RCS - Silver Tiger Metals - Strong Metallurgical Test Results at El Tigre

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24/08/2023 08:15

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RNS Number : 2880K  Silver Tiger Metals Inc  24 August 2023

Strong Metallurgical Test Results at El Tigre

 

HALIFAX, NS / ACCESSWIRE / August 24, 2023 / Silver Tiger Metals Inc.
(TSXV:SLVR) and (OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased
to report gold and silver extraction results from initial scoping-level
metallurgical test work from its high-grade silver-gold El Tigre Project in
Sonora, Mexico (the "El Tigre Project"). The Corporation also expects to
release an updated and expanded mineral resource estimate and Preliminary
Economic Assessment (PEA) in Q3 2023.

To see complete release, click here:
https://www.accesswire.com/776457/Strong-Metallurgical-Test-Results-at-El-Tigre
(https://www.accesswire.com/776457/Strong-Metallurgical-Test-Results-at-El-Tigre)

METALLURGICAL TEST WORK

Preliminary metallurgical work demonstrates excellent recoveries of silver,
gold, copper, zinc and lead in the Sulphide and Black Shale Zones with silver
equivalent recoveries of 95.7% and 98.1%, respectively. The newly discovered,
high-grade Sulphide and Black Shale Zones have been the focus of recent
drilling and they show great exploration potential being open both laterally
and at depth.

Previous drilling of the Surface Stockwork Zone has indicated a mineralized
zone in excess of 100 meters true width. With high recoveries of 78.1% silver
equivalency in column testing, simulating a heap leaching process, the
Corporation sees the potential for an open pit low-cost heap leach process.
This open pit heap leach process will be defined as part of the upcoming PEA.

Results reported in this news release pertain to test work conducted by SGS
Lakefield in Ontario in 2022 and 2023 on the Au-Ag mineralization from the
Surface Stockwork Zone and Ag-Au-Zn-Cu-Pb mineralization from the Black Shale,
Sulphide Zones and High-Grade Silver Veins. An updated and expanded mineral
resource estimation and PEA for the El Tigre deposit is expected to be
released during Q3 2023.

Highlights Include:

·      Preliminary rougher flotation tests of the Black Shale Zone
recovered 91.1% copper, 98.2% lead, 98.8% zinc, 91.9% gold, and 98.4% silver.
Overall Silver Equivalent Recovery - 98.1%

·      Preliminary rougher flotation tests of the Sulphide Zone
recovered 94.2% copper, 95.3% lead, 97.6% zinc, 79.6% gold, and 96.0% silver.
Overall Silver Equivalent Recovery - 95.7%

·      Surface Stockwork Zone column test extractions recovered - 83.1%
Gold, 64.3% Silver at 3/8-in crush size (leach profile shown in Figure 3) with
no requirement for agglomeration indicated in these tests. Overall Silver
Equivalent Recovery - 78.1%

·      Also notable is the low cyanide consumption of 0.68 kg per tonne
and lime consumption of 2.33 kg per tonne

Glenn Jessome, President and CEO, stated: "Based on representative samples
from the Sulphide, Black Shale and Surface Stockwork Zones, we are pleased to
report very high silver, gold and base metal recoveries. For flotation tests
of the Sulphide and Black Shale Zones we note tremendous recoveries of 96 to
98% total silver equivalency for the milling process on the underground
deposit; and for the open pit heap leach column tests we note that silver
equivalency recoveries average above 78%, which represents a high recovery for
a low-cost leaching process."

Mr. Jessome further stated: "Metallurgy is critically important to
understanding the potential economics of a mineral project and these new
results give us great encouragement that the upcoming PEA may show robust
economics for the underground and open pit deposits."

Estimated and Expanded Mineral Resource Estimate and PEA

An updated and expanded mineral resource estimation and PEA for the El Tigre
deposit is expected to be released during Q3 2023.

Black Shale and Sulphide Flotation Samples and Testing

Two (2) drill hole composites were sampled and shipped to SGS Lakefield for
the flotation scoping test work. Shown in Figure 1, these two drill holes
(ET-22-436, Black Shale Zone; ET-22-443 Sulphide Zone) were crushed, ground to
74 microns and subjected to rougher flotation to produce two (2) concentrates
- copper/lead (with gold and silver) and zinc (with gold and silver).

Standard flotation methods were carried out to produce the copper/lead
concentrate while depressing the zinc followed by a zinc flotation. Testing to
optimize recovery and cleaner concentrate grades is underway and will be
reported when finalized. This ongoing testing will confirm marketable grades
and confirm associated net smelter return (NSR) of the products.

Figure 1: Long section looking east of 2023 metallurgical samples (green) in
relation to the Sulphide (red) and Black Shale Zones (orange).

