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 Fleck@kereport.com and Shad@kereport.com.
* In full disclosure, Shad is a shareholder of Silver Tiger Metals.
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