February 23, 2022
Silver Tiger Metals Inc. (TSXV:SLVR, BUY, C$1.00 target, David A. Talbot) announced that it has contracted a Mexican underground mining contractor, Cominvi, to rehabilitate and properly test the high-grade El-Tigre Ag-Au system at its 100%-owned El-Tigre project in Sonora, Mexico. Cominvi has previously worked with Silver Tiger’s management and provides services to Fresnillo (LSE:FRES, Not Rated), Pan American (TSX:PAAS, Not Rated), and Endeavour Silver (TSX:EDR, Not Rated). Initial rehabilitation work will begin from the Level 7 main entry area, to allow access to the Sooy vein, El Tigre vein, and the Seitz Kelly vein. Plans are to conduct underground channel sampling, drilling, and bulk sampling on these veins and within the highly prospective black shale horizon. Additionally, rehabilitation will include stockpiling the historic backfill for possible future processing, building a ladder system to access multiple levels, and mapping the accessed workings. Current drilling is being carried out from the surface, but management believes going underground will help in understanding the mineralized system better. We believe there will be considerable drill cost savings with the underground access, which should result in additional drilling and definition of the various veins, and an improved understanding of the controls on mineralization within the black shale horizon. We note that recent drilling identified multiple new high-grade zones at El-Tigre (read here, here, and here), which makes a strong case for detailed underground exploration. While the cost and timelines were not provided, management suggested that rehabilitation should quickly allow its staff access to the historic El Tigre mine. Read more
