Silvercorp Metals Announces Major Exploration Results at Kyrgyzstan Gold Mine
en.Wedoany.com Reported - On August 18, Silvercorp Metals Inc. of Canada (hereinafter referred to as "Silvercorp") announced the assay results from the first 29 drill holes at its Chaarat Kyzyltash gold mine in Kyrgyzstan. The data show that the main ore body of the deposit exhibits good continuity and locally high grades, demonstrating significant resource potential. The company is currently accelerating its transformation into a diversified precious metals producer, supported by solid exploration results and a clear development pathway.
Silvercorp completed the acquisition of a 70% equity interest in Chaarat ZAAV in early 2026 and obtained the mining license for the Chaarat gold mine, with its validity extended to 2062. The mine is located in the Western Tianshan gold metallogenic belt, which offers favorable metallogenic conditions. The mining rights are divided into two parts: the core mining area covers approximately 7 square kilometers, comprising the Tulkubash/Kyzyltash segment, one of the largest undeveloped gold deposits in the metallogenic belt with exceptional resource endowment; the surrounding area includes a 27.42-square-kilometer exploration license zone, covering gold mineralized zones such as Karator and Ishakuld, which are currently at an early exploration stage and are expected to contribute to medium- and long-term resource growth.
According to the NI 43-101 compliant resource estimate report, the Tulkubash/Kyzyltash segment contains a total of 186 tonnes of gold and 644 tonnes of silver. Among these, the Kyzyltash sulfide ore hosts approximately 172 tonnes of gold resources at an average grade of 2.44 g/t.
The current drilling program totals over 50,000 meters, encompassing both infill and exploration drilling, spanning from line 1480 to line 5120, controlling a mineralized strike length of up to 3,640 meters. The results indicate that the ore body remains open in all directions and at depth, leaving substantial room for additional resource growth. The main drill hole DH26M687 intersected 212.5 meters of continuous mineralization with an average gold grade of 1.68 g/t, including a 29.5-meter high-grade interval at 3.26 g/t gold; drill hole DH26M686 intersected a 6-meter ultra-high-grade interval at 22.23 g/t gold; drill hole DH26M818 intersected 47 meters at 3.95 g/t gold; and drill hole DH26M703 delineated a 4.5-meter-thick interval at 18.77 g/t gold. Multiple parallel mineralized structures have been progressively exposed, revealing high-quality mineralization architecture and providing a reliable geological basis for future large-scale development.
Silvercorp stated that the exploration strategy has shifted from earlier step-out exploration to a focus on infill drilling, supplemented by peripheral verification, with the primary objective of providing data support for the pre-feasibility study and subsequent development. Ten drill rigs are currently operating continuously at the site, and results from subsequent batches will be released progressively.
According to the company's development plan, the Chaarat gold mine adopts a phased development model of "oxide ore first, sulfide ore following." Phase I, the Tulkubash oxide ore project, is planned to process 4 million tonnes of ore annually, with an expected annual gold production of over 3 tonnes, which will contribute stable cash flow to the company once operational; Phase II, the Kyzyltash sulfide ore project, is planned to process 3 to 4 million tonnes of ore annually, with an expected annual gold production of 5 to 7 tonnes, which will become the core driver of the company's gold production growth.
These exploration results have further consolidated the resource base of the mine. The 3,640-meter continuous mineralized zone and multiple newly discovered mineralized structures indicate that there remains considerable room for expansion of the resource boundaries. Meanwhile, the combination of thick ore intervals and locally ultra-high-grade ore bodies has significantly enhanced the economic viability of mining.
Silvercorp possesses mature overseas mining operational experience and robust cash flow. This exploration breakthrough has further strengthened the company's internal growth momentum and created conditions for future bolt-on acquisitions and asset expansion. Silvercorp stated that it will accelerate the pre-feasibility study and subsequent development of the Chaarat gold mine project, driving the company's transformation into a high-quality precious metals producer with both gold and silver as core businesses.
