Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has reported results from an updated NI 43-101 technical report for its Ying Mining District in China, highlighting significant growth in mineral reserves and resources and extending the operation's projected mine life through 2042. The report outlines Proven and Probable Mineral Reserves of 19 million tonnes containing 106 million ounces of silver, 107,000 ounces of gold, 472,000 tonnes of lead and 150,000 tonnes of zinc. Compared with the 2024 technical report, Proven Reserve tonnes increased 45% and Probable Reserve tonnes rose 55%, while contained silver, gold, lead and zinc increased 20%, 52%, 16% and 22%, respectively.
The updated report also estimates Measured and Indicated Mineral Resources of 42.18 million tonnes containing 198 million ounces of silver, 231,000 ounces of gold, 944,000 tonnes of lead and 284,000 tonnes of zinc. Silvercorp said annual ore production is expected to increase from approximately 1.2 million tonnes in fiscal 2026 to more than 1.6 million tonnes by fiscal 2029, with that level maintained through fiscal 2031. Using long-term metal price assumptions and a 5% discount rate, the life-of-mine plan generates projected pre-tax and post-tax net present values of $1.28 billion and $1.03 billion, respectively.
This reserve expansion underscores the company's ability to extend the lifespan of its flagship asset, which is crucial for sustaining production and cash flow. The Ying Mining District is a key contributor to Silvercorp's profitability, and the increased reserves provide a solid foundation for future growth. The company's strategy focuses on generating free cash flow from long-life mines, organic growth through extensive drilling, and ongoing merger and acquisition efforts. For more details, the full press release is available at https://ibn.fm/QhB54.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The company's long-term commitment to responsible mining and ESG principles further strengthens its position in the industry. Investors can find the latest news and updates relating to SVM in the company's newsroom at https://ibn.fm/SVM.
The updated technical report not only confirms the viability of the Ying Mining District but also demonstrates Silvercorp's ability to efficiently convert resources into reserves. With a projected mine life extending to 2042, the company is well-positioned to deliver long-term value to its shareholders. The increase in reserves and resources is a positive indicator for the company's future production and financial performance.
