Silvercorp Metals Reports GC Project Drill Results; Shares Dip 2%


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Silvercorp Metals Inc. ( SVM ) announced results from the underground tunneling component of its 2012 exploration program at the GC silver-lead-zinc project located in Guangdong Province, China. The GC project is in final mine development phase and is anticipated to commence initial production in early 2013.

As reported on September 6, 2012, the 2012 drilling program at the GC project intercepted numerous new mineralized veins and delineated significant new higher grade silver mineralization in some of the recently discovered vein structures such as V9W-2 and V9W-1 which run parallel to known vein structures. As a result, the goals of the current exploration program have been broadened to include upgrading the defined resource of the V9W-2 vein and associated parallel vein V9W-1.

SVM shares are down 1.6% at $6.03.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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