VANCOUVER, BRITISH COLUMBIA, May 14, 2013 (Marketwired via COMTEX) — El Tigre Silver Corp. (the “Company” or “El Tigre”) /quotes/zigman/585874 CA:ELS -5.26% (frankfurt:5RT)(otcqx:EGRTF) is pleased to report another round of assay results from the 2013 drilling program that was concluded on April 12, 2013. A total of 38 holes were completed and 4,862 metres drilled. This drill program is targeting a 1.2 kilometre stockwork zone on concessions that are part of the Company’s 431 square kilometre ownership in Sonora, Mexico.
The highest silver assay that was reported in this round of samples was in Hole ET13-76 with 0.45 metres of 8,660 g/t Ag. The longest mineralized intercept from this round of samples was in ET13-75 with 59 metres of 1.66 g/t Au equiv. The company also reports these intervals as “core length” and is not “true width” because not enough information exists at this time to determine true width.
This is the fifth round of assays reported by El Tigre, and it consists of six drill holes (ET13-72 to 77). These holes covered were distributed over 500 metres of the zone and were centered on the Browns Shaft area on Mula Mountain. El Tigre believes that the property hosts a classic caldera-related, epithermal low sulphide vein system that extends 5.3 kilometres along strike. The drilling program is focusing on the southern 1.2 kilometre zone that has potential for bulk mineable gold associated with the historic high grade silver and gold veins. All the silver and gold intercepts are oxidized to a reddish brown color after pyrite and base metal minerals.
The following table identifies the most notable intervals in each hole. The assay summary table lists all intervals for these holes.
Assay Interval Highlights:
ET13-75 with 39.5 metres of 0.79 g/t Au equivalent-4.6 g/t Ag and 0.7 g/t Au
and with 59 metres of 1.66 g/t Au equivalent-60.3 g/t Ag and 0.45 g/t Au
and with 1 metre of 19.29 g/t Au equivalent-767 g/t Ag and 3.95 g/t Au
ET13-76 with 1.4 metres of 88.27 g/t Au equivalent-4,143 g/t Ag and 5.41 g/t
Au
including 0.45 metres of 180.17 g/t Au equivalent-8,660 g/t Ag and 6.97
g/t Au
and with 0.7 metres of 23.94 g/t Au equivalent-1,122 g/t Ag and 1.5 g/t Au
ET13-77 with 19.6 metres of 1.45 g/t Au equivalent-6.4 g/t Ag and 1.32 g/t
Au
and with 22.5 metres of 0.58 g/t Au equivalent-9.34 g/t Ag and 0.39 g/t Au
and with 34.1 metres of 0.92 g/t Au equivalent-0.92 g/t Au
Assay Summary Table of mineralized intervals for Holes ET13-72 to 77:
Hole Num. From (m) To (m) Interval (m) Ag g/t Au g/t Au Equiv 50:1
ET13-72 0.00 2.00 2.00 (ii) 1.46 1.46
6.25 7.25 1.00 (ii) 0.21 0.21
9.40 10.40 1.00 (ii) 0.24 0.24
13.50 14.50 1.00 (ii) 0.48 0.48
33.55 35.00 1.45 (ii) 0.45 0.45
40.00 48.00 8.00 5.67 0.41 0.52
50.50 57.50 7.00 (ii) 0.38 0.38
63.00 66.00 3.00 (ii) 0.50 0.50
72.50 74.50 2.00 (ii) 6.03 6.03
132.00 133.00 1.00 56.00 0.14 1.26
138.50 140.40 1.90 18.90 (ii) 0.38
147.10 153.00 5.90 78.85 0.12 1.70
Includes 148.00 148.40 0.40 716.00 0.31 14.63
Includes 149.60 149.80 0.20 353.00 0.17 7.23
ET13-73 47.50 49.50 2.00 (ii) 0.21 0.21
93.50 94.50 1.00 27.50 (ii) 0.55
ET13-74 7.50 9.50 2.00 (ii) 0.43 0.43
22.40 25.45 3.05 (ii) 1.11 1.11
34.00 35.00 1.00 (ii) 0.96 0.96
37.00 46.50 9.50 (ii) 1.38 1.38
ET13-75 45.00 46.00 1.00 4.70 0.58 0.67
54.00 93.50 39.50 4.63 0.70 0.79
Includes 65.50 68.50 3.00 7.93 2.05 2.21
99.00 158.00 59.00 60.34 0.45 1.66
Includes 100.00 101.50 1.50 (ii) 2.16 2.16
Includes 114.50 122.50 8.00 46.02 0.29 1.21
Includes 125.50 137.65 12.15 27.80 0.24 0.80
Includes 137.65 138.65 1.00 767.45 3.95 19.30
Includes 137.65 138.10 0.45 1,340.00 7.67 34.47
Includes 138.65 146.40 7.75 47.41 0.31 1.26
Includes 146.40 147.30 0.90 741.00 0.49 15.31
Includes 148.50 153.40 4.90 43.30 0.25 1.12
Includes 153.40 154.20 0.80 780.00 0.70 16.3
Includes 154.20 158.00 3.80 39.14 0.65 1.43
ET13-76 34.10 35.10 1.00 (ii) 0.23 0.23
36.10 45.50 9.40 14.28 0.76 1.05
Includes 37.10 38.00 0.90 55.10 1.53 2.63
Includes 42.20 42.70 0.50 24.00 1.72 2.20
Includes 44.00 45.50 1.50 7.50 1.75 1.90
58.30 62.85 4.55 10.24 0.32 0.52
69.80 72.65 2.85 6.52 0.47 0.60
79.60 97.10 17.50 10.61 0.62 0.83
100.70 114.35 13.65 504.77 1.05 11.14
Includes 102.85 104.25 1.40 4,143.21 5.41 88.27
Includes 103.80 104.25 0.45 8,660.00 6.97 180.17
112.15 112.85 0.70 1,122.14 1.50 23.94
117.35 120.00 2.65 6.89 0.24 0.38
ET13-77 0.00 19.60 19.60 6.40 1.32 1.45
Includes 8.50 10.00 1.50 8.60 3.98 4.15
11.50 12.50 1.00 6.50 3.12 3.25
13.80 15.80 2.00 7.50 2.37 2.52
21.85 28.60 6.75 8.80 1.27 1.45
36.20 37.50 1.30 16.00 0.24 0.56
39.40 40.20 0.80 6.60 0.58 0.71
42.40 44.65 2.25 7.20 1.22 1.36
57.50 80.00 22.50 9.34 0.39 0.58
