El Tigre Historic Mine District
Sonora, Mexico
Overview
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.
- In 2016 acquired the El Tigre concessions covering over 28,000 hectares for 11 million dollars CDN
- In 2019 purchased the 6283 hectares of land that contain the concessions where the majority of the exploration has been conducted for 1.1 million USD
- Silver Tiger has raised 75 million dollars CDN in 4 bought deal financings since 2020
- Cash balance of C$24,500,000 as of the quarter ended June 30, 2023
- Silver Tiger has drilled over 100,000 meters at El Tigre
- MRE released in September 2023 has delineated approximately 37.2m Oz Ag and 575k Oz Au Indicated, and 52.6m Oz Ag and 374k Oz Au of Inferred
- Underground rehabilitation and slashing of the main portal for approximately 400 meters at an opening size of 4.0 meters by 4.5 meters
- Preliminary Economic Assessment (PEA) will be delivered in September 2023
El Tigre Deposit – Long Section Exploration Potential – Looking East
El Tigre Deposit – Conceptual Long Section – Looking East
El Tigre Deposit – Conceptual Section Mineralization Styles – Looking North
Mineral Resource Estimate
El Tigre Project - 2023 Mineral Resource Estimate
| Area | Vein | Class | Cut-off | Tonnes | Au | Au | Ag | Ag | AuEq | AuEq | AgEq | AgEq | Cu | Cu | Pb | Pb | Zn | Zn |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AuEq (g/t) | (k) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (%) | (Mlb) | (%) | (Mlb) | (%) | (Mlb) | |||
| Pit Constrained | Indicated | 0.14 | 43,002 | 0.39 | 535.3 | 14.5 | 20,049 | 0.59 | 818.4 | 44.4 | 61,381 | 0.00 | 1.8 | 0.01 | 7.0 | 0.02 | 14.3 | |
| Inferred | 0.14 | 11,524 | 0.47 | 175.9 | 17.3 | 6,396 | 0.72 | 267.3 | 54.1 | 20,045 | 0.00 | 0.8 | 0.01 | 3.7 | 0.02 | 4.3 | ||
| Out-of-pit | Indicated | 1.5 | 2,323 | 0.38 | 28.7 | 190.5 | 14,231 | 3.72 | 277.8 | 279.0 | 20,838 | 0.15 | 7.6 | 0.55 | 28.0 | 0.97 | 49.8 | |
| Inferred | 1.5 | 9,229 | 0.66 | 196.6 | 154.6 | 45,885 | 3.14 | 930.7 | 235.2 | 69,801 | 0.09 | 17.3 | 0.27 | 55.9 | 0.49 | 99.0 | ||
| Vein Total | Indicated | 0.14+1.5 | 45,325 | 0.39 | 564.0 | 23.5 | 34,279 | 0.75 | 1096.3 | 56.4 | 82,219 | 0.01 | 9.4 | 0.04 | 35.0 | 0.06 | 64.1 | |
| Inferred | 0.14+1.5 | 20,753 | 0.56 | 372.6 | 78.4 | 52,282 | 1.80 | 1198.0 | 134.7 | 89,847 | 0.04 | 18.1 | 0.13 | 59.6 | 0.23 | 103.4 | ||
| Low Grade Stockpiles | Indicated | 0.3 | 103 | 0.90 | 3.0 | 177.4 | 588 | 3.41 | 11.3 | 255.7 | 847 | 0.02 | 0.1 | 0.22 | 0.5 | 0.10 | 0.2 | |
| Inferred | 0.3 | 18 | 0.46 | 0.3 | 145.9 | 83 | 2.52 | 1.4 | 188.8 | 108 | 0.02 | 0.0 | 0.17 | 0.1 | 0.09 | 0.0 | ||
