1. Ingeniería

EL TIGRE SILVER PROVIDES PROGRESS REPORT AND ASSAY RESULTS
Vancouver, B.C., February 3, 2015 – El Tigre Silver Corp. (“El Tigre” or the “Company”) (TSXV:
ELS) (Frankfurt: 5RT) (OTCQX: EGRTF) is pleased to present the results of our 2014 3rd and 4th
quarter exploration program on the El Tigre Exploration Project (the “Project”) located within the
Company’s 215 square kilometre concession ownership in Sonora, Mexico. The 2014 3rd and 4th quarter
exploration program focused on the rehabilitation of the underground workings in the El Tigre Vein
including the bulk sampling of backfilled material within the historical stopes; expanding surface
sampling along road-cuts to test the extents of the surface mineralization in the Tigre Viejo area;
underground sampling of the southern extents of the northern El Tigre Vein system to gain a better
understanding of the mineralization and extent of the northern veins; and submitted previously unsampled
intervals from the Company’s drilling programs to confirm lower grade gold stockworks mineralization
near known vein intercepts. The program included a total of 263 samples submitted to Skyline Assayers
& Laboratories (“Skyline”) for analysis from the project area along the 5.3 kilometre known vein system.
The sampling was completed during the last two quarters of 2014 distributed as follows:




20 underground bulk backfill samples;
93 surface channel samples;
72 underground channel samples; and
61 diamond core hole samples.
El Tigre’s co-CEO Stuart Ross stated, “2014 was a year of significant progress for El Tigre. Jose
Velazquez, El Tigre’s Country Manager and his team have continued to advance the exploration of the
project through the operation of the Company’s year round work camp. The results summarized within
this press release represent the most recent results from these efforts and will assist in the definition of the
Company’s 2015 drill targets and strategy for the long-term viability of the project.”
The El Tigre Vein System has known strike length of 5.3 kilometres with drill hole intercepts at depths of
up to 400 metres down dip. The mineralization occurs in discontinuous lenses of elongated high-grade
sulfides along the veins and as low-grade impregnations in the vein gangue material defined both by
narrower (high Ag/Au ratio) veins within a broader (low Ag/Au ratio) zone of alteration/stockwork.
Higher grade zones of mineralization encountered within the historical mine was often much longer along
strike than down dip. The Company’s exploration program was designed to gain a better understanding of
the grade and quantity of the underground historical backfill material, identify areas of the known veins
that have not been mined, and expand the understanding of the surface mineralization in the southern
portion of the system.
The bulk sampling assay results from the underground rehabilitation program in the El Tigre Vein from
the Johnny Cross-Cut continue to support the company’s understanding of the grade and quantity of the
historical backfill material encountered in the upper levels of the existing mine workings. During the final
half of 2014, the Company collected 20 bulk samples representing the historical backfill. A total 120
tonnes with an average silver equivalent grade of 374 gpt (269 gpt Ag and 1.757 gpt Au), where silver
equivalent is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60), were
stockpiled for additional testing.
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
Johnny Crosscut Bulk Backfill Sample Significant Results
Sample Num. Au (gpt)
Ag (gpt)
AgEq (gpt) Description
166072
0.72
305
348.2
Historical Backfill Material
166073
0.86
211
262.6
Historical Backfill Material
166074
1.15
376
445
Historical Backfill Material
166075
1.08
322
386.8
Historical Backfill Material
166076
0.72
328
371.2
Historical Backfill Material
166077
0.48
168
196.8
Historical Backfill Material
166078
0.75
179
224
Historical Backfill Material
166079
0.53
220
251.8
Historical Backfill Material
166080
0.35
56
77
Historical Backfill Material
166081
0.86
126
177.6
Historical Backfill Material
166082
0.55
257
290
Historical Backfill Material
166083
0.51
190
220.6
Historical Backfill Material
166084
0.41
160
184.6
Historical Backfill Material
166085
0.48
104
132.8
Historical Backfill Material
166086
0.51
127
157.6
Historical Backfill Material
166087
0.31
113
131.6
Historical Backfill Material
166088
0.49
89
118.4
Historical Backfill Material
166089
0.34
91
111.4
Historical Backfill Material
166090
0.69
154
195.4
Historical Backfill Material
166091
0.43
184
209.8
Historical Backfill Material
166092
0.33
47
66.8
Historical Backfill Material
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
The surface sampling carried out along the road cuts was intended to complement the previous sampling
along the road cuts to test the extents of the known mineralization and mapped alteration. The results
from these assays have continued to expand the Company’s understanding of the lower grade gold
stockwork and alteration related mineralization identified on the surface and encountered in the drilling
programs.
