Muzhu Mining Provides Information On Xwg Silver Property Adjacent To Silvercorp Metals
Vancouver, Feb. 01, 2022 - Muzhu Mining Ltd. ("Muzhu" or the "Company") (CSE: MUZU) is pleased to provide additional material on the Xiao Wa Gou property (XWG) ("the Property") adjacent to Silvercorp Metals Inc. located in Henan Province, China where Muzhu can earn up to an 80% interest (MUZU press release dated November 22nd, 2021)
The silver-lead-zinc XWG Property covers an area of 213 hectares and is situated in the Xiayu Township, in the southwestern part of Luoning County, Henan Province, in the People's Republic of China. The Property offers near term potential for the production of silver, lead, zinc and copper due to the presence of numerous mineralized veins and its proximity to a number of operating mines owned by Silvercorp Metals Inc. ("Silvercorp")
The XWG Property is located in China's "Silver Triangle" comprising the Tieluping Silver District to the east, the Ying Silver Mine to the west and the HPG Project to the north, and is surrounded by several other producing mines including the TLP silver-lead mine, and the LM silver-lead mine, all owned by Silvercorp. The TLP and LM mines are immediately adjacent to the northeast of the XWG Property.
Samples were taken during a 2018 exploration program that exhibit highly anomalous grades of Silver, Lead, Zinc and Copper. Some samples returned values as high as; 1,500 g/t Ag, 3.88 % Pb, 6680 ppm Zn and 7% Copper.
Figure 1. XWG Property Location map
More than seven (7) individual mineralized veins have been identified by previous work carried out on the Property by Team 6 of the Henan Nonferrous Geological Prospecting Department. Lengths of the known veins vary from 270 to 1,080 metres with widths varying from 1.0 to 5.0 metres.
The XWG property offers a unique exploration opportunity in the Ying Mining District. The Property is in the southeast portion of the Ying Mining District, immediately adjacent, to the southwest, of the TLP and LM mines. Approximately 224 mineralized veins have been identified to date at mines owned by Silvercorp in the District adjacent to the XWG Property. The mines are reported to have produced over 50 million oz of silver and more than 300 million kg of lead and zinc since 2006.
Previously constructed tunnels on the XWG Property represent a significant exploration and economic advantage on the Property, which will allow cost efficient underground access for exploration and development purposes. Toll mills are available within trucking distance of the Property. The need for mineral processing facilities on the Property is thus minimized.
Figure 2. XWG Property
Don Baxter P.Eng CEO of Muzhu Mining states, "Silvercorp Metals helped develop this District and have been successful in determining the validity of the geology with a number of successful operational mines within the immediate surroundings of Muzhu's XWG Property. With infrastructure in place for Muzhu Mining to potentially take advantage of Silver and Zinc market prices and a bullish outlook for the metals, Muzhu looks forward to commencing work on the XWG property throughout 2022."
Muzhu Mining's neighbour, Silvercorp Metals, continues to announce new developments from the district such as from June 1st, 2021 press release, "Intersects Vein T15W2 with 1.74 Metres True Width Grading 3,911 Grams Per Tonne Silver, 6.22% Lead, 2.11% Zinc and 0.55% Copper at the TLP Mine, Ying Mining District, China." June 1, 2021 - Silvercorp Metals Inc. (Silvercorp)
QUALIFIED PERSON (QP)
Tom Carpenter, P.Geo., is a Qualified Person as defined by National Instrument 43-101 ("N.I. 43-101") guidelines and has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Donald Baxter, P. ENG
CEO
Muzhu Mining Ltd.
Phone: 1-226-455-5644
Email: info@muzhumining.ca
About Muzhu Mining Ltd.
Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. As well, Muzhu has executed an option agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property in the Henan Province of China adjacent to Silvercorp Metals Inc.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
