El Tigre Silver Drills 72.55 m of 2.26 g/t Au Equivalent-24.8 g/t Ag and 1.76 g/t Au
The highest gold and silver assay that was reported was in Hole ET 13-51 with 995 g/t Ag and 11.0 g/t Au
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/13 -- El Tigre Silver Corp. (the "Company" or "El Tigre") (TSX VENTURE: ELS)(OTCQX: EGRTF)(FRANKFURT: 5RT) is pleased to report that the drilling program started on January 18, 2013 continues to perform well with 31 holes completed and 3,714 meters drilled. El Tigre is drilling on concessions that are part of the Company's 431 square kilometer ownership in Sonora, Mexico.
Stuart Ross, President and CEO stated, "We are very encouraged to receive these excellent assay results from our drilling program. They continue to confirm the strong mineralization in the 1.2 kilometer area of focus that is part of El Tigre's 5.3 kilometer strike zone. We have approximately nine more holes to be drilled and core from eighteen holes on site or in the assay lab, I am confident we will continue to deliver strong results to our shareholders as the drill program moves forward."
El Tigre believes that the property hosts a classic Mexican caldera-related, epithermal low sulphide vein system that extends 5.3 kilometers along strike. The drilling program is focusing on the southern 1.2 kilometer zone that has potential for bulk mineable gold associated with the historic high grade silver-gold veins. All the gold and silver intercepts are oxidized from pyrite and base metal minerals to a reddish brown color.
This is the third drilling campaign that the Company has conducted in three years. The seven holes that the Company is reporting are from the old Brown's Shaft area of Mula Mountain where the El Tigre vein and Seitz-Kelly vein split.
The following table highlights the best intervals in each hole while the assay summary table lists all intervals for these holes. The highest gold and silver assay that was reported from these 7 holes was in Hole ET13-51 with 1.0 meter of 995 g/t Ag and another 1.0 meter 11.0 g/t Au.
Assay Interval Highlights:
-- ET13-51 with 21.95 meters of 1.02 g/t Au equivalent- 6.38 g/t Ag and
0.89 g/t Au
-- And with 25.5 meters of 3.34 g/t Au equivalent- 20.9 g/t Ag and 2.93
g/t Au
-- And with 25.1 meters of 2.23 g/t Au equivalent- 43.93 g/t Ag and
1.35 g/t Au
-- ET13-52 with 32.9 meters of 0.93 g/t Au equivalent- 17.0 g/t Ag and 0.59
g/t Au
-- ET13-53 with 46 meters of 1.03 g/t Au equivalent- 14.37 g/t Ag and 0.74
g/t Au
-- ET13-54 with 31.6 meters of 1.44 g/t Au equivalent- 44.71 g/t Ag and
0.54 g/t Au
-- ET13-55 with 47.5 meters of 1.22 g/t Au equivalent- 34.71 g/t Ag and
0.53 g/t Au
-- ET13-56 with 70.4 meters of 2.16 g/t Au equivalent- 55.8 g/t Ag and 1.04
g/t Au
-- ET13-57 with 12.8 meters of 1.40 g/t Au equivalent- 16.22 g/t Ag and
1.08 g/t Au
Summary of mineralized intervals for these seven holes:
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Interval Au Equiv
Hole Num. From (m) To (m) (m) Ag g/t Au g/t 50:1
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ET13-51 4.0 5.5 1.5 1.40 0.35 0.38
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7.0 8.5 1.5 (i) 0.27 0.27
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12.0 15.0 3.0 (i) 0.12 0.12
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15.0 18.15 3.15 33.00 0.92 1.58
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22.25 44.2 21.95 6.38 0.89 1.02
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Includes 39.0 41.0 2.0 41.95 2.97 3.80
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48.5 73.0 25.5 20.90 2.93 3.34
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Includes 55.5 60.5 5.0 38.10 5.58 6.35
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Includes 57.5 58.5 1.0 82.10 11.00 12.64
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105.1 134.2 25.1 43.93 1.35 2.23
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Includes 117.45 120.5 3.05 373.00 1.27 8.73
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Includes 117.45 118.45 1.0 995.00 2.66 22.56
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142.5 144.6 2.1 42.56 0.21 1.06
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ET13-52 115.2 146.1 32.9 17.00 0.59 0.93
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ET13-53 0 46.0 46.0 14.37 0.74 1.03
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Includes 43.0 43.8 0.8 153.00 0.65 3.71
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64.05 66.7 2.65 9.54 1.79 1.98
