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VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 31, 2012) – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM)(NYSE:SVM) is pleased to announce it has received a positive Pre-Feasibility Study (“PFS”) for its 95%-owned GC Project in Guangdong Province, China. The PFS was prepared by independent consulting firm AMC Mining Consultants (Canada) Ltd. (“AMC”).
“The Company has already commenced construction at the GC Project and initial production is expected to commence in the 3rd quarter of calendar year 2012,” said Rui Feng, Silvercorp’s Chairman & CEO. “We are pleased that Proven and Probable Reserves at the GC Project have been established for the first time, and the PFS also reconfirms the project’s robust economics.”
Highlights of the Pre-Feasibility Study
In preparation for production, a 1,500 tonne per day (tpd) (rising to 1,570 tpd after five years) mining capacity and 1,600 tpd flotation milling capacity facilities are under construction. The flotation mill is designed to generate silver-lead, zinc, and pyrite concentrates. The optional gravity tin recovery circuit can be appended to the main circuit to recover tin from tailings.
