🕐26.08.11 - 23:27 Uhr

SOMETHING SPECIAL IN SONORA STATE FOR EL TIGRE SILVER






Something Special in Sonora State for El Tigre Silver

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By Claire OConnor
ResourcexInvestor.com
Friday August 26th 2011

On the dusty sands of Sonora State, Mexico, El Tigre Silver Corp. (TSX-V: ELS) is aggressively exploring its 430 square kilometre El Tigre Silver and Gold property. Consisting of 9 concessions with no residual payments, the El Tigre property was the site of a past-producing mine that, in its 35 years of operation, produced 75 million ounces of silver and 400,000 ounces of gold. Since discovery in 1903 by Lucky Tiger Combination Gold Mining Company, and despite exploration programs completed by Anaconda Mining in the 1980s, the El Tigre property has been virtually untouched by the hand of modern exploration.

With some drilling completed and more planned for later this year on its main target, a low-grade disseminated silver zone with a potential size upwards of 15 to 20 million tons of 5 to 6 ounces per ton which could yield in excess of 100 million ounces of silver, El Tigre Silver Corp. is well on its way to becoming Mexicos most exciting silver exploration company.

The El Tigre Property - A Brief History
Located in the Sierra El Tigre in northeastern Sonora, Mexico; the El Tigre property boasts a rich history of exploration and production. Discovered in 1903 by Lucky Tiger Combination Gold Mining Company, the original El Tigre mine � which covers 321 of the 43,000 hectare property - exploited the principal veins of the district and produced the aforementioned 75 million ounces of silver and approximately 400,000 ounces of gold from 1904 to 1939 (Thoms, 1988).

From 1939 to the early 1980s virtually no work was completed on the property. Cue Anaconda Minerals and Compania Minera Talaman S.A. de CV, a previous concession owner. The two companies conducted a district-scale exploration program and topographic surveying that resulted in first rate topographic maps district-wide, detailed Anaconda-style geological mapping of the surface and underground workings at scales ranging from 1:500 to 1:10,000 scale.

They also completed diamond drilling of the vein structures with 22 holes totaling 7,812 meters, 352 meters of exploration drifting along the Fundadora vein, drill core and sampling analysis, road rebuilding from Esqueda, drill pad road construction, petrographic studies of the rock types, metallurgical studies and engineering for tailings reprocessing , air photo coverage and production of land-controlled photogrammetric base maps. It has been estimated that the cost of this work today would be over $10 million (Bradbury, 2007).

Due to a takeover by a larger company called Atlantic Richfield, however, Anaconda called a swift halt to its exploration work in 1983, essentially providing and then abandoning a hugely valuable base of knowledge from which further exploration of the district could be conducted.

El Tigre President and CEO Stuart Ross explains how the property came to the company:

"We found it when we were looking at the tailings that were the result of the 35 years of mining, and in researching the tailings, we also researched all the mine records. In doing that, we determined that there was more opportunity in the concessions than in the tailings. That came from the reports that Anaconda did on the property. From our perspective, whats compelling is that El Tigre was a past producer. Its possible that it could be producing again. Wed like to go back in and re-prove what Anaconda did. Anaconda had high grade targets and low grade targets but the low grade were bulk underground, they were significant. Theres also the possibility of production; production through tailings, and production through whats actually left un-mined."

2011s Main Target
Using historic plans and sections from the Lucky Tiger Combination Gold Mining Company, as well as El Tigre Mine assay plans and Anaconda samplings, El Tigre began its first diamond drill program on the companys main target on January 27th 2011. The purpose of this initial phase of exploration drilling is to validate the historic mineralized widths and assay values.

El Tigres main target is a large low-grade disseminated silver zone believed to extend for approximately 2.5 kilometres along the strike of the vein system from Espuelas Canyon on the north to Gold Hill on the south. The target is a bulk tonnage low-grade zone from surface to the 700 meter level. Potential estimates made by Anaconda range from 2.7 million metric tons of 170 grams of silver per metric ton to 16.4 million metric tons of 225 grams of silver per metric ton (Thoms, 1988).

