Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has released results from an updated NI 43-101 technical report for its Gaocheng silver-lead-zinc mine in Guangdong Province, China, revealing a 59% increase in measured and indicated mineral resource tonnage to 18.3 million tonnes. The updated estimate includes 38.3 million ounces of contained silver, 167,000 tonnes of lead and 408,000 tonnes of zinc, representing increases of 23%, 24% and 25%, respectively, in contained metals compared with the 2024 technical report.
The company also reported proven and probable mineral reserves of 6.2 million tonnes containing 12.5 million ounces of silver, 56,000 tonnes of lead and 138,000 tonnes of zinc, a 25% increase in reserve tonnage from the prior estimate. Based on current reserves, Silvercorp plans to increase annual mine throughput to approximately 370,000 tonnes from 2029 through 2041, with the updated life-of-mine plan generating an estimated post-tax NPV of $101.4 million at an 8% discount rate. The report concluded that the Gaocheng Mine remains a strongly viable operation with additional potential for resource expansion through future exploration and development.
This significant resource upgrade underscores Silvercorp's commitment to organic growth through extensive drilling, as part of its strategy to create shareholder value. The company focuses on generating free cash flow from long-life mines, ongoing merger and acquisition efforts, and long-term responsible mining and ESG practices. For more details, the full press release is available at https://ibn.fm/Mg5NC.
Silvercorp Metals is a Canadian mining company producing silver, gold, lead, and zinc with a history of profitability and growth potential. The updated resource estimate and mine plan indicate strong operational viability and the potential for further resource expansion through continued exploration.
