ZKX0251	20.25	22.01	784	1.76	1.20	140	3.19	0.29	1.38	0.12	LM50	Au-Ag
ZKX0341	165.20	166.10	737	0.90	0.60	15	0.01	0.02	5.59	1.74	LM50	Au-Ag
ZKX03X054	168.91	169.90	818	0.99	0.84	4	0.01	0.02	2.53	0.01	LM50	Au-Ag
ZKX03X055	164.35	165.47	803	1.12	0.75