Silvercorp Metals Inc. Reports Progress on El Domo Project Amid Market Recovery

Silvercorp Metals Inc. (TSX: SVM), a Vancouver‑based metals and mining company, announced a project update for its El Domo exploration site in northern Mexico on February 4, 2026. The company said that drilling operations at El Domo are proceeding as scheduled and that preliminary results indicate a continued potential for significant silver and copper resources. The update comes as the company’s stock has recently rebounded, rising approximately five percent after a sharp market correction earlier in the week.

El Domo Project Update

  • Drilling Status – Silvercorp confirmed that the current drilling phase at El Domo remains on track. No operational disruptions or safety incidents were reported.
  • Resource Potential – While the company did not disclose new resource estimates, it reiterated that prior assay data support the presence of economically viable silver and copper deposits. The update aims to bolster investor confidence in the project’s long‑term viability.
  • Next Steps – The company plans to conduct additional drilling and geophysical surveys over the coming months to refine resource estimates and support a future feasibility study.

Market Context

Silvercorp’s share price closed at CAD 14.63 on February 2, 2026, after reaching a 52‑week high of CAD 19.09 on January 25. The stock’s recent five‑percent gain follows a broader rally in the materials sector, as noted in a February 3 market recap that highlighted higher precious‑metal prices and a strengthening TSX materials index. Silvercorp’s market capitalisation stands at CAD 2.985 billion, and its price‑to‑earnings ratio is 114.3.

Company Overview

Silvercorp Metals Inc. specializes in acquiring, exploring, and developing mineral properties in China and Mexico. Its flagship project, the Ying Silver project in the People’s Republic of China, remains a key focus for the company. El Domo represents a significant expansion of Silvercorp’s portfolio outside China, diversifying its exposure to North American mineral exploration opportunities.

The latest update on El Domo underscores Silvercorp’s commitment to advancing its exploration pipeline while navigating a volatile market environment. Investors will be watching for forthcoming resource estimates and the company’s next‑phase drilling results as indicators of the project’s commercial potential.