# SILVERCORP REPORTS UPDATED MINERAL RESERVES AND RESOURCES AT THE GC MINE

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90

Original source: https://money.tmx.com/en/quote/SVM/news/7159713507477962/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine

Publisher: tmx

Original announcement: 2026-06-23T21:05:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Silvercorp Metals Inc.

- Ticker: SVM

- Exchange: TSX

- Region: Guangdong Province, China

- Primary commodity: Silver

- Secondary commodities: Lead, Zinc

- Document categories: Resource update

- Extracted: 2026-09-13 02:38:43 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Silvercorp Metals Inc. has reported an updated Mineral Reserve and Resource estimate for its GC Mine in Guangdong Province, China, effective December 31, 2025. The update shows a 59% increase in Measured and Indicated resource tonnes and a 25% increase in Proven and Probable reserve tonnes compared to the 2024 Technical Report. While contained metal increased for M&I resources, it decreased for P+P reserves and Inferred resources, and average grades declined across all categories.

Reasoning: The updated technical report for the GC Mine shows a substantial increase in higher-confidence Measured and Indicated resources \(59% tonnage, 23-25% contained metal\) and Proven and Probable reserves \(25% tonnage\), indicating significant growth and de-risking. However, this growth is accompanied by a decrease in average grades across all categories and a reduction in contained metal for reserves and inferred resources.

- Positive factor: Significant increase in Measured and Indicated resource tonnage and contained metal

- Positive factor: Significant increase in Proven and Probable reserve tonnage

- Positive factor: NI 43-101 compliant and QP signed off

- Positive factor: Detailed cut-off grade and metal equivalent assumptions disclosed

- Negative factor: Decrease in average grades across all resource and reserve categories

- Negative factor: Decrease in contained metal for Proven and Probable reserves and Inferred resources

- Negative factor: Decrease in Inferred resource tonnage

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 21

## Classification and evidence

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: The document reports 8.97 Mt of Measured resources for silver, lead, and zinc, indicating the highest level of geological confidence.

Evidence · table

> Measured

Context: 8.97

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The document reports 9.30 Mt of Indicated resources for silver, lead, and zinc, showing reasonable geological confidence.

Evidence · table

> Indicated

Context: 9.30

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: The document reports 3.57 Mt of Proven reserves for silver, lead, and zinc, representing the highest confidence category for economic viability.

Evidence · table

> Proven

Context: 3.57

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: The document reports 2.62 Mt of Probable reserves for silver, lead, and zinc, indicating a high level of confidence in economic viability.

Evidence · table

> Probable

Context: 2.62

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: Measured and Indicated resource tonnes increased by 59% and Proven and Probable Mineral Reserves tonnes increased by 25% compared to the prior estimate.

Evidence · text

> Measured and Indicated Resource tonnes have increased by 59%

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Contained metal in the Measured and Indicated categories increased by 23% for Ag, 24% for Pb, and 25% for Zn.

Evidence · text

> contained metal has increased by 23% for Ag, 24% for Pb and 25% for Zn

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The technical report was prepared by independent Qualified Persons, Ms. Yanfang Zhao and Falong Hu, and reviewed by Guoliang Ma, all of whom are members of recognized professional associations.

Evidence · text

> Ms. Yanfang Zhao, MAIG, MAusIMM, of SRK Consulting \(China\) Ltd., who takes responsibility for these estimates.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The technical report was prepared in accordance with National Instrument 43-101.

Evidence · text

> prepared in accordance with National Instrument 43-101

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Cut-off grades for resources \(80 g/t AgEq\) and reserves \(100 g/t AgEq and 130 g/t AgEq\) are clearly stated, along with the AgEq formula and price assumptions.

Evidence · text

> Mineral Resource are reported at a cut-off grade of 80 g/t AgEq.

**Grade Decline**

Polarity: negative

Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: Measured and Indicated grades decreased by 23% for Ag, 23% for Pb, and 21% for Zn. Proven and Probable grades decreased by 22% for Ag, 25% for Pb, and 22% for Zn.

Evidence · text

> Measured and Indicated grades decreasing by 23%, 23% and 21% for Ag, Pb and Zn, respectively.

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: Contained metal in the Inferred category decreased by 32% for Ag, 47% for Pb, and 40% for Zn. Total GC Mineral Reserve metal content decreased by 4% for Ag, 7% for Pb, and 2% for Zn.

Evidence · text

> contained metal has decreased by 32% for Ag, 47% for Pb and 40% for Zn.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: Inferred Resource tonnes have decreased by 23%, and contained metal has decreased by 32% for Ag, 47% for Pb and 40% for Zn, indicating a reduction in the less confident category.

