CHINA - Vancouver-based SILVERCORP METALS reports that it has encountered a new bonanza-grade silver-lead-zinc vein at its Ying project in Henan Province. Surface drilling intersected 3.22 metres of a massive galena sheet grading 3,287 g/t (105.68 opt) Ag, 54.05% Pb and 6.50% Zn as well as a 1.5-metre sheet grading 2,853 g/t Ag, 34.43% Pb and 2.91% Zn. These assays come from the newly discovered S21 vein.
Silvercorp subsidiary and operator of the project, HENAN FOUND MINING, has compiled an NI 43-101-compliant report of resources in five other veins on the project. Measured and indicated resources total 420,543 tonnes averaging 1,393 g/t Ag, 32.76% Pb and 9.99% Zn. There are also 495,205 tonnes of inferred resources averaging 1,538.97 g/t Ag, 35.01% Pb and 9.56% Zn. Estimates for two other known veins were not made.
Hunan Found is shipping underground development ore directly to a smelter for processing. The ore was recovered as part of a 5,000-metre tunnelling program. Additional information is available at www.Silvercorp.ca.