Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years’ experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger’s 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
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 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1 kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. 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.
The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.5 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA.
The El Tigre Property lies at the northern end of the Sierra Madre gold belt which hosts many epithermal gold and silver deposits including Dolores, Santa Elena and 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 much of the production coming from the El Tigre vein. Underground mining on the El Tigre vein extended 1,450 meters along strike and mined on 14 levels to a depth of 450 meters. By the time the mine closed in 1938, 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.
Plan Map of El Tigre Veins and Drill Holes
El Tigre Cross Section 6650 - Caleigh & Protectora Vein
El Tigre Cross Section 6675 - Caleigh & Protectora Vein
El Tigre Cross Section 6125N - Benjamin Vein
El Tigre Cross Section 6100N - Benjamin Vein
El Tigre Cross Section 6075N - Benjamin Vein
El Tigre Cross Section 4900N - Sooy Vein
El Tigre Cross Section 4875N - Sooy Vein
El Tigre Cross Section 4850N - Sooy Vein
El Tigre Cross Section 4825N - Sooy Vein
El Tigre Cross Section 4812.2N - Sooy Vein
El Tigre Cross Section 4650N - Sooy Vein
El Tigre Cross Section 3875N - Sooy Vein
El Tigre Cross Section 4750N - Sooy Vein
Drilling at the Historic El Tigre Mine
- Hole ET-031 - 92.9 meters of 0.80 g/t gold equivalent consisting of 0.39 g/t gold and 30.4 g/t silver
- Hole ET-033 - 48.6 meters of 1.46 g/t gold equivalent consisting of 0.61 g/t gold and 63.9 g/t silver
- Hole ET-051 - 127.0 meters of 2.16 g/t gold equivalent consisting of 1.80 g/t gold and 27.5 g/t silver
- Hole ET-066 - 97.7 meters of 1.80 g/t gold equivalent consisting of 0.90 g/t gold and 67.5 g/t silver
- Hole ET-075 - 104.0 meters of 1.01 g/t gold equivalent consisting of 0.53 g/t gold and 36.1 g/t silver
- Hole ET-077 - 139.1 meters of 1.02 g/t gold equivalent consisting of 0.94 g/t gold and 6.6 g/t silver
- Hole ET-083 - 121.1 meters of 1.38 g/t gold equivalent consisting of 1.02 g/t gold and 27.0 g/t silver
- Hole ET-085 - 89.7 meters of 1.02 g/t gold equivalent consisting of 0.62 g/t gold and 30.3 g/t silver
- Hole ET-092 - 95.6 meters of 1.35 g/t gold equivalent consisting of 1.17 g/t gold and 13.2 g/t silver
- Hole ET-096 - 74.2 meters of 0.96 g/t gold equivalent consisting of 0.80 g/t gold and 11.6 g/t silver
- Hole ET-108 - 110.0 meters of 0.79 g/t gold equivalent consisting of 0.6 g/t gold and 14.5 g/t silver
- Hole ET-109 - 20.4 meters of 3.23 g/t gold equivalent consisting of 0.4 g/t gold and 212 g/t silver
- Hole ET-110 - 102.0 meters of 0.67 g/t gold equivalent consisting of 0.5 g/t gold and 13.4 g/t silver
- Hole ET-133 - 67.6 meters of 1.49 g/t gold equivalent consisting of 1.24 g/t gold and 19.1 g/t silver
- Hole ET-135 - 37.7 meters of 0.78 g/t gold equivalent consisting of 0.62 g/t gold and 12.4 g/t silver
- Hole ET-140 - 9.0 meters of 1.86 g/t gold equivalent consisting of 0.18 g/t gold and 125.5 g/t silver, including 1.5 meters of 9.54 g/t gold equivalent consisting of 0.43 g/t gold and 683.2 g/t silver
- Hole ET-202 - 11.75 meters grading 667.9 g/t AgEq within 22.2 meters of 381.9 g/t AgEq in new discovery
- Hole ET-203 - 2.95 meters grading 1,941.1 g/t AgEq within 9.30 meters grading 638.4 g/t AgEq in the Footwall Zone below the Sooy Vein.
