Silver Tiger Metals: Advancing the El Tigre Project Towards Production
March 28, 2024 at 08:34 am EDT
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Silver Tiger Metals CEO Glenn Jessome joined Steve Darling from Proactive to provide further details about the company's active development of its mining projects in Mexico, particularly focusing on the El Tigre project located in Sonora. With over 30 years of experience in the mining industry and concentrated efforts on the 30,000-hectare El Tigre project since 2017-2018, Silver Tiger Metals has achieved significant milestones.
According to Jessome, Silver Tiger Metals has made substantial investments totaling over CAD 100 million, including CAD 75 million raised during challenging market conditions over the past few years. This investment has enabled the company to conduct extensive exploration, with over 125,000 meters drilled. The culmination of this exploration effort was the announcement of a substantial resource estimate in 2023 and the completion of a preliminary economic assessment (PEA) for the stockwork zone of the El Tigre project.
The PEA revealed a net asset value of nearly USD 300 million, with an initial capital expenditure of less than USD 60 million. It also indicated a promising payback period of 1.7 years and projected approximately USD 500 million in after-tax free cash flow over the first decade. Currently, Silver Tiger Metals is focused on ongoing drilling efforts aimed at transitioning the PEA into a pre-feasibility study (PFS), scheduled for release in the summer. This PFS will further derisk and enhance the economic viability of the project.
Sonora, known for its mining-friendly environment, offers excellent logistics and proximity to major mines, providing strategic advantages for the El Tigre project. Looking ahead, the upcoming year is pivotal for Silver Tiger Metals, with key reports such as the PFS and continued exploration aimed at expanding and defining the underground resources. These efforts will lay the groundwork for future production phases, positioning the company for long-term success in the mining sector.
In summary, Silver Tiger Metals' commitment to advancing the El Tigre project and its impressive achievements to date demonstrate its potential for significant growth and value creation. With a strategic focus on exploration and project development, the company is well-positioned to capitalize on the vast potential of its mining assets in Mexico.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Silver Tiger Metals Inc. is a Canada-based company, which is engaged in exploring and developing the historic EL Tigre Mine District in Mexico. Its 100% owned 28,414 hectares historic El Tigre Mining District is located in Sonora, Mexico. The El Tigre historic mine district lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. The El Tigre silver and gold deposit is related to a series of epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a silver and gold mineralized propylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters. Its exploration at El Tigre has identified four mineralization styles, including epithermal veins, stockwork zone, black shale zone and sulfide zone.