“Historical mining at El Tigre on the Sooy Vein stopped just south of the Espuelas Canyon when the miners lost the vein while drifting,” Silver Tiger’s CEO, Glenn Jessome, said in a press release. “We have discovered a continuation… with these near surface, wide, high-grade intercepts in drill holes 296 and 319.”
Located in Sonora state, at the northern end of the Sierra Madre gold and silver belt, gold at the property was first discovered in 1896. It was mined mainly for silver until it shut down in 1932 when the price of silver collapsed due to the onset of the Great Depression. During the period, the mine produced 353,000 oz. gold and 67.4 million oz. silver from 1.9 million tonnes at an average grade of 2 kg silver-equivalent per tonne.
Two years after acquiring the 284.2-sq.-km property in 2015, Silver Tiger released a resource estimate for the project, which included the El Tigre and Seitz Kelly Veins. The resource pegged indicated resources at 26.8 million tonnes grading 21 grams silver per tonne, and 0.51 gram gold for contained metal of 18 million oz. of silver and 444,000 oz. of gold.
Inferred resources add 6.7 million tonnes grading 88 grams silver per tonne and 1.59 grams gold for 19 million oz. of silver and 112,000 oz. of gold.
The company is currently working on a preliminary economic assessment for El Tigre.
In February, Silver Tiger delivered drill results from the Seitz Kelly vein at the same project.
Highlights included 0.5 metres grading 0.09 gram gold per tonne, 1,665 grams silver, 0.63% copper, 0.84% lead and 0.19% zinc starting from 250 metres in drillhole ET-21-293 and 26 metres grading 0.16 gold, 44.7 grams silver, 0.03% copper, 0.31% lead and 0.59% zinc starting from 233.9 metres in drillhole ET-21-288.
