Silver Tiger Intersects 126.6 Metres of 0.77 G/T GOLD Equivalent IN the Near -Surface Stockwork Zone Including 19.6 Metres of 1.68 G/T GOLD Equivalent
NEWS RELEASE
SILVER TIGER INTERSECTS 126.6 METRES OF 0.77 g/t GOLD EQUIVALENT IN THE
NEAR -SURFACE STOCKWORK ZONE INCLUDING 19.6 METRES OF 1.68 g/t GOLD
EQUIVALENT
HALIFAX, NOVA SCOTIA – August 27, 2024 – Silver Tiger Metals Inc. ( TSXV:SLVR and
OTCQX:SLVTF) ("Silver Tiger" or the “Company”) is pleased to provide an update on the last remaining
(geotechnical) holes of the Company’s Pre-Feasibility Study (“PFS”) drilling program on its El Tigre
Project in Sonora, Mexico. These new results are highlighting the near surface, consistent mineralization
present.
Drill hole ET-23-513 intersected the Stockwork Zone with 126.6 metres grading 0.77 g/t gold equivalent
or 57.5 g/t silver equivalent from 7.4 to 134.0 metres, consisting of 0.55 g/t gold and 16.6 g/t silver
INCLUDING 19.6 metres grading 1.68 g/t gold equivalent or 126.2 g/t silver equivalent from 94.0 to
113.6 metres, consisting of 1.03 g/t gold and 48.8 g/t silver (Figure 1). This hole highlights the confirms
the strong, near-surface mineralization footprint of the Stockwork Zone and expands the Footwall Zone by
50 metres to the east over the 2023 MRE.
Figure 1 : Stockwork Zone Cross Section 4325 N
Highlighted Intersections
New intersections through the Stockwork gold deposit, comprised of the Footwall, Hanging Wall and high-
grade Keel Zones, are highlighted below, shown on Figure 2 and listed in Table 1.
• Drill hole ET-23-531: 23.4 metres grading 1.30 g/t gold equivalent or 97.6 g/t silver equivalent from
121.4 to 144.8 metres, consisting of 0.29 g/t gold and 75.7 g/t silver INCLUDING 2.2 metres grading
11.75 g/t gold equivalent or 881.5 g/t silver equivalent from 140.0 to 142.2 metres consisting of 1.20
g/t gold and 791.4 g/t silver. The hole highlights the un-mined high-grade veins still present with the
Stockwork Zone.
• Drill hole ET-23-555: 69.1 metres grading 0.73 g/t gold equivalent or 54.8 g/t silver equivalent from
79.9 to 149.0 metres, consisting of 0.57 g/t gold and 12.2 g/t silver INCLUDING 7.0 metres grading
2.13 g/t gold equivalent or 160.0 g/t silver equivalent from 82.0 to 89.0 metres consisting of 2.12 g/t
gold and 0.7 g/t silver. The hole confirms Hanging Wall Zone mineralization 200 metres south of Starter
Pit and expands mineralization profile 25 metres to the west.
• Drill hole ET-23-562: 118.7 metres grading 0.51 g/t gold equivalent or 38.3 g/t silver equivalent from
55.9 to 174.6 metres, consisting of 0.46 g/t gold and 3.5 g/t silver INCLUDING 9.6 metres grading
1.18 g/t gold equivalent or 88.6 g/t silver equivalent from 165.0 to 174.6 metres consisting of 0.80 g/t
gold and 28.3 g/t silver. The hole highlights the un -mined high-grade SK veins still present with the
Stockwork Zone.
Silver Tiger’s CEO, Glenn Jessome, stated, “As we progress to a PFS in September 2024, this release marks
the last of the promising drill results from the PFS Drilling Program” Mr. Jessome further stated, “These
results further de-risk the project and, coupled with the advantageous geotechnical and metallurgical results,
increase the confidence and size of the El Tigre Project.”
On May 20th, Silver Tiger has completed PFS Drilling, totalling 24,550 metres focused on expanding the
Mineral Resource, upgrading the classification, completing metallurgical testwork and geotechnical studies
as it progresses from an exploration to a development project. The value-added PFS progress is on schedule
for publication in H2-2024.
