Drilling in Mexico by Nova Scotia-based Silver Tiger Metals (TSX-V:SLVR) has uncovered near-surface silver and gold.
The C$68.4 million ($74.8 million) explorer reports top results of 126.6m @ 57.5 grams per tonne (g/t) silver equivalent from 7.4m, including 19.6m @ 126.2g/t silver equivalent from 94m.
Silver Tiger says the final results from the Pre-Feasibility Study (PFS) drilling program at its El Tigre Project confirms the strong, near-surface mineralisation footprint of the Stockwork Zone and expands the Footwall Zone by 50m to the east of the 2023 resource.
The existing resource sits at 86 million silver equivalent ounces in the indicated category and 90.3 million silver equivalent ounces in the inferred category.
Two holes highlighted the unmined “high-grade” veins still present within the Stockwork Zone, returning intercepts of 23.4m @ 97.6g/t silver equivalent from 121.4m, including 2.2m @ 881.5g/t silver equivalent from 140m; and 118.7m @ 38.3g/t silver equivalent from 55.9m, including 9.6m @ 88.6g/t silver equivalent from 165m.
Another hole returned 69.1m @ 54.8g/t silver equivalent from 79.9m, including 7m @ 160g/t silver equivalent from 82m, which confirms Hanging Wall Zone mineralisation 200m south of the starter pit and expands the mineralisation profile 25m to the west.
CEO Glenn Jessome says as Silver Tiger progresses to a PFS in September 2024, these are the last of the promising results from the PFS drilling program.
“These results further de-risk the project and, coupled with the advantageous geotechnical and metallurgical results, increase the confidence and size of the El Tigre Project,” he says.
Silver Tiger completed 24,550m of drilling in May aimed at expanding the resource, shifting more of the resource into the higher confidence categories, and completing metallurgical testwork and geotechnical studies.
The company says the drilling program has expanded the known mineralisation by 10 to 15%, to the footwall and hanging wall zones, as well as the higher-grade Keel at the Preliminary Economic Assessment (PEA) pit bottom associated with the El Tigre and SK Veins.
It will also allow Silver Tiger to shift the first two to three years of mineralised material in the potential Starter Stockwork Zone into the highest confidence measured category, as well as convert a “significant portion” of the 2km strike of ‘ultimate’ PEA pit-constrained inferred resources to indicated.
The El Tigre Project spans 28,414 hectares in the historic El Tigre Mining District.
Silver Tiger has outlined an exploration target of 7 to 9 million tonnes @ 225 to 265g/t for 50 to 75 million silver equivalent ounces.
Write to Angela East at Mining.com.au
Images: Silver Tiger Metals
