Silver Tiger Metals, formerly Oceanus Resources, is a Canada-based company focused on gold & silver exploration in Sonora, Mexico. The Company’s El Tigre Project is located in Sonora, Mexico in the Sierra Madre Occidental. The El Tigre Project is located approximately 90 kilometres south-southeast of Agua Prieta in northern Sonora, Mexico. The Project covers a distance from north to south of approximately 35km.
We caught up with Glenn Jessome, President & CEO of Silver Tiger Metals, following the exciting news release on 2nd February 2021 on results from the Sooy Vein. We had talked previously with Silver Tiger in January for a general update and plans for the company in 2021.
Press Release: Significance of the Results
Silver Tiger has announced intersections of 11.75m at 667.9g/t AgEq within 22.2m of 381.9g/t AgEq approximately 12m beyond the footwall of the Sooy Vein. Silver is inevitably going to have its day. It's an industrial metal and a precious metal. Silver Tiger has traded a massive volume in the last couple of days. The results announced in the press release are great for the Silver Tiger shareholders and create liquidity, share appreciation and available capital at a good valuation.
The press release announced incredible width and grade which speaks for itself. There are some very high-grade intercepts within it and they are seeing some new mineralisation which they haven’t seen at El Tigre before. It is a big body of mineralisation, a wide mineralised zone, with some very high metals results across the board.
Maps of El Tigre - more info can be found on the Silver Tiger Metals website
Announcement in Detail & Details to Focus on
Silver Tiger has a 35km land package with a 5-6km brownfield site where they have done all their work. At the Caleigh Protectora there is another ore chute developing where they have had some great drill results and there is plenty more exploration potential. A lot of those holes were multi kilo hits with a wide zone of Gold. In November, the exploration team put the 3 drills in the Benjamin and they hit the super-wide high-grade mineralisation announced before Christmas.
Then the team went 1.2km south and drilled under the Sooy vein, which is the vein down at the old mine in the flat formation. They drilled a hole on the Sooy vein and only went down 8 levels and found some great results at quite a shallow target. They decided to do one more hole before Christmas to see if they could get to the high-grade. They went through the footwall. They drilled about 12m of totally dead rock and then found a new mineralisation which produced some good results. What they found was a different mineralisation, not a Quartz vein. The team has moved 2 drill rigs there in the third week of January.
What's Next; Results to Expect in the Coming Weeks
Silver Tiger needs a fourth drill to be phased in to keep up with the exploration potential ahead of them and then a fifth. They hope to have a fourth drill running within a month and a fifth probably a month after that. Each drill requires 25 people to keep it running. The new discovery at Benjamin required another drill, so they have one drill working there, cutting core and are on the third hole there now. They like what they are seeing at Benjamin and are hoping for more results to come out soon from there.
Down around the Sooy, they have 2 drills working and have 2 more holes in the core box ready to go to the lab. They will be going a little bit deeper and at some point, they know from the records, they will hit that Sooy vein.
In the next 2 to 3-weeks, there will be some results coming out from Benjamin, and then we will be seeing a steady flow of results from the 2 drills in Sooy/new mineralisation in the flat formation.
Final Thoughts: Just the Beginning
These results are great news for Silver Tiger as they thought they had identified something meaningful and the team seems to have done just that. It is good for the company to get a bit of share recognition and we wait to see the market reaction to this impressive announcement. The company is more excited about what the future holds and the results that will come from the next holes going forward with the drill programme at Sooy. Is this just the beginning for Silver Tiger?