Silver Tiger Announces Filing of Updated Mineral Resource Estimate and Pre-Feasibility Study Technical Report for the El Tigre Silver-Gold Project
Silver Tiger Metals has filed a Preliminary Feasibility Study (PFS) for its El Tigre Silver-Gold Project in Sonora, Mexico. The study reveals an After-Tax NPV of US$222 million with a 40.0% IRR and 2.0-year payback period. The project features a 10-year mine life with total production of 43 million payable silver equivalent ounces, requiring initial capital costs of $86.8 million.
Key metrics include average operating cash costs of $973/oz AuEq, AISC of $1,214/oz AuEq, and average annual production of 4.8 million AgEq oz. The project will process 40,292kt of material with silver grades of 14.9 g/t and gold grades of 0.40 g/t, achieving recovery rates of 45%/40% for silver and 83%/56% for gold in oxide/sulfide ores.
Silver Tiger Metals ha presentato uno Studio di Fattibilità Preliminare (PFS) per il suo Progetto El Tigre Silver-Gold in Sonora, Messico. Lo studio rivela un NPV dopo le tasse di 222 milioni di dollari USA con un IRR del 40,0% e un periodo di ritorno di 2,0 anni. Il progetto prevede una vita mineraria di 10 anni con una produzione totale di 43 milioni di once d'argento equivalente pagabili, richiedendo costi iniziali di capitale di 86,8 milioni di dollari.
I principali parametri includono costi operativi medi in contante di 973 $/oz AuEq, AISC di 1.214 $/oz AuEq, e una produzione annuale media di 4,8 milioni di once AgEq. Il progetto tratterà 40.292 kt di materiale con gradi d'argento di 14,9 g/t e gradi d'oro di 0,40 g/t, raggiungendo tassi di recupero del 45%/40% per l'argento e dell'83%/56% per l'oro nelle miniere ossidiche/sulfidiche.
Silver Tiger Metals ha presentado un Estudio de Viabilidad Preliminar (PFS) para su Proyecto de Plata-Oro El Tigre en Sonora, México. El estudio revela un VPN después de impuestos de 222 millones de dólares estadounidenses con un TIR del 40.0% y un período de recuperación de 2.0 años. El proyecto presenta una vida útil de la mina de 10 años con una producción total de 43 millones de onzas equivalentes de plata pagaderas, requiriendo costos de capital iniciales de 86.8 millones de dólares.
Las métricas clave incluyen costos de operación promedio de 973 $/oz AuEq, AISC de 1,214 $/oz AuEq y una producción anual promedio de 4.8 millones de oz AgEq. El proyecto procesará 40,292 kt de material con grados de plata de 14.9 g/t y grados de oro de 0.40 g/t, logrando tasas de recuperación del 45%/40% para plata y del 83%/56% para oro en menas oxidadas/sulfídicas.
Silver Tiger Metals는 멕시코 소노라에 있는 엘 티그레 은-금 프로젝트에 대한 예비 타당성 조사(PFS)를 제출했습니다. 이 연구는 세후 NPV가 2억 2천2백만 달러에 달하며, 내부 수익률(IRR)은 40.0%이고 회수 기간은 2.0년입니다. 이 프로젝트는 10년의 광산 수명을 특징으로 하며, 총 생산량은 4천3백만 온스의 은 상당량으로, 초기 자본 비용은 8천6백80만 달러가 필요합니다.
주요 지표로는 평균 운영 현금 비용이 973 $/oz AuEq, 총 생산 비용(AISC)이 1,214 $/oz AuEq, 연간 평균 생산량이 480만 AgEq 온스입니다. 이 프로젝트는 40,292kt의 물질을 처리하며, 은 농도가 14.9 g/t, 금 농도가 0.40 g/t로, 산화광 및 황화광에서 은의 회수율은 45%/40%, 금의 회수율은 83%/56%에 도달할 것입니다.
