Vancouver, British Columbia - March 20, 2013 (Investorideas.com Mining stocks newswire) El Tigre Silver Corp. (the “Company" or “El Tigre") (TSXV:ELS) (Frankfurt: 5RT)(OTCQX:EGRTF) is pleased to report that the drilling program started on January 18, 2013 continues to move rapidly with 23 holes completed and the first assays returned with good results. El Tigre is drilling on concessions that are part of the Company's 431 square kilometer ownership in Sonora, Mexico.
El Tigre believes that the property hosts a classic Mexican caldera-related, epithermal low sulphide vein system that extends 5.3 kilometers along strike. The drilling program is focusing on the southern 1.2 kilometer zone that has potential for bulk mineable gold associated with the historic high grade silver-gold veins. El Tigre has started a 5000 meter (15,500 feet) program on January 18, 2013 anticipating up to 40 holes. As of the end of February, 23 holes have been completed with 2757 meters drilled. At current advancement rates, the program is anticipated to be completed in early April with all assays returned by the end of April.
The Company has now received assay results for its first 6 holes. These holes were located in the lower part of Tigre Viejo Canyon with Gold Hill on the south and Mula Mountain on the north. Each hole penetrated the mineralized stockwork zone that occupies both the hanging wall and foot wall of the El Tigre high grade vein. The notable intercepts from these holes are in ET13-50 with 57.6 meters of 17.82 g/t silver and 0.682 g/t gold, which included 2.9 meters of 220.4 g/t silver and 5.54 g/t gold. The mineralized intervals (not true thicknesses) for these six holes are summarized in the following table.
Note 1: Assay cutoffs are 0.2 g/t Au and 10 g/t Ag with g/t as gram per tonne.
Note 2: Drill hole direction, angle and depth.
Note 3: (*) Did not meet cut-off grade. (**) El Tigre Vein
Note 4: All intervals reported as core length in meters.
The remaining 2250 meters of the 2013 program will fill-in around earlier holes focusing on the southern 1.2 kilometer zone and test other targets northward along the 5.3 kilometer strike.
Stuart Ross President and CEO stated, "We are very pleased with the rapid progress of our 2013 drilling program and are pleased to be able to report these excellent assay results. We anticipate the drill program will proceed at speed and expect to keep our stakeholders informed as new assay and drilling information is received."
The technical content of this news release has been approved by Steven D. Craig, CPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 431 square kilometers located in north-eastern Sonora , Mexico (the “El Tigre Property"). El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A technical report has been prepared for the El Tigre Property 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.
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 assay results, expected drilling programs and future plans. Forward-looking 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 of 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.
Potential – the potential quality and grade is conceptual in nature. There has been insufficient exploration at the El Tigre Silver property to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.
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.
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