El Tigre Silver (ELS-V) June 9, '14 is pleased to announce additional strong assay results of a recently completed extensive underground and surface sampling exploration program at its El Tigre Silver and Gold Project ("the Project") in northern Sonora, Mexico. El Tigre is reporting assay results from the historic mine levels 3.5 and 4 in the Espuelas Canyon area (Figure 1) that include 2.0 metres of 702 g/t Ag. A total of 173 underground and 393 surface samples were collected as channel samples from outcrops, as well as 25 stream samples and 27 regional samples from the main El Tigre Vein district. The sampling program was undertaken in the 3rd quarter of 2013 and focused on obtaining horizontal channel samples by cutting a two inch (5 cm) wide channel in the rock, and then chiseling out the rock with a hammer to collect samples. This method of sampling is done to collect a series of continuous samples similar to a horizontal drill hole and will assist in defining any surface mineralization that could correlate with the underlying drill intercepts. This program concentrated on the main El Tigre vein district consisting of the El Tigre Viejo canyon, Gold Hill area and the Espuelas Canyon area in the area of the Southern vein system, and the Protectora vein at the Northern vein area. On May 30, 2014 assay results from the El Tigre Viejo canyon and Gold Hill area were reported in a news release. Assay results from the Protectora vein will be released as they become available for publication.
The following map shows the assay areas in relation to the current resource (shown in purple) as defined by National Instrument 43-101 ("NI 43-101").
To view Figure 1 Map of Main El Tigre Vein District- Northern and Southern Veins, please visit the following link: media3.marketwire.com
The intention of the sampling program at the Espuelas Canyon area of the Southern vein area was to support the belief in an extension to the resource from the Company's Preliminary Feasibility Study for the El Tigre Silver & Gold Project, Municipio De Nacozari De Garcia, Sonora, Mexico ("PFS") filed on SEDAR August 15, 2013. The Mineral Resources for the Project, are estimated by Hard Rock Consulting, LLC of Lakewood Colorado ("HRC") to be 9.875 million tonnes grading an average of 0.630 g/t Au and 39.7 g/t Ag totaling 24.713 million ounces of EqAg classified as Indicated Mineral Resources with an additional 7.042 million tonnes grading an average of 0.589 g/t Au and 31.1 g/t Ag totaling 16.075 million ounces of EqAg classified as Inferred Mineral Resources. The base case estimated mineral resource is based on a 50 g/t silver equivalent ("AgEq") cut-off grade.
The Mineral Resources are reported in accordance with NI 43-101 and have been estimated in conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resource will be converted into Mineral Reserves.
The following tables summarize the most notable assay results (greater than 30 g/t AgEq) in the Espuelas Canyon area in the Southern vein system at El Tigre (widths reported are not true widths):
| LEVEL 3.5 SIGNIFICANT RESULTS | | Sample Num. | | Width (m) | | Au (g/Ton) | | Ag (g/Ton) | | Ag Eq (g/T) | | ROCK | | 165557 | | 1.95 | | 0.81 | | 79.2 | | 127.8 | | Tuff (El Tigre Formation) | | 165558 | | 0.90 | | 0.67 | | 30.3 | | 70.5 | | Quartz Vein Hanging wall El Tigre Vein | | 165561 | | 0.3x0.4 | | 2.21 | | 171 | | 303.6 | | El Tigre Vein | | 165565 | | 0.4x0.2 | | 0.03 | | 51 | | 52.8 | | Fracturing Zone | | 165566 | | 0.4x0.1 | | 0.82 | | 190 | | 239.2 | | Quartz Vein | | 165567 | | 0.3x0.1 | | 0.75 | | 19.5 | | 64.5 | | Quartz Vein | | 165568 | | 0.8 | | 0.21 | | 47.1 | | 59.7 | | Tuff (El Tigre Formation) | | 165569 | | 1.2 | | 0.41 | | 34.4 | | 59 | | Tuff (El Tigre Formation) | | 165571 | | 1.5 | | 0.99 | | 44.8 | | 104.2 | | Hanging wall El Tigre Vein | | 165572 | | 1 | | 0.55 | | 37.3 | | 70.3 | | Foot wall El Tigre Vein | | 165573 | | 1.9 | | 1.26 | | 143.8 | | 219.4 | | Backfill El Tigre Vein Stope | | 165574 | | 1.9 | | 1.1 | | 161 | | 227 | | Backfill El Tigre Vein Stope | | 165575 | | 2.2 | | 1.85 | | 320 | | 431 | | Backfill El Tigre Vein Stope |