| Tailings | Indicated | 0.3 | 939 | 0.27 | 8.0 | 78.0 | 2,345 | 1.30 | 39.3 | 97.5 | 2,948 | |||||||
| Inferred | 0.3 | 101 | 0.27 | 0.9 | 79.0 | 254 | 1.31 | 4.3 | 98.3 | 323 | ||||||||
| Total (Vein+Stockpile+Tailing) | Indicated | 0.14+1.5+0.3 | 46,367 | 0.39 | 575.0 | 25.0 | 37,212 | 0.77 | 1146.9 | 57.7 | 86,014 | 0.01 | 9.4 | 0.03 | 35.5 | 0.06 | 64.3 | |
| Inferred | 0.14+1.5+0.3 | 20,871 | 0.56 | 373.7 | 78.4 | 52,619 | 1.79 | 1203.7 | 134.5 | 90,277 | 0.04 | 18.1 | 0.13 | 59.7 | 0.22 | 103.4 | ||
Pit Constrained Mineral Resource Sensitivity (Resource COG = 0.14 g/t AuEq)
| Classification | Cut-off | Tonnes | Au | Au | Ag | Ag | AuEq | AuEq | AgEq | AgEq | Cu | Pb | Zn |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AuEq (g/t) | (k) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (%) | (%) | (%) | |
| Indicated | 1 | 5,719 | 0.94 | 172.4 | 56.9 | 10,464 | 1.72 | 315.6 | 128.7 | 23,672 | 0.00 | 0.02 | 0.02 |
| 0.9 | 6,874 | 0.89 | 196.3 | 51.0 | 11,273 | 1.59 | 350.8 | 119.0 | 26,310 | 0.00 | 0.01 | 0.02 | |
| 0.8 | 8,326 | 0.83 | 223.1 | 45.5 | 12,177 | 1.46 | 390.3 | 109.4 | 29,273 | 0.00 | 0.01 | 0.02 | |
| 0.7 | 10,251 | 0.77 | 255.4 | 39.9 | 13,166 | 1.32 | 436.5 | 99.3 | 32,739 | 0.00 | 0.01 | 0.02 | |
| 0.6 | 12,971 | 0.71 | 295.4 | 34.3 | 14,323 | 1.18 | 493.0 | 88.7 | 36,976 | 0.00 | 0.01 | 0.02 | |
| 0.5 | 16,816 | 0.64 | 344.4 | 28.9 | 15,615 | 1.04 | 560.6 | 77.8 | 42,045 | 0.00 | 0.01 | 0.02 | |
| 0.4 | 22,280 | 0.56 | 402.8 | 23.7 | 16,979 | 0.89 | 639.1 | 66.9 | 47,929 | 0.00 | 0.01 | 0.02 | |
| 0.3 | 29,999 | 0.48 | 466.1 | 19.2 | 18,488 | 0.75 | 724.9 | 56.4 | 54,368 | 0.00 | 0.01 | 0.02 | |
| 0.2 | 38,688 | 0.42 | 518.1 | 15.8 | 19,659 | 0.64 | 794.9 | 47.9 | 59,618 | 0.00 | 0.01 | 0.02 | |
| 0.14 | 43,002 | 0.39 | 535.3 | 14.5 | 20,049 | 0.59 | 818.4 | 44.4 | 61,381 | 0.00 | 0.01 | 0.02 | |
| 0.1 | 45,774 | 0.37 | 543.1 | 13.7 | 20,215 | 0.56 | 829.1 | 42.3 | 62,183 | 0.00 | 0.01 | 0.01 | |
| Inferred | 1 | 2,617 | 1.06 | 89.5 | 47.1 | 3,962 | 1.72 | 144.8 | 129.1 | 10,862 | 0.01 | 0.04 | 0.02 |
| 0.9 | 2,811 | 1.03 | 92.7 | 46.0 | 4,158 | 1.67 | 150.7 | 125.1 | 11,306 | 0.01 | 0.04 | 0.02 | |
| 0.8 | 3,115 | 0.98 | 97.7 | 43.9 | 4,394 | 1.59 | 159.0 | 119.1 | 11,926 | 0.01 | 0.04 | 0.02 | |
| 0.7 | 3,704 | 0.90 | 107.1 | 39.7 | 4,724 | 1.45 | 173.1 | 109.0 | 12,985 | 0.01 | 0.03 | 0.02 | |
| 0.6 | 4,562 | 0.82 | 119.7 | 34.7 | 5,095 | 1.30 | 191.0 | 97.7 | 14,329 | 0.01 | 0.03 | 0.02 | |
| 0.5 | 5,404 | 0.75 | 130.5 | 30.9 | 5,371 | 1.19 | 205.9 | 88.9 | 15,443 | 0.00 | 0.02 | 0.02 | |
| 0.4 | 6,631 | 0.67 | 143.7 | 26.6 | 5,662 | 1.05 | 223.5 | 78.6 | 16,762 | 0.00 | 0.02 | 0.02 | |
