VANCOUVER, BRITISH COLUMBIA, Jul 19, 2012 (MARKETWIRE via COMTEX) — El Tigre Silver Corp. (the “Company” or “El Tigre”) /quotes/zigman/585874 CA:ELS 0.00% (otcqx:EGRTF)(frankfurt:5RT) is pleased to provide a drill hole assay report from the most recent four holes from the ongoing Gold Hill core drilling program at its 100% owned El Tigre silver project in Sonora, Mexico.
In this phase of the core drilling program, the Company completed 12 holes for a total of 2293 meters. The Company is currently preparing to begin the next phase of the 5000 meter drilling program on the southern flank of Mule Mountain and some fill-in holes on Gold Hill. The drilling program to date has continued to experience good core recoveries. Assays for the four holes reported in this press release tested the potential for disseminated gold mineralization associated with the El Tigre vein system and for high grade silver and gold values found in the El Tigre vein. Drilling is focused on the southern 1.2 kilometers of the El Tigre vein system and is centered on Gold Hill. Once this last phase of drilling is completed, then the Company will proceed to develop a compliant resource model.
Exploration Highlights:
Drill Hole ET-34 was previously reported, but additional sampling of the core was conducted based on favorable visual characteristics. This assaying resulted in longer intervals of lower grade gold values and these new results are reported below and marked by (iii).
Drill Hole ET-40 was located on the far southern end of the Gold Hill mineralized zone. It intercepted multiple zones of low grade gold values.
Drill Hole ET-41 was located on the same pad as ET-40 and was drilled in a southeast direction. This hole intercepted multiple zones of low grade gold values.
Drill Hole ET-42 was located halfway between Anaconda holes T-2 and T-3. This hole intercepted multiple wide zones of gold mineralization with some silver values.
Drill Hole ET-43 was located east and uphill of Anaconda hole T-3 and was lost before it reached its target.
Drill Hole ET-44 was positioned 1 meter away from ET-43 and it reached its target with only short intervals of silver and gold intercepted.
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From To Interval Silver Gold Ag Equv
Hole # (meters) (meters) (meters) (g/t) (g/t) (g/t)
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ET-34 57.50 64.60 7.10(iii) (i) 0.317 15.85
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90.00 101.00 11.00(iii) (i) 0.344 17.2
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Note 5 188.50 226.50 37.75(iii) 36.15 0.557 63.95
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includes 216.75 217.5 0.75 809.4(ii) 9.51 1284.9
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and 217.5 218.25 0.75 581.8(ii) 1.65 664.3
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Note 6 188.5 226.50 36.25 8.57 0.349 26.02
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ET-40 56.50 63.00 6.50 (i) 0.321 16.05
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66.00 67.00 1.00 (i) 0.327 16.35
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112.50 114.00 1.50 (i) 0.322 16.1
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167.50 170.50 3.00 (i) 0.662 33.1
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196.50 205.00 8.50 (i) 0.934 46.7
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Includes 202.20 203.60 1.40 (i) 3.73 186.5
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ET-41 11.50 13.00 1.50 (i) 0.223 11.15
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66.00 78.50 12.50 (i) 0.415 20.75
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Includes 75.00 78.50 3.50 48.77 0.445 71.0
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109.50 116.50 7.00 (i) 0.320 16.0
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119.50 121.00 1.50 (i) 0.338 16.9
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156.50 158.00 1.50 (i) 2.68 134
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ET-42 26.00 29.00 3.00 (i) 0.510 25.5
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33.00 37.00 4.00 (i) 0.385 19.25
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89.00 93.20 4.20 (i) 0.294 14.7
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95.25 110.50 15.25 26.51 0.550 54.0
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Includes 95.25 98.90 3.65 12.89 1.309 78.34
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Includes 107.00 108.90 1.90 133.61 1.004 183.81
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114.70 125.00 10.30 (i) 0.577 28.85
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129.30 135.00 5.70 32.64 0.164 40.84
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Includes 129.30 130.40 1.10 81.01 0.538 107.91
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139.50 140.50 1.00 (i) 0.626 31.3
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169.50 171.30 1.80 (i) 0.580 29.0
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174.15 175.50 1.35 11.60 0.173 20.3
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178.50 181.50 3.00 (i) 0.309 15.45
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204.00 207.00 3.00 (i) 0.316 15.8
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214.50 225.00 10.50 (i) 0.290 14.5
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Includes 222.00 225.00 3.00 23.30 0.539 50.25
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ET-44 38.00 43.00 5.00 19.92 (i) 19.92
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46.75 50.50 3.75 26.75 0.267 40.1
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Includes 48.25 48.85 0.60 59.80 1.348 127.2
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Note 1: Assay cut-offs are 0.2 g/tonne Au and 10 g/tonne Ag with g/tonne 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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ET-34 90 deg -50 deg 250 m
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ET-40 90 deg -50 deg 236 m
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ET-41 115 deg -60 deg 213 m
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ET-42 90 deg -50 deg 228 m
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ET-44 90 deg -45 deg 93 m
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Note 3: (i) Did not meet cut-off grade. (ii) El Tigre Vein
Note 4: Silver Equivalent is 50 Silver to 1 Gold.
Note 5: The interval 188.5 to 226.5 meters contain the two 0.75 m high grade
intervals previously reported below.
Note 6: This interval does not contain the high grade reported in note 5 was
removed and recalculated.
Note 7: All drill results are stated in core width not true width as not
enough information exists to calculate true width with any certainty.
The Company anticipates the commencement of the second phase of the 2012 core drilling program to begin within the month. Most of the remaining 2750 meters of drilling will be done on the southern flank of Mule Mountain and a few holes will in-fill the drilling pattern on Gold Hill.
Stuart Ross, President and CEO, stated: “Our drilling program to date has confirmed a viable disseminated low grade gold zone in the southern portion of the historic 2.5 kilometer long El Tigre vein system. With the continuation of the 2012 drill program in the southern 1.2 kilometer portion of the vein system, we expect that we will continue to find mineralization in the halo of the El Tigre vein system along with some un-mined high grade vein material.”
Sample Procedure: Drilling was performed by Landdrill International Mexico, SA de CV. The core was 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 standards of quality assurance-and quality control. These samples are then transported by El Tigre geologists to Hermosillo to the Inspectorate sample prep lab where they are crushed and pulped before being shipped to the Reno, Nevada to the Inspectorate assaying lab.
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 kilometers 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 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
