El Tigre Silver Corp.
TSX VENTURE : ELS
FRANKFURT : 5RT
PINK SHEETS : EGRTF

El Tigre Silver Corp.

December 16, 2010 10:55 ET

Assays of Channel Samples Confirm Surface Silver Mineralization at the El Tigre Property, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) - El Tigre Silver Corp. (The "Company") (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(FRANKFURT:5RT) is pleased to announce exploration results from surface sampling on the company's El Tigre mining concessions in Sonora, Mexico (the "El Tigre Property").

Over a continuous interval of 20.9 meters collected across the El Tigre structure disseminated argentite-galena-limonite mineralization encountered 1.71 ounce silver per ton inclusive of a higher grade intercept of 10.4 meters of 2.56 ounce silver per ton in the hangingwall of the El Tigre vein. By comparison previous chip samples (Bradshaw, 2008) encountered 19.3 meters of 1.70 ounce silver per ton compared to 19.3 meters of 1.77 ounce silver per ton from El Tigre channel samples over the same interval.

Espuelas Canyon Assay Results
 
Sample            Au Ag Cu Pb Zn
# Area Type Length Height Depth ppb ppm ppm ppm ppm
ET-172 Espuelas Channel 2.55 m 10 cm 4 cm 108 73.6 114.3 525.1 157
ET-173 Espuelas Channel 1.55 m 10 cm 4 cm 319 63.1 93.2 745.5 46
ET-174 Espuelas Channel 1.60 m 10 cm 4 cm 40 89.9 34.7 567.5 25
ET-175 Espuelas Channel 1.55 m 10 cm 4 cm 117 130.4 61.7 673.2 18
ET-176 Espuelas Channel 1.55 m 10 cm 4 cm 47 63.3 39.2 417.6 25
ET-177 Espuelas Channel 1.55 m 10 cm 4 cm 134 115.3 32.2 494.9 94
ET-178 Espuelas Channel 1.45 m 10 cm 4 cm 33 29.0 23.8 101.4 25
ET-179 Espuelas Channel 1.50 m 10 cm 4 cm 22 38.8 15.3 140.5 25
ET-180 Espuelas Channel 1.50 m 10 cm 4 cm 32 24.4 15.9 225 51
ET-181 Espuelas Channel 1.50 m 10 cm 4 cm 49 37.7 35.3 237.3 48
ET-182 Espuelas Channel 1.50 m 10 cm 4 cm 32 17.5 27.7 242.1 60
ET-183 Espuelas Channel 1.50 m 10 cm 4 cm 34 29.0 19.3 162.7 54
ET-184 Espuelas Channel 1.60 m 10 cm 4 cm 32 21.8 11.3 113 46
 
N/A = Not Analyzed      34.286 ppm = 1 oz/tn
 
Espuelas Canyon Area - Comparison of Assay Results to Previous Work
 
El Bradshaw       Au   Ag  
tigre # #   Length   ppb Au ppm Ag
See Data Type ET = Height El ppb El ppm
above follows Bradshaw Bradshaw Bradshaw Tigre Bradshaw Tigre Bradshaw
ET-172 6371 Rock Chip 2.55 m 60 cm 108 45 73.6 28
ET-173 6370 Rock Chip 1.55 m 60 cm 319 72 63.1 39
ET-174 6369 Rock Chip 1.60 m 60 cm 40 24 89.9 69
ET-175 6368 Rock Chip 1.55 m 60 cm 117 17 130.4 93
ET-176 6367 Rock Chip 1.55 m 60 cm 47 21 63.3 126
ET-177 6366 Rock Chip 1.55 m 60 cm 134 51 115.3 104
ET-178 6365 Rock Chip 1.45 m 60 cm 33 62 29.0 48
ET-179 6364 Rock Chip 1.50 m 60 cm 22 15 38.8 15
ET-180 6363 Rock Chip 1.50 m 60 cm 32 54 24.4 68
ET-181 6362 Rock Chip 1.50 m 60 cm 49 37 37.7 32
ET-182 6361 Rock Chip 1.50 m 60 cm 32 37 17.5 46
ET-183 6360 Rock Chip 1.50 m 60 cm 34 17 29.0 46

Sulfide mineralization is 40 – 60% oxidized to barren limonite in surface exposures of mineralization and accounts for lower surface values. Seventy meters below surface mineralization in the Level 4 crosscut encountered 37 meters of 5.0 ounces silver per ton in unoxidized sulfide mineralization (historic assays).

