Silvercorp Metals Inc. (TSX:SVM) (NYSE American: SVM) reports production and sales figures for the third quarter of Fiscal 2021 ended December 31, 2020.  The Company produced approximately 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc, and sold approximately 1.6 million ounces of silver, 800 ounces of gold, 16.8 million pounds of lead, and 9.0 million pounds of zinc in Q3 Fiscal 2021.  For the first nine months of Fiscal 2021, the Company produced approximately 5.1 million ounces of silver, 3,200 ounces of gold, 56.3 million pounds of lead, and 23.3 million pounds of zinc.

The Company is on track to produce between 6.2 – 6.5 million ounces of silver, 66.1 – 68.5 million pounds of lead, and 24.5 – 26.7 million pounds of zinc in Fiscal 2021, in line with the annual production guidance previously reported in the Company’s news release dated February 6, 2020.  The Company will report its unaudited financial and operating results for Q3 Fiscal 2021, expected to be released on Thursday, February 4, 2021 after market close.

Q3 FISCAL 2021 OPERATING HIGHLIGHTS

• At the Ying Mining District, the Company mined 182,268 tonnes of ore, a 3% increase compared to the third quarter of Fiscal 2020, and milled 162,905 tonnes of ore, down 7% over Q3 Fiscal 2020.  This decrease was caused by power rationing in December 2020 as the local government is subject to an annual environmental emissions KPI assessment.  Approximately 1.5 million ounces of silver, 900 ounces of gold, 14.4 million pounds of lead, and 1.9 million pounds of zinc were produced, representing a 7% increase in gold production, and decreases of 6% in silver, 13% in lead, and 25% in zinc production compared to Q3 Fiscal 2020.
• At the GC Mine, the Company mined 97,177 tonnes of ore, a 12% increase over Q3 Fiscal 2020, and milled 97,743 tonnes of ore, a 9% increase over Q3 Fiscal 2020.  Approximately 212 thousand ounces of silver, 2.8 million pounds of lead, and 6.8 million pounds of zinc were produced, representing a 23% increase in zinc production, and decreases of 2% in silver and 21% in lead production compared to Q3 Fiscal 2020.
• On a consolidated basis, the Company mined 279,445 tonnes of ore, a 6% increase over Q3 Fiscal 2020, and milled 260,648 tonnes of ore, a decrease of 2% compared to Q3 Fiscal 2020.  Approximately 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc were produced, representing increases of 7% in gold and 8% in zinc production, and decreases of 6% in silver and 15% in lead production compared to Q3 Fiscal 2020.
• On a consolidated basis, the Company sold approximately 1.6 million ounces of silver, 800 ounces of gold, 16.8 million pounds of lead, and 9.0 million pounds of zinc, representing increases of 14% in gold and 7% in zinc sold, and decreases of 4% in silver and 11% in lead sold compared to Q3 Fiscal 2020.

The operational results for Q3 Fiscal 2021 are summarized as follows:

The operational results for the first nine months of Fiscal 2021 are summarized as follows:

Ying Mining District

In Q3 Fiscal 2021, ore mined at the Ying Mining District was 182,268 tonnes, an increase of 3% compared to 176,149 tonnes in Q3 Fiscal 2020.  Ore milled was 162,905 tonnes, with average head grades of 297 grams per tonne for silver, 4.3% for lead, and 0.8% for zinc, compared to 175,488 tonnes of ore milled with average head grades of 296 g/t for silver, 4.6% for lead, and 0.9% for zinc in Q3 Fiscal 2020.  The decrease in ore milled during the quarter was caused by the milling operations being temporarily suspended for seven days due to power rationing.  The Company expects to process the unmilled ores in Q4 Fiscal 2021.  Metals production at the Ying Mining District in Q3 Fiscal 2021 was approximately 1.5 million ounces of silver, 14.4 million pounds of lead, and 1.9 million pounds of zinc, compared to approximately 1.6 million ounces of silver, 16.5 million pounds of lead, and 2.5 million pounds of zinc produced in Q3 Fiscal 2020.

For the first nine months of Fiscal 2021, metals production at the Ying Mining District was approximately 4.5 million ounces of silver, 47.4 million pounds of lead, and 5.4 million pounds of zinc, compared to approximately 4.9 million ounces of silver, 49.9 million pounds of lead, and 6.3 million pounds of zinc during the same prior year period.  The Ying Mining District is on track to achieve its annual guidance to produce 5.6 – 5.8 million ounces of silver, 56.6 – 58.0 million pounds of lead, and 7.0 – 8.0 million pounds of zinc in Fiscal 2021.

GC Mine

In Q3 Fiscal 2021, ore mined at the GC Mine was 97,177 tonnes, an increase of 12% compared to 86,437 tonnes in Q3 Fiscal 2020.  Ore milled was 97,743 tonnes, with average head grades of 82 g/t for silver, 1.4% for lead, and 3.5% for zinc, compared to 89,372 tonnes of ore milled with average head grades of 96 g/t for silver, 2.0% for lead, and 3.3% for zinc in Q3 Fiscal 2020.  Metals production at the GC Mine in Q3 Fiscal 2021 was approximately 212 thousand ounces of silver, 2.8 million pounds of lead, and 6.8 million pounds of zinc, compared to approximately 216 thousand ounces of silver, 3.5 million pounds of lead, and 5.6 million pounds of zinc produced in Q3 Fiscal 2020.

For the first nine months of Fiscal 2021, metals production at the GC Mine was approximately 604 thousand ounces of silver, 8.9 million pounds of lead, and 17.9 million pounds of zinc, compared to approximately 617 thousand ounces of silver, 9.7 million pounds of lead, and 16.0 million pounds of zinc in the same prior year period.  The GC Mine is on track to achieve its annual guidance to produce 600 – 700 thousand ounces of silver, 9.5 – 10.5 million pounds of lead, and 17.5 – 18.7 million pounds of zinc in Fiscal 2021.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China.  The Company’s goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects.  Silvercorp balances profitability, social and environmental relationships, employees’ wellbeing, and sustainable development.