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71.6 81.6 10.0 109.55 1.26 3.45
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Includes 75.5 80.15 4.65(ii) 427.00 2.42 10.96
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ET13-54 10.0 41.65 31.65 44.71 0.54 1.44
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Includes 33.0 41.65 8.65 129.72 0.96 3.55
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Includes 35.75 37.35 1.6 548.80 0.91 11.89
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60.0 62.0 2.0 (i) 0.35 0.35
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64.75 65.8 1.05(ii) 297.00 0.63 6.57
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75.7 76.8 1.1 (i) 0.48 0.48
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ET13-55 2.4 6.2 3.8 7.53 0.28 0.43
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12.5 60.0 47.5 34.71 0.53 1.22
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Includes 41.5 46.35 4.85 201.82 0.76 4.79
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Includes 43.0 44.5 1.5 372.00 1.20 8.64
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ET13-56 0 70.4 70.4 55.80 1.04 2.16
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Includes 35.0 51.3 16.3 129.79 0.61 3.2
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Includes 41.45 43.0 1.55 370.00 1.17 8.56
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Includes 55.0 60.0 5.0 17.04 3.50 3.84
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Includes 63.0 69.4 6.4 231.20 0.54 5.16
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Includes 63.0 64.5 1.5 651.00 0.58 13.6
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ET13-57 52.0 64.8 12.8 16.22 1.08 1.40
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Includes 54.5 55.7 1.2 81.8 4.70 6.34
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87.4 88.5 1.1 5.90 0.48 0.59
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Note 1: Assay cutoffs are 0.2 g/t Au and 10 g/t Ag with g/t as gram per
tonne.
Note 2: Drill hole direction, angle and depth.
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Drill Hole Azimuth Angle Depth
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ET13-51 90 deg -65 deg 149.1
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ET13-52 110 deg -46 deg 173.1
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ET13-53 90 deg -60 deg 102.95
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ET13-54 90 deg -46 deg 84.35
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ET13-55 90 deg -65 deg 106.1
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ET13-56 90 deg -52 deg 87.7
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ET13-57 95 deg -47 deg 93.7
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Note 3: (i) Did not meet cut-off grade. (ii) El Tigre Vein
Note 4: All intervals reported as core length in meters and does not reflect
true width.
El Tigre's objective for this drilling program is 5,000 meters of diamond core for approximately 40 holes. As of the end of March, 31 holes have been completed with 3,714 meters drilled. At current advancement rates, the program is anticipated to be completed around mid-April with all assays returned by the end of April.
The remaining 1,286 meters of the 2013 program will fill-in around earlier holes as needed for the planned resource block model, and test other targets northward to the Camp area. The Company currently has core from twelve holes (ET13-58 to 69) in the assay laboratory and another six in camp waiting for transport to assay laboratory.
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.
About El Tigre Silver Corp.:
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 431 square kilometers located in north-eastern Sonora, Mexico (the "El Tigre Property"). El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A technical report has been prepared for the El Tigre Property 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.
Cautionary Statements:
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 assay results, expected drilling programs and future plans. 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 of 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
(778) 980-7187
srross@eltigresilvercorp.com
El Tigre Silver Corp.
Steven Craig
VP Exploration
(775) 815-8456
scraig@eltigresilvercorp.com
El Tigre Silver Corp.
Rob Grace
Corporate Communications
(604) 639-0044
(604) 608-6163 (FAX)
rgrace@eltigresilvercorp.com
www.eltigresilvercorp.com