El Tigre Silver Corp.

El Tigre Silver Corp.

September 21, 2010 15:58 ET

Exploration Results Announced for Gold Hill Area; El Tigre Property, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - El Tigre Silver Corp. ("El Tigre" or the "Company") (TSX VENTURE:ELS) is pleased to announce exploration results from the Company's mining concessions in Sonora, Mexico (the "El Tigre Property").

Geologic mapping and reconnaissance sampling completed this month over the south end of the El Tigre vein system centered on Gold Hill. Field work focused on newly discovered alteration and mineralization along and peripheral to the veins as well as defining volcanic facies and structure. Reconnaissance sampling tested numerous targets over the 1.5 x 2.0 km area. Surface work produced four target areas for detailed follow-up. Anomalous gold silver assay results are listed below and shown on the accompanying figure (To view accompanying map, click on the following link: http://media3.marketwire.com/docs/ELSmap21.jpg).

Gold Hill Area Assay Results
Sample # Area Type Length width Au ppb Ag ppm Cu ppm Pb ppm Zn ppm
ET-9 Porvenir Rock Chip 1.0 m 30 cm 136 0.9 12 19 65
ET-11 Porvenir " 5.0 m 30 cm 339 2.7 10 44 73
ET-17 Johnny CX " 1.0 m 1.0 m 1465 74.0 29 18 21
ET-36 Porvenir " 1.0 m 1.0 m 1512 2.0 13 110 68
ET-37 Porvenir " 1.0 m 1.0 m 1136 2.0 8 69 69
ET-38 Porvenir " 1.0 m 1.0 m 1031 1.0 5 55 57
ET- 41 El Tigre Vn Chip channel 50 cm 30 cm >3000 >200 351 847 330
ET-101 Dome Rock Chip 5.0 m 30 cm 20 1 N/A N/A N/A
ET-107 Dome " 5.0 m 30 cm 39 0.3 N/A N/A N/A
ET-126 DDH T-2, 3 Select 50 cm 30 cm 169 163 N/A N/A N/A
ET-128 DDH T-2, 3 Rock Chip 4.0 m 30 cm 221 0.7 N/A N/A N/A
ET-135 DDH T-2, 3 " 2.0 m 30 cm 284 2 N/A N/A N/A
ET-141 Johnny CX " 2.0 m 30 cm 144 5 N/A N/A N/A
ET-142 Johnny CX " 2.0 m 30 cm 183 11 N/A N/A N/A
ET-146 Johnny CX " 3.0 m 30 cm 558 6 N/A N/A N/A
ET-147 Johnny CX " 3.0 m 30 cm 172 3 N/A N/A N/A
ET-149 Johnny CX " 5.0 m 30 cm 456 10 N/A N/A N/A
ET-151 Johnny CX " 5.0 m 30 cm 461 19 N/A N/A N/A
N/A = Not Analyzed

Mapping and sampling defined four areas of interest over Gold hill. They are:

  1.  Porvenir Crosscut - Tabular and El Tigre formation contact
  2.  Johnny Crosscut - El Tigre vein and wall rocks,
  3.  DDH T-2 and T-3 – El Tigre Vein silicified wall rocks
  4.  El Corral dome and sinter terrace

Porvenir Crosscut

Silicified and clay altered rocks outcrop along the contact of the Tabular formation with the El Tigre formation approximately 100 meters west of the El Tigre vein near the portal of the Porvenir crosscut. El Tigre ash flow tuff is the favorable host rock throughout the district however is rarely observed on surface in proximity to the vein.

Five rock chip samples collected along the contact produced results from 136–1512 ppb gold and 0.9-2.7 ppm silver. Three of the five samples ranged from 1031–1512 ppb gold and 1-2 ppm silver. A 50 centimeter sample of the El Tigre vein assayed 13.1 grams gold per tonne with a fire assay and gravimetric finish. Results suggest east dipping contact related mineralization follows the contact to the El Tigre vein and projects north along the vein following the El Tigre formation contact.

Johnny Crosscut

Mine records and stope maps from the Lucky Tiger Combination Gold Mining Company show that the southern one-half of the main El Tigre vein hosts four mined-out historical ore shoots with over one ounce gold per ton gold mineralization for over 550 meters from Brown's shaft on the north to the Johnny crosscut on the south. Although these stopes are mined out, their presence indicates high-grade gold mineralization was present in the Gold Hill area.

The author collected a 6 meter wide channel sample in the hangingwall of the El Tigre vein from the Johnny Crosscut in 1981 that assayed 15.43 ounces silver per ton and two 10 meter long channel samples that assayed 0.026 ounces gold per ton in the north rib of the crosscut. Gob fill from the collapsed El Tigre vein assayed 4.08 ounces silver per ton and .009 ounces gold per ton. The samples were assayed at Bondar Clegg Inc. (Anaconda Files, 1984).

Seven surface samples collected this summer in the hangingwall and footwall of the El Tigre vein assayed 144–1465 ppb gold and 3-74 ppm silver. This anomalous gold silver mineralization is believed to be the northern extension of that encountered in DDH T-2 and DDH T-3 400 meters to the south.

DDH T-2 and DDH T-3

Historic Anaconda drill holes T-2 and T-3 drilled to intersect the El Tigre vein beneath Gold Hill cut disseminated and quartz veinlet controlled gold-pyrite mineralization in silicified and argillized ash flow tuffs of the El Tigre formation. Core assayed 0.315 grams gold per tonne in the footwall of the El Tigre Vein over a true width of 118 meters and 0.412 grams gold per tonne over a true width of 80 meters straddling the El Tigre vein (Anaconda drill logs, 1983).

Surface cover obscures the outcrop of the low-grade mineralization at the projected surface oucrop of T-2, T-3 mineralization. However, three samples collected on surface from limited outcrop in the hangingwall of the El Tigre vein yielded a geochemical anomaly of 169-284 ppb gold and 0.7-163 ppm silver.

El Corral Dome and Sinter Terrace

One kilometer west of Gold Hill, geologists identified a volcanic center during mapping that consists of agglomerate, baseball-sized spherilites and a flow banded rhyolite dome (see map). The south flank of the dome hosts hot spring sinter in proximity to the vent. Traces of gold mineralization were observed in two samples from the area (see assay results above).

Domes, vents, and hot spring terraces are postulated as the surface expression of low sulfide epithermal veins such as those found at El Tigre. This geology suggests the El Corral Dome and Sinter Terraces may represent the surface expression of underlying vein mineralization.

Mapping and geochemistry results are currently being integrated with old underground data and previous drill data. Detailed mapping and sampling of these four areas of interest is planned to define targets to be drilled early in 2011.

Method of Collection and Analysis

All samples were collected over a approximately 1-1.5 meters x 0.4 meter area using single jacks and moils from 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 approximately half of 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 seven mineral concessions located in northeastern 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.

Forward-looking Statements

Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. 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.

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 news 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