Since drilling began in January, the company has completed 2,313 meters of diamond drilling in 10 holes with the best results announcing that drill hole ET-26 has encountered 11.69 meters of 180 grams of per ton silver, including 1.28 meters of 511 grams per ton silver. An inspiring result for the company.

"We are thrilled with the results of this drill hole in that we were not only able to confirm but exceed the historical grade." Ross stated in a press release issued April 13th. "It is important to note that drill hole ET-26 is in an area where no workings were encountered. This indicates to us that the original miners left substantial material with grades similar to our results. We look forward to the additional assays that are coming in from this drill program and are excited to move this project forward with continued exploration of the 2.5 kilometer strike zone to the south."

El Tigre has an additional 5000 metres definition drill program planned and fully funded for the main target throughout 2011.

Gold Hill
El Tigre is also working to develop its Gold Hill property on the south end of the El Tigre vein system.

Gold was first encountered on the El Tigre property in oxidized surface outcrops that led to the discovery of the El Tigre vein in the late 1800s (Mishler, 1935). Mine records and stope maps, again from Lucky Tiger, show that the southern one-third of the main El Tigre vein hosted 4 ore shoots with over 1 ounce of gold per ton gold mineralization. Even though the stopes were mined out, their presence indicates that high grade gold mineralization is present in the Gold Hill area.

In January 2011 detailed geologic mapping at 1:500 scale and sampling over Gold Hill and in Tigre Viejo Canyon encountered silicified and quartz stockworked rhyolite anddacite; ash flow tuffs of the El Tigre formation in the hanging wall of the El Tigre vein. 31 rock chip samples taken from these outcrops yielded encouraging anomalous gold-silver values, published in a press release dated March 7th 2011. Results indicate gold-silver anomalous silicified and quartz stockworked tuffs crop out over a 200 meter by 70 meter area in Tigre Viejo Canyon.

In these samples, gold assayed from trace to 3.4 grams per metric ton and was anomalous with a mean value of 0.5 grams per metric ton. More than one-third of the 31 samples assayed 0.5 grams per metric ton or better. Silver assayed from trace to 412 grams per metric ton and was also anomalous with a mean value of 22.2 grams per metric ton.

Continued exploration and drilling is planned for the Gold Hill target throughout 2011.

Other News
Aside from developing its two prioritised drill targets, El Tigre has been maintaining a steadily impressive news flow. On June 16th they announced that they were pursuing a listing on the OTCQX International Market in New York in a bid to market the company to US investors.

"There are a growing number of American investors who are following El Tigre, and the company would like to better serve those investors with the enriched trading platform provided through the OTCQX." Ross commented. "We look forward to working with ROTH (its Investment Bank Principal American Liaison) in introducing our silver story to the growing numbers of precious metals investors in the United States."

The company also recently appointed two strong exploration geologists to carry on the work at El Tigre. Steven Craig is now Vice President of Exploration with 37 years of broad exploration and production experience, andJose Velazquez as Chief Geologist will guide its ongoing exploration work. Velazquez brings over 30 years industry experience to El Tigre, having worked with projects such as La Colorada, Sonora mined by El Dorado; Moris, Chihuahua mined by Manhattan and the San Filipe Deposit, Baja California mined by Frisco. Keeping Eugene Schmidt on as a consultant, El Tigre believes it has enhanced the depth and breadth of the exploration team in Mexico.

Something Special
Located in mining-friendly Sonora State, and with an office in Hermosillo, Mexico, El Tigres highly experienced Board of Directors is guiding the company towards something very special. With a market cap. of only $12 million, $1.3 million in the bank and a ridiculously promising stake of land edging closer to production, I suspect the journey is just beginning for El Tigre Silver Corp.

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