Benzinga | Feb 2, 2021 07:00AM EST

Silvercorp Subsidiary Acquires the La Yesca Silver Project, Nayarit State, Mexico

Silvercorp Metals Inc. ("Silvercorp" or the "Company") (NYSE:SVM) announces its subsidiary, New Infini Silver Inc. ("New Infini"), has acquired a 100% interest in the La Yesca Silver Project ("La Yesca" or the "Project"), a silver-polymetallic, epithermal-type project located in Nayarit State, Mexico, approximately 100 kilometres ("km") (185 km by road) northwest from Guadalajara, the second-largest city in Mexico.

La Yesca Silver Project

The Project covers an area of approximately 47.7 square km. Previous exploration activities between 2014 and 2018 included geological mapping, stream sediment and soil geochemical surveys, and widely-spaced drilling. A silver-lead-zinc soil geochemical anomaly of more than 500 metres ("m") wide by 7.5 km long has been defined.

A total of 4,878 m3 in 106 trenches and surface strips and 7,649 m of diamond drilling in 25 widely-spaced drill holes has been completed to test the southern half of the 7.5 km long geochemical anomaly in Areas I, II, and III (see Figure 1). Fifty-six surface trenches and all of the 25 near vertically-drilled holes intersected mineralization, with 22 of the drill holes intersecting multiple mineralized intervals that have defined a northwest-trending 1,100 m long and 200 m wide mineralized zone in Area I, and a 3,500 m long and 400m wide zone in Areas II and III (see Figure 1).