83.00 84.40 1.40 8.20 0.21 0.37
85.40 93.50 8.10 6.91 1.45 1.59
97.35 99.70 2.35 (ii) 1.51 1.51
102.70 104.70 2.00 (ii) 1.49 1.49
108.00 142.15 34.15 (ii) 0.92 0.92
Includes 110.00 111.00 1.00 (ii) 1.89 1.89
Includes 114.50 116.50 2.00 (ii) 1.79 1.79
Includes 119.70 121.00 1.30 (ii) 2.43 2.43
Includes 133.50 135.00 1.50 18.30 2.47 2.84
Includes 138.50 139.15 0.65 (ii) 2.13 2.13
Note 1: Assay cutoffs are 0.2 g/t Au and 10 g/t Ag with g/t as gram per
tonne.
Note 2: Drill hole direction, angle and depth.
—————————————————————————-
Drill Hole Azimuth Angle Depth
—————————————————————————-
ET13-72 92.0 -43.5 161.65
—————————————————————————-
ET13-73 90.5 -57.5 146.40
—————————————————————————-
ET13-74 93.2 -72.5 70.15
—————————————————————————-
ET13-75 92.3 -54.5 161.65
—————————————————————————-
ET13-76 89.6 -71.6 140.30
—————————————————————————-
ET13-77 94.1 -73.5 146.40
—————————————————————————-
Note 3: (ii) Did not meet cut-off grade.
Note 4: All intervals reported as core length in metres.
Note 5: Gold Equivalent (Au Equiv) is calculated using a 50 to 1 ratio of
the dollar value of Ag and Au.
El Tigre’s objective for this drilling program was to obtain up to 5,000 metres of diamond drill core to provide sufficient information to develop a resource model over the 1.2 kilometre long mineralized zone centered on Gold Hill and Mula Mountain. This objective was met, and with the drill holes from 2011 and 2012, the Company has the data to complete a resource model and new technical report. Any potential quantity and grade is conceptual in nature. There has been insufficient exploration at the El Tigre Property to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.
The Company is awaiting assay results for the last five core holes (ET13-78 to 82) and anticipates all assays to be completed by mid-May and the final report to be made soon afterward.
Stuart Ross, President and CEO stated, “This year’s drilling program has been hugely successful as evidence by the excellent assays. We are looking forward to getting all this information compiled once the final five holes are completed in the assay lab. Our work will then focus on completing the planned NI 43-101 technical report with the El Tigre property’s first resource model.”
Quality Control-Quality Assurance: Drilling was performed by Major Drilling de Mexico, SA de CV from Hermosillo, Sonora. The core is retrieved by El Tigre geologists and taken to the secure core storage building for measuring, logging, splitting and bagging. Standards and blanks are inserted randomly every 20 samples to ensure a high standard of quality assurance-quality control during the assaying process. Prepared samples are then transported by El Tigre geologists to Hermosillo to the Skyline Laboratories, Inc. shipment facility. From there they are transported by Skyline personnel to Tucson Arizona where they are crushed and pulped for assaying in the Skyline lab. Gold is derived from a 30 gram charge, fire assayed and determined by gravimetric methods. Silver is determined by first dissolving the sample in aqua regia followed by Atomic Absorption (AA). Over limits are determined by fire assay and gravimetric methods.
The technical content of this news release has been approved by Steven D. Craig, CPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.
About El Tigre Silver Corp.:
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 431 square kilometres located in north-eastern Sonora, Mexico (the “El Tigre Property”). El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A technical report has been prepared for the El Tigre Property 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.
Cautionary Statements:
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 assay results, expected drilling programs, timing for technical report and future plans. 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 of 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.
Potential – the potential quality and grade is conceptual in nature. There has been insufficient exploration at the El Tigre Silver property to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.
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.
Contacts:
El Tigre Silver Corp.
Stuart Ross
President and CEO
(778) 980-7187
[email protected]El Tigre Silver Corp.
Steven Craig
VP Exploration
(775) 815-8456
[email protected]El Tigre Silver Corp.
Rob Grace
Corporate Communications
(604) 639-0044
[email protected]
www.eltigresilvercorp.com
SOURCE: El Tigre Silver Corp.
mailto:[email protected]
mailto:[email protected]
mailto:[email protected]
http://www.eltigresilvercorp.com
