The primary focus of Silver Tiger Metals Inc. (TSX.V: SLVR, FSE: 1OC, WKN: A2P4YL) these days is on the exploration of the northern and southern veins in the immediate vicinity of the historic El Tigre mine in the Mexican state of Sonora. They not only offer significant potential for exploration and thus, in the medium term, for increasing the current resource, but also impress with their geological similarities to the veins of the historic mine. Work on the Preliminary Economic Assessment (PEA) has continued to advance in the background, so its publication is still expected in the course of the third quarter of 2025.
Silver Tiger Metals is currently exploring the promising area north of the historic El Tigre mine. Here, not only are more precise geological maps being created and ground samples taken, but the historic core drillings are also being re-evaluated. Similar work is expected to begin shortly in the area of the southern veins as well.
The northern veins represent a fault-related displacement of the veins of the historic El Tigre mine and exhibit the same structure, mineralogy, grade, and orientation as the clearly defined veins around the historic mine. Silver Tiger has already completed mapping the first ten kilometers of this promising structure and sees the opportunity to begin its own initial drilling on this part of the property as early as next winter. Currently, the start of the 2025 winter drilling program is planned for the fourth quarter.
Striking and Encouraging Parallels between the Historic Mine and the Northern Veins
The northern vein area has a combined strike length of over ten kilometers, which has been confirmed by surface mapping, soil samples, drilling, and the presence of underground workings primarily in the Fundadora, Protectora, and Caleigh veins.
This area is considered an undeveloped area, with 15% of the mapped strike length of the veins already tested by drilling. The strong geological similarity to the veins of the historic El Tigre mine is of great importance to Silver Tiger, as the majority of the company’s mineral resource is currently located in the historic mine area.
In the course of recent work, the adits were surveyed, and then samples were taken from the veins at intervals of three to five meters. The minimum sample length was 0.50 meters, and the samples weighed approximately three to five kilograms. Sampling was discontinued either at the end of the adit or due to access restrictions caused by ground conditions. Of the 110 chip samples taken, not all laboratory results are available yet. However, the results already available underscore the potential inherent in the northern veins.
The Caleigh, Benjamin, and Fundadora Veins Demonstrate the Exceptional Potential
The Caleigh vein was discovered by Silver Tiger in 2020. It is the highest-grade of the northern veins, but currently only about 25% has been precisely explored by drilling. Drill hole DDH ET-17-144 intersected over 0.85 meters with 10,129 g/t silver equivalent. On the surface, the Caleigh vein has so far been mapped over a length of 1.2 kilometers.
Silver Tiger has newly discovered the Benjamin vein in recent years. It has been mapped on the surface over one kilometer, with only 25% of its length also precisely explored by drilling. Here, drill hole DDH ET-20-193 yielded a silver grade of 1,310 g/t over 3.0 meters. The Benjamin vein is also interesting because it hosts significant black shale-type mineralization, which is also found in the veins of the El Tigre mine.
The Fundadora vein is also of great interest. It was discovered during the active period of the El Tigre mine between 1892 and 1930 and therefore features many small workings. Among these small workings, a more than 250-meter-long exploration adit, constructed by Anaconda Mining in 1982, is noteworthy. Here, the latest drilling results confirm the high grades found during channel sampling as part of an exploration program in 2020.
Drill hole DDH ET-83-015 provides a good indication of the potential of this vein. It yielded 2,743 g/t silver equivalent over a length of 0.6 meters. On the surface, the Fundadora vein has been mapped over a length of two kilometers. However, here too, only 15% of the total mapped length has been precisely explored by drilling.
The Southern Veins are Increasingly Coming into Focus for Silver Tiger
The southern veins are also currently being prepared for future drilling. Here, Silver Tiger is focusing on the veins at Lluvia de Oro, La Mancha, and El Toro. Their mapping has already been completed over a length of 25 kilometers, meaning that about half of the project area has now been geologically mapped. In the coming weeks, this proportion is to be increased to 70% of the area.
Also in focus is the analysis of the old mine workings. They extend down to a depth of 450 meters, with many veins reaching a strike length of three kilometers or more. Due to the depth of the historic shafts and adits, Silver Tiger assumes that the northern and southern veins also extend to a depth of 450 meters. The high-grade epithermal veins dip steeply to the west and are typically 0.5 meters wide. In some places, the veins can also be up to five meters wide.
Geologically, these target areas are to be considered greenfield, because although the veins have a combined length of more than ten kilometers, not a single drill hole has been sunk in this part of the property. Silver Tiger is thus dealing with a promising greenfield exploration area in this part of the project.
Work on the PEA is Largely Complete
In addition to the historic mine, Silver Tiger has been able to identify over 60 smaller workings on the project. Parallel to the work on the northern and southern veins, the Preliminary Economic Assessment (PEA) for mining on the project is currently being advanced. Currently, over 90% of the company’s measured and indicated resources are attributable to the Kelly and Sooy veins. Both have a combined strike length of ten kilometers, but so far only about 50% have been precisely explored by drilling.
Work on the project’s economic study is nearing completion. Silver Tiger therefore expects to be able to present the results of this study in the third quarter of 2025. As part of this study, the company is focusing primarily on the high-grade vein, sulfide, and shale zones. Also underway are the final design of the process flow diagram and cost estimation, with initial capital expenditures (CAPEX) and operating expenditures (OPEX) already determined, and metallurgical and geotechnical investigations completed.
The decision regarding the construction of the open-pit section of the El Tigre project is also currently being prepared. As part of these plans, Kappes, Cassiday & Associates from Reno were commissioned as external experts with a detailed technical study and the planning of the heap leach facilities. The preliminary technical design for the heap leaching and ponds, carried out by WSP, has since been successfully completed.
For investors, this is all very good news. While the nearly completed PEA will soon enable important economically significant decisions, the exploration of the northern and southern veins is in full swing, which sooner or later should lead to a significant increase in the current resource.
