In this exclusive interview, Michael Fox and Glenn Jessome celebrate Silver Tiger Metals’ (TSX-V: SLVR) (OTCQX: SLVTF) groundbreaking mining permit in Mexico – the first new permit for an open-pit mine since 2019-2020 – thanks to eight years of dedicated teamwork amidst rising silver prices and its crucial importance to AI, EVs, batteries, and US supply chain security (given China’s export bans and a new Tennessee smelter). Engineering work is progressing rapidly, with the processing plant and crusher scheduled for completion by the end of January, while construction of roads, bridges, camp earthworks, clearing, and water wells is underway. Simultaneously, the transition to a high-grade underground silver deposit is underway with an upcoming PEA for an 800-tpd mill, characterized by low capital costs and excellent economics. In a focused 30-month timeframe for the open-pit mine with large production volumes, exploration is targeting a north-south expansion to increase metal resources and profitability, paving the way for a PFS and shareholder value. Follow Glenn’s live updates at the Metals Investor Forum and the Vancouver Resource Investment Conference – full interviews and resources can be found on our website!
About Silver Tiger and the Historic El Tigre Mining District
Silver Tiger Metals Inc. is a Canadian company whose management has over 27 years of experience in discovering, financing, and developing major hydrothermal gold and silver mines in Mexico. Silver Tiger’s 100% owned historic El Tigre Mining District, encompassing 28,414 hectares, is located in Sonora, Mexico. Fundamental environmental, social, and governance practices are a top priority at Silver Tiger.
Silver Tiger began work on its El Tigre project in 2017. Silver Tiger has drilled over 150,000 meters as part of the El Tigre project, including 119,000 meters since 2020. Silver Tiger has conducted several MREs, an initial MRE in 2017 and MRE updates in 2023 and 2024. The PEA for the El Tigre open pit mine was released in November 2023.
The PFS for the El Tigre open pit mine from October 2024 provided robust economic data. The PFS forecasts an after-tax net present value of $222 million USD at a 5% discount rate, an after-tax internal rate of return of 40.0%, and a payback period of 2.0 years. This open-pit operation is expected to have a lifespan of 10 years. The El Tigre project delivers an undiscounted after-tax cash flow of $318 million USD over the life of the mine, with initial capital costs of $86.8 million USD (including $9.3 million USD for contingencies). Operating cash costs are estimated at $973 USD/oz AuEq and $12 USD/oz AgEq, with AISC of $1,214 USD/oz AuEq and $14 USD/oz AgEq. The economics of the project were evaluated based on a discounted silver price of $26 USD/oz and a gold price of $2,150 USD/oz.
Visit Silver Tiger’s website here
https://silvertigermetals.com/
