Silvercorp Metals Inc. T.SVM

New Resource Estimate looks spectacular!

[in4longrun]

This last sentence sums it all up:
"...compared to last resource estimates released in the 2010 technical report, the Inferred in situ metal resource estimates increased by almost 60% for silver, 53% for lead, and 94% for zinc."


PRESS RELEASE
July 6, 2011, 7:00 a.m. EDT
Silvercorp Reports Resources Estimate on the Silvertip Silver-Lead-Zinc Property in British Columbia, Canada

VANCOUVER, BRITISH COLUMBIA, Jul 06, 2011 (MARKETWIRE via COMTEX) -- Silvercorp Metals Inc.CA:SVM+6.30%SVM+11.77% (the "Company") is pleased to report the results of a Technical Report updating the resources at its Silvertip silver-lead-zinc project in British Columbia, Canada. The National Instrument ("NI") 43-101 Technical Report dated June 15, 2011 (the "Resource Report") was prepared by Randal Cullen, P. Geo. (Qualified Person). The Resource Report is available for review on the SEDAR system and on the Company's website at www.silvercorp.ca .
Resource Estimate Result
This 2011 resource update is based on a total of 10,913 meters (m) in 36 diamond drill holes completed by the Company in fall 2010 (see News Release of December 15, 2010).
The base case resource for 2011 is estimated for resources greater than 200 grams per tonne (g/t) silver (Ag) equivalent. The update estimates an Indicated resource of 4.17 million tonnes grading 261 g/t Ag, 4.87% lead (Pb), and 8.50% zinc (Zn), containing in situ 35 million ounces of silver, 203,050 tonnes of lead, and 354,327 tonnes of zinc. In addition, the mineral resource in the Inferred category includes 0.91 million tonnes grading 278 g/t Ag, 4.80% Pb, and 9.60% Zn with in situ metal resources of 8.1 million ounces of silver, 43,358 tonnes of lead, and 87,406 tonnes of zinc.

At 200 g/t Ag equivalent cut-off grades, the Indicated in situ metal resource estimates from the 2011 resource update increased by almost 32% for silver, 28% for lead, and 60% for zinc, compared to last resource estimates released in the 2010 technical report, while the Inferred in situ metal resource estimates increased by almost 60% for silver, 53% for lead, and 94% for zinc.