Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has approved 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 allocates 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. Forecast spending includes US$57.3 million in 2026 and US$139 million in 2027.
Phase 1 development at Tulkubash will encompass open-pit mining infrastructure, heap leach facilities, a crusher, an ADR plant, and supporting infrastructure. The company expects to publish an updated feasibility study for Tulkubash in July 2026. Phase 2 funding will support drilling and technical studies aimed at advancing Kyzyltash toward feasibility and construction. A 50,000- to 60,000-meter drilling program at Kyzyltash is planned this year to upgrade resources and expand the deposit.
This budget approval marks a critical step for Silvercorp as it seeks to unlock value from its Kyrgyz assets. The Tulkubash project, with its fully permitted status, offers a near-term production pathway, while Kyzyltash represents longer-term growth potential. The company’s focus on generating free cash flow from long-life mines and organic growth through extensive drilling aligns with its strategy to create shareholder value.
For more details, the full press release is available at https://nnw.fm/RTirNA. Additional information about Silvercorp can be found in the company’s newsroom at https://nnw.fm/SVM.