Evidence · text

> Estimated Inferred Resources of 7.36 Mt grading 75 g/t Ag, 0.84% Pb, and 1.91% Zn, containing 17.7 Moz Ag, 62 Kt Pb, and 140 Kt Zn.

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document reports an updated Mineral Reserve and Mineral Resource estimate, revising previous figures from the 2024 Technical Report.

Evidence · text

> SILVERCORP REPORTS UPDATED MINERAL RESERVES AND RESOURCES AT THE GC MINE

## Extracted facts

Stored fact records: 21. Some facts used in scoring do not have a stored record.

## Resource Estimates (21)

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-0)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7083ff9d05982bbb6cd4
- Mining method: underground

#### Resource Data

- Category: measured
- Tonnes: 8970000
- Grade: 66
- Grade Unit: g/t
- Contained Metal: 19091
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured silver resource shows a high grade and significant contained metal, contributing to the overall resource growth and confidence.

- Positive factor: High confidence Measured category

- Positive factor: Significant contained metal

Evidence · table

> 66

Context: 8.97

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-1)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7083ff9d05982bbb6cd4
- Mining method: underground

#### Resource Data

- Category: measured
- Tonnes: 8970000
- Grade: 91
- Grade Unit: kt
- Contained Metal: 91
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured lead resource provides a valuable byproduct credit with a good grade and contained metal, adding to the project's overall economics.

- Positive factor: High confidence Measured category

- Positive factor: Significant contained metal

Evidence · table

> 91

Context: 8.97

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-2)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7083ff9d05982bbb6cd4
- Mining method: underground

#### Resource Data

- Category: measured
- Tonnes: 8970000
- Grade: 219
- Grade Unit: kt
- Contained Metal: 219
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured zinc resource contributes significantly to the project's value as a byproduct, with a good grade and substantial contained metal.

- Positive factor: High confidence Measured category

- Positive factor: Significant contained metal

Evidence · table

> 219

Context: 8.97

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-3)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7f2e9cbbb13f79168b8b
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 9300000
- Grade: 64
- Grade Unit: g/t
- Contained Metal: 19180
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Indicated silver resource adds substantial high-confidence material to the project, with a strong grade and contained metal.

- Positive factor: High confidence Indicated category

- Positive factor: Significant contained metal

Evidence · table

> 64

Context: 9.30

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-4)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7f2e9cbbb13f79168b8b
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 9300000
- Grade: 76
- Grade Unit: kt
- Contained Metal: 76
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Indicated lead resource provides a valuable byproduct, contributing to the overall project economics with good contained metal.

- Positive factor: High confidence Indicated category

- Positive factor: Significant contained metal

Evidence · table

> 76

Context: 9.30

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-5)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:7f2e9cbbb13f79168b8b
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 9300000
- Grade: 190
- Grade Unit: kt
- Contained Metal: 190
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Indicated zinc resource is a significant byproduct, adding to the project's value with good contained metal.

- Positive factor: High confidence Indicated category

- Positive factor: Significant contained metal

Evidence · table

> 190

Context: 9.30

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-6)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:0f88ee7716bfb28ce1aa
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 18280000
- Grade: 65
- Grade Unit: g/t
- Contained Metal: 38271
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 11497000
- Prior Grade: 84.416
- Prior Contained Metal: 31115

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured+Indicated silver resource shows substantial growth in tonnage and contained metal, significantly de-risking the project, despite a decrease in average grade.

- Positive factor: Significant tonnage growth \(59%\) in M&I category

- Positive factor: Significant contained metal growth \(23%\) in M&I category

- Positive factor: High confidence M&I category

- Negative factor: Grade decline \(23%\) in M&I category

Evidence · table

> 65

Context: 18.28

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 18280000 against 11497000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 65 against 84.416 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 38271 against 31115 previously

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-7)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:0f88ee7716bfb28ce1aa
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 18280000
- Grade: 167
- Grade Unit: kt
- Contained Metal: 167
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 11497000
- Prior Grade: 1.181
- Prior Contained Metal: 134.677

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured+Indicated lead resource shows substantial growth in tonnage and contained metal, enhancing the project's byproduct value, despite a decrease in average grade.

