Silver Tiger Metals (SLVR) - Bumper Grades, as "Predicted"
Silver Tiger Metals Inc. is a Canadian company whose management has over 25 years of experience in discovering, financing, and building large hydrothermal silver projects in Mexico. The company has 100% ownership of the Historic El Tigre Mining District, which is spread across a land area of 28,414 hectares.
Matt Gordon caught up with Glenn Jessome, President and CEO, Silver Tiger Metals. He is the founding and the largest shareholder of the company. Glenn is a securities lawyer with over 25 years of experience in the resource sector capital markets. He is a member of the TSXV National Advisory Committee. He is also the Corporate Secretary and a founding shareholder at GoGold Resources Inc.
Silver Tiger Metals was founded in 2010 and is headquartered in Nova Scotia, Canada. The company is listed on the Toronto Stock Exchange (TSX-V: SLVR) and the OTC Markets (OTCQX: SLVTF). El Tigre Silver Corp. and Lunar Gold Holdings Inc. are the company's subsidiaries. The company's flagship asset is the Historic El Tigre Mining District in Sonora, Mexico.
Silver Tiger Metals recently published a press release highlighting new discoveries and high-grade ore. The company currently has $20M in cash flow. The company is currently using 5 drill rigs and plans to add one more rig by next week.
The Sooy Vein
The Sooy vein is a high-grade quartz vein that spans 10s of kilometers. The Footwall Zone that was originally considered a part of the Sooy vein was renamed Crackle Breccia. According to the press release, the company has found 10-15m of 0.5kg-0.75kg right next to a 1-8kg quartz vein.
At the Sooy vein, the company collected 15,000 underground channel samples with every 5ft drift and every 5ft in raises. The company has 5 drill rigs employed that are exploring the 3km strike length at the Sooy vein. It plans to employ an additional 3 rigs by next spring, to deliver a huge amount of high-grade silver ounces. The company is also carrying out infill drilling at the Sooy vein to develop a resource estimate for 2022.
The Seitz Kelly Vein
Silver Tiger Metals is prioritizing the Sooy vein as it's a big resource that does not require discovery. Following this, the company plans to explore the Seitz Kelly vein.
The Seitz Kelly vein is located a few hundred meters towards the east. It features the same depth as Sooy. The company plans to drill this area for both the crackle breccia along with down-dip on the high-grade quartz vein that extends 1km at depth.
This vein was mined between 1908-1930 providing 100Moz silver equivalent ounces at over 2kg. However, this historic mining operation left the existing quartz veins untouched as the mining operation had a 700g-900g cut-off. This led to an entire mine of crackle breccia unexplored.
The crackle breccia spans along the 3km strike length at the Sooy vein. There are 3 rigs employed at the Seitz Kelly vein for drilling the crackle breccia. The company is developing a resource estimate for the vein planned for 2023.
Silver Tiger Metals recently delivered the results for the first 13 holes on the side scale. It featured an 82,000g/t silver equivalent over 0.5m along with 20m of 2.6kg. These 13 holes collectively feature over 100m in strike length.
The company highlighted in the press release that the first 5,500m drilled section was a successful hit. The drilling was performed over the first kilometer of the strike length.
Following this, the company stepped out in 25m intervals towards the north, uncovering the vein along with the crackle breccia zone once again. This demonstrates the potential for the underlying ounces in terms of size and grades.
The company stepped out of all 13 holes and found 0.5kg-1kg silver equivalent with multiple hits. It is important to note that these hits were found in both the FootWall Zone as well as the crackle breccia Zone. As the company awaits the pending assays, it anticipates that the Sooy deposit will feature super high-grade results through the quartz vein and high-grade wide crackle breccia.
Silver Tiger Metals predicts that the Seitz Kelly vein will directly compete with Sooy in terms of grades, output, and resource size. The company anticipates major developments for both veins in the coming 2 months.
Targets 2021 and Beyond
Silver Tiger Metals is looking to conclude the resource estimate for the Sooy vein by the end of 2022. Following this, the company will direct its focus towards the Seitz Kelly vein, which is planned for a resource estimate in 2023. Next, the company plans to explore the northern veins as the drill and exploration program continues.
The company is currently planning to drill off the ounces at both the Sooy and Seitz Kelly veins located 100m apart. Following this, the company will move towards economics and work towards extracting the silver out of the ground at the earliest. Once a resource is in place, the company plans to carry out a PEA (Preliminary Economic Assessment).
Silver Tiger Metals considers these veins as a global resource that will continue to grow over time. The company is looking to get to the economics of the resource quickly along with rapid project advancement.