| LEVEL 4 SIGNIFICANT RESULTS | | Sample Num. | | Width (m) | | Au (g/Ton) | | Ag (g/Ton) | | Ag Eq (g/Ton) | | ROCK | | 625255 | | 2.00 | | 0.02 | | 98.4 | | 99.5 | | Cliff Formation, weak Iron Oxides | | 625256 | | 1.70 | | 0.01 | | 41.4 | | 41.9 | | Cliff Formation, weak Iron Oxides | | 625257 | | 2.00 | | 0.02 | | 91.2 | | 92.3 | | Cliff Formation, Silica microveinlets | | 625259 | | 2.00 | | 0.02 | | 47.2 | | 48.1 | | Cliff Formation, weak Iron Oxides | | 165104 | | 2.00 | | 0.31 | | 16.8 | | 35.4 | | Cliff Formation, mod/strong Iron Oxides | | 165105 | | 2.00 | | 0.41 | | 28.8 | | 53.4 | | Cliff Formation, strong Hem-Lim in vnlts. | | 165106 | | 2.00 | | 1.13 | | 22.8 | | 90.6 | | Cliff Formation, strong Hem-Lim in vnlts. | | 165107 | | 2.00 | | 0.75 | | 9.2 | | 54.2 | | Cliff Formation, strong Hem-Lim in vnlts. | | 165108 | | 2.00 | | 0.62 | | 5.2 | | 42.4 | | Cliff Formation, strong Hem-Lim in vnlts. | | 165114 | | 2.00 | | 0.17 | | 21.6 | | 31.8 | | Cliff Formation, weak Hem & Bx development | | 165123 | | 2.00 | | 0.62 | | 2.6 | | 39.8 | | Cliff Formation, moderate Hem-Lim in vnlts. | | 165124 | | 2.00 | | 0.73 | | 7.4 | | 51.2 | | Cliff Formation, moderate Hem-Lim in vnlts. | | 165138 | | 2.00 | | 0.24 | | 21.6 | | 36.0 | | Cliff Formation. | | 165157 | | 2.00 | | 0.21 | | 22.8 | | 35.4 | | Cliff Formation, weak Silica microveinlets mod. Hem-Lim | | 165167 | | 2.00 | | 0.24 | | 702.0 | | 716.4 | | Strong Qtz Veinlets/Qtz Vein | | 165171 | | 0.50 | | 0.14 | | 47.8 | | 56.2 | | Qtz Vein | | 165173 | | 0.60 | | 0.03 | | 29.8 | | 31.6 | | Cliff Formation, Strong Qtz Veinlets, Hem veinlets | | | | | | | | | | | |
| Note 1: All intervals reported as core length in metres. | | Note 2: Panel sample was used to allow for consistent weight of sample taken. | | Note 3: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60). |
The sampling program by El Tigre was designed to support the work reported in the PFS as well as providing guidance for geological work necessary to identify drill targets. The sample results are not representative of the true thickness at the locations sampled. The results support the conclusion that the El Tigre vein system continues to the north of the mineral resource area with significant silver and gold intercepts within a zone of alteration/stockwork and support further work in exploring and developing the southern El Tigre Vein system.
"The silver and gold occurrence to the north of our indicated and inferred resource provides us hard data that further validates our belief that our current resource area will continue to expand," said Stuart Ross, El Tigre Silver's President and CEO. "The initial resource calculation was published in a NI 43-101 Technical Report in August 2013 and was based on a 1.2 kilometre section of the Southern vein system at the EL Tigre property. We look forward to our next set of assays from the northern vein system at the El Tigre property."
Quality Assurance-Quality Control: The quality assurance- quality control (QA-QC) of El Tigre and their contractors is as follows: Samples are collected and handled only by authorized Company personnel, who collect them utilizing the methods described above in the second paragraph. Samples are bagged and labeled with unique sample numbers. Numbered sample data is recorded on site. Commercially produced standard and blank samples are inserted into the sample stream at a rate of 1 QA/QC sample per 20 assay samples. Samples are then transported by El Tigre personnel to the El Tigre handling facility and stored for shipment.
El Tigre personnel transport samples bagged six to a bag and sealed to Skyline Assayers & Laboratories ("Skyline") personnel. Skyline authorized personnel load and transport the samples through the U.S.-Mexico border to their Tuscan, Arizona sample preparation and assaying facility.
The technical content of this news release has been approved by Zachary J. Black, SME-RM (No. 4156858RM), Director - Geology and Resources for HRC, a Quali?ed Person as de?ned in NI 43-101. |
