Silver Tiger Metals (SLVR-V) latest Sprott Capital Partners note:
**High Conviction: Silver Tiger (SLVR) - The Tiger is about to Roar - Drill Results in Coming Weeks**
Silver Tiger (C$115m Mkt Cap) has all the makings to be the next Silvercrest and yes, while I do have my promotional hat on, it’s for good reasons.
**This is my reminder to the investor community that SLVR’s maiden drill holes from the 2020 program (80 holes / 10,000m) are expected for early October! I believe the team is onto something special here and I want to get ahead of it.
First targets = step outs from hole 144 (2017 drilling) which returned 3.15m @ 1,990Ag + 10g/t Au including 0.85m @ 7,339g/t Ag + 37.2g/t Au from 50m below surface.
2 rigs currently turning on site
10,000m drill program underway
Previous drilling saw shallow holes (100-150m) intersect two high grade veins (Caleigh + Protectora), surrounded by very wide / low grade halo’s that offer bulk tonnage OP potential as a nice kicker to the deposit.
Squeaky clean story: 100% ownership of the asset (28,414 ha), no royalties, no ejidos, no debt and a very clean cap structure.
Fully funded drill program following recent $11m equity financing, Eric Sprott subscribing for $4m of that.
These are vein extensions ~`3km north of the old El Tigre mine which produced ~100moz AgEq grading ~2,000g/t AgEq (shut in the 1930’s)
43-101 Resource backstops valuation: SLVR has a resource around the El Tigre mine, 1moz @ 1g/t AuEq
This represents the low grade halo’s around the high grade silver veins
Surrounded by Tier 1 assets in Sonora, MX
95km from Silvercrest’s Las Chispas, 125km from First Majestic’s Santa Elena
With 80 holes / 10,000m planned for this fall, SLVR should be able to delineate the property at a rapid pace given the shallow nature of the high grade targets.
Corporate presentation: email.sprott.streetcontxt.net
VRIFY: email.sprott.streetcontxt.net
Scarcity Value for Silver Deposits being applied by the Market:
With a successful drill campaign, I think SLVR can easily narrow the gap with other success stories we’ve seen in the Silver sector. i.e. Discovery Metals ($650m Mkt Cap), Silvercrest ($1.7b mkt cap),
I think the market is looking for the next emerging silver exploration story, at current levels SLVR offers a great way to gain exposure in the 1st inning of play.
Company Overview:
Silver Tiger owns 100% of the El Tigre Gold-Silver property in Sonora, Mexico (95km NE of SIL's Las Chispas) that previously produced 350koz Au and 67.4moz Ag in the early 1900s. A 2017 updated 43-101 resource estimate highlighted 1moz AuEq @ ~1g/t (65% Indicated) which represents the lower grade halo surrounding the old mine (50-70m widths). The new thesis is to drill test 2km North of the old mine which had a handful of drill intercepts from years prior returning 0.85m @ 7,339/t Ag and 37.2g/t Au, 1.5m @ +1,100g/t Ag all between surface and 200m.
Figure 1. Looking west says it all. Silver Tiger 95km from Silvercrest’s Las Chispas mine, 125km from Santa Elena (First Majestic)
Figure 2. Section view looking north – alteration zone of disseminated mineralization surrounds vein.
Regards,
Investor Relations
IR@silvertigermetals.com
www.silvertigermetals.com
vrify.com |