Road Cut Sampling Significant Results
Location ID
Road to Holes ET10 ET-CHN24
36 & 37
Road to hole ET13- ET-CHN25
45
From
(m)
18.00
To
(m)
26.75
Interval
(m)
8.75
Au
(gpt)
0.805
Ag
(gpt)
---
AgEq
(gpt)
48.30
32.25
4.00
35.25
11.85
3.00
7.85
0.606
0.695
-----
36.36
41.70
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
Additional samples were collected from surface exposures of the Protectora Vein in the northern portion
of the vein system. Sampling of the northern veins was focused on the southern extents of these veins in
an attempt to identify the relationship between the northern and southern vein systems. The sampling in
this area confirms the continuity of mineralization to the south of the known Protectora Vein, however
there is over 250 m of clear ground with no outcrops between the known Protectora Vein and this new
outcrop which has different orientation and is shifted eastward. This may be a newly identified vein that
trends toward the Protectora vein further north. Additional sampling and drilling are required to expand
the understanding and exploration potential of this area.
Significant Results from the Protectora Vein Samples
Sample Width
Num. (m)
165987
0.70
165989
0.50
165990
1.20
165991
1.00
165992
165995
1.15
0.80
Au
(gpt)
0.55
0.58
0.21
<0.03
Ag
(gpt)
20
170
70
11.4
AgEq
(gpt)
53.00
204.80
82.60
13.20
1.1
0.21
378
231
444.00
243.60
Description
Protectora Vein Quartz and Gauge
Protectora Vein Massive Quartz
Protectora Vein Massive Quartz
Hanging Wall Rhyolitic Tuff with weak
Iron oxides
Protectora Vein Massive Quartz
Protectora Vein Massive Quartz
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
Underground channel samples collected from historical mine workings exposing the El Tigre, Sietz Kelly,
Protectora, and Aquila veins were sampled. These samples are representative of the various types of
mineralization encountered along the 5.3 kilometre strike length of the El Tigre vein system and continue
to support the style of mineral deposit being explored by the Company.
The elevated gold grades in the unmined hanging wall material are indicative of the mineralization
adjacent to vein intercepts identified in the drilling programs, however the known extent of the wall rock
mineralization is limited to the width of the stope in the underground mine samples and does not
adequately represent the thickness of the mineralized zone within the wall rock.
Adit Above Level B
Sample Width
Num. (m)
165915
0.20
165916
0.27
Au
(gpt)
2.57
1.35
Ag
(gpt)
427
259
AgEq
(gpt)
581.20
340.00
165917
165918
2.46
0.07
954
14.6
1101.60
18.80
0.30
1.00
Description
Hanging Wall El Tigre Vein Quartz Breccia
Hanging Wall El Tigre Vein Rhyolitic Tuff with Hem
veinlets.
El Tigre Vein massive Quartz
Footwall El Tigre Vein Rhyolitic Tuff with Hem
veinlets.
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
The sampling conducted along the Sietz Kelley Vein confirms the presence of higher grade silver
mineralization within the vein and lower grade gold and silver mineralization in the altered wall rocks.
Footwall
Vein
Hanging wall
Relevant Assays Cross Cut Seitz Kelly Vein (Level 2)
Sample
Num.
166093
Width
(m)
2.05
Au
(gpt)
0.79
Ag
(gpt)
7.6
AgEq
(gpt)
55.00
166094
1.90
0.36
1.2
22.80
166095
2.00
0.99
0.8
60.20
166096
2.00
0.22
17
30.20
166098
2.00
0.14
10.4
18.80
166099
1.90
0.1
22.6
28.60
166101
1.65
0.38
17
39.80
166102
0.23
0.92
1090
1145.20
166103
0.20
0.82
967
1016.20
166104
0.24
1.94
3760
3876.40
166105
1.10
0.07
149.4
153.60
166107
1.90
<0.03
25.4
27.20
166108
0.35
<0.03
47.8
49.60
166109
2.00
0.27
59.8
76.00
Description
El Tigre Fm with pervasive
silicification
El Tigre Fm with pervasive
silicification
El Tigre Fm with pervasive
silicification
El Tigre Fm with pervasive
silicification
El Tigre Fm with pervasive
silicification
El Tigre Fm with moderate
silicification
Hanging Wall, El Tigre Fm
with pervasive silicification
Hem + Lim veinlets
Brecciated Qtz, Seitz Kelly
Vein
Brecciated Qtz, Seitz Kelly
Vein
Brecciated Qtz, Seitz Kelly
Vein
Footwall Seitz Kelley Vein
weak argillized Tuff with
weak Iron Oxides
El Tigre Fm, moderate
Hem in veinlets
Poor developed Bx in El
Tigre Fm, W-M Hem in Fx
El Tigre Fm, moderate
Hem in veinlets
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
The analytical results from the northern vein system confirm the presence of the mineralization in the
upper extents of the veins with mineralization having been encountered in historical drilling,
underground samples, and surface samples over a 200 m down dip distance. This work represents only
a minimum part of the total extension of the Protectora and Aquila veins. Continued exploration
efforts along the upper portions of the northern vein system are necessary to confirm the extent,
thickness, and grades of the northern vein system.
