Silvercorp reports increased reserves and resources at Gaocheng mine, China

The four authors of the GC NI 43-101 technical report all qualify as independent qualified persons. Two of the authors visited the GC Mine in January 2018. AMC examined all aspects of the project, including drill core, underground workings, processing plant and surface infrastructure. The GC NI 43-101 technical report will be made available for review on the SEDAR system and on the company’s website at www.silvercorp.ca in due course.

Report highlights

From the start of operations at the GC Mine in 2014 through to 31 December 2018, 1 251 000 t have been mined at average head grades of 96 gpt silver, 1.5% lead and 2.7% zinc.

Despite mine production depletion, there has been a 7% increase in tonnes of proven and probable reserves compared to the mineral reserve estimate in the previous technical report (effective date of report 30 June 2018).

Based on proven and probable reserves only, the GC Mine has a projected life of mine (LOM) of 12 years through to 2031, at an average annual production rate of approximately 300 000 t, and with average silver equivalent grades of approximately 334 gpt for the first six years and then 271 gpt for the remainder of the mine life. The GC Mine also has the potential to extend the LOM beyond 2031, via conversion of existing mineral resources to mineral reserves, and further exploration and development.

Measured and Indicated Mineral Resource tonnes increased by 42%, which is due to an increase in the number of veins and conversion of Inferred material to a higher classification level. Inferred tonnes have decreased by 3%. The results of the underground drilling programme at the GC Mine show that vein structures are still open at depth.

Read the article online at: https://www.globalminingreview.com/mining/04092019/silvercorp-reports-increased-reserves-and-resources-at-gaocheng-mine-china/