| 0.3 | 8,603 | 0.58 | 160.4 | 21.7 | 5,999 | 0.89 | 245.5 | 66.6 | 18,413 | 0.00 | 0.02 | 0.02 | |
| 0.2 | 10,725 | 0.50 | 172.7 | 18.3 | 6,324 | 0.76 | 262.9 | 57.2 | 19,715 | 0.00 | 0.02 | 0.02 | |
| 0.14 | 11,524 | 0.47 | 175.9 | 17.3 | 6,396 | 0.72 | 267.3 | 54.1 | 20,045 | 0.00 | 0.01 | 0.02 | |
| 0.1 | 11,796 | 0.47 | 176.7 | 16.9 | 6,415 | 0.71 | 268.3 | 53.1 | 20,124 | 0.00 | 0.01 | 0.02 |
Out-of-Pit Mineral Resource Sensitivity (Resource COG = 1.5 g/t AuEq)
| Classification | Cut-off | Tonnes | Au | Au | Ag | Ag | AuEq | AuEq | AgEq | AgEq | Cu | Pb | Zn |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AuEq (g/t) | (k) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (g/t) | (k oz) | (%) | (%) | (%) | |
| Indicated | 5 | 469 | 0.73 | 11.0 | 418.2 | 6,309 | 8.19 | 123.5 | 614.1 | 9,263 | 0.39 | 1.24 | 2.21 |
| 4.5 | 557 | 0.68 | 12.3 | 390.6 | 7,000 | 7.64 | 136.9 | 573.1 | 10,269 | 0.36 | 1.15 | 2.08 | |
| 4 | 669 | 0.64 | 13.8 | 362.0 | 7,781 | 7.08 | 152.1 | 530.7 | 11,406 | 0.33 | 1.06 | 1.93 | |
| 3.5 | 821 | 0.59 | 15.7 | 330.9 | 8,740 | 6.45 | 170.5 | 484.0 | 12,784 | 0.29 | 0.96 | 1.74 | |
| 3 | 1,021 | 0.54 | 17.8 | 299.2 | 9,820 | 5.82 | 191.2 | 436.9 | 14,338 | 0.25 | 0.87 | 1.56 | |
| 2.5 | 1,274 | 0.50 | 20.4 | 267.5 | 10,954 | 5.21 | 213.4 | 390.9 | 16,009 | 0.22 | 0.77 | 1.40 | |
| 2 | 1,665 | 0.44 | 23.8 | 231.5 | 12,396 | 4.51 | 241.6 | 338.4 | 18,118 | 0.19 | 0.67 | 1.20 | |
| 1.5 | 2,323 | 0.38 | 28.7 | 190.5 | 14,231 | 3.72 | 277.8 | 279.0 | 20,838 | 0.15 | 0.55 | 0.97 | |
| 1 | 3,725 | 0.34 | 40.2 | 139.9 | 16,758 | 2.78 | 332.7 | 208.3 | 24,951 | 0.11 | 0.40 | 0.70 | |
| Inferred | 5 | 1,149 | 1.24 | 45.8 | 362.7 | 13,395 | 6.68 | 246.6 | 500.8 | 18,495 | 0.15 | 0.38 | 0.65 |
| 4.5 | 1,598 | 1.04 | 53.6 | 339.5 | 17,442 | 6.15 | 315.9 | 461.1 | 23,689 | 0.14 | 0.38 | 0.64 | |
| 4 | 1,919 | 1.02 | 63.2 | 318.2 | 19,637 | 5.83 | 359.6 | 437.0 | 26,968 | 0.13 | 0.38 | 0.62 | |
| 3.5 | 2,520 | 0.98 | 79.8 | 287.9 | 23,327 | 5.33 | 432.0 | 399.9 | 32,399 | 0.11 | 0.35 | 0.58 | |
| 3 | 3,898 | 0.80 | 100.4 | 243.5 | 30,521 | 4.63 | 579.7 | 346.9 | 43,478 | 0.11 | 0.38 | 0.70 | |
| 2.5 | 4,912 | 0.84 | 132.3 | 216.8 | 34,240 | 4.24 | 669.0 | 317.7 | 50,174 | 0.10 | 0.33 | 0.62 | |
| 2 | 6,253 | 0.78 | 157.1 | 192.8 | 38,763 | 3.81 | 765.1 | 285.5 | 57,384 | 0.09 | 0.30 | 0.55 | |
| 1.5 | 9,229 | 0.66 | 196.6 | 154.6 | 45,885 | 3.14 | 930.7 | 235.2 | 69,801 | 0.09 | 0.27 | 0.49 | |
| 1 | 15,187 | 0.54 | 261.6 | 115.4 | 56,339 | 2.39 | 1166.8 | 179.2 | 87,508 | 0.07 | 0.21 | 0.37 |
Notes:
1. 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, socio-political, marketing, or other relevant issues.
