Project UpdateJun 22, 2026, 01:16 PM
Silvercorp Announces $196.3M Budget for Chaarat ZAAV Project
AI Summary
Silvercorp Metals Inc. announced a US$196.3 million budget for the development of its Chaarat ZAAV Project in the Kyrgyz Republic. The budget includes US$166.3 million for Phase 1 development of Tulkubash and US$30.0 million for initial expenditures on Phase 2 development of Kyzyltash. Silvercorp, as the operator, holds a 70% interest in ZAAV, which owns the fully-permitted gold projects. The company expects to publish an updated feasibility study for Tulkubash by July 2026.
Key Highlights
- Silvercorp announced a total budget of US$196.3 million for the Chaarat ZAAV Project.
- Forecast spending for 2026 is US$57 million, and for 2027 is US$139 million.
- Phase 1 development of Tulkubash is budgeted at US$166.3 million.
- Phase 2 development of Kyzyltash is budgeted at US$30.0 million for drilling and studies.
- Silvercorp holds a 70% interest in ZAAV, which operates the Tulkubash/Kyzyltash gold projects.
- Tulkubash Phase 1 will be a 4 million tonnes per year open-pit mine/heap leach operation.
- Kyzyltash Phase 2 includes 50,000-60,000 meters of drilling in 2026 and a PEA in 2027.
Price Impact
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