VANCOUVER, BRITISH COLUMBIA, May 02, 2013 (Marketwired via COMTEX) — El Tigre Silver Corp. (the “Company” or “El Tigre”) /quotes/zigman/585874 CA:ELS -5.56% (otcqx:EGRTF)(frankfurt:5RT) is pleased to report further 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 ET13-71 with 0.3 metres of 1,940 g/t Ag. The longest mineralized intercept from this round of samples was in ET13-67 with 85.50 metres of 0.88 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 fourth round of assays and consists of five drill holes (ET13-67 to 71). These holes covered an on strike distance of 180 metres and were located on both Mula Mountain and Gold Hill and centered on Tigre Viejo Canyon. 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 gold veins. All the gold and silver 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:
ET13-67 with 26 metres of 1.78 g/t Au equivalent–6.7 g/t Ag and 1.65 g/t Au
and with 85.5 metres of 0.88 g/t Au equivalent–28.5 g/t Ag and 0.31 g/t
Au
ET13-68 with 54.9 metres of 0.89 g/t Au equivalent-18.2 g/t Ag and 0.53 g/t
Au
ET13-69 with 2.15 metres of 11.87 g/t Au equivalent–571 g/t Ag and 0.45 g/t
Au
ET13-71 with 23 metres of 0.64 g/t Au equivalent-10.8 g/t Ag and 0.42 g/t Au
and with 24.5 metres of 0.5 g/t Au equivalent-3.2 g/t Ag and 0.44 g/t Au
and with 1.35 metres of 12.28 g/t Au equivalent-590.4 g/t Ag and 0.47 g/t
Au
Assay Summary Table of mineralized intervals for these five holes:
Hole Num. From (m) To (m) Interval (m) Ag g/t Au g/t Au Equiv 50:1
ET13-67 19.00 45.00 26.00 6.7 1.65 1.78
47.00 48.20 1.20 9.8 0.55 0.75
51.50 54.50 3.00 3.1 0.35 0.41
57.00 132.50 85.50 28.5 0.31 0.88
Includes 75.00 110.20 35.20 49.6 0.26 1.25
Includes 81.00 83.50 2.50 235.6 0.45 5.16
Includes 82.90 83.50 0.60 668.0 0.79 14.15
Includes 108.25 110.20 1.95 133.3 0.23 2.90
Includes 129.80 132.50 2.70 42.7 1.21 2.06
Includes 131.70 132.50 0.80 127.4 0.31 2.86
ET13-68 0.00 54.90 54.90 18.2 0.53 0.89
Includes 3.05 9.00 5.95 40.4 0.64 1.45
42.00 54.90 12.90 36.8 0.25 0.99
58.00 83.40 22.90 (i) 0.44 0.44
Includes 59.50 60.00 0.50 254.0 0.38 5.46
Includes 77.50 80.50 3.00 (i) 1.41 1.41
ET13-69 1.00 7.00 6.00 (i) 0.34 0.34
11.50 14.50 3.00 (i) 0.77 0.77
20.50 38.00 17.50 (i) 0.80 0.80
40.00 47.00 7.00 10.8 0.73 0.95
50.05 53.00 2.95 (i) 0.23 0.23
72.00 74.00 2.00 94.6 0.10 1.99
92.00 102.00 10.00 157.2 0.17 3.31
Includes 98.50 100.65 2.15 571.0 0.45 11.87
102.00 113.00 11.00 18.9 0.52 0.90
Includes 106.50 112.00 5.50 31.4 0.60 1.23
122.80 124.20 1.40 67.1 0.15 1.49
ET13-70 6.15 16.00 9.85 14.1 0.16 0.44
19.20 23.75 4.55 6.8 0.25 0.39
32.45 50.70 18.25 4.6 0.38 0.47
68.40 68.90 0.50 60.8 0.27 1.49
70.80 77.00 6.20 14.4 0.23 0.52
ET13-71 6.00 7.25 1.25 4.5 0.30 0.39
8.70 10.00 1.30 3.6 0.48 0.55
12.00 13.00 1.00 15.5 2.74 3.05
20.40 24.50 4.10 5.4 0.49 0.60
29.00 52.00 23.00 10.8 0.42 0.64
Includes 31.00 38.70 7.70 26.6 0.52 1.05
56.50 81.00 24.50 3.2 0.44 0.50
101.25 104.65 3.40 270.7 0.22 5.63
Includes 103.30 104.65 1.35 590.4 0.47 12.28
Includes 103.60 103.90 0.30 1940.0 1.88 40.68
120.00 137.30 17.30 109.5 (i) 2.18
Includes 124.95 125.40 0.45 291.0 0.86 6.68
Includes 129.90 130.50 0.60 1320.0 0.17 26.57
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.
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Drill Hole Azimuth Angle Depth
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ET13-67 90.5 -45.6 137.25
—————————————————————————-
ET13-68 89.5 -44.0 100.65
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ET13-69 90.4 -42.4 137.25
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ET13-70 91.0 -46.5 85.40
—————————————————————————-
ET13-71 90.5 -51.0 152.50
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Note 3: (i) 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 11 core holes (ET13-72 to 82) and anticipates all assays to be completed by mid-May.
In the last press release, El Tigre reported that Hole ET13-66 contained 0.4 metres of 3,030 g/t Ag (88.5 opt Ag) and 235 g/t Au (6.86 opt Au). This interval and eight others were assayed from newly prepared pulp and the results confirmed the original assays.
Stuart Ross, President and CEO stated, “These assays continue to confirm the strong mineralization in the 1.2 kilometre area of focus that is part of El Tigre’s 5.3 kilometre strike zone. Once the final 11 holes are assayed and reported we will be compiling the information from this year’s 4,862 metres of drilling with the previous work done on the property into a NI 43-101 compliant technical report. We anticipate this will provide 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
(604) 608-6163 (FAX)
[email protected]
www.eltigresilvercorp.com
SOURCE: El Tigre Silver Corp.
mailto:[email protected]
mailto:[email protected]
mailto:[email protected]
http://www.eltigresilvercorp.com