- Positive factor: Significant tonnage growth \(59%\) in M&I category

- Positive factor: Significant contained metal growth \(24%\) in M&I category

- Positive factor: High confidence M&I category

- Negative factor: Grade decline \(23%\) in M&I category

Evidence · table

> 167

Context: 18.28

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 18280000 against 11497000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 167 against 1.181 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 167 against 134.677 previously

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-8)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:0f88ee7716bfb28ce1aa
- Mining method: underground

#### Resource Data

- Category: indicated
- Tonnes: 18280000
- Grade: 408
- Grade Unit: kt
- Contained Metal: 408
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 11497000
- Prior Grade: 2.835
- Prior Contained Metal: 326.4

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Measured+Indicated zinc resource shows substantial growth in tonnage and contained metal, enhancing the project's byproduct value, despite a decrease in average grade.

- Positive factor: Significant tonnage growth \(59%\) in M&I category

- Positive factor: Significant contained metal growth \(25%\) in M&I category

- Positive factor: High confidence M&I category

- Negative factor: Grade decline \(21%\) in M&I category

Evidence · table

> 408

Context: 18.28

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 18280000 against 11497000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 408 against 2.835 previously

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 408 against 326.4 previously

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-9)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:9b0d4f18dbf2048bb0bf
- Mining method: underground

#### Resource Data

- Category: inferred
- Tonnes: 7360000
- Grade: 75
- Grade Unit: g/t
- Contained Metal: 17729
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 9558000
- Prior Grade: 85.227
- Prior Contained Metal: 26072

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Inferred silver resource shows a significant decrease in tonnage, grade, and contained metal, indicating a reduction in the speculative potential of the project.

- Negative factor: Tonnage decline \(23%\) in Inferred category

- Negative factor: Contained metal decline \(32%\) in Inferred category

- Negative factor: Grade decline \(12%\) in Inferred category

Evidence · table

> 75

Context: 7.36

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Decline**

Polarity: negative

Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.

Why it applies: 7360000 against 9558000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 75 against 85.227 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 17729 against 26072 previously

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-10)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:9b0d4f18dbf2048bb0bf
- Mining method: underground

#### Resource Data

- Category: inferred
- Tonnes: 7360000
- Grade: 62
- Grade Unit: kt
- Contained Metal: 62
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 9558000
- Prior Grade: 1.235
- Prior Contained Metal: 116.981

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Inferred lead resource shows a substantial decrease in tonnage, grade, and contained metal, reducing the overall speculative potential for this byproduct.

- Negative factor: Tonnage decline \(23%\) in Inferred category

- Negative factor: Contained metal decline \(47%\) in Inferred category

- Negative factor: Grade decline \(32%\) in Inferred category

Evidence · table

> 62

Context: 7.36

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Decline**

Polarity: negative

Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.

Why it applies: 7360000 against 9558000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 62 against 1.235 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 62 against 116.981 previously

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-11)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:9b0d4f18dbf2048bb0bf
- Mining method: underground

#### Resource Data

- Category: inferred
- Tonnes: 7360000
- Grade: 140
- Grade Unit: kt
- Contained Metal: 140
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 9558000
- Prior Grade: 2.449
- Prior Contained Metal: 233.333

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Inferred zinc resource shows a substantial decrease in tonnage, grade, and contained metal, reducing the overall speculative potential for this byproduct.

- Negative factor: Tonnage decline \(23%\) in Inferred category

- Negative factor: Contained metal decline \(40%\) in Inferred category

- Negative factor: Grade decline \(22%\) in Inferred category

Evidence · table

> 140

Context: 7.36

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Decline**

Polarity: negative

Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.

Why it applies: 7360000 against 9558000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 140 against 2.449 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 140 against 233.333 previously

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-12)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:159e0cfc44b6b85f5025
- Mining method: underground

#### Resource Data

- Category: proven
- Tonnes: 3570000
- Grade: 59
- Grade Unit: g/t
- Contained Metal: 6789
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven silver reserve represents a high-confidence, economically viable portion of the resource, contributing significantly to the project's life of mine.

- Positive factor: Highest confidence Proven category

- Positive factor: Significant contained metal

Evidence · table

> 59

Context: 3.57

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-13)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:159e0cfc44b6b85f5025
- Mining method: underground

#### Resource Data

- Category: proven
- Tonnes: 3570000
- Grade: 34
- Grade Unit: kt
- Contained Metal: 34
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven lead reserve provides a high-confidence, economically viable byproduct, enhancing the overall project value.

- Positive factor: Highest confidence Proven category

- Positive factor: Valuable byproduct

Evidence · table

> 34

Context: 3.57

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-14)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:159e0cfc44b6b85f5025
- Mining method: underground

#### Resource Data

- Category: proven
- Tonnes: 3570000
- Grade: 81
- Grade Unit: kt
- Contained Metal: 81
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven zinc reserve provides a high-confidence, economically viable byproduct, enhancing the overall project value.