- Hole ET-207 - 1.30 meters grading 2,657.8 g/t AgEq within 4.55 meters grading 810.2 g/t AgEq in the Footwall Zone below the Sooy Vein.
- Hole ET-211 - 1.3 m grading 1,346.7 g/t AgEq within 4.9 m grading 384.9 g/t AgEq
- Hole ET-213 - 1.6 m grading 1,355.4 g/t AgEq in the Sooy vein and 2.3 m grading 870.7 g/t AgEq in the footwall zone
- Hole ET 217 - 0.5 m grading 2693.6 g/t AgEq within 7.3 m grading 221.2 g/t AqEq
- Hole ET 219 - 0.5 m grading 4668.5 g/t AgEq within 11.8 m grading 325.0 g/t AgEq
Drilling on the Northern Vein Extensions
- Hole ET-144 - 31.5 meters of 2748.4 g/t silver equivalent consisting of 1990.9 g/t silver and 10.1 g/t gold, including 0.85 meters of 10,128.9 g/t silver equivalent consisting of 7,338.9 g/t silver and 3.72 g/t gold in the Caleigh Vein
- Hole ET-144 - 1.5 meters of 1109.1 g/t silver equivalent consisiting of 1107.3 g/t silver and 0.024 g/t gold in the Protectora Vein
- Hole ET-145 - 0.8 meters of 3647.9 g/t silver equivalent consisting of 2830.4 g/t silver and 10.9 g/t gold in the Caleigh Vein
- Hole ET-148 - 0.50 meters of 2984.35 g/t silver equivalent consisting of 2247.1 g/t silver and 9.83 g/t gold in the Caleigh Vein
- Hole ET-156 - 0.3 meters grading 1,284.0 g/t AgEq from 82 meters to 82.3 meters consisting of 752 gpt Ag and 7.09 gpt Au. in the Caleigh Vein
- Hole ET-158 - 0.7 meters grading 1,121.6 g/t AgEq from 90 meters to 90.7 meters consisting of 815 gpt Ag and 4.09 gpt Au in the Caleigh Vein
- Hole ET-163 - 0.5 meters grading 2,049.1 g/t AgEq from 16.9 meters to 17.4 meters consisting of 1,782 gpt Ag and 3.56 gpt Au and a second intercept of 0.5 meters grading 1,440.6 gpt AgEq from 51.9 meters to 52.4 meters consisting of 1,374 gpt Ag and 0.89 gpt Au in the Protectora Vein
- Hole ET-164 - 0.5 meters grading 1,592.5 g/t AgEq from 17 meters to 17.5 meters consisting of 805 gpt Ag and 10.50 gpt Au in the Protectora Vein
Drilling on the Benjamin Vein
- Hole ET-193 - 3.0 meters grading 1,310.1 g/t AgEq from 116.5 meters to 119.5 meters, consisting of 1,303.2 g/t Ag and 0.09 g/t Au, within 5.5 meters grading 732 g/t AgEq, consisting of 726.1 g/t Ag and 0.08 g/t Au
- Hole ET-204 - 5.6 meters grading 1,010.3 g/t silver equivalent from 120.4 meters to 126.0 meters, consisting of 272.7 g/t silver, 0.14 g/t gold, 0.18% copper, 5.53% lead and 16.95% zinc within 14.2 meters grading 519.5 g/t silver equivalent from 111.8 meters to 126.0 meters, consisting of 140.5 g/t silver, 0.12 g/t Au, 0.08% copper, 2.98% lead and 8.54% zinc
- Hole ET-206 - 2.0 meters grading 1,443.0 g/t silver equivalent from 109.8 meters to 111.8 meters consisting of 1,034.5 g/t silver, 0.18 g/t Au, 0.29% copper, 2.74% lead and 8.83% zinc within 12.6 meters grading 266.6 g/t silver equivalent from 106.2 meters to 118.8 meters, consisting of 181.3 g/t silver, 0.07 g/t gold, 0.05% copper, 0.57% lead and 1.79% zinc
- Hole ET-199 - 1.1 meters grading 1,015.9 g/t silver equivalent from 113.6 meters to 114.7 meters, consisting of 699.4 g/t silver, 0.11 g/t gold, 0.2% copper, 2.08% lead and 7.01% zinc within 7.7 meters grading 304.6 g/t silver equivalent from 107.0 meters to 114.7 meters, consisting of 222.3 g/t silver, 0.05 g/t gold, 0.09% copper, 0.51% lead and 1.69% zinc
* The true width has not been calculated for the intercepts, but true width is generally estimated at 75-90% of drilled width. The gold equivalent ratio is based on a gold-to-silver price ratio of 75:1.