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
South Projection Protectora Vein
Sample Num.
Sample Width
Num. (m)
165934
0.70
165935
0.87
165937
0.70
165939
0.70
165941
0.75
Au
(gpt)
0.41
0.89
0.64
0.89
0.21
Ag
(gpt)
3.8
9
7.4
1
6
AgEq
(gpt)
28.40
62.40
45.80
54.40
18.60
165942
165946
165948
165950
165952
165954
165956
165957
0.73
0.60
0.88
0.50
0.30
0.80
0.34
0.87
1.06
0.68
0.21
0.41
2.98
0.38
0.72
0.21
1.6
1.2
1.6
1.4
6.8
2
1.6
0.6
65.20
42.00
14.20
26.00
185.60
24.80
44.80
13.20
165973
165985
0.37
1.00
0.34
0.21
4.6
5.4
25.00
18.00
Description
Protectora Vein
Protectora Vein
Gauge & Bx. Protectora Vein
Qtz Bx, Protectora Vein
Hanging Wall Protectora Vein, white
Tuff with weak Hem veinlets
Protectora Vein
Protectora Vein
Protectora Vein
Protectora Vein
Protectora Vein
Protectora Vein
Protectora Vein
Hanging Wall Protectora Vein, white
Tuff with weak Hem veinlets
Protectora Vein
Protectora Vein
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
South Projection Aguila Vein, Relevant assays
Sample Width
Num. (m)
165921
0.30
165922
0.60
165924
0.30
165925
0.80
165926
0.47
165927
1.03
165928
1.00
165929
1.10
165931
0.80
165932
0.80
Au
(gpt)
<0.03
0.14
0.1
0.07
0.14
0.1
0.1
0.1
<0.03
<0.03
Ag
(gpt)
12
13.4
38.4
41.2
54.4
12.4
11.2
27
147
25.4
AgEq
(gpt)
13.80
21.80
44.40
45.40
62.80
18.40
17.20
33.00
148.80
27.20
Description
Aguila Vein
Hanging wall Aguila Vein
Aguila Vein
Footwall Aguila Vein
Aguila Vein
Footwall Aguila Vein
Hanging wall Aguila Vein
Aguila Vein
Hanging wall Aguila Vein
Aguila Vein
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
During the construction of the resource model, as reported in the Company’s Preliminary Feasibility
Study for the El Tigre Silver & Gold Project, Municipio De Nacozari De Garcia, Sonora, Mexico (“PFS”)
filed on SEDAR August 15, 2013, areas of potentially mineralized material were not originally assayed.
As a result of this discovery the Company resubmitted intervals from a selection of diamond core holes
that had not been assayed, but displayed geologic characteristics similar to those identified in the surface
and underground samples with elevated gold and silver grades outside of the veins. The results are similar
to those encountered in the underground and surface sampling of the wall rocks. Additional sampling of
the unassayed intervals is necessary to support the assumptions about the wall rock mineralization.
Core Sampling Relevant Results
Hole Num.
From (m)
To (m)
Interval (m)
Au (gpt)
Ag (gpt)
ET10-30
ET12-36
ET12-39
ET12-39
ET12-39
ET12-40
ET12-40
ET13-65
ET13-76
ET13-76
ET13-76
ET13-81
ET13-81
ET13-81
10.80
120.50
92.50
191.5
200.25
164
166.5
24.00
62.85
64.35
65.85
104.00
109.50
112.10
12.30
122.00
94.00
199.00
201.50
165.50
167.50
26.00
64.35
65.85
66.95
108.50
110.55
113.50
1.50
1.50
1.50
7.50
1.25
1.50
1.00
2.00
1.50
1.50
1.10
4.50
1.05
1.40
0.580
0.450
0.380
0.730
0.240
0.270
0.310
0.480
0.270
0.270
0.140
0.640
0.440
0.480
1.2
204
0.4
1.5
1.0
0.6
1.6
0.8
3.6
2.6
2.2
1.8
1.0
1.0
Note 1: All intervals reported as core length in metres.
