Business
Silvercorp Metals Updates El Domo Development Plans and Staffing
VANCOUVER, BC, Aug. 21, 2024 /CNW/ - With the successful acquisition of Adventus Mining Corporation on July 31, 2024 and the receipt of the Change of Phase for
About this update from Silvercorp Metals Inc.
[{"type":"text","content":" VANCOUVER, BC, Aug. 21, 2024 /CNW/ - With the successful acquisition of Adventus Mining Corporation on July 31, 2024 and the receipt of the Change of Phase for the El Domo copper-gold project (the \"Project\") (see August 6, 2024 news release), Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM), its Ecuadorian subsidiary, Curimining S.A. (\"Curimining\"), and Salazar Resources Limited (TSXV: SRL) (OTCQB: SRLZF) (\"Salazar\", collectively with Silvercorp, and Curimining, the \"Companies\"), are pleased to report that the Companies have initiated the process for construction with a goal to bring the Project into production some time in 2026, as previously planned. Senior Mining Executives Added to the Team Silvercorp has recently hired Jaymes Dircks to be the General Manager of Curimining, to lead the construction of the Project. Jaymes specializes in mine construction and project management. Previously, he worked at B2Gold Corp. where he was the General Manager of B2Gold Nunavut. Prior to that, he was with Sabina Gold & Silver Corp. where he was the construction director of the Backriver Project in Nunavut, and Aldridge Minerals Inc. where he was the EPC director for the Yenipazar mine in Turkey. Jaymes has over 30 years of experience in all aspects of mining development, with a focus on on-site construction leadership. Jaymes will spend the preponderance of his time in Ecuador at the Project site. In addition to Jaymes, the Company has also hired a senior mining engineer with experience in building and operating large scale open pittable copper mines. Construction Preparation and Flowsheet Improvement The Company has also identified several priority and parallel projects, such as 1) further metallurgical test work to improve metal recoveries, 2) advancing the power supply for mine operation, as well as optimization and improvement of access infrastructure, 3) completing Detailed Engineering Design, including the improved operational efficiency of the process plant, mining pit optimization and construction planning based on the 2021 Feasibility Study1, and 4) reviewing and selecting suitable vendors, such as experienced mine, process plant and tailings storage facility builders, and processing equipment manufacturers for the mills. The me...