Figure 2: Stockwork Zone – Plan View
Highlights from the concluded Pre-Feasibility Study Drilling Program include the following:
• Expanding known mineralization by 10 to 15%, to the footwall and hanging wall zones, as well as the
higher-grade ‘Keel’ at PEA pit bottom associated with the El Tigre and SK Veins;
• Converting first two to three years of mineralized material in the potential ‘Starter Stockwork Zone’
from Indicated Mineral Resource to Measured;
• Converting a significant portion of the 2 km strike length ‘ultimate’ PEA pit -constrained Inferred
Mineral Resource to Indicated;
• Completion of enhanced PFS Metallurgical Drilling and analysis; and
• Completion of enhanced PFS Geotechnical Drilling and analysis
Mineral Resource Drilling
P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario completed the initial MRE in 2017. On Oct
27, 2023, P&E released an updated El Tigre Project NI 43-101 and NI 43-01 F1 compliant MRE technical
report titled “Technical Report and Updated Mineral Resource Estimate of the El Tigre Silver-Gold Project,
Sonora, Mexico” authored by William Stone, Ph.D., P.Geo.,Yungang Wu, P.Geo., Fred H. Brown, P.Geo.,
Jarita Barry, P.Geo. , David Burga, P.Geo., D. Grant Feasby, P.Eng. , Eugene Puritch, P.Eng., FEC, CET
and David Salari, P.Eng. The MRE has a pit-constrained Indicated Mineral Resource totaling 43.0 million
tonnes containing 818 thousand ounces AuEq grading 0.59 g/t AuEq; and a pit-constrained Inferred Mineral
Resource of 11.5 million tonnes containing 267 thousand ounces AuEq grading 0.72 g/t AuEq (see update
MRE press release dated September 12th 2023).
PEA-level bench optimization of the pit-constrained Mineral Resource highlighted the higher-grade (~0.80
gpt AuEq), low strip ratio (~0.3) potential Starter Stockwork Zone (see PEA press release dated November
1st, 2023). Recommendations of the PEA-level study included increasing Mineral Resource confidence in
potential ‘Starter Stockwork Zone’ and additional exploratory drilling to target the 1) Footwall, 2) Hanging
Wall and 3) ‘Keel’ areas of the Stockwork Zone. P&E were again retained to lead the current El Tigre PFS-
level study. Complete and final assay results are listed in Table 1.
Below, highlighted intersections are enumerated with reference to the three (3) zones targeted (Figure 2):
• Drill hole ET-23-513: This hole highlights the confirms the strong, near -surface mineralization
footprint of the Stockwork Zone some 200 metres north of the PEA ‘Starter Pit’;
• Drill hole ET-23-531: The hole highlights the un -mined high-grade veins still present with the
Stockwork Zone;
• Drill hole ET-23-555: The hole confirms Hanging Wall Zone mineralization 200 metres south of
Starter Pit and expands mineralization profile 25 metres to the west; and
• Drill hole ET-23-562: The hole highlights the un-mined high-grade SK vein still present with the
Stockwork Zone
Table 1—Geotechnical Drill Hole Results
AuEq
Total (2)
AgEq
Total (2) Hole ID Comment From To Length(1) Gold Silver
m m m g/t g/t g/t g/t
ET-23-513 STOCKWORK ZONE 7.4 134.0 126.6 0.55 16.6 0.77 57.5
including 32.0 56.2 24.2 0.77 39.1 1.29 96.5
including 94.0 113.6 19.6 1.03 48.8 1.68 126.2
ET-23-522 Margin - Stockwork No Significant Assays
ET-23-531 STOCKWORK ZONE 35.0 53.5 18.5 0.47 0.9 0.48 36.1
STOCKWORK ZONE 101.0 102.5 1.5 6.10 8.9 6.22 466.3
STOCKWORK ZONE 121.4 144.8 23.4 0.29 75.7 1.30 97.6
including 140.0 142.2 2.2 1.20 791.4 11.75 881.5
STOCKWORK ZONE 187.9 189.5 1.6 3.47 28.7 3.85 288.8
STOCKWORK ZONE 200.0 201.7 1.7 1.59 8.2 1.70 127.5
ET-23-542 Margin - Stockwork No Significant Assays
ET-23-544 Margin - Stockwork 4.6 6.1 1.5 0.52 6.6 0.61 45.7
and 82.5 86.0 3.5 0.24 0.6 0.25 18.6
and 120.5 122.5 2.0 0.70 2.5 0.74 55.3
and 143.3 144.0 0.7 3.63 1.0 3.65 273.6
ET-23-546 Margin - Stockwork No Significant Assays
ET-23-549 Margin - Stockwork No Significant Assays
ET-23-551 Margin - Stockwork 105.5 108.0 2.5 0.63 1.1 0.64 48.4
and 119.0 122.0 3.0 0.41 0.5 0.41 30.9
