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Silvercorp Metals Inc.
Summary
| Project: | BYP | |
|---|---|---|
| Deposit: | BYP | |
| Location: | China | |
| Commodities: | Gold-Lead-Zinc | |
| Date: | 6/10/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-6-2019: Silvercorp Metals Inc. announces a Resource Estimation report for its BYP deposit at the BYP project. Amended resource estimate technical report. RPMGlobal Asia Limited (“RPM”), was requested by Silvercorp Metals Inc. (“Silvercorp”, the “Compan | |
| Resources: | ||
| CP/QP: | [Resources]: Robert Dennis (RPM Global) | |
| ABSTRACT: | RPMGlobal Asia Limited (“RPM”), was requested by Silvercorp Metals Inc. (“Silvercorp”, the “Company” or the “Client”) to complete an Updated Mineral Resource Technical Report (“MRTR” or the “Report”) of the Baiyunpu (“BYP”) Gold-Lead-Zinc Project (the “Project”, “Property” or “Relevant Asset”), in August 2018 for the purpose of the Report’s filing on SEDAR in accordance with the requirements of Canadian National Instrument 43-101 (“NI 43-101”) of the Canadian Securities Administrators and the Company’s reporting obligations as a Reporting Issuer in Canada. This updates the information in the NI 43-101 Report dated 30th June 2012 which was compiled by AMC Mining Consultants (Canada) Ltd. On January 13th, 2011, Silvercorp, through its wholly-owned subsidiary Wonder Success Ltd, acquired a 70% equity interest in Xinshao Yunxiang Mining Co. Ltd. (“Yunxiang Mining”), a private mining company in Hunan Province, China, which owns the BYP Gold-Lead-Zinc mine as its primary asset. The mine was previously permitted to extract lead and zinc. Silvercorp hold the surface land rights which cover the main mine areas until 2063 precluding other entities from applying for the surface and sub-surface rights of the mine areas. RPM understands Silvercorp has submitted the 2018 BYP resource reconciliation report which is required and has been reviewed and filed by the Hunan Provincial Department of Land and Resources. RPM also understands that although the development and utilization programme and environmental reports are still in progress, the Client will lodge an application for a new sub-surface mining license at 2019 to allow the extraction of gold in addition to lead and zinc upon the completion of reviews for the development and utilisation programme and environmental reports, which are in preparation. RPM therefore considers there is no reasonable hindrance to granting of the new mining license in late 2019 which will include the addition of gold extraction. RPM makes this conclusion based on its experience with other projects in China where the holder of the surface land rights and prior sub surface rights is given first right of refusal over the ongoing development of a Project. RPM recommends that potential investors complete their own legal due diligence on this matter. | |
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