VANCOUVER, BRITISH COLUMBIA, Jun 09, 2014 (Marketwired via COMTEX) — El Tigre Silver Corp. (“El Tigre” or the “Company”) /quotes/zigman/585874/realtime CA:ELS 0.00%(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 historic mine levels 3.5 and 4 in the Espuelas Canyon area (Figure 1) that include 2.0 metres of 702 g/t Ag. A total of 173 underground and 393 surface samples were collected as channel samples from outcrops, as well as 25 stream samples and 27 regional samples from the main El Tigre Vein district.
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. 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 in a news release. Assay results from the Protectora vein will be released as they become available for publication.
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, please visit the following link: http://media3.marketwire.com/docs/950843_FIG.pdf .
The intention of the sampling program at the Espuelas Canyon area of the Southern vein area was to support the belief in an extension to the resource from 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 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 silver equivalent (“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):
LEVEL 3.5 SIGNIFICANT RESULTS
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Sample Au Ag Ag Eq
Num. Width (m) (g/Ton) (g/Ton) (g/T) ROCK
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165557 1.95 0.81 79.2 127.8 Tuff (El Tigre Formation)
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Quartz Vein Hanging wall
165558 0.90 0.67 30.3 70.5 El Tigre Vein
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165561 0.3x0.4 2.21 171 303.6 El Tigre Vein
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165565 0.4x0.2 0.03 51 52.8 Fracturing Zone
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165566 0.4x0.1 0.82 190 239.2 Quartz Vein
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165567 0.3x0.1 0.75 19.5 64.5 Quartz Vein
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165568 0.8 0.21 47.1 59.7 Tuff (El Tigre Formation)
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165569 1.2 0.41 34.4 59 Tuff (El Tigre Formation)
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165571 1.5 0.99 44.8 104.2 Hanging wall El Tigre Vein
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165572 1 0.55 37.3 70.3 Foot wall El Tigre Vein
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Backfill El Tigre Vein
165573 1.9 1.26 143.8 219.4 Stope
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Backfill El Tigre Vein
165574 1.9 1.1 161 227 Stope
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Backfill El Tigre Vein
165575 2.2 1.85 320 431 Stope
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LEVEL 4 SIGNIFICANT RESULTS
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Sample Au Ag Ag Eq
Num. Width (m) (g/Ton) (g/Ton) (g/Ton) ROCK
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Cliff Formation, weak Iron
625255 2.00 0.02 98.4 99.5 Oxides
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Cliff Formation, weak Iron
625256 1.70 0.01 41.4 41.9 Oxides
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Cliff Formation, Silica
625257 2.00 0.02 91.2 92.3 microveinlets
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Cliff Formation, weak Iron
625259 2.00 0.02 47.2 48.1 Oxides
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Cliff Formation,
165104 2.00 0.31 16.8 35.4 mod/strong Iron Oxides
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Cliff Formation, strong
165105 2.00 0.41 28.8 53.4 Hem-Lim in vnlts.
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Cliff Formation, strong
165106 2.00 1.13 22.8 90.6 Hem-Lim in vnlts.
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Cliff Formation, strong
165107 2.00 0.75 9.2 54.2 Hem-Lim in vnlts.
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Cliff Formation, strong
165108 2.00 0.62 5.2 42.4 Hem-Lim in vnlts.
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Cliff Formation, weak Hem
165114 2.00 0.17 21.6 31.8 & Bx development
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Cliff Formation, moderate
165123 2.00 0.62 2.6 39.8 Hem-Lim in vnlts.
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Cliff Formation, moderate
165124 2.00 0.73 7.4 51.2 Hem-Lim in vnlts.
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165138 2.00 0.24 21.6 36.0 Cliff Formation.
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Cliff Formation, weak
Silica microveinlets mod.
165157 2.00 0.21 22.8 35.4 Hem-Lim
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Strong Qtz Veinlets/Qtz
165167 2.00 0.24 702.0 716.4 Vein
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165171 0.50 0.14 47.8 56.2 Qtz Vein
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Cliff Formation, Strong
165173 0.60 0.03 29.8 31.6 Qtz Veinlets, Hem veinlets
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Note 1: All intervals reported as core length in metres.
Note 2: Panel sample was used to allow for consistent weight of sample
taken.
Note 3: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the
dollar value of Ag and Au (Ag + Au(i)60).
The sampling program by El Tigre was designed to support 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 southern El Tigre Vein system.
“The silver and gold occurrence to the north of our indicated and inferred resource provides us hard data that further validates our belief that our current resource area will continue to expand,” said Stuart Ross, El Tigre Silver’s President and CEO. “The initial resource calculation was published in a NI 43-101 Technical Report in August 2013 and was based on a 1.2 kilometre section of the Southern vein system at the EL Tigre property. We look forward to our next set of assays from the northern vein system at the El Tigre property.”
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 Tuscan, 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 43-101Technical 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.
Contacts:
El Tigre Silver Corp.
Stuart Ross
President and CEO
Telephone: (778) 980-7187
[email protected]
El Tigre Silver Corp.
Rob Grace
Corporate Communications
Telephone: (604) 639-0044
[email protected]
www.eltigresilvercorp.com
SOURCE: El Tigre Silver Corp.
