May 19, 2021
Silver Tiger Metals Inc. (TSXV:SLVR, BUY, C$1.00 target, David A. Talbot) reported additional results from five Benjamin and Sooy vein drill holes at its 100%-owned, historic El Tigre Ag-Au mine in Sonora, Mexico. We view the step-out results from the Benjamin vein positively, as drilling continues to demonstrate very high-grade Ag intercepts within a broader zone of mineralization. Highlight intercepts returned: 1) 462.6 g/t AgEq over 14.8m including 3,000.7 g/t AgEq over 1.3m (Benjamin Vein – ET-21-208A) and 2) 799.8 g/t AgEq over 1.5m (Sooy Vein – ET-21-221). Hole-208A was a 55m step-out from hole ET-20-193, the discovery hole on the Benjamin vein (read more), and this intersection appears to be higher-grade and wider than previous results. Drilling continues to support management’s view that the Benjamin vein is the northern extension of the Sooy vein located 900m to the south. The remaining results from four drill holes (hole-221, 223, 225 and 227) were located between 330m and 1,085m S of hole-ET-20-202, the discovery hole on the Sooy vein (read more). These intercepts from the Sooy vein had a weighted average of 139 g/t AgEq over 4.7m average thickness, which is lower and narrower than previous results. However, three of the four holes are located fairly close to each other (within 70m of the 1,075m known trend) and in our view, might not be representative of the entire vein trend. Although the Sooy vein results are a little softer than we have typically seen, the results from the Banjamin vein are highly encouraging. Based on drill results to date, we estimate the average grade-thickness of the Sooy vein at 248.4 g/t AgEq over 9.9m (was 267.6 g/t AgEq over 12.2m prior to yesterday’s results; read more). Step-out and infill drilling continues on the Sooy vein, including in the gap area between the Benjamin and Sooy veins. We look forward to seeing all upcoming drill results, which will further define these veins and bode well for any future resource estimates. Read more