Silver Tiger Metals a soumis une Étude de Faisabilité Préliminaire (PFS) pour son Projet d'Argent-Or El Tigre dans l'État de Sonora, au Mexique. L'étude révèle une VAN après impôts de 222 millions de dollars américains avec un TIR de 40,0% et une période de remboursement de 2,0 ans. Le projet présente une durée de vie minière de 10 ans avec une production totale de 43 millions d'onces équivalentes d'argent payables, nécessitant des coûts de capital initiaux de 86,8 millions de dollars.
Les principaux indicateurs comprennent des coûts de fonctionnement moyens de 973 $/oz AuEq, un AISC de 1.214 $/oz AuEq et une production annuelle moyenne de 4,8 millions d'onces AgEq. Le projet traitera 40.292 kt de matériau avec des teneurs en argent de 14,9 g/t et des teneurs en or de 0,40 g/t, atteignant des taux de récupération de 45%/40% pour l'argent et de 83%/56% pour l'or dans des minerais oxydés/sulfureux.
Silver Tiger Metals hat eine vorläufige Machbarkeitsstudie (PFS) für sein El Tigre Silber-Gold-Projekt im Bundesstaat Sonora, Mexiko, eingereicht. Die Studie zeigt einen NPV nach Steuern von 222 Millionen US-Dollar mit einer internen Rendite (IRR) von 40,0% und einer Amortisationszeit von 2,0 Jahren. Das Projekt verfügt über eine 10-jährige Lebensdauer der Mine mit einer Gesamtproduktion von 43 Millionen zahlbaren Silberäquivalentunzen, wobei Anfangsinvestitionen von 86,8 Millionen Dollar erforderlich sind.
Wichtige Kennzahlen umfassen durchschnittliche Betriebskosten von 973 $/oz AuEq, AISC von 1.214 $/oz AuEq und eine durchschnittliche jährliche Produktion von 4,8 Millionen AgEq oz. Das Projekt wird 40.292 kt Material verarbeiten, mit Silbergehalten von 14,9 g/t und Goldgehalten von 0,40 g/t, wobei Rückgewinnungsraten von 45%/40% für Silber und 83%/56% für Gold in oxidischen/sulfidischen Erzen erreicht werden.
- After-Tax NPV of US$222 million with strong 40% IRR
- Significant total undiscounted after-tax cash flow of US$318 million
- Robust 10-year mine life with 43 million payable silver equivalent ounces
- Relatively quick payback period of 2.0 years
- Three years of production secured in Proven category for Phase 1
- High initial capital requirement of US$86.8 million
- Additional expansion capital needed of US$20.1 million in year 3
- Relatively low silver recovery rates (45%/40% for oxide/sulfide)
HALIFAX, NS / ACCESSWIRE / December 6, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased to announce the filing of a Preliminary Feasibility Study ("PFS") for its
The updated MRE also contains an Out-of-Pit Mineral Resource that Silver Tiger plans to study in a Preliminary Economic Assessment in H1-2025.
Highlights of the PFS are as follows (all figures in US dollars unless otherwise stated):
After-Tax net present value ("NPV") (using a discount rate of
5% ) of US$222 million with an After-Tax IRR of40.0% and Payback Period of 2.0 years (Base Case);10-year mine life recovering a total of 43 million payable silver equivalent ounces ("AgEq") or 510 thousand payable gold equivalent ounces ("AuEq"), consisting of 9 million silver ounces and 408 thousand gold ounces;
Total Project undiscounted after-tax cash flow of US
$318 million ;Initial capital costs of
$86.8 million , which includes$9.3 million of contingency costs, over an expected 18-month build, expansion capital of$20.1 million in year 3 and sustaining capital costs of$6.2 million over the life of mine ("LOM");Average LOM operating cash costs of
$973 /oz AuEq, and all in sustaining costs ("AISC") of$1,214 /oz AuEq or Average LOM operating cash costs of$12 /oz AgEq, and all in sustaining costs ("AISC") of$14 /oz AgEq;Average annual production of approximately 4.8 million AgEq oz or 56.7 thousand AuEq oz; and
Three (3) years of production in the Proven category in the Phase 1 Starter Pit.
