Silver Tiger advances on Mexico drilling results
Silver Tiger Metals Inc. [SLVR-TSXV, SLVTF-OTCQX] has announced exploration results for the 2026 summer program on the Northern Area of its 100%-owned silver-gold El Tigre project in Sonora, Mexico.
Silver Tiger shares advance on the news, rising 5.55% or $0.06 to $1.14. The shares trade in a 52-week range of $1.42 and 63 cents.
“Our focus remains on construction of our heap leach mine at El Tigre with first gold pour to be in December, 2027,’’ said Silver Tiger President and CEO Glenn Jessome. “I am pleased to confirm we are on schedule for pouring that first dore bar.’’ Meanwhile, the company has announced drill results for the high-grade Northern Veins and the newly discovered Northern Stockwork Zone enveloping those veins, similar to the El Tigre leach mine located to the south. “The Northern Veins, specifically the epithermal Caleigh and Protectora Veins, are the faulted extensions of the well defined UG PEA [underground preliminary economic assessment] Southern Veins, with similar mineralogy, structure and rock type,’’ Jessome said. “These veins are only 700 metres north of where we are currently building our heap leach mine. The Northern Veins are open along strike and down dip in all directions.’’
Jessome added: “Recent results also highlight the presence of outcropping Stockwork Zone, extending the current exploration corridor as we continue to add both underground and stockwork heap leach targets to the corporation’s portfolio on this district-scale property.’’
New high-grade epithermal vein intersections of the Caleigh and Protectora Veins and the newly discovered Northern Stockwork Zone are highlighted below. They include hole ET-24-649, which returned 2.1 metres of grade 7,715.1 g/t silver equivalent (AgEq) or 102.87 g/t AgEq from 39.9 to 42.0 metres consisting of 35.39 g/t gold and 5,061.1 g/t silver. This includes 0.53 metres of grade 29,620.0 g/t AgEq or 394.93 g/t gold equivalent (AuEq) form 40.4 to 40.9 metres consisting of 136.20 g/t gold and 19,405 g/t silver. This hole shows the second highest assay result on the property and confirms the presence of high-grade on the Caleigh vein near-surface.
Earlier this year, the company announced the results of a preliminary economic assessment (PEA) for the underground and an updated pre-feasibility study (PFS) on the Stockwork Zone at El Tigre.
The PEA envisages a 15-year underground mine life with 3.0-year historical tailings processing, recovering 38 million payable silver equivalent (AgEq) ounces or 453,000 gold equivalent ounces (AuEq), consisting of 34 million ounces of silver and 130,000 ounces of gold.
Initial capital costs are pegged at $83.5 million, including $10.9 million contingency costs, over an expected 18-month build, and sustaining capital costs of $213 million over the life of the mine.
Average annual production is forecast at 2.3 million AgEq ounces of 27,800 AuEq ounces, consisting of 2.1 million silver ounces and 8,000 gold ounces.