SILVERCORP REPORTS UPDATED MINERAL RESERVES AND RESOURCES AT THE GC MINE
Original announcement by tmx on
- 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 02:38:03 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Silvercorp Metals Inc. has reported an updated Mineral Resource and Reserve 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, but with a general decrease in grades across all categories. While contained metal increased for M&I resources, it decreased for reserves and Inferred resources.
Reasoning: The updated resource and reserve estimate shows significant growth in Measured & Indicated resources and Proven & Probable reserves by tonnage, which is positive for project scale. However, this growth comes with a notable decrease in overall grades across all categories and a reduction in Inferred resources and contained metal for reserves, suggesting a trade-off between volume and grade. The estimate is NI 43-101 compliant and signed by QPs, providing high confidence.
Positive factors
- Tonnage Growth
- Category Upgrade
- Contained Metal Growth
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
- Inferred Resource
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 21
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: Measured and Indicated Resource tonnes have increased by 59% and Proven and Probable Mineral Reserves tonnes have increased by 25% compared to the prior estimate.
Evidence · text
“Measured and Indicated Resource tonnes have increased by 59%”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Contained metal for Ag, Pb, and Zn in the Measured and Indicated categories increased by 23%, 24%, and 25% respectively.
Evidence · text
“contained metal has increased by 23% for Ag, 24% for Pb and 25% for Zn.”
Grade Declinenegative
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. Inferred grades decreased by 12% for Ag, 32% for Pb, and 22% for Zn. Reserve 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 Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: Contained metal for Ag, Pb, and Zn in the Inferred category decreased by 32%, 47%, and 40% respectively. Contained metal for Ag, Pb, and Zn in the Proven and Probable reserves decreased by 4%, 7%, and 2% respectively.
Evidence · text
“The net result in the Inferred category has been a decrease in the contained Ag, Pb and Zn of 32%, 47%, and 40%, respectively.”
NI 43-101 Compliantpositive
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 ("NI 43-101")”
QP/CP Signedpositive
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 Mineral Resource and Reserve estimates were reviewed by independent Qualified Persons Ms. Yanfang Zhao, Falong Hu, and Guoliang Ma.
Evidence · text
“reviewed by independent Qualified Person, Ms. Yanfang Zhao, MAIG, MAusIMM, of SRK Consulting (China) Ltd., who takes responsibility for these estimates.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports 7.36 Mt of Inferred Resources, which is a speculative category with limited geological confidence.
Evidence · table
“7.36”
Context: Inferred
Resource Updateneutral
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 for the GC Mine.
Evidence · text
“SILVERCORP REPORTS UPDATED MINERAL RESERVES AND RESOURCES AT THE GC MINE”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade for Mineral Resources is reported as 80 g/t AgEq and for Mineral Reserves as 100 g/t AgEq and 130 g/t AgEq.
Evidence · text
“Mineral Resource are reported at a cut-off grade of 80 g/t AgEq.”
Extracted facts
Stored fact records: 21. Some facts used in scoring do not have a stored record.
Resource Estimates (21)
measuredGC Mine · silverTonnes: 8970000Grade: 66Grade Unit: g/tContained Metal: 19091Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:36fe2acd387a4c261b92
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Measured resource for silver represents a high-confidence estimate, contributing to the overall positive update for the project.
Positive factors
- Measured Resource
- QP/CP Signed
- NI 43-101 Compliant
Evidence · table
“66”
Context: 8.97
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredGC Mine · leadTonnes: 8970000Grade: 91Grade Unit: ktContained Metal: 91Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:36fe2acd387a4c261b92
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Measured resource for lead provides high-confidence tonnage and grade, contributing to the overall project economics.
Positive factors
- Measured Resource
- QP/CP Signed
- NI 43-101 Compliant
Evidence · table
“91”
Context: 8.97
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredGC Mine · zincTonnes: 8970000Grade: 219Grade Unit: ktContained Metal: 219Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:36fe2acd387a4c261b92
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Measured resource for zinc provides high-confidence tonnage and grade, contributing to the overall project economics.