Preliminary Feasibility Summary
The PFS was prepared by independent consultants P&E Mining Consultants Inc. ("P&E"), with metallurgical test work completed by McClelland Laboratories, Inc. - Sparks, Nevada, process plant design and costing by D.E.N.M. Engineering Ltd., environmental and permitting led by CIMA Mexico, and geotechnical assessment of heap leach design, waste dump design and pit slopes by WSP Global Inc. Table 1 shows key assumptions and results.
Table 1: El Tigre PFS Key Economic Assumptions and Results(1-2)
Assumption / Result | Unit | Value |
| Assumption / Result | Unit | Value |
|---|---|---|---|---|---|---|
Total OP Plant Feed Mined | kt | 40,292 |
| Net Revenue | US$M | 1,093 |
Operating Strip Ratio | Ratio | 1.7:1 |
| Initial Capital Costs | US$M | 86.8 |
Silver Grade1 | g/t | 14.9 |
| Expansion Capital Costs | US$M | 20.1 |
Gold Grade1 | g/t | 0.40 |
| Sustaining Capital Costs | US$M | 6.2 |
Silver Recovery (Oxide/Sul.)2 | % | 45 / 40 |
| Mining Costs | $/t Material | 2.24 |
Gold Recovery (Oxide/Sul.)2 | % | 83 / 56 |
| Processing Costs (Phase 1 and Phase 2) | $/t Feed | 5.79/4.74 |
Silver Price | US$/oz | 26.00 |
| G&A Costs | $/t Feed | 1.27 |
Gold Price | US$/oz | 2,150 |
| Operating Cash Cost | US$/oz AgEq | 11.6 |
Payable Silver Metal | Moz | 8.57 |
| All-in Sustaining Cost | US$/oz AgEq | 14.4 |
Payable Gold Metal | koz | 408 |
| After-Tax NPV ( | US$M | 222 |
Payable AgEq | Moz | 42.9 |
| Pre-Tax NPV ( | US$M | 342 |
Mine Life | Yrs | 10 |
| After-Tax IRR | % | 40.0 |
Average mining rate | t/day | 30,000 |
| Pre-Tax IRR | % | 51.2 |
|
|
|
| After-Tax Payback Period | Yrs | 2.0 |
Grades shown are LOM average process plant feed grades include only OP sources. Mining losses and external dilution of
3.7% were incorporated in the mining schedule.Column testing indicated both variable gold and silver recovery for the oxide material vs the previously reported non-discounted PEA (
83% and64% ) at a 3/8-in crush size. In the process design and financial model for the PFS process design and financial model recoveries have been discounted by3% for leaching in the field versus optimum conditions in the laboratory and shown accordingly. The presence of transition and sulfide zones has affected both the gold and silver recoveries and are shown as separate recoveries. These are reasonable and appropriate for use in this PFS design and economic analysis.
Qualified Persons
Mineral Resource Estimate: Dave Duncan P. Geo. VP Exploration of Silver Tiger, Charles Spath P.Geo., VP of Technical Services of Silver Tiger, and Fred Brown, P.Geo RM-SME Senior Associate Geologist of P&E Mining Consultants, and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
Preliminary Feasibility Study: Andrew Bradfield P. Eng of P&E Mining Consultants, Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants and David J. Salari, P. Eng. of D.E.N.M. Engineering Ltd are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
A Technical Report is being prepared on the Preliminary Feasibility Study in accordance with National Instrument 43-101 ("NI-43-101"), and will be available on the Company's website and SEDAR within 45 days of the date of this news release. The effective date of this Preliminary Feasibility Study is October 22, 2024.
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 meters. 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 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 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
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