Note 2: Silver Equivalent (Ag Eq) is calculated using a 60 to 1 ratio of the dollar value of Ag and Au (Ag + Au*60).
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
AgEq
(gpt)
36.00
231.00
23.20
45.30
15.40
16.80
20.20
29.60
19.80
18.80
10.60
40.20
27.40
29.80
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
The intention of the 2014 sampling program at the Project was to define drill targets and further delineate
exploration targets for a planned 2015 drilling program and to build upon the work reported in the
Company’s Preliminary Feasibility Study for the El Tigre Silver & Gold Project, Municipio De Nacozari
De Garcia, Sonora, Mexico (“PFS”) filed on SEDAR August 15, 2013. The Mineral Resources for the
Project, are estimated by Hard Rock Consulting, LLC of Lakewood Colorado (“HRC”) to be 9.875
million tonnes grading an average of 0.630 gpt Au and 39.7 gpt Ag totaling 24.713 million ounces of
EqAg classified as Indicated Mineral Resources with an additional 7.042 million tonnes grading an
average of 0.589 gpt Au and 31.1 gpt Ag totaling 16.075 million ounces of EqAg classified as Inferred
Mineral Resources. The base case estimated mineral resource is based on a 50 gpt Ag Eq cut-off grade.
The Mineral Resources are reported in accordance with NI 43-101 and have been estimated in conformity
with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum “Estimation of Mineral
Resource and Mineral Reserves Best Practices” guidelines. Mineral Resources are not Mineral Reserves
and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral
Resource will be converted into Mineral Reserves.
The sampling program focused on obtaining horizontal channel samples by cutting a two inch (5 cm)
wide channel in the rock, and then chiseling out the rock with a hammer to collect samples. This method
of sampling is done to collect a series of continuous samples similar to a horizontal drill hole and will
assist in defining any surface mineralization that could correlate with the underlying drill intercepts.
Samples collected from the El Tigre stope backfill material were collected with the use of a pick and
shovel. Each sample was transported out of the underground workings with a wheelbarrow and laid out
on a tarp. At the completion of each day the samples were homogenized, split, and quartered using
industry standard methods to obtain an approximate 8 kg sample. This process was repeated to combine a
week’s worth of daily samples into a single 6 kg composite sample for analysis. A total of 4 samples
representing 4 weeks of backfill sampling were analyzed.
The sampling program by El Tigre was designed to build upon the work reported in the PFS as well as
providing guidance for geological work necessary to identify drill targets. The sample results are not
representative of the true thickness at the locations sampled.
Quality Assurance-Quality Control: The quality assurance- quality control (QA-QC) of El Tigre and their
contractors are as follows: Samples are collected and handled only by authorized Company personnel,
who collect them utilizing the methods described above. Samples are bagged and labeled with unique
sample numbers. Numbered sample data is recorded on site. Commercially produced standard and blank
samples are inserted into the sample stream at a rate of 1 QA/QC sample per 20 assay samples. Samples
are then transported by El Tigre personnel to the El Tigre handling facility and stored for shipment. El
Tigre personnel transport samples bagged six to a bag and sealed to Skyline personnel. Skyline authorized
personnel load and transport the samples through the U.S.-Mexico border to their Tucson, Arizona sample
preparation and assaying facility.
The technical content of this news release has been approved by Zachary J. Black, SME-RM (No.
4156858RM), Director – Geology and Resources for HRC, a Qualified Person as defined in NI 43-101.
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com
About El Tigre
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight
comprising of 215 square kilometres located in north-eastern Sonora, Mexico (the “El Tigre Property”),
and approximately 90 kilometres south of the US-Mexico border. El Tigre also holds one additional 32
hectare claim separate from the El Tigre Property. A NI 43-101Technical Report Preliminary Feasibility
Study has been prepared for the El Tigre Silver Project and can be found on the Company’s profile on
SEDAR at www.sedar.com and on the Company’s website at www.eltigresilvercorp.com.
For further information contact:
Stuart Ross, President and co-CEO
Telephone: (778) 980-7187
[email protected]
Rob Grace, Corporate Communications
Telephone: (604) 639-0044
[email protected]
This news release contains forward-looking statements and forward-looking information (together, “forward-looking
statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements include amount and use of proceeds from the offering. Forwardlooking statements involve risks, uncertainties and other factors that could cause actual results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from these forward-looking statements include those risks
set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes
that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance
should not be placed on these statements, which only apply as of the date this news release, and no assurance can be
given that such events will occur in the disclosed times frames or at all. Except where required by law, the
Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
1000 – 355 Burrard Street Vancouver, BC V6C 2G8
Office. 604 639 0044 fax. 604 608 6163
www.eltigresilvercorp.com