Silvercorp Metals Inc. Updates Condor Project Resource Estimate, Highlighting High-Grade Underground Potential
Silvercorp Metals Inc. announces an updated mineral resource estimate for its Condor Project in Ecuador, signaling potential for high-grade underground gold mining and setting the stage for future development.
Silvercorp Metals Inc. (NYSE-A: SVM) (TSX: SVM) has released an updated mineral resource estimate for its Condor Project in Ecuador's Zamora-Chinchipe Province, revealing significant high-grade underground potential. The estimate, prepared by SRK Consulting (Canada) Inc., indicates total indicated underground mineral resources of 3.17 million tonnes at the Camp and Los Cuyes deposits, containing 0.37 million gold equivalent ounces at a cutoff grade of 2.2 g/t AuEq. Additionally, total inferred underground mineral resources stand at 12.1 Mt, containing 1.50 million gold equivalent ounces at the same cutoff grade.
The company is currently conducting a 3,500-metre drill program aimed at expanding known mineralization zones. A Preliminary Economic Assessment for an underground operation is anticipated by the end of 2025, with the El Domo Project development progressing towards a targeted 2026 production start. This update marks a pivotal step in Silvercorp's strategy to reposition the Condor Project as a high-grade underground gold mining venture. For further details, visit https://ibn.fm/J4HYK.