Silver Tiger Metals drilling underground at El Tigre Project, Mexico
Silver Tiger Metals Inc. [TSXV: SLVR; OTCQX: SLVTF] has begun its underground drilling campaign targeting the veins, the sulphide zone and the shale zone on its 100%-owned El Tigre silver-gold project located in Sonora, Mexico.
Glenn Jessome, president and CEO, stated: “After the release of our robust PFS [prefeasibility study] on the near-surface, low-capex [capital expenditure] open-pit portion of the El Tigre project, our next goal will be to complete a PEA [preliminary economic assessment] on the underground component of the project in the first half of 2025.
“Our current underground drilling program is targeting the veins, the sulphide zone and the shale zone from our 400-metre-long rehabilitated haulage way. The new drill holes will provide new assay, geotechnical, metallurgical and geological information for the mineral resource blocks near the completed haulage way close to first development.”
The El Tigre project underground drilling campaign is targeting the veins, the sulphide zone and the shale zone located as close as 40 metres to the pre-existing haulage way. These high-grade zones, especially the historically mined veins with results up to 86.5 kg/tonne silver equivalent, form a crucial component of the UG PEA.
The drill rig and geological team are mobilized, and drilling has begun in a 5,000-metre array. Role Drilling of Hermosillo has been contracted for drilling HQ-oriented drill holes ranging in depth from 100 to 300 metres, offering a significant cost savings over drilling from surface. Assays are expected before the end of 2024.
The corporation will also continue to work on this substantial, permitted underground mineral resource estimate and advance this toward a preliminary economic assessment by the first half of 2025.
Exploration potential at the El Tigre project is substantial with prospective areas for exploration both down dip and along strike, with the disclosed exploration target establishing 10 million to 12 million tonnes at 225 to 265 grams per tonne silver equivalent for 73 million to 100 million ounces AgEq.
Silver Tiger Metals has more than 25 years of experience in discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger’s 100%-owned, 28,414-hectare El Tigre mining district is located in Sonora, Mexico.