- Positive factor: Highest confidence Proven category

- Positive factor: Valuable byproduct

Evidence · table

> 81

Context: 3.57

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-15)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:22a8c5aed15b036c9e43
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 2620000
- Grade: 67
- Grade Unit: g/t
- Contained Metal: 5673
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Probable silver reserve adds significant economically viable material to the project, contributing to the life of mine.

- Positive factor: High confidence Probable category

- Positive factor: Significant contained metal

Evidence · table

> 67

Context: 2.62

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-16)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:22a8c5aed15b036c9e43
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 2620000
- Grade: 22
- Grade Unit: kt
- Contained Metal: 22
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Probable lead reserve provides an economically viable byproduct, contributing to the project's overall value.

- Positive factor: High confidence Probable category

- Positive factor: Valuable byproduct

Evidence · table

> 22

Context: 2.62

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-17)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:22a8c5aed15b036c9e43
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 2620000
- Grade: 57
- Grade Unit: kt
- Contained Metal: 57
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Probable zinc reserve provides an economically viable byproduct, contributing to the project's overall value.

- Positive factor: High confidence Probable category

- Positive factor: Valuable byproduct

Evidence · table

> 57

Context: 2.62

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-18)

GC Mine · silver

#### Identity

- Project: GC Mine
- Commodity: silver
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:b6b45460dd1ac6839477
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 6190000
- Grade: 63
- Grade Unit: g/t
- Contained Metal: 12462
- Contained Unit: koz
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 4952000
- Prior Grade: 80.769
- Prior Contained Metal: 12981

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven+Probable silver reserve shows significant tonnage growth, enhancing the project's mine life, but is offset by a notable decrease in grade and contained metal.

- Positive factor: Significant tonnage growth \(25%\) in P+P category

- Negative factor: Grade decline \(22%\) in P+P category

- Negative factor: Contained metal decline \(4%\) in P+P category

Evidence · table

> 63

Context: 6.19

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 6190000 against 4952000 previously

**Grade Decline**

Polarity: negative

Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 63 against 80.769 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 12462 against 12981 previously

**Dilutive Growth**

Polarity: negative

Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 12462 from 12981

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-19)

GC Mine · lead

#### Identity

- Project: GC Mine
- Commodity: lead
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:b6b45460dd1ac6839477
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 6190000
- Grade: 56
- Grade Unit: kt
- Contained Metal: 56
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 4952000
- Prior Grade: 1.213
- Prior Contained Metal: 60.215

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven+Probable lead reserve shows significant tonnage growth, but this is largely offset by a notable decrease in grade and contained metal.

- Positive factor: Significant tonnage growth \(25%\) in P+P category

- Negative factor: Grade decline \(25%\) in P+P category

- Negative factor: Contained metal decline \(7%\) in P+P category

Evidence · table

> 56

Context: 6.19

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 6190000 against 4952000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 56 against 1.213 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 56 against 60.215 previously

**Dilutive Growth**

Polarity: negative

Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 56 from 60.215

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/silvercorp-reports-updated-mineral-reserves-and-resources-at-the-gc-mine--33a23f2e-dac5-4cf4-8b3d-ece0fb42de90#fact-resource-facts-20)

GC Mine · zinc

#### Identity

- Project: GC Mine
- Commodity: zinc
- Region: china
- Reported Region: Guangdong Province, China
- Ticker: SVM

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id: resource:b6b45460dd1ac6839477
- Mining method: underground

#### Resource Data

- Category: probable
- Tonnes: 6190000
- Grade: 138
- Grade Unit: kt
- Contained Metal: 138
- Contained Unit: kt
- Cutoff Grade: 80
- Cutoff Unit: g/t AgEq

#### Prior Estimate

- Resource Date: 2025-12-31
- Prior Tonnes: 4952000
- Prior Grade: 2.859
- Prior Contained Metal: 140.816

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: The Proven+Probable zinc reserve shows significant tonnage growth, but this is largely offset by a notable decrease in grade and contained metal.

- Positive factor: Significant tonnage growth \(25%\) in P+P category

- Negative factor: Grade decline \(22%\) in P+P category

- Negative factor: Contained metal decline \(2%\) in P+P category

Evidence · table

> 138

Context: 6.19

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**Tonnage Growth**

Polarity: positive

Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 6190000 against 4952000 previously

**Grade Improvement**

Polarity: positive

Definition: Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 138 against 2.859 previously

**Contained Metal Decline**

Polarity: negative

Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 138 against 140.816 previously

**Dilutive Growth**

Polarity: negative

Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 138 from 140.816

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.