Silvercorp Metals Inc. Updates Mineral Resource Estimate for Condor Project in Ecuador
TL;DR
Silvercorp Metals' updated mineral resource estimate reveals significant gold equivalent ounces, offering investors a competitive edge in the high-grade underground gold project market.
Silvercorp Metals' Condor Project in Ecuador reports 3.17 million tonnes of indicated and 12.1 Mt of inferred underground mineral resources, with a detailed 3,500-metre drill program underway.
Silvercorp Metals' development of the El Domo Project and Condor Project contributes to economic growth and job creation in Ecuador, improving local communities' futures.
Discover how Silvercorp Metals' Condor Project could redefine Ecuador's mining landscape with its high-grade underground gold potential and ongoing expansion efforts.
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Silvercorp Metals Inc. (NYSE-A: SVM) (TSX: SVM) has recently unveiled an updated mineral resource estimate for its Condor Project located in Ecuador, emphasizing the high-grade underground potential of the Camp and Los Cuyes deposits. This estimate, meticulously prepared by SRK Consulting (Canada) Inc., reveals substantial underground mineral resources, with 3.17 million tonnes in the indicated category and 12.1 million tonnes in the inferred category. These resources contain 0.37 million and 1.50 million gold equivalent ounces, respectively, at a cutoff grade of 2.2 g/t AuEq.
The significance of this update cannot be overstated, as it underscores the Condor Project's potential to become a leading high-grade underground gold operation. Silvercorp Metals Inc. is currently engaged in a 3,500-metre drill program aimed at expanding the known mineralization zones, a critical step towards unlocking the project's full potential. Furthermore, the company anticipates completing a Preliminary Economic Assessment for an underground operation by the end of 2025, with the El Domo Project also on track for a targeted production start in 2026.
This strategic update is a testament to Silvercorp's commitment to leveraging Ecuador's rich mineral resources, positioning the Condor Project as a cornerstone of its portfolio. The project's advancement not only highlights the company's operational excellence but also contributes to the broader narrative of Ecuador's emerging role in the global mining sector. For more detailed information, visit https://ibn.fm/J4HYK.
Curated from InvestorBrandNetwork (IBN)