Gold assayed 22 – 319 ppb and was anomalous. Limited copper, lead and zinc were also encountered showing 11.3 – 114.3 ppm, 101.4 – 745.5 ppm, and 25 – 157 ppm respectively. Only minor amounts of the deliterious elements arsenic, antimony and manganese were seen. Values ranged from 8.5 – 80.5 ppm arsenic, 2.8-30.2 ppm antimony, and 22-270 ppm manganese.

The Exploration Target

Bulk tonnage, low grade silver-gold mineralization is El Tigre's primary target and crops out in silicified, brecciated and quartz veined welded ash flow tuff on surface at the northern tip of historic mining in Espuelas Canyon. Mineralization is found as disseminated argentite and galena in massively silicified welded crystal tuff.

Silver-gold mineralization is encountered in both the hangingwall and footwall of each of the El Tigre, Sietz-Kelly and Sooy veins. Low grade silver mineralization is believed to extend for approximately one-and-one-half kilometers along the strike of the vein system from 7 Level to surface, at depths ranging from surface to 400 meters vertically. It is encountered in three crosscuts that show intercepts ranging from 35 to 50 meters true width with historic silver grades of 4.7 - 5.5 ounces silver per ton and gold grades ranging from nil to 0.35 ounces gold per ton. Historic data is based on El Tigre Mine assay plans and historic Anaconda sampling on the 400 Level. The validation of mineralized widths and assay values reported for these crosscuts is the initial target during the first phase of El Tigre's exploration program.

Several historic estimates of target potential exist ranging from 5 to 18 million tons at 5 - 6.5 ounces silver per ton (Thoms, 1983, Bradshaw, 2008). Up to 0.35 ounces gold per ton is encountered with this mineralization (historic assays).

Two thousand (2,000) meters of surface diamond drilling is planned beginning in January to validate the target before advancing with reconnaissance and definition drilling of the intervening ground along the strike of the veins. The Company, through its subsidiaries, holds this and other targets in their entirety with seven mineral concessions totaling 43,000 hectares centered on the El Tigre mine.

Stuart Ross, President of El Tigre Silver Corp., says, "We are pleased that the current sampling program continues to confirm the earlier work done on the property and we are now in a position to move to the drilling stage of our work program with confidence in the targets we have defined." A technical report and technical presentations have been prepared for the El Tigre Property and can be found on the Company's profile on SEDAR at http://www.sedar.com and on the Company's website http://www.eltigresilvercorp.com.

Method of Collection and Analysis

All samples were collected from contiguous 1 - 2.55 meter long x 10 centimeter wide channels cut 4 centimeter deep using a circular bladed concrete saw. Paint marks and labels from previous work were used to identify and define the Company's sample. The samples were bagged in olefin sacks and labeled. Samples averaged 2.3 kilograms in size and were transported by El Tigre and Skyline Laboratory, Inc. ("Skyline") personnel to Skyline's Tucson, Arizona laboratory for sample preparation and analysis. Samples were assayed for gold by 30 gram fire assay with AA finish and for silver by AA on a 30 gram sample. Skyline analyzed the samples for 48 elements using aqua regia leach, Induction Coupled Plasma (ICP) and AA methods.

Quality Control

The quality assurance-quality control (QA-QC) of El Tigre and their contractors is 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. Samples are then transported by El Tigre personnel to the El Tigre sample handling facility and there stored for shipment.

A shipment consists of 60-100 samples. El Tigre personnel transport samples bagged six to a bag and sealed to a rendezvous point with 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.

Skyline assay procedures are described on their website at www.skylinelab.com/iso/index. Skyline is registered to ISO/IEC 17025:2005 standards and has received ISO 17025 accreditation for specific laboratory procedures.

The technical content of this news release has been approved by Eugene K. Schmidt, RPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.

Cautionary Statements:

This news release contains forward-looking statements concerning the El Tigre silver property. 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 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.

Historical resources – a qualified person has not done sufficient work to classify any historical estimate at El Tigre as current mineral resources. The Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

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.

Please note that safe harbour statements have to be property specific to protect the Company. They must also change over time as the risks change.

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.

Contact Information

  • El Tigre Silver Corp.
    Stuart Ross
    President and CEO
    (780) 977-7187
    or
    El Tigre Silver Corp.
    Eugene K. Schmidt
    Vice President of Exploration
    011-521 (662) 233-7445
    www.eltigresilvercorp.com