El Tigre Silver Confirms 5.3 Kilometre Strike Length With Assay Results From Sonora, Mexico
16 June 2014 - 11:30PM
Marketwired
El Tigre Silver Confirms 5.3 Kilometre Strike Length With Assay
Results From Sonora, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2014) - El
Tigre Silver Corp. ("El Tigre" or the "Company")
(TSX-VENTURE:ELS)(OTCQX:EGRTF)(FRANKFURT:5RT) is pleased to
announce additional strong assay results of a recently completed
extensive underground and surface sampling exploration program at
its El Tigre Silver and Gold Project (the "Project") in northern
Sonora, Mexico. El Tigre is reporting assay results from the
Protectora vein area (Figure 1) that include 0.8 meters of 1,148
g/t silver equivalent ("AgEq")-10.50 g/t Au and 518 g/t Ag. A total
of 126 surface and 30 underground samples were collected from the
Protectora vein area.
"We have now received all of the assays from our exploration
program undertaken in the fall of 2013. It was comprised of a total
of 173 underground and 393 surface samples collected as channel
samples from outcrops, as well as 25 stream samples and 27 regional
samples from the main El Tigre vein district. This program has
assisted in the delineation of the extent of the El Tigre vein
system and we are extremely pleased and encouraged with the
results," said Stuart Ross, El Tigre's President and CEO. "The
initial resource calculation was published in a preliminary
feasibility study prepared in accordance with NI 43-101 in August
2013 and was based on a 1.2 kilometer section of the Southern vein
system at the EL Tigre property. The results of our program have
given us the confidence that the vein system remains open to
exploration to the north and south beyond the initial 1.2
kilometers in the report filed August 2013. Receiving these recent
positive assay results from both the surface and the adit samples
from the Protectora vein in the Northern vein area combined with
the work in the Southern vein area reiterates the geologic
interpretation that the complete vein system extends over
approximately 5.3 kilometers with anomalous silver and gold
encountered in sampling."
This program concentrated on the main El Tigre vein district
consisting of the El Tigre Viejo canyon, Gold Hill area and the
Espuelas Canyon area in the area of the Southern vein system, and
the Protectora vein at the Northern vein area. On May 30, 2014
assay results from the El Tigre Viejo canyon and Gold Hill area
were reported and on June 9, 2014 assay results from the Espuelas
canyon area were reported.
The following map shows the assay areas in relation to the
current resource (shown in purple) as defined by National
Instrument 43-101 ("NI 43-101").
To view Figure 1
- Map of Main El Tigre Vein District-Northern and Southern Veins,
click on the following link:
http://media3.marketwire.com/docs/952074-F1.pdf
From 1981 to 1984,
Anaconda Minerals Company ("Anaconda") completed an extensive
district scale exploration program that included 13 drill holes
(4,629 meters) and 400 meters of exploration drifts with
mineralized samples in the Northern vein area of the main El Tigre
vein system. The results of Anaconda's exploration in the Northern
vein area are not included in the Company's Preliminary Feasibility
Study for the El Tigre Silver & Gold Project, Municipio De
Nacozari De Garcia, Sonora, Mexico ("PFS") filed on SEDAR August
15, 2013.
The intention of the
sampling program at the Protectora vein was to confirm Anaconda´s
drilling program and gain a better understanding of the near
surface portion of the vein, as Anaconda's drill intercepts and
underground sampling are only at depth. The Protectora sampling
carried out confirmed the existence mineralization in the upper
extents of the vein, and the underground sampling provided evidence
of the continuity of mineralization over vein depths of up to 200
meters in the down dip direction. This work represents only a
minimum part of the total extension of this vein. Continued
exploration efforts along the upper portions of the northern vein
system are necessary to confirm the extent, thickness, and grades
of the northern vein system.
The Mineral
Resources for the Project, are estimated by Hard Rock Consulting,
LLC of Lakewood Colorado ("HRC") to be 9.875 million tonnes grading
an average of 0.630 g/t Au and 39.7 g/t Ag totaling 24.713 million
ounces of EqAg classified as Indicated Mineral Resources with an
additional 7.042 million tonnes grading an average of 0.589 g/t Au
and 31.1 g/t Ag totaling 16.075 million ounces of EqAg classified
as Inferred Mineral Resources. The base case estimated mineral
resource is based on a 50 g/t AgEq cut-off grade.
The Mineral
Resources are reported in accordance with NI 43-101 and have been
estimated in conformity with generally accepted Canadian Institute
of Mining, Metallurgy and Petroleum "Estimation of Mineral Resource
and Mineral Reserves Best Practices" guidelines. Mineral Resources
are not Mineral Reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the
Mineral Resource will be converted into Mineral Reserves.
