Resource News

Trading Symbol TSX: SVM
NYSE AMERICAN: SVM

 Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) provides updates on the construction plan and progress on its new 3,000 tonne per day flotation mill (the "New Mill") and tailings storage facility ("TSF") at the Ying Mining District, Henan Province China .

Silvercorp Metals Inc. Logo (CNW Group/Silvercorp Metals Inc)

The plan and the required regulatory approval process to build the New Mill and the TSF were announced on November 16, 2021 . Currently, the Company has made progress in the following areas: i) agreements to lease 123.46 hectares of land have been negotiated with the local community; ii) the environmental assessment report and safety assessment report for the TSF have been completed and filed with the local county government, and the reports for the New Mill have been drafted and are to be finalized pending completion of the preliminary engineering design of the New Mill; iii) seven drill rigs are currently on site and 1,738 of 3,300 metres of foundation engineering survey drilling have been completed; and iv) contractor selection to construct 5,100 metres of drain tunnels at the TSF has been initiated.

The updated budget is estimated to be approximately US$29.8 million for the New Mill and US$38.0 million for the TSF.  The New Mill will be equipped with a Knelson gold gravity separation circuit and designed to produce silver-lead, zinc, copper, and gold concentrates. The TSF may be constructed in two phases, with approximately 10.2 million cubic metres of storage capacity in Phase 1, and approximately 8.9 million cubic metres of capacity in Phase 2, for a total storage capacity of 19.1 million cubic metres. The Company expects that construction of the New Mill will be completed by the end of 2023, and Phase 1 of the TSF by the end of 2024.

The following tables summarize the estimated budget and construction schedules for the New Mill and TSF:

Category

Description

Target
Completion
Schedule

Estimated Expenditures

(in millions of US$)

Fiscal
2023

Beyond
Fiscal 2023

Total

3,000 tonne per day mill

Design &
Permitting

Land Lease
& Rezoning

April-22

0.3

-

0.3

Design &
Engineering

August-22

0.5

-

0.5

Environmental &
Safety Assessment

August-22

0.2

-

0.2

Construction
& Equipment

Site Preparation

October-22

1.0


1.0

Road Construction

October-23

1.7

0.3

2.0

Mill Construction

October-23

7.5

4.6

12.1

Equipment
Acquisition

March-23

10.1

-

10.1

Installation

October-23

1.5

0.7

2.2

Contigency

December-23

1.0

0.4

1.4

Total Expenditures


23.8

6.0

29.8

Category

Description

Target
Completion
Schedule

Estimated Expenditures

(in millions of US$)

Fiscal
2023

Beyond
Fiscal 2023

Total

Tailings Storage Facility

Design &
Permitting

Land Lease &
Rezoning

April-22

3.1

-

3.1

Design &
Engineering

June-22

0.4

-

0.4

Environmental &
Safety
Assessment

May-22

0.1

-

0.1

Construction

Site Preparation

December-22

2.3

-

2.3

TSF Construction

October-24

8.5

19.7

28.2

Contingency

December-24

1.7

2.2

3.9

Total Expenditures

16.1

21.9

38.0

The New Mill and TSF are being constructed to provide the Company with additional capacity to continue growing its existing mining operations at the Ying Mining District in light of recent successful drilling programs that have discovered new resources, to process ore from recent acquisitions, and for potential consolidation of other nearby projects. Once the New Mill is completed, the Company will decommission its No. 1 mill to have approximately 5,000 tonnes per day of milling capacity. A new training facility and R&D centre are planned at No. 1 mill site.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, lead, and zinc metals in concentrates from mines in China . The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth, and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca .

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Certain of the statements and information in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.  Forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, social and economic impacts of COVID-19; risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; title to properties; property interests;  joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations;  competition;  operations and political conditions; regulatory environment in China and Canada;  environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 under the heading "Risk Factors".  Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.  Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/silvercorp-provides-updates-to-the-construction-plan-and-progress-on-its-new-3-000-tonne-per-day-mill-and-associated-tailings-storage-facility-for-the-ying-mining-district-301490217.html

SOURCE Silvercorp Metals Inc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2022/24/c5706.html

News Provided by Canada Newswire via QuoteMedia

SVM:CA,SVM
OTC:NUMPF

New Pacific Metals: A New Frontier of Silver Exploration

New Pacific Metals (TSX:NUAG,OTCQX:NUMPF) has launched its campaign on the Investing News Network’s resource channel.

