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.
The significance of this announcement lies in the substantial reserve growth, which not only bolsters Silvercorp's asset base but also extends the mine life by several years. This is particularly important for investors as it indicates sustained production capacity and potential for long-term cash flow generation. The increase in reserves and resources, especially the 55% rise in probable reserves, suggests successful exploration and expansion efforts at the Ying Mining District. The projected production ramp-up from 1.2 million tonnes to over 1.6 million tonnes by fiscal 2029 further underscores the company's growth trajectory.
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 strategy focuses on generating free cash flow from long-life mines, organic growth through extensive drilling, ongoing merger and acquisition efforts, and a long-term commitment to responsible mining and ESG.
The latest news and updates relating to SVM are available in the company's newsroom at https://ibn.fm/SVM. Rocks & Stocks, a specialized communications platform delivering deep insights into the mining industry, facilitated this announcement. For more information, visit https://RocksAndStocks.news.
