Silver Tiger Announces Commencement of Underground Drilling on High-Grade Vein, Sulfide and Shale Zones and Expects To Deliver a PEA for the Underground in H1-2025
Silver Tiger Metals has commenced its underground drilling campaign at the El Tigre Project in Sonora, Mexico, targeting Veins, Sulfide Zone, and Shale Zone. The company plans to complete a Preliminary Economic Assessment (PEA) for the underground component in H1-2025. The 5,000-meter drilling program is being conducted from a 400-meter-long rehabilitated haulage-way, with assays expected before EOY 2024. The project shows significant exploration potential with an Exploration Target of 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq.
Silver Tiger Metals ha avviato la sua campagna di perforazione sotterranea presso il Progetto El Tigre in Sonora, Messico, concentrandosi su Veni, Zona di Solfuri e Zona di Scisto. L'azienda prevede di completare una Valutazione Economica Preliminare (PEA) per il componente sotterraneo nella prima metà del 2025. Il programma di perforazione di 5.000 metri viene condotto da un traverso riabilitato lungo 400 metri, con le analisi previste prima della fine del 2024. Il progetto mostra un significativo potenziale di esplorazione con un Obiettivo di Esplorazione di 10-12 milioni di tonnellate a 225-265 g/t AgEq per 73-100 Moz AgEq.
Silver Tiger Metals ha comenzado su campaña de perforación subterránea en el Proyecto El Tigre en Sonora, México, enfocándose en vetas, zona de sulfuros y zona de esquistos. La empresa planea completar una Evaluación Económica Preliminar (PEA) para el componente subterráneo en la primera mitad de 2025. El programa de perforación de 5,000 metros se está llevando a cabo desde un camino de transporte rehabilitado de 400 metros de longitud, con ensayos esperados antes de fin de año de 2024. El proyecto muestra un potencial de exploración significativo con un Objetivo de Exploración de 10 a 12 millones de toneladas a 225 a 265 g/t AgEq para 73 a 100 Moz AgEq.
Silver Tiger Metals는 멕시코 소노라에 위치한 El Tigre 프로젝트에서 광구 드릴링 캠페인을 시작하였으며, 이번 캠페인은 광맥, 황화물존 및 셰일존을 목표로 하고 있습니다. 회사는 2025년 상반기까지 지하 구성 요소에 대한 예비 경제성 평가(PEA)를 완료할 계획입니다. 5,000미터에 달하는 드릴링 프로그램은 400미터 길이의 복구된 운반 도로에서 시행되며, 분석 결과는 2024년 연말 이전에 기대됩니다. 프로젝트는 10에서 12백만 톤의 탐사 목표와 225에서 265 g/t AgEq의 보유량을 보이며, 이는 73에서 100 Moz AgEq의 잠재력을 보여줍니다.
Silver Tiger Metals a lancé sa campagne de forage souterrain au Projet El Tigre dans l'État de Sonora au Mexique, visant les veines, la zone de sulfure et la zone de schiste. La société prévoit de terminer une Évaluation Économique Préliminaire (PEA) pour le composant souterrain au cours du premier semestre 2025. Le programme de forage de 5 000 mètres est réalisé depuis un chemin de transport réhabilité de 400 mètres de long, avec des analyses attendues avant la fin de l'année 2024. Le projet présente un potentiel d'exploration significatif, avec un objectif d'exploration de 10 à 12 millions de tonnes à 225 à 265 g/t AgEq pour 73 à 100 Moz AgEq.
Silver Tiger Metals hat seine unterirdische Bohrkampagne im El Tigre Projekt in Sonora, Mexiko, begonnen, wobei Venen, Sulfidzone und Schieferzone im Fokus stehen. Das Unternehmen plant, bis zur ersten Hälfte des Jahres 2025 eine vorläufige wirtschaftliche Bewertung (PEA) für den unterirdischen Teil abzuschließen. Das Bohrprogramm, das 5.000 Meter umfasst, wird von einem 400 Meter langen rekonstruierten Transportweg durchgeführt, wobei die Ergebnisse voraussichtlich vor Ende 2024 vorliegen werden. Das Projekt weist ein signifikantes Erkundungspotenzial auf, mit einem Explorationsziel von 10 bis 12 Millionen Tonnen bei 225 bis 265 g/t AgEq, was 73 bis 100 Moz AgEq entspricht.
- High-grade zones with results up to 86.5 kg/tonne silver equivalent
- Significant cost savings through underground drilling vs surface drilling
- Substantial exploration potential with 73-100 Moz AgEq target
- Project is fully permitted for underground development
- None.
HALIFAX, NS / ACCESSWIRE / December 3, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is announcing the commencement of its underground drilling campaign targeting the Veins, the Sulfide Zone and the Shale Zone on its
Glenn Jessome, President & CEO stated "After the release of our robust PFS on the near-surface, low-capex open pit portion of the El Tigre Project, our next goal will be to complete a PEA on the underground component of the project in the first half of 2025. Our current underground drilling program is targeting the Veins, the Sulfide Zone and the Shale Zone from our 400-meter-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."
Underground Dilling
The El Tigre Project underground drilling campaign is targeting the Veins, the Sulfide Zone and the Shale Zone located as close as 40 meters to the pre-existing haulage way. These high-grade zones, especially the historically-mined Veins with results up to 86.5 kilograms/tonne silver equivalent, form a crucial component of the UG PEA (see Press Release dated November 9, 2021).
The drill rig and geological team are mobilized and drilling has begun in a 5,000 meter array. Role Drilling of Hermosillo has been contracted for drilling HQ, oriented drill holes ranging in depth from 100-300 meters, offering a significant cost savings over drilling from surface. Assays are expected before EOY 2024.
Figure 1 - Underground Drilling Operations in Progress at El Tigre Project
Underground Preliminary Economic Assessment
The Corporation will also continue to work on this substantial, permitted underground Mineral Resource Estimate and advance this towards a Preliminary Economic Assessment by H1-2025.
Figure 2 - Proposed Underground Drilling Campaign
Exploration Potential
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 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq.
Figure 3 -Exploration Potential released October 2024
Qualified Persons
David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's
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 production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for 250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, 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 (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future drilling programs and infill sampling, the ability to extend Mineral Resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
SOURCE: Silver Tiger Metals Inc.
View the original press release on accesswire.com
FAQ
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