New Pacific Metals is an exploration and development company targeting projects in Bolivia. The company’s largest shareholders are Silvercorp Metals Inc. (TSX:SVM), the largest primary silver producer in China, and Pan American Silver Corp. (TSX:PAAS), one of the world’s largest primary silver producers. Both Silvercorp and Pan American Silver hold additional Bolivian assets.

Keep reading...Show less

New to the Investing News Network

New to the Investing News Network – August 2021

Keep reading...Show less
TSX:SVM

Silvercorp Reports High-Grade Mineralization Discovery Below Current Production Levels Within Major Vein Structures at GC Ag-Pb-Zn Mine in Guangdong Province, China

Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) is pleased to report results of its 2016 and 2017 exploration program at its GC Ag-Pb-Zn mine, Guangdong Province, China.

In 2016 and 2017, the Company launched extensive exploration program and completed a total of 33,029 meters (“m”) of underground diamond drilling and 19,619 m of exploration tunneling at its GC Ag-Pb-Zn mine. Significant high-grade mineralized zones have been exposed at and below the current production levels, and major mineralized zones have been extended along strike and downdip.

Keep reading...Show less
Silver Investing

Silvercorp Reports Q3 Results: Net Income of $12.7 Million, $0.08 per Share and Provides Fiscal 2019 Production and Cash Costs Guidance

Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM) (NYSE American:SVM) reported its financial and operating results for the third quarter ended December 31, 2017.  All amounts are expressed in US Dollars.

THIRD QUARTER HIGHLIGHTS

Source: www.prnewswire.com

Keep reading...Show less
TSX:SVM

Silvercorp to Announce Third Quarter Results on February 8, 2018

Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM, NYSE American: SVM) announces that its unaudited financial and operating results for the third quarter ended December 31, 2017 will be released on Thursday, February 8, 2018 after the market close.
About Silvercorp Metals Inc.
Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China.   The Company’s vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically.  For more information, please visit our website at www.silvercorpmetals.com
SOURCE Silvercorp Metals Inc
Click here to connect with Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) for an Investor Presentation.

Source: www.prnewswire.com

MAG Reports AGSM Results

MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or the "Company") reports that at its annual general and special meeting (the " AGSM ") held on June 22, 2022, MAG's Shareholders approved by majority: to elect all eight directors standing for election; to re-appoint Deloitte LLP as auditors of the Company; to support the Company's approach to executive compensation; and to approve the continuation, amendment and restatement of the Company's Shareholder Rights Plan.

Detailed results of the total shares voted at the AGSM are set out below.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver Hammer President Morgan Lekstrom

Silver Hammer President Morgan Lekstrom: Well Hedged to Meet Future Demands

Silver Hammer Mining President & CEO Morgan Lekstromyoutu.be

Keep reading...Show less
Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

  • Drilling program confirms widths and grades of intersections from previous drilling campaigns.
  • Preliminary results from recently finalized geophysical surveys confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike in two zones to the east.

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) announced today that it has received complete assays for thirty-one additional drill holes, mainly in-fill holes, totaling approximately 8,236 meters, from the ongoing surface diamond drilling program on its polymetallic Lomero-Poyatos Project in southern Spain. To date, Denarius has completed approximately 22,543 meters of drilling in 75 drill holes, including twinning of historical drill holes. The validation and in-fill phases, totaling 66 holes and representing 81% of the initial program, are now complete. There are three drill rigs onsite continuing with the resource expansion portion of the initial program. In addition to the diamond drilling, the Company has received preliminary results from the recently completed geophysical surveys that confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike to the east in two zones as previously announced based on discoveries made during field mapping.

The helicopter-borne time-domain electromagnetic ("TDEM" or "TEM") and ground-based gravimetric surveys were completed in mid-April and early May, respectively.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
silver bars

Investing in Silver Bullion in Australia

When one thinks of investing in precious metals, gold is often seen as the main option owing to its historical profile as a safe haven metal and hedge against inflation and stock market volatility. However, investors should also consider silver as an attractive alternative to gold with equal if not greater upside potential.

In an February interview with Investing News Network, David Morgan of the Morgan Report said he expects silver to break through the US$30 per ounce mark in 2022 and trade in the US$33 range. That would represent a gain of more than 30 percent over the current price of silver which was trading in the range of $24 to $25 as of April.

Keep reading...Show less

SilverCrest Reports Results of 2022 AGM

TSX: SIL | NYSE American: SILV

 SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce the results of its Annual General Meeting of Shareholders ("AGM") held in Vancouver, BC on June 15, 2022 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×