Positive factors
- Measured Resource
- QP/CP Signed
- NI 43-101 Compliant
Evidence · table
“219”
Context: 8.97
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGC Mine · silverTonnes: 9300000Grade: 64Grade Unit: g/tContained Metal: 19180Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:ea4684838df64eb72fc4
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 11496000
- Prior Grade
- 84.416
- Prior Contained Metal
- 31115
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for silver shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase.
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“64”
Context: 9.30
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 9300000 against 11496000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 64 against 84.416 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 19180 against 31115 previously
indicatedGC Mine · leadTonnes: 9300000Grade: 76Grade Unit: ktContained Metal: 76Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:ea4684838df64eb72fc4
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 11496000
- Prior Grade
- 1.182
- Prior Contained Metal
- 134.677
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for lead shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase.
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“76”
Context: 9.30
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 9300000 against 11496000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 76 against 1.182 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 76 against 134.677 previously
indicatedGC Mine · zincTonnes: 9300000Grade: 190Grade Unit: ktContained Metal: 190Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:ea4684838df64eb72fc4
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 11496000
- Prior Grade
- 2.835
- Prior Contained Metal
- 326.4
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for zinc shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase.
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“190”
Context: 9.30
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 9300000 against 11496000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 190 against 2.835 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 190 against 326.4 previously
inferredGC Mine · silverTonnes: 7360000Grade: 75Grade Unit: g/tContained Metal: 17729Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:f743a39e515d2bc21635
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: The Inferred resource for silver shows a significant decrease in tonnes, grade, and contained metal compared to the prior estimate, which is a negative signal for future growth potential.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Inferred Resource
- Tonnage Decline
- Grade Decline
- Contained Metal Decline
Evidence · table
“75”
Context: 7.36
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 7360000 against 9558000 previously
Grade Declinenegative
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 Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 17729 against 26072 previously
inferredGC Mine · leadTonnes: 7360000Grade: 62Grade Unit: ktContained Metal: 62Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:f743a39e515d2bc21635
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: The Inferred resource for lead shows a significant decrease in tonnes, grade, and contained metal compared to the prior estimate, which is a negative signal for future growth potential.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Inferred Resource
- Tonnage Decline
- Grade Decline
- Contained Metal Decline
Evidence · table
“62”
Context: 7.36
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 7360000 against 9558000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 62 against 1.235 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 62 against 116.981 previously
inferredGC Mine · zincTonnes: 7360000Grade: 140Grade Unit: ktContained Metal: 140Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:f743a39e515d2bc21635
- Deposit or zone
- GC Mine
- 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
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: The Inferred resource for zinc shows a significant decrease in tonnes, grade, and contained metal compared to the prior estimate, which is a negative signal for future growth potential.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Inferred Resource
- Tonnage Decline
- Grade Decline
- Contained Metal Decline
Evidence · table
“140”
Context: 7.36
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 7360000 against 9558000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 140 against 2.449 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 140 against 233.333 previously
provenGC Mine · silverTonnes: 3570000Grade: 59Grade Unit: g/tContained Metal: 6789Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:433140114f45fa3436c8
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 80.769
- Prior Contained Metal
- 12981
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Proven reserve for silver contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Proven Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“59”
Context: 3.57
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 3570000 against 4952000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 59 against 80.769 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 6789 against 12981 previously
provenGC Mine · leadTonnes: 3570000Grade: 34Grade Unit: ktContained Metal: 34Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:433140114f45fa3436c8
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 1.213
- Prior Contained Metal
- 60.215
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Proven reserve for lead contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Proven Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“34”
Context: 3.57
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 3570000 against 4952000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 34 against 1.213 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 34 against 60.215 previously
