Confident More High-Grade Discoveries To Be Made At El Tigre
Silver Tiger Metals Inc. (TSXV:SLVR) has made a new discovery of high-grade silver and gold mineralisation including 3.0m of 1,310 g/t AgEq on the newly discovered Benjamin Vein approximately 900 meters north of the historic El Tigre mine workings in Mexico.
Highlights from the first three drill holes on Section 6125N testing the newly discovered Benjamin Vein include:
● Hole ET-20-193: 3.0M grading 1,310.1 g/t AgEq from 116.5M to 119.5M, consisting of 1,303.2 g/t Ag and 0.09 g/t Au, within 5.5M grading 732 g/t AgEq, consisting of 726.1 g/t Ag and 0.08 g/t Au
● Hole ET-20-195: 0.5M grading 634 g/t AgEq from 170.5M to 171m consisting of 625 g/t Ag and 0.12 g/t Au
● Hole ET-20-189: 0.5m grading 483.9 g/t AgEq from 77.5m to 78m consisting of 474 g/t Ag and 0.13 g/t Au
“Our drilling programme last fall was focused on testing the northern extensions of the rich silver and gold veins that produced over 100 million silver equivalent ounces at an average grade of over two kilograms silver equivalent per ton between 1908 and 1930 (Craig 2012) from the historic El Tigre Mine,” Glenn Jessome, President and CEO of Silver Tiger, said.
“Intersecting this wide zone of high-grade precious metals in the newly discovered Benjamin Vein with the first three holes ever drilled in it is very encouraging.
“We will be aggressively following up on this discovery as we resumed drilling last week post-Christmas shutdown.
“I am confident this will be the first of many new discoveries in the Historic El Tigre District.”
After acquiring El Tigre, Silver Tiger drilled 12,500m to define the wide halo of near surface gold mineralisation around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger to deliver a maiden resource estimate for the El Tigre Property to a depth of 150m containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold).
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with much of the production coming from the El Tigre vein.
Underground mining on the El Tigre vein extended 1,450m along strike and was mined on 14 levels to a depth of 450m. By the time the mine closed in 1938, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons. The average grade mined during this period was over tow kilograms silver equivalent per ton.
Silver Tiger’s district scale El Tigre concessions are approximately 35 km long and comprise 28,414 hectares, including 25 km of the prolific Sierra Madre trend.
Silver Tiger’s limited drilling in vein extensions located north of the historic El Tigre Mine intersected similar-style silver-gold mineralisation in the El Tigre formation including a new discovery in the Caleigh Vein.