El Tigre Resource Estimate
After acquiring El Tigre, Silver Tiger drilled 12,500 meters to define the halo of near surface gold mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger to deliver a maiden resource estimate for the El Tigre Property to a depth of 150 meters containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The complete National Instrument 43-101 technical report is available on the company’s website below under Mineral Resource Estimate and Technical Report and on SEDAR under the company’s profile.
NI 43-101 Technical Report and Updated Mineral Resource Statement on the El Tigre Project, Sonora, Mexico
Silver Tiger reported an independent Mineral Resource Estimate for the El Tigre Property completed by P&E Mining Consultants Inc. ("P&E") which is detailed in the table below. The El Tigre Mineral Resource Estimate includes extensions of the historical El Tigre and Seitz Kelly Veins1, as well as the mineralized breccia halo around the El Tigre Vein. The Fundadora Mineral Resource Estimate includes the Aquila, Fundadora, Protectora and Caleigh Veins2.
El Tigre Project Mineral Resource Estimate (1-11)
|Resource Area||Class||AuEq g/t
|Au Eq g/t||AuEq ozs
|Sub Total Indicated||0.20, 1.50||25,908||19||15,681||0.52||436||0.75||624|
|Sub Total Inferred||0.20, 1.50||6,579||89||18,720||0.52||111||1.59||337|
Notes to El Tigre Project Mineral Resource Estimate:
(1) El Tigre Deposit Mineral Resources are comprised of the El Tigre and Seitz Kelly Veins.
(2) Fundadora Deposit Mineral Resources are comprised of the Aquila, Fundadora, Protectora and Caleigh Veins.
(3) El Tigre Tailings Deposit Mineral Resources are comprised of the tailings from the former El Tigre operation.
(4) Mineral Resources are reported within a constraining pit shell.
(5) The Mineral Resource Estimate is reported in accordance with the Canadian Securities Administrators
National Instrument 43-101 and has been estimated using the CIM “Estimation of Mineral Resources
and Mineral Reserves Best Practice Guidelines and CIM “Definition Standards for Mineral Resources
and Mineral Reserves.
(6) Au:Ag ratio = ($1250/$17)/(70% Ag Rec/80% Au Rec)= 84:1 Therefore, AuEq=(Ag/84) + Au
(7) Mineral Resources in this estimate are based on approx. two year trailing average metal prices of
US$1,250 oz Au and US$17 /oz Ag, estimated process recoveries 80% Au and 70% Ag, US$5.70/t
process cost and US$0.80/t G&A cost. Mining costs of US$1.55/t for open pit and $45/t for underground
and tailings mining costs of US$5.50/t were used to derive the respective Mineral Resource Estimate
AuEq cut-offs of 0.20 g/t and 1.5 g/t and 0.37g/t. Pit optimization slopes were 50 degrees
(8) The Mineral Resource Estimate uses drill hole data available as of September 1, 2017.
(9) Totals may not add correctly due to rounding.
(10) An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral
Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of
Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued
(11) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The
estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing or other relevant issues.
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