provenGC Mine · zincTonnes: 3570000Grade: 81Grade Unit: ktContained Metal: 81Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:433140114f45fa3436c8
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 2.859
- Prior Contained Metal
- 140.816
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Proven reserve for zinc contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Proven Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“81”
Context: 3.57
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 3570000 against 4952000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 81 against 2.859 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 81 against 140.816 previously
probableGC Mine · silverTonnes: 2620000Grade: 67Grade Unit: g/tContained Metal: 5673Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:373a935a3e471d24d024
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 80.769
- Prior Contained Metal
- 12981
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for silver contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“67”
Context: 2.62
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 2620000 against 4952000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 67 against 80.769 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 5673 against 12981 previously
probableGC Mine · leadTonnes: 2620000Grade: 22Grade Unit: ktContained Metal: 22Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:373a935a3e471d24d024
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 1.213
- Prior Contained Metal
- 60.215
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for lead contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“22”
Context: 2.62
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 2620000 against 4952000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 22 against 1.213 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 22 against 60.215 previously
probableGC Mine · zincTonnes: 2620000Grade: 57Grade Unit: ktContained Metal: 57Contained Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:373a935a3e471d24d024
- Deposit or zone
- GC Mine
- 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
- Prior Tonnes
- 4952000
- Prior Grade
- 2.859
- Prior Contained Metal
- 140.816
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for zinc contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate.
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“57”
Context: 2.62
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 2620000 against 4952000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 57 against 2.859 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 57 against 140.816 previously
indicatedGC Mine · silverTonnes: 18280000Grade: 65Grade Unit: g/tContained Metal: 38271Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:45eda4a101417cdb7ded
- Deposit or zone
- GC Mine
- 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
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for silver shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“65”
Context: 18.28
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedGC Mine · leadTonnes: 18280000Grade: 167Grade Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:45eda4a101417cdb7ded
- Deposit or zone
- GC Mine
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 18280000
- Grade
- 167
- Grade Unit
- kt
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for silver shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“167”
Context: 18.28
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedGC Mine · zincTonnes: 18280000Grade: 408Grade Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:45eda4a101417cdb7ded
- Deposit or zone
- GC Mine
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 18280000
- Grade
- 408
- Grade Unit
- kt
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Indicated resource for silver shows a decrease in grade compared to the prior estimate, but contributes to the overall M&I tonnage increase. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
Evidence · table
“408”
Context: 18.28
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probableGC Mine · silverTonnes: 6190000Grade: 63Grade Unit: g/tContained Metal: 12462Contained Unit: kozView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- silver
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:4669e6e0de2855bbad89
- Deposit or zone
- GC Mine
- 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
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for silver contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“63”
Context: 6.19
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableGC Mine · leadTonnes: 6190000Grade: 56Grade Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- lead
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:4669e6e0de2855bbad89
- Deposit or zone
- GC Mine
- Mining method
- underground
Resource Data
- Category
- probable
- Tonnes
- 6190000
- Grade
- 56
- Grade Unit
- kt
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for silver contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“56”
Context: 6.19
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probableGC Mine · zincTonnes: 6190000Grade: 138Grade Unit: ktView all detailsHide details
Identity
- Project
- GC Mine
- Commodity
- zinc
- Region
- china
- Reported Region
- Guangdong Province, China
- Ticker
- SVM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ms. Yanfang Zhao, Falong Hu, Guoliang Ma
- Resource group id
- resource:4669e6e0de2855bbad89
- Deposit or zone
- GC Mine
- Mining method
- underground
Resource Data
- Category
- probable
- Tonnes
- 6190000
- Grade
- 138
- Grade Unit
- kt
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 100
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: This Probable reserve for silver contributes to the overall reserve base, but shows a decrease in grade and contained metal compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve
- QP/CP Signed
- NI 43-101 Compliant
Negative factors
- Grade Decline
- Contained Metal Decline
Evidence · table
“138”
Context: 6.19
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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.