Silvercorp to Acquire BYP Gold-Lead-Zinc Mine in Hunan Province, China

Silvercorp Metals Inc. (TSX:SVM,NYSE:SVM) signs a share purchase agreement and a Sino-Foreign cooperative joint venture contract.

The press release is quoted as saying:

At present, gold mineralization is accessible by underground tunnels at the 252m elevation, about 100m from surface. As part of the due diligence review, extensive gold mineralization defined by previous drilling has been confirmed by Silvercorp geologists who carried out a systematic channel sampling program in four newly developed underground tunnels that cross-cut through the #3 gold ore (see table below).

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