BRITISH COLUMBIA – Vancouver’s Silvercorp Metals has received the first independent 43-101-compliant report for the Silvertip silver-lead-zinc property 85 km southwest of Watson Lake. The report was prepared by Golder Associates.
Numbers were released for the Lower and Upper zones. Using a 325 g/t AqEq cut-off grade, the Lower zone has an indicated resource of 2.5 million tonnes grading 315 g/t Ag, 5.88% Pb, 6.26% Zn and 0.41 g/t Au plus an inferred resource of 1.6 million tonnes grading 281 g/t Ag, 4.55% Pb, 5.64% Zn and 0.09 g/t Au. The Upper zone has an inferred resource of 3.6 million tonnes at 39 g/t Ag, 0.65% Pb and 2.36% Zn when a $25/tonne cut-off grade is applied. The property might contain more than 44 million oz of silver.
Silvercorp is preparing a small mine permit application, hoping to receive it in early 2013. Baseline environmental, wildlife and archaeological data has been collected and compiled, and the project description including handling of waste rock, potentially acid generating tailings, wastewater and mineralized concentrates is nearing completion. Buildings, surface facilities, service roads, access roads and site services layout has been finalized and engineering drawings are being completed.
As well as the Silvertip project, the company has producing silver-lead-zinc mines and development projects in Asia. Please see SilvercorpMetals.com.