Silvercorp Metals Inc. has announced an updated mineral resource estimate for its Condor Project in Ecuador, highlighting the substantial high-grade underground potential of the Camp and Los Cuyes deposits. The comprehensive estimate, prepared by SRK Consulting (Canada) Inc., reveals total underground mineral resources of 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, calculated at a cutoff grade of 2.2 g/t AuEq.
The significance of this resource update extends beyond the raw numbers, representing a strategic pivot for Silvercorp Metals as it works to reposition the Condor Project as a high-grade underground gold operation. This development leverages Ecuador's rich mineral resources and demonstrates the country's growing importance in the global mining sector. The company is currently conducting an extensive 3,500-metre drill program specifically designed to expand the known mineralization zones, which could potentially increase the resource base even further.
A Preliminary Economic Assessment for an underground operation is anticipated by the end of 2025, which will provide critical economic parameters and development timelines for the project. Simultaneously, Silvercorp is advancing its El Domo Project toward a targeted production start in 2026, creating a pipeline of development assets in the region. For additional information about these developments, visit https://ibn.fm/J4HYK.
The updated resource estimate marks a pivotal moment in Silvercorp's Ecuadorian operations, demonstrating the company's commitment to methodical resource development and strategic project advancement. The substantial inferred resources provide significant upside potential for future conversion to higher confidence categories as drilling continues. This announcement reinforces Silvercorp's position in Ecuador's emerging mining landscape and underscores the technical viability of developing underground operations in the region.
