The 28,414 ha project in Sonora comprises three parallel vein systems: El Tigre, Seitz-Kelly, Sooy. Over 150,000 m of drilling has identified both near-surface stockwork zones (open pit) and deep, high-grade veins. A PFS supports both open-pit and underground operations. A 5,000 m underground drill program is underway, with PEA planned for H1 2025.
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What is El Tigre?
A historic, epithermal silver-gold project with three main veins. 119,000 m drilled since 2020, including significant veins like Seitz-Kelly & Sooy – strong intervals with several kg/t AgEq.
What are the economic parameters?
A PFS (Oct 2024) showed NPV US$222M (5% discount), IRR 40%, 2-year payback period. Ongoing underground drill program aims for resource expansion & infrastructure ahead of PEA (H1 2025).
What are the key drill results?
High-grade intercepts: e.g., 17 m @ 2,608 g/t AgEq; 82,827 g/t over 0.5 m; 3,766 g/t over 1.2 m in Seitz-Kelly.
What about capitalization & financing?
C$15M bought-deal in April 2025; total financing >C$75M since 2020. Cash balance C$7M (Sept 2024), operational cash runway secured until PEA completion and pit construction license.
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