Silver Tiger Metals drills 875.6 g/t AgEq over 16 metres at El Tigre, Mexico

Silver Tiger Metals Inc. [TSXV-SLVR; OTCQX-SLVTF] provided an update on the first 95 drill holes for the company’s continuing prefeasibility study (PFS) drilling program on the stockwork deposit on its El Tigre project in Sonora, Mexico. These new results are highlighting the high-grade mineralization beneath the floor of the 2023 PEA (preliminary economic assessment) open pit in the Keel zone and expansion of the PEA starter pit to the north.

Drill hole ET-24-568 cut 16.0 metres grading 875.6 g/t silver equivalent (AgEq), or 11.67 g/t gold equivalent (AuEq), from 155.0 to 171.0 metres, consisting of 409.9 g/t silver and 6.21 g/t gold, and including 1.0 metre grading 12,851.5 g/t AgEq, or 171.35 g/t AuEq, from 161.0 to 162.0 metres, consisting of 6,034.0 g/t silver and 90.90 g/t gold, in the Keel zone. The hole passed through the El Tigre vein, located approximately 15 m beneath the floor of the PEA open pit and referred to as the Keel zone.

New intersections through the stockwork deposit, comprising the footwall, hangingwall and high-grade Keel zones, are highlighted here.

Drill hole ET-24-570 returned 59.3 metres grading 1.92 g/t AuEq, or 144.1 g/t AgEq, from 100.3 to 159.6 metres, consisting of 1.63 g/t gold and 21.8 g/t silver, and 9.5 metres grading 1.32 g/t AuEq, or 99.2 g/t AgEq, from 173.5 to 183.0 metres, consisting of 1.32 g/t gold and 0.5 g/t silver. These intersections are located approximately 150 metres past the northern end of the 2023 PEA starter pit.

Drill hole ET-23-563 returned 45.0 metres grading 1.17 g/t AuEq, or 87.6 g/t AgEq, from 4.0 to 49.0 metres, consisting of 0.70 g/t gold and 35.0 g/t silver, including 15.0 metres grading 2.20 g/t AuEq, or 164.7 g/t AgEq, from 11.0 to 26.0 metres, consisting of 1.01 g/t gold and 89.0 g/t silver gold, in both the hangingwall and footwall zones.

Drill hole ET-23-552 returned 35.5 metres grading 0.92 g/t AuEq, or 68.7 g/t AgEq, from 107.0 to 142.5 metres, consisting of 0.83 g/t gold and 6.2 g/t silver, including 7.0 metres grading 1.68 g/t AuEq, or 126.3 g/t AgEq, from 135.5 to 142.5 metres, consisting of 1.66 g/t gold and 1.9 g/t silver, in the hangingwall zone.

Silver Tiger’s CEO, Glenn Jessome, stated: “As we continue receiving promising assay results, it is apparent that the developing starter pit and Keel zone show excellent grade and continuity. The results may increase the updated MRE [mineral resource estimate] associated with the PFS-level study, which we expect to deliver by September, 2024, which will also further derisk the project. We contemplate being able to make a build decision based on our upcoming PFS.”

Silver Tiger has completed 24,500 metres of a 25,000-metre drilling program focused on expanding the mineral resource, upgrading the classification, and completing metallurgical testwork and geotechnical studies as it progresses from an exploration to a development project. The value-added PFS progress is on schedule for publication in the second half of 2024.

Highlights from the continuing prefeasibility study drilling program include the following: expanding known mineralization by 10-15% to the footwall and hangingwall zones, as well as the higher-grade Keel at the PEA pit bottom associated with the El Tigre and SK veins; converting first two to three years of mineralized material in the potential starter stockwork zone from an indicated mineral resource to measured; converting a significant portion of the two-kilometre strike length ultimate PEA pit-constrained inferred mineral resource to indicated; completion of enhanced PFS metallurgical drilling, with samples under way for comminution and leach testing; and completion of enhanced PFS geotechnical drilling, with samples undergoing testing.

P&E Mining Consultants Inc. of Brampton, Ont., completed the initial MRE in 2017. On Oct 27, 2023, P&E released an updated El Tigre project NI 43-101-compliant MRE technical report. The MRE has a pit-constrained indicated mineral resource totalling 43 million tonnes containing 818,000 ounces AuEq grading 0.59 g/t AuEq, and a pit-constrained inferred mineral resource of 11.5 million tonnes containing 267,000 ounces AuEq grading 0.72 g/t AuEq.

PEA-level bench optimization of the pit-constrained mineral resource highlighted the higher-grade (approximately 0.8 g/t AuEq), low-strip-ratio (approximately 0.3) potential starter stockwork zone, which contains 5.7 million tonnes of mineralized material. Recommendations of the PEA-level study included increasing mineral resource confidence in the potential starter stockwork zone and additional exploratory drilling to target the footwall, hangingwall and Keel areas of the stockwork zone. P&E was again retained to lead the current El Tigre PFS-level study, with 24,500 metres of the program completed as of May 15, 2024. Complete and final assay results are listed in the original press release..

Highlights: Drill hole ET-23-563 confirms location and grade of the hangingwall zone, and down hole the footwall zone and high-grade SK vein. Drill hole ET-23-552 confirms location and grade of the hangingwall zone, and down hole expands the footwall zone 25 m to the east over the 2023 MRE.

Drill hole ET-24-568 expands depth and strike of Keel zone over the 2023 MRE. Drill hole ET-24-570 — confirms location and grade of the hangingwall zone associated with the El Tigre vein.