Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has approved a US$196.3 million budget for Chaarat ZAAV CJSC, its 70%-owned joint venture in the Kyrgyz Republic, to advance the development of the Tulkubash and Kyzyltash gold projects. The budget includes US$166.3 million for Phase 1 development of the fully permitted Tulkubash open-pit heap leach operation and US$30 million for Phase 2 activities at the Kyzyltash sulfide deposit. Forecast spending is US$57.3 million in 2026 and US$139 million in 2027.
Phase 1 development at Tulkubash will include open-pit mining infrastructure, heap leach facilities, a crusher, ADR plant, and supporting infrastructure. The company expects to publish an updated feasibility study for Tulkubash in July 2026. Phase 2 funding will support drilling and technical studies aimed at advancing Kyzyltash toward feasibility and construction. Silvercorp plans a 50,000- to 60,000-meter drilling program at Kyzyltash this year to upgrade resources and expand the deposit.
The approval of this substantial budget underscores Silvercorp's commitment to growth and its strategy of creating shareholder value through free cash flow generation from long-life mines, organic growth via extensive drilling, and ongoing merger and acquisition efforts. The Tulkubash and Kyzyltash projects represent a significant expansion opportunity for the company, which has a long history of profitability in silver, gold, lead, and zinc production.
For more details, the full press release is available at https://nnw.fm/RTirNA. Information about Silvercorp Metals can be found in the company's newsroom at https://nnw.fm/SVM.
