Precious Metals
August 21, 2023

Unveiling the Legacy of El Tigre: A Historical Exploration of Silver and Gold Mines in Sonora

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.

Silver Tiger Metals Inc.(TSXV: SLVR ;OTCQX:SLVTF), a Canadian enterprise, currently holds 365 million outstanding shares and a Market Capitalization of $73 million. The leadership of the company brings over a quarter-century of expertise in identifying, funding, and progressing significant hydrothermal silver ventures in Mexico. Encompassing 28,414 hectares in Sonora, Mexico, the company is the custodian of the extensive Historic El Tigre Mining District. Central to Silver Tiger's values is an unwavering commitment to upholding principles of environmental responsibility, social well-being, and effective governance

The Glittering Legacy of El Tigre: A Historical Journey Through Sonora's Silver and Gold Mines

  • El Tigre historic mine district is situated in Sonora, Mexico.
  • It lies at the northern end of the Sierra Madre silver and gold belt, hosting numerous epithermal silver and gold deposits including Dolores, Santa Elena, and Las Chispas.
  • Gold discovery in 1896 at Gold Hill area marked the beginning of mining activities, with the Brown Shaft established in 1903.
  • Shift in focus to high-grade silver veins, specifically the El Tigre Vein, Seitz Kelley Vein, and Sooy Vein.
  • Middle El Tigre vein's underground mining extended 1,450 meters along strike, spanning 14 levels to a depth of about 450meters.
  • Seitz Kelley Vein was mined along a 1-kilometerstrike to a depth of roughly 200 meters.
  • Sooy Vein was mined along a 250-meter strike to a depth of around 150 meters.
  • Halt in mining across all three veins due to silver price plummeting to less than 20¢ per ounce during the onset of the Great Depression.
  • Mine closure in 1930 after producing an estimated 353,000 ounces of gold and 67.4 million ounces of silver from 1.87million tons.
  • Average grade extracted during this period surpassed 2 kilograms silver equivalent per ton.

Exploration Potential At El Tigre

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 upto 150 meters wide. The veins dip steeply to the west and are typically 0.5meter 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 5.3kilometers 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 the Sooy, Benjamin, Seitz Kelly and El Tigre high grade quartz silver veins and the emerging high grade black shale horizon that surrounds these veins. Silver Tiger’s exploration at El Tigre has identified  four mineralization styles. The first is the epithermal veins, the second is the stock work zone, the third is the black shale  zone and the fourth is the sulphide zone.

Mineralization Styles in the Northern View: ConceptualCross-Section of the El Tigre Deposit

Silver Tiger has begun underground rehabilitation of the Historic El Tigre Mine. Under ground rehabilitation is being conducted on the Level 7 main portal to access the historic workings on the Sooy, El Tigre and Seitz Kelly veins. This under ground development will allow Silver Tiger to begin drilling from underground drill stations.

A Look Into The Corporate Financings of Silver Tiger:

Silver Tiger is well financed and has completed numerous successful placements from institutional investors over the past three years, the company completed:

  •  (July 28/2020) $11Mfinancing led by billionaire Eric Sprott @ $0.30 per share
  • (March 2/2021) $23MBought deal @ $0.60 per share
  •  (March 17/2022) $23MBought deal @ $0.57 per share
  • (February 24/2023)$18M Bought deal @ $0.31 per shares

Estimation of Resources at El Tigre

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 at0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59g/t (88 g/t silver and 0.52 g/t gold). The complete National Instrument 43-101technical report is available on the company’s website below under Mineral Resource Estimate and Technical Report and on SEDAR under the company’s profile.