ET-23-555 STOCKWORK ZONE 11.0 19.8 8.8 0.30 16.2 0.51 38.6
STOCKWORK ZONE 79.9 149.0 69.1 0.57 12.2 0.73 54.8
including 82.0 89.0 7.0 2.12 0.7 2.13 160.0
SK Vein 203.9 206.2 2.3 4.16 32.9 4.59 344.5
Mining VOID 208.2 211.8 3.6 * * * *
and 211.8 213.1 1.3 0.09 7.0 0.18 13.4
Mining VOID 213.1 218.2 5.1 * * * *
ET-23-556 Margin - Stockwork No Significant Assays
ET-23-559 STOCKWORK ZONE 2.4 29.5 27.1 0.31 30.7 0.72 54.1
including 13.9 16.9 3.0 1.49 239.3 4.68 351.2
Seitz Kelly Vein 74.7 79.0 4.3 0.29 21.1 0.57 42.7
ET-23-561 Margin - Stockwork No Significant Assays
ET-23-562 STOCKWORK ZONE 25.3 31.0 5.7 0.59 0.5 0.60 44.8
STOCKWORK ZONE 55.9 174.6 118.7 0.46 3.5 0.51 38.3
Seitz Kelly Vein 165.0 174.6 9.6 0.80 28.3 1.18 88.6
Mining VOID 174.6 179.2 4.6 * * * *
The above holes were drilled to assess geotechnical characteristics of future pit walls , thus not all holes
intercepted mineralization as they were drilled distal from the hanging wall or footwall.
Table 2—Drill Hole Locations
Hole ID Easting Northing Elevation Azimuth Dip Length
ET-23-513
671,135.9
3,384,353.3 1993.3 110 -45 242.7
ET-23-522
671,195.8
3,384,569.2 2108.3 80 -60 141.0
ET-23-531
671,038.6
3,384,545.9 2097.9 90 -60 250.7
ET-23-542
671,037.5
3,384,545.6 2097.8 270 -65 200.0
ET-23-544
671,106.8
3,384,298.3 1968.7 200 -65 170.4
ET-23-546
670,949.4
3,384,942.5 1853.0 350 -65 151.9
ET-23-549
670,967.1
3,384,778.7 1953.7 240 -70 80.8
ET-23-551
671,172.0
3,383,656.6 2006.6 275 -70 216.1
ET-23-555
671,173.7
3,383,655.9 2006.6 45 -60 218.2
ET-23-556
671,229.8
3,384,255.6 2023.6 100 -65 160.3
ET-23-559
671,204.7
3,383,931.9 1893.4 20 -65 170.3
ET-23-561
671,316.4
3,383,618.1 2074.9 90 -60 230.7
ET-23-562
671,297.0
3,383,358.7 1954.5 120 -60 179.2
Figure 3: El Tigre – Conceptual Cross-Section Showing Mineralization Styles
Figure 4: El Tigre—Longitudinal Projection Showing Exploration Potential
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years’ experience
discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger’s 100%
owned 28,414 hectare historic El Tigre Mining District is located in Sonora, Mexico. Principled
environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra
Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa
Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the Property in the Gold
Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining silver veins
in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the
Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was
mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike
for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for
250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all three of these veins
when the price of silver collapsed to less than US20¢ per ounce with the onset of the Great Depression. By
the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4
million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period
was over 2 kilograms silver equivalent per ton.
The El Tigre silver and gold deposit is related to a series of epithermal veins controlled by a north -south
trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex
within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation
that can be up to 150 metres wide. The veins dip steeply to the west and are typically 0.5 metre wide;
however, locally can be up to 5 metres in width. The veins, structures and mineralized zo nes outcrop on
surface and have been traced for 5.3 kilometres along strike in our brownfield exploration area. Historical
mining and exploration activities focused on a 1.6-kilometre portion of the southern end of the deposits,
principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh, Benjamin, Protectora
and the Fundadora exposed veins continue north for more than 3 kilometres. Silver Tiger has delivered its
updated NI 43-101 compliant Mineral Resource Estimate and PEA and is currently drilling to update its
Mineral Resource Estimate and publish a PFS.