Silvercorp to Buy Silver-Lead-Zinc Project for C$15 mln

Silvercorp said up to 50 percent of the total consideration for the project will be paid in common shares and the rest in cash.

The acquisition is expected to close on or before Feb. 26.

The company said it plans to perform additional mineralogy study and a metallurgical test program on the project to further increase metal recoveries.

Results from a test conducted a few years ago showed that, with a lead concentrate grade of 65 percent, silver and lead recoveries are 69.2 percent and 80.4 percent, respectively.

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