El Tigre Silver Corp.

El Tigre Silver Corp.

October 18, 2010 11:53 ET

El Tigre Silver Corp.: Geologic Mapping and Sampling Commences on Primary Target at El Tigre, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2010) - El Tigre Silver Corp. ("El Tigre" or the "Company") (TSX VENTURE:ELS) is pleased to announce surface mapping and sampling began on the El Tigre - Sietz-Kelly low grade silver target at the company's mining concessions in Sonora, Mexico (the "El Tigre Property").

Bulk-tonnage, low-grade silver-gold mineralization is El Tigre's primary target. Mineralization crops out in silicified, brecciated and quartz-veined welded ash flow tuff in Espuelas Canyon. Silver-gold mineralization is found in both the hangingwall and footwall of the El Tigre and Sietz-Kelly veins. Silicification and quartz stockwork is believed to extend for approximately one kilometer along the strike of the vein system from 7 Level to surface, at depths ranging from 40 to 250 meters vertically. Altered and mineralized rock is encountered in three crosscuts that show intercepts ranging from 35 to 50 meters true width with silver grades of 4.7 to 5.5 ounces silver per ton and gold grades ranging from nil to 0.30 ounces gold per ton. Historic data is based on El Tigre Mine assay plans verified by Anaconda sampling on the 400 Level.

In September, El Tigre's geologists and sampling crews began geologic mapping, rock -chip and channel sampling of surface outcrops above the Level 4 crosscut where quartz-sulfide vein and stockwork, breccia, and massive silicification crops out in Espuelas Canyon. Channel samples across known mineralized outcrops that define the low grade silver target on surface are currently being cut with a diamond saw. 

To date, El Tigre geologists have observed massive, dense silicifiation, sericitization, iron oxides and fine dark sulfide mineralization in faults, quartz veinlets and shears semi-concordant to main veins. Alteration and mineralization was unmapped by previous workers in the district and offers a significant new perspective on underground mine and drill hole data.

Numerous estimates of target potential exist ranging from 5 to 18 million tons at 5 to 6.5 ounces silver per ton (Thoms, 1983, Bradshaw, 2008). Two thousand (2,000) meters of surface diamond drilling is planned in five to six holes to validate the target before advancing with reconnaissance and definition drilling of the intervening ground along the strike of the vein.

Stuart Ross, President of El Tigre says, "Understanding the surface geology and mineralization in Espuelas Canyon will help us to better define our target and give us a better overall picture of the vein system itself. It will also allow us to see if other veining and low grade silver-gold mineralization exists around the known structures."

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.

To view map for composite plans of Level 7 showing silver gold mineralized crosscuts in the El Tigre mine please click on the following link: http://media3.marketwire.com/docs/1018els.pdf

Method of Collection and Analysis

All samples are collected over a approximately 1-1.5 meters x 0.4 meter area using a circular bladed concrete saw within marked panels. 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 lead, zinc, and copper plus 31 elements using aqua regia leach and 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, then transported by El Tigre personnel to the El Tigre sample handling facility and there stored for shipment.

A shipment consists of 80-100 samples. El Tigre personnel transport the covered and wrapped samples to a rendevous 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. 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.

About El Tigre Silver Corp.

The Company, through it subsidiaries, holds the rights to nine mineral concessions located in north-eastern Sonora, Mexico (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.

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
    El Tigre Silver Corp.
    Eugene K. Schmidt
    Vice President of Exploration