Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has reported a significant increase in mineral resources at its Gaocheng silver-lead-zinc mine in Guangdong Province, China, according to an updated NI 43-101 technical report. The measured and indicated resource tonnage rose 59% to 18.3 million tonnes, containing 38.3 million ounces of silver, 167,000 tonnes of lead, and 408,000 tonnes of zinc. This represents increases of 23%, 24%, and 25% in contained silver, lead, and zinc, respectively, 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. Reserve tonnage increased 25% from the prior estimate. Based on current reserves, Silvercorp plans to increase annual mine throughput to approximately 370,000 tonnes from 2029 through 2041. The updated life-of-mine plan generates an estimated post-tax net present value (NPV) of $101.4 million at an 8% discount rate.
“We are very pleased with the results of the updated technical report, which underscores the strong long-term potential of the Gaocheng Mine,” said a company spokesperson. The report concluded that the mine remains a strongly viable operation with additional potential for resource expansion through future exploration and development.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc, with a strategy focused on generating free cash flow from long-life mines, organic growth through drilling, and merger and acquisition efforts. The full press release is available at https://ibn.fm/Mg5NC.
