Silver Tiger – Breaking Down The Key Takeaways From The Updated Resource Estimate At The El Tigre Project

Shad Marquitz
September 20, 2023

Glenn Jessome, President and CEO of Silver Tiger Metals (TSX.V:SLVR – OTCQX:SLVTF),  joins us to break down the key takeaways and metrics from the news out on Sept 12th, announcing the updated Resource Estimate at the El Tigre Project located in Sonora, Mexico.   


We have Glenn outline how this project has pulled together after 125,000 meters of drilling over the last 6 years, and he breaks down both open pit resources which are more gold-focused, as well as the out-of-pit resources which contain much of the higher-grade silver. We review the 4 separate zones of mineralization in the open pit, in the sulphide zones at depth, in the shale, and in the higher grade silver, and how over time the operation will transition from open-pit to underground, like most of the key Mexican productions stories have before them.


In the Open Pit the resource update has delineated approximately 37.2 million ounces of silver and 575 thousand ounces of gold in the Indicated category, and 52.6 million ounces of silver and 374 thousand ounces of gold in the Inferred category. Out-of-Pit resources at El Tigre showed indicated mineral Resources of 20.8 Moz AgEq grading 279 g/t AgEq contained in 2.3 Mt; and inferred mineral Resources of 69.8 Moz AgEq grading 235 g/t AgEq contained in 9.2 Mt.   This takes the overall resources for in-pit and out-of-pit resources to over 176 million silver equivalent ounces.


Next the company is quickly turning it’s focus to economics, with a Preliminary Economic Assessment slated to be delivered to the market in early Q4 2023. This coming milestone will see Silver Tiger transition from an explorer to a developer, with a Pre-Feasibility Study planned to release to market right after that by March of 2024.


If you have any follow up questions for Glenn please email us at and


* In full disclosure, Shad is a shareholder of Silver Tiger Metals.




Click here to visit the Silver Tiger website and read over the recent news.

    Sep 20, 2023 20:59 PM

    The last two days the sold share count in Goliath is up. The market is starting to see value and when Mr. McEwen gets involved The Ceo gave him a little bit of a sweet deal to come onboard but he counts for a lot in getting this stock noticed. Well Done ! DT

      Sep 20, 2023 20:14 PM

      Yep. I’ve messaged with Roger at Goliath a few times since our meeting last Friday, and they’ve really put out a lot positive newsflow the last 2 weeks. Nice to see Rob McEwen come on board along with Crescat increasing their stake. We’re supposed to chat tomorrow morning to record an investor update, which will likely go up on the site tomorrow so stay tuned.

    Sep 20, 2023 20:16 PM

    For anyone interested in doing their own Due Diligence Rob McEwen recently bought 37.6% of the shares of Satori Resources and had it renamed Canadian Gold Corp. (sound familiar SYL V- CGC) I do not own any shares, and only recently heard of this company but I am mentioning it because like Rick Rule say’s follow the past mine developers. It sells for around 22 cents CDN. DT

    Sep 20, 2023 20:53 PM

    I own a bunch of Silver Tiger. Just recently off it’s lows…

      Sep 20, 2023 20:28 PM

      Hi Buzz. Yep, I’ve got a healthy position in Silver Tiger as well, that got beat up pretty bad over the last year, despite them continuing to put out so many really nice high-grade intercepts on their veins, in the sulphides, and recently in the shale areas.

      It appears that this updated Resource Estimate for SLVR got people looking again in a more favorable light, because 3 different analysts raised their prices targets this week to $0.70 – $1.00, which would be a 3-5 bagger from current levels at $0.22. That makes sense to me, but I was shocked and disappointed to see the stock pull back from $0.42 – $0.45 range at the beginning of this year after already having demonstrated to the market last year and this year they had the mineral goods in the ground and were consistently hitting paydirt. Oh well… that’s just how the market has been this year, but yes, it is looking incredibly attractive at current price levels.

      They are slated to release the PEA in the next 3 weeks, and then by the end of Q1 to put out their PFS, so they are chugging right along. Once more investors evaluate the economics on the project, which based on the resource size, recovery percentages, and comparison to other nearby open-pit mines that have even lower grades, then the company should start seeing it’s valuation rise to more reasonable level over the course of time… even if metals prices just went sideways.

      The impression I got in meeting with Glenn and the team, and talking to Glenn again today, is that they are ready to fast-track the open pit mostly gold into production in the next 2 years, then get revenues coming in to fund the deeper sulphides and shale areas with underground mining where the real prize of the high-grade silver is waiting in the wings.

      It’s the exact same business strategy they deployed at GoGold, and the 2 companies both share some overlap in staff and directors and collaborate on information and knowledge-sharing. I’ve recently been picking away at GoGold too, establishing a position, as it finally pulled back nicely from it’s late 2021 and early 2022 recent highs. It bummed me out that I felt like I had missed GGD as one of the quality stories in the silver/gold spacek, but now I’m buying back at similar levels to when I should have been buying 2-3 years ago. This sour sector sentiment is giving investors that position now at clearance rack prices another whack at the piñata for the long game. 🙂

    Sep 20, 2023 20:55 PM

    Glenn Jessome, CEO of Silver Tiger Metals Inc. TSX-V: SLVR presents at Beaver Creek conference last week:

    Sep 21, 2023 21:44 AM
    NatGas : How Deep?
    Uptrend Intact.

      Sep 21, 2023 21:24 AM

      Considering today’s Report,
      not too deep. So far!