Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) 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 net present value (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 strategy of creating shareholder value through organic growth and extensive drilling for discovery. The company has a long history of profitability and growth potential, producing silver, gold, lead, and zinc. The updated technical report highlights the mine's potential to generate free cash flow over an extended mine life, supporting Silvercorp's commitment to responsible mining and ESG principles.
For more details, the full press release can be viewed at https://ibn.fm/Mg5NC. Investors seeking the latest news and updates relating to SVM can visit the company’s newsroom at https://ibn.fm/SVM.
