05:14 PM EDT, 08/27/2024 (MT Newswires) -- Silvercorp Metals ( SVM ) edged higher in after-hours New York trading after the company on Tuesday said an updated technical report for its GC mine in China raised its estimate for silver, lead and zinc resources.

The company said the report, updated from a 2021 study, showed the mine contains a measured and indicated resource of 11.5 million tonnes grading at 84 grams per tonne (g/t) silver, 1.18% lead and 2.85% zinc, totaling 31 million ounces of silver, 136 thousand tonnes lead, and 327 thousand tonnes zinc.

"In comparison with the 2021 Technical Report (Mineral Resources as of December 31, 2020 ), Measured and Indicated Resource tonnes have increased by 15%, and contained metal has increased by 18% for silver, 13% for lead and 16% for zinc," the company said.

Silvercorp shares were last seen up US$0.03 to US$3.85 after hours. They closed down $0.13 to $5.14 on the Toronto Stock Exchange.