2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
3. The Mineral Resources in this news release were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council and CIM Best Practices (2019).
Historically mined areas were depleted from the Mineral Resource model.
Approximately 74.7% of the Indicated and 22.3% of the Inferred contained AgEq ounces are pit
constrained, with the remainder out-of-pit. See tables 2 and 3 for details of the split between pit constrained and out-of-pit deposits.
6. The pit constrained AuEq cut-off grade of 0.14 g/t was derived from US$1,800/oz Au price, US$24/oz Ag price, 80% process recovery for Ag and Au, US$5.30/tonne process cost and US$1.00/tonne G&A cost. The constraining pit optimization parameters were $1.86/t mineralized mining cost, $1.86/t waste mining cost and 50-degree pit slopes.
7. The out-of-pit AuEq cut-off grade of 1.5 g/t AuEq was derived from US$1,800/oz Au price, US$24/oz Ag price, $4.00$/lb Cu, $0.95 $/lb Pb, $1.40 $/lb Zn, 85% process recovery for all metals, $50/t mining cost, US$20/tonne process and US$4 G&A cost. The out-of-pit Mineral Resource grade blocks were quantified above the 1.5 g/t AuEq cut-off, below the constraining pit shell within the constraining mineralized wireframes and exhibited sufficient continuity to be considered for cut and fill and long hole mining.
No Mineral Resources are classified as Measured.
AgEq and AuEq calculated at an Ag/Au ratio of 75:1.
Totals may not agree due to rounding
History of the El Tigre Mine District & Geological Journal Articles
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.
The Legendary Mining District "El Tigre"
History, Production and Geology of the El Tigre District
Geology of El Tigre District - R.T. Mishler, 1920
Plan Maps and Long Sections
El Tigre Mineralized System 25km
Plan Map of the El Tigre Veins and Drill Holes
El Tigre Deposit - Conceptual Long Section Looking East
El Tigre Deposit - Long Section - Exploration Potential - Looking East
El Tigre Deposit - Isometric View - Historic Stopes
El Tigre Deposit - Future UG Drilling
El Tigre Deposit - Plan View - 1700m Elevation
Sulphide Zone 1474 m Level
Sulphide Zone Long Section
El Tigre District Mining Concessions - 35 km - 28,414 Hectares
Plan Map of the Sooy Vein
Cross Sections
El Tigre Deposit - Conceptual Section - Mineralization Styles - Looking North
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
Benjamin Cross Section 6200N (Drill Hole ET-21-272)
El Tigre Cross Section 6175N (Drill Hole ET-22-378)
El Tigre Cross Section 6075N - Benjamin Vein
Sulphide Zone—Cross Section 4490N
Sulphide Zone—Cross Section 4965N
Sulphide Zone – Cross Section 5015N
El Tigre Cross Section 6025N (Drill Hole ET-21-243)
Sulphide Zone Cross Section 4940N
El Tigre Cross Section 4900N - Sooy Vein
El Tigre Cross Section 4875N - Sooy Vein
El Tigre Cross Section 4870N (Drill Hole ET-316)
El Tigre Cross Section 4865N (Drill Hole ET-431)
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
El Tigre Cross Section 4425N
El Tigre Cross Section 4050N
El Tigre Cross Section 4925N (Drill Hole ET-21-236)
El Tigre Cross Section 4950N (Drill Holes ET-21-241, 246 and 250)
El Tigre Cross Section 4000N (Drill Hole ET-21-244)
Seitz Kelly Cross Section 5050N (Drill Holes ET-21-262, 264 and 265)
Seitz Kelly Cross Section 5075N (Drill Holes ET-21-268 and 271)
El Tigre Cross Section 5075N (Drill Holes ET-21- 287, ET-21-289 and ET-21-291)
Seitz Kelly Vein and New Discovery Zone - Section 5075N (Drill Holes ET-21-278 and ET-21-271)
El Tigre Cross Section 5100N (Drill Holes ET-21- 288 and ET-21-293)
El Tigre Cross Section 5100N (Drill Hole ET-21-296)
El Tigre Cross Section 5100N (Drill Hole ET-21-300 and ET-21-305)
Photos
Historic El Tigre Mine – 1908 to 1930
Underground Rehabilitation
Access Roads
El Tigre – Core Shack
El Tigre - 2023
El Tigre - 2022
El Tigre – 2021
El Tigre – 2020
El Tigre – Drilling
El Tigre – Area Photos
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