The following tables
summarize the most notable assay results (greater than 30 g/t AgEq)
in the Espuelas Canyon area in the Southern vein system at El Tigre
(widths reported are not true widths):
PROTECTORA VEIN SIGNIFICANT RESULTS |
Sample Num. |
Width (m) |
Au (g/Ton) |
Ag (g/Ton) |
AgEq (g/Ton) |
ROCK |
SURFACE |
165292 |
0.40 |
0.27 |
45 |
61.2 |
Protectora Vein |
165297 |
0.40 |
0.72 |
747 |
790.2 |
Protectora Vein |
165343 |
0.30 |
0.07 |
124.6 |
128.8 |
Protectora Vein |
165346 |
0.20 |
0.45 |
241 |
268 |
Protectora Vein |
165349 |
0.20 |
0.14 |
142 |
150.4 |
Protectora Vein |
165351 |
0.45 |
0.45 |
143.2 |
170.2 |
Protectora Vein |
165352 |
0.50 |
0.03 |
46.2 |
48 |
Tuff (El Tigre Formation) |
165357 |
0.70 |
2.16 |
144.4 |
274 |
Protectora Vein |
165364 |
0.65 |
0.27 |
44.8 |
61 |
Tuff (El Tigre Formation) |
165366 |
0.25 |
0.21 |
64.2 |
76.8 |
Protectora Vein |
165376 |
0.60 |
1.1 |
184 |
250 |
Protectora Vein |
165492 |
1.10 |
0.24 |
205 |
219.4 |
Protectora Vein |
ADIT |
165408 |
1.00 |
0.96 |
269 |
326.6 |
Protectora Vein |
165410 |
0.60 |
2.27 |
170 |
306.2 |
Protectora Vein |
165412 |
0.50 |
0.21 |
25.6 |
38.2 |
Tuff (El Tigre Formation) |
165416 |
1.00 |
0.14 |
27 |
35.4 |
Tuff (El Tigre Formation) |
165418 |
0.80 |
10.50 |
518 |
1148 |
Tuff (El Tigre Formation) |
165419 |
1.00 |
0.43 |
8.4 |
34.2 |
Tuff (El Tigre Formation) |
165421 |
0.60 |
0.14 |
123.2 |
131.6 |
Tuff (El Tigre Formation) |
165423 |
1.00 |
0.82 |
219 |
268.2 |
Tuff (El Tigre Formation) |
165424 |
0.70 |
0.17 |
106.8 |
117 |
Tuff (El Tigre Formation) |
165425 |
0.30 |
1.10 |
173 |
239 |
Protectora Vein |
165426 |
1.00 |
0.24 |
25.6 |
40 |
Tuff (El Tigre Formation) |
165427 |
0.55 |
1.54 |
129.4 |
221.8 |
Protectora Vein |
165430 |
0.60 |
0.24 |
43.6 |
58 |
Tuff (El Tigre Formation) |
165431 |
0.65 |
1.32 |
205 |
284.2 |
Tuff (El Tigre Formation) |
165432 |
0.40 |
0.14 |
38.8 |
47.2 |
Tuff (El Tigre Formation) |
165434 |
0.65 |
0.07 |
26.8 |
31 |
Tuff (El Tigre Formation) |
165435 |
1.00 |
0.17 |
25.2 |
35.4 |
Tuff (El Tigre Formation) |
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (AgEq) is calculated using a 60 to 1
ratio of the dollar value of Ag and Au (Ag + Au*60).
The sampling program was undertaken in the 3rd quarter of 2013
and focused on obtaining horizontal channel samples by cutting a
two inch (5 cm) wide channel in the rock, and then chiseling out
the rock with a hammer to collect samples. This method of sampling
is done to collect a series of continuous samples similar to a
horizontal drill hole and will assist in defining any surface
mineralization that could correlate with the underlying drill
intercepts. The sampling program by El Tigre was designed to build
upon the work reported in the PFS as well as providing guidance for
geological work necessary to identify drill targets. The sample
results are not representative of the true thickness at the
locations sampled. The results support the conclusion that the El
Tigre vein system continues to the north of the mineral resource
area with significant silver and gold intercepts within a zone of
alteration/stockwork and support further work in exploring and
developing the 5.3 kilometer El Tigre vein system.
Quality Assurance-Quality Control: The quality assurance-quality
control (QA-QC) of El Tigre and their contractors is as follows:
Samples are collected and handled only by authorized Company
personnel, who collect them utilizing the methods described above
in the second paragraph. Samples are bagged and labeled with unique
sample numbers. Numbered sample data is recorded on site.
Commercially produced standard and blank samples are inserted into
the sample stream at a rate of 1 QA/QC sample per 20 assay samples.
Samples are then transported by El Tigre personnel to the El Tigre
handling facility and stored for shipment.
El Tigre personnel transport samples bagged six to a bag and
sealed to Skyline Assayers & Laboratories ("Skyline")
personnel. Skyline authorized personnel load and transport the
samples through the U.S.-Mexico border to their Tucson, Arizona
sample preparation and assaying facility.
The technical content of this news release has been approved by
Zachary J. Black, SME-RM (No. 4156858RM), Director - Geology and
Resources for HRC, a Qualified Person as
defined in NI 43-101.
About El Tigre
The Company, through its subsidiaries, holds the rights to 100%
of nine mineral concessions, eight comprising of 215 square
kilometres located in north-eastern Sonora, Mexico (the "El Tigre
Property"), and approximately 90 kilometres south of the US-Mexico
border. El Tigre also holds one additional 32 hectare claim
separate from the El Tigre Property. A NI 43-101 Technical Report
Preliminary Feasibility Study has been prepared for the El Tigre
Silver Project and can be found on the Company's profile on SEDAR
at www.sedar.com and on the Company's website at
www.eltigresilvercorp.com.
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements include future plans to implement and
maintain financial systems and controls. Forward-looking statements
involve risks, uncertainties and other factors that could cause
actual results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from these forward-looking statements include those
risks set out in the Company's public documents filed on SEDAR at
www.sedar.com. Although the Company believes that the assumptions
and factors used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date this news release, and
no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
The TSX Venture Exchange has neither approved nor
disapproved of the contents of this press release. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
El Tigre Silver Corp.Stuart RossPresident and CEO (778)
980-7187srross@eltigresilvercorp.comEl Tigre Silver Corp.Rob
GraceCorporate Communications(604)
639-0044rgrace@eltigresilvercorp.comwww.eltigresilvercorp.com
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