Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) announced approval of a US$196.3 million budget for Chaarat ZAAV CJSC, its 70%-owned joint venture in the Kyrgyz Republic, to advance development of the Tulkubash and Kyzyltash gold projects. The budget includes US$166.3 million for Phase 1 development of the fully permitted Tulkubash open-pit heap leach operation and US$30 million for Phase 2 activities at the Kyzyltash sulfide deposit, with forecast spending of US$57.3 million in 2026 and US$139 million in 2027.
Phase 1 development will include open-pit mining infrastructure, heap leach facilities, a crusher, ADR plant and supporting infrastructure, while Phase 2 funding will support drilling and technical studies aimed at advancing Kyzyltash toward feasibility and construction. The company expects to publish an updated feasibility study for Tulkubash in July 2026 and plans a 50,000- to 60,000-meter drilling program at Kyzyltash this year to upgrade resources and expand the deposit.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The company’s strategy is to create shareholder value by focusing on generating free cash flow from long-life mines, organic growth through extensive drilling, ongoing merger and acquisition efforts, and long-term commitment to responsible mining and ESG.
This significant budget approval signals Silvercorp’s commitment to advancing its Kyrgyz projects, which could bolster its production profile and provide new sources of revenue. For the industry, the development of the Tulkubash and Kyzyltash projects may contribute to increased gold supply from the region, while for investors, the projects represent potential upside as they move toward production. The updated feasibility study and drilling results will be key milestones to watch.
More information about Silvercorp Metals can be found at the company’s newsroom at https://nnw.fm/SVM. The full press release is available at https://nnw.fm/RTirNA.
