Q2 FISCAL 2021 CONSOLIDATED OPERATIONAL HIGHLIGHTS
- Ore mined of 267,852 tonnes, a 3% increase over Q2 Fiscal 2020;
- Sold approximately 1.7 million ounces of silver, 2,200 ounces of gold, 18.6 million pounds of lead, and 7.4 million pounds of zinc, representing an increase of 98% and 11% in gold and zinc sold, and a decrease of 8% and 3% in silver and lead sold over Q2 Fiscal 2020; and
- Produced approximately 1.7 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 7.1 million pounds of zinc, representing an increase of 2% in zinc production, and a decrease of 8%, 6%, and 3% in silver, gold, and lead production over Q2 Fiscal 2020.
The operational results for Q2 Fiscal 2021 are summarized as follows:
Three months ended | Three months ended | |||||||||
GC | BYP | Consolidated | GC | Consolidated | ||||||
Production Data | ||||||||||
Ore Mined (tonne) | 181,020 | 86,833 | - | 267,853 | 176,085 | 83,172 | 259,257 | |||
Ore Milled (tonne) | 179,083 | 84,850 | - | 263,933 | 179,147 | 86,134 | 265,281 | |||
Head Grades | ||||||||||
Silver (gram/tonne) | 288 | 81 | - | 306 | 100 | |||||
Lead (%) | 4.4 | 1.8 | - | 4.5 | 2.0 | |||||
Zinc (%) | 0.7 | 3.4 | - | 0.8 | 3.2 | |||||
Recovery Rates | ||||||||||
Silver (%) | 94.4 | 82.5 | - | 96.2 | 75.9 | |||||
Lead (%) | 96.1 | 89.2 | - | 95.7 | 88.3 | |||||
Zinc (%) | 57.9 | 87.3 | - | 58.6 | 86.1 | |||||
Sales Data | ||||||||||
Silver (in thousands of ounces) | 1,556 | 184 | - | 1,740 | 1,711 | 183 | 1,894 | |||
Gold (in thousands of ounces) | 1.0 | - | 1.2 | 2.2 | 1.1 | - | 1.1 | |||
Lead (in thousands of pounds) | 15,585 | 2,966 | - | 18,551 | 16,389 | 2,680 | 19,069 | |||
Zinc (in thousands of pounds) | 1,384 | 6,027 | - | 7,411 | 1,428 | 5,227 | 6,655 | |||
Metal production | ||||||||||
Silver (in thousands of ounces) | 1,525 | 182 | - | 1,707 | 1,651 | 210 | 1,860 | |||
Gold (in thousands of ounces) | 1.1 | - | 1.1 | 1.2 | 1.2 | |||||
Lead (in thousands of pounds) | 16,080 | 3,006 | - | 19,085 | 16,388 | 3,279 | 19,667 | |||
Zinc (in thousands of pounds) | 1,643 | 5,490 | - | 7,133 | 1,813 | 5,199 | 7,011 |
The operational results for the first six months of Fiscal 2021 are summarized as follows:
Six months ended | Six months ended | |||||||||
GC | BYP | Consolidated | GC | Consolidated | ||||||
Production Data | ||||||||||
Ore Mined (tonne) | 355,196 | 167,212 | - | 522,408 | 352,669 | 163,980 | 516,649 | |||
Ore Milled (tonne) | 356,772 | 169,487 | - | 526,259 | 356,828 | 167,996 | 524,824 | |||
- | ||||||||||
Head Grades | - | |||||||||
Silver (gram/tonne) | 290 | 87 | - | 318 | 97 | |||||
Lead (%) | 4.5 | 1.8 | - | 4.5 | 1.9 | |||||
Zinc (%) | 0.8 | 3.4 | - | 0.9 | 3.3 | |||||
- | ||||||||||
Recovery Rates | - | |||||||||
Silver (%) | 94.6 | 82.7 | - | 96.0 | 76.4 | |||||
Lead (%) | 96.1 | 89.5 | - | 95.7 | 88.5 | |||||
Zinc (%) | 60.9 | 87.3 | - | 58.5 | 85.9 | |||||
Sales Data | ||||||||||
Silver (in thousands of ounces) | 3,228 | 384 | - | 3,612 | 3,373 | 376 | 3,749 | |||
Gold (in thousands of ounces) | 2.1 | - | 1.2 | 3.3 | 2.1 | - | 2.1 | |||
Lead (in thousands of pounds) | 33,364 | 6,072 | - | 39,436 | 31,225 | 5,686 | 36,911 | |||
Zinc (in thousands of pounds) | 3,421 | 10,948 | - | 14,369 | 3,518 | 10,471 | 13,989 | |||
Metal production | ||||||||||
Silver (in thousands of ounces) | 3,068 | 391 | - | 3,459 | 3,415 | 401 | 3,816 | |||
Gold (in thousands of ounces) | 2.2 | - | - | 2.2 | 2.2 | - | 2.2 | |||
Lead (in thousands of pounds) | 33,021 | 6,142 | - | 39,163 | 33,316 | 6,242 | 39,558 | |||
Zinc (in thousands of pounds) | 3,563 | 11,103 | - | 14,667 | 3,860 | 10,415 | 14,275 |
In Q2 Fiscal 2021, ore mined at the
For the first six months of Fiscal 2021, metal production at the
In Q2 Fiscal 2021, ore mined at the
For the first six months of Fiscal 2021, metal production at the
In Q2 Fiscal 2020, the Company sold all remaining gold concentrate inventories that had been produced by the mine before it was placed on care and maintenance.
Filing of NI 43-101 Technical Report on
The Company has filed on SEDAR an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects on the
About Silvercorp
Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in
For further information
Silvercorp Metals Inc.
Vice President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorp.ca
CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS
Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws (collectively, “forward-looking statements”). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s revenues and capital expenditures; estimated production from the Company’s mines in the
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: social and economic impacts of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company’s existing operations; competition; operations and political conditions; regulatory environment in
This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company’s forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
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