 

 

 

The calculated head samples for the testing are shown in Table 1 below:

 Zone         Hole #     Au (g/t)  Ag (g/t)  Cu (%)  Pb (%)  Zn (%)
 Black Shale  ET-22-436  0.23      384       0.39    2.33    6.36
 Sulphide     ET-22-443  0.15      645       0.81    2.51    5.63

Indicative recoveries from the scoping testing are shown based on the
calculated head from the testing in Table 2 below:

 Indicative Recoveries  % Cu  %Pb   %Zn   %Au   %Ag
 Black Shale            91.1  98.2  98.8  91.9  98.4
 Sulphide               94.2  95.3  97.6  79.6  96.0

Metallurgical Sampling - Surface Stockwork Zone

The samples consisted of five (5) drill holes within the Surface Stockwork
Zone and were crushed and composited for the metallurgical testing to give
approximate average deposit grades. The location and details of the holes are
given in Figure 2 and Table 1. The column testing (C1 and C2) was done on
these five (5) hole composites.

Figure 2: Plan view of 2023 metallurgical samples (green) in relation to the
Surface Stockwork Zone (purple) and Veins (red).

 

 

 

The summary of the five (5) holes analysis are shown in Table 3:

 U/G Heap Leach Samples
 Hole #  Sample #      Weight (Kg)  Au (g/t)  Ag (g/t)  AuEq (g/t)*  AgEq (g/t)*
 ET-16-085      C-1,2  83.0         0.42      30.71     0.78         66.27
 ET-16-087      C-1,2  74.1         0.82      3.29      0.86         72.71
 ET-16-088      C-1,2  84.0         0.58      20.13     0.82         69.34
 ET-16-096      C-1,2  75.7         0.70      11.92     0.84         71.02
 ET-16-108      C-1,2  81.8         0.47      25.14     0.77         65.36
 Composite             398.6        0.68      20.30     0.93         75.72

* AuEq (gold equivalent) and AgEq (silver equivalent) calculated with ratio of
81.5:1

Figure 3: Column Leach Test on Surface Stockwork Zone at -3/8" Crush

 

 

 

Figure 4: El Tigre - Conceptual Cross Section Showing Four Mineralization
Styles

 

 

 

Quality/Assurance/Quality Control (QA/QC) Measures and Analytical Methods.

The drill core for metallurgical testing were drilled to normal industry
standards with core and rejects stored at the El Tigre Project. Sample rejects
were stored in clearly labeled, plastic bags before being palletized prior to
shipping to SGS Lakefield by DHL.

SGS Statement of Qualifications - SGS Canada Natural Resources Lakefield
conforms to the requirements of ISO/IEC 17025 and is accredited by the
Standards Council of Canada for specific tests as indicated on their scope of
accreditation.

Qualified Person

Dave Duncan P. Geo, VP Exploration of Silver Tiger, and David J. Salari, P.
Eng., President of D.E.N.M. Engineering Ltd, are the Qualified Persons as
defined under National Instrument 43-101. Mr. Duncan and Mr. Salari have
reviewed and approved the scientific and technical information in this press
release.

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 epithermal
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 high-grade 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 meters along strike and was mined on 14 levels to a depth of
approximately 450 meters. The Seitz Kelley Vein was mined along strike for 1
kilometer to a depth of approximately 200 meters. The Sooy Vein was only mined
along strike for 250 meters to a depth of approximately 150 meters. Mining
abruptly stopped on all 3 of these veins when the price of silver collapsed to
less than 20¢ 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.

For further information, please contact:

Glenn Jessome

President and CEO

902 492 0298
jessome@silvertigermetals.com (mailto:jessome@oceanusresources.ca)

CAUTIONARY STATEMENT:

Neither 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 release.

This News Release includes certain "forward-looking statements". All
statements other than statements of historical fact included in this release,
including, without limitation, statements regarding potential mineralization,
resources and reserves, the ability to convert inferred resources to indicated
resources, the ability to complete future drilling programs and infill
sampling, the ability to extend resource blocks, the similarity of
mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration
results, and future plans and objectives of Silver Tiger, are forward-looking
statements that involve various risks and uncertainties. Forward-looking
statements are frequently characterized by words such as "may", "is expected
to", "anticipates", "estimates", "intends", "plans", "projection", "could",
"vision", "goals", "objective" and "outlook" and other similar words. Although
Silver Tiger believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, there can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from Silver
Tiger's expectations include risks and uncertainties related to exploration,
development, operations, commodity prices and global financial volatility,
risk and uncertainties of operating in a foreign jurisdiction as well as
additional risks described from time to time in the filings made by Silver
Tiger with securities regulators.

SOURCE: Silver Tiger Metals Inc.

 

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