El Tigre Silver Corp. (the “Company” or “El Tigre”) is pleased to report that the drilling program started on January 18, 2013 and is proceeding rapidly with 10 holes completed in a 30 to 40 hole scheduled program. El Tigre is located on concessions that are part of the Company’s 431 square kilometer concession ownership in Sonora, Mexico.
Ten holes (ET-45 to ET-54) for 1203 meters have been completed to date. These holes were centered in Tigre Viejo Canyon between Gold Hill and the southern ridge of Mula Mountain. Each hole penetrated the mineralized stockwork zone that is both in the hanging wall and foot wall of the El Tigre high-grade vein. At least two of these holes penetrated the Seitz Kelly vein, which is located to the east of the El Tigre vein.
The overall Gold Hill program is scheduled to drill 5000 meters of core in 30 to 40 holes. The first phase of this program will be 2,700 meters and will focus on the 1.2 kilometers of the El Tigre vein halo zone. This target is found on the southern portion of the claims, from the south side of Mula Mountain and continuing southward over Gold Hill. The second phase of the 2013 program consists of 2,300 meters, which will fill-in around Phase 1 holes as needed for the resource block model and test other targets northward to the Camp area.
The Company expects the first phase of the drilling program to progress quickly with assay results in hand by the end of March. Work will also be underway to update the Company’s NI-43-101 technical report, which is expected to include the first reported gold and silver resource based on this phase of drilling along with prior programs. The technical report is scheduled for completion near the end of the second quarter of 2013.
Stuart Ross President and CEO stated, “We are very pleased with the progress and professionalism of Major Drilling. They are keeping costs down, which means we will